Stock market Today
26 JUNE 2024
###GLOBAL###
US markets
US stock market ended mixed on Tuesday as the Nasdaq rallied, buoyed by strength in technology stocks, while retail stocks weighed on Dow Jones.
The Dow Jones Industrial Average declined 299.05 points, or 0.76%, to 39,112.16, while the S&P 500 rose 21.43 points, or 0.39%, to 5,469.30. The Nasdaq Composite ended 220.84 points, or 1.26%, higher at 17,717.65.
Nvidia shares jumped 6.8%, Alphabet share price rose 2.7%, and Meta Platforms stock price gained 2.3%. Walmart shares fell 2.2%, while FedEx stock price rallied 15% in after-the-bell trading.
ASIAN MARKETS
Asian markets traded mostly lower on Wednesday tracking mixed cues overnight from US stocks
Japan’s Nikkei 225 rose 0.26%, while the Topix fell 0.17%. South Korea’s Kospi declined 0.38%, while the Kosdaq gained 0.38%. Hong Kong Hang Seng index futures indicated a lower opening.
CRUDE
Crude oil prices declined after an industry report showed a surprise jump in US crude inventories.
Brent crude oil fell 0.13% to $84.90 a barrel, while the US West Texas Intermediate (WTI) crude futures dropped 0.09% to $80.76.
GOLD
Gold price tumbled after reaching a weekly high of $2,334 and fell as the Greenback staged a recovery underpinned by a minimal rise in US Treasury bond yields, spurred by Federal Reserve (Fed) Governor Michelle Bowman’s hawkish comments. The XAU/USD trades at $2,319, down 0.59%.
Bowman emphasized that monetary policy should remain steady for “some time” and would probably be enough to bring inflation down. She disregarded rate cuts this year and stated she’s willing to raise rates “should progress on inflation stall or even reverse.”
###INDIA###
The Reserve Bank of India (RBI) Governor Shaktikanta Das said that India is on the verge of a significant structural shift in its growth trajectory and is confident that GDP growth will touch 7.2% in the ongoing financial year. Speaking at an event, regarding inflation, Das mentioned that at a 4% inflation rate, the economy, financial system, and growth drivers would be significantly strengthened.
###COMPANIES###
*Mazagon Dock* The public sector undertaking (PSU) announced in an exchange filing that it has been granted “Navratna” status by the Department of Public Enterprises. This recognition makes it the country’s 18th PSU to receive this status.
*Yes Bank* The private lender informed exchanges that it will consider raising funds via debt securities on August 23, 2024. Yes Bank’s share price settled at ₹24.08 at the close of trade on Tuesday, June 25.
*CE Info System* Rakesh Kumar Verma, the promoter of CE Info Systems, the parent firm of MapMyIndia, is set to sell a portion of his equity stake through a block deal. The deal involves 0.9% of the total equity of CE Info Systems, valued at Rs 114.6 crore. The transaction is set at a floor price of Rs 2,293.20 per equity share, representing a 5% discount to the scrip’s closing price of Rs 2,413 on the NSE. JM Financial is the broker for the deal.
*NTPC* NTPC announced that it will consider raising up to Rs 1,200 crore through Non-Convertible Debentures (NCDs) on June 29, 2024. NCDs are financial instruments used by corporations to raise long-term funds from the public or institutional investors.
*Sanghi Industries* Promoter Ambuja Cements and Ravi Sanghi are set to divest up to a 3.52% stake in Sanghi Industries through an offer for sale (OFS) on June 26-27. The floor price for the OFS has been set at Rs 90 per share.
Mahindra & Mahindra Finance Vivek Karve has resigned as Chief Financial Officer of M&M Financial Services and Financial Services Sector to pursue personal, social, and professional interests beyond full-time employment.
Adani Ports and SEZ
Sushant Kumar Mishra has stepped down from his role as CEO-Logistics due to internal restructuring, effective June 25. Concurrently, Divij Taneja has been appointed as the new CEO-Logistics, effective from the same date.
FII & DII
Foreign institutional investors (FII) bought shares worth Rs 1175.91 crore, while domestic institutional investors (DII) offloaded shares worth Rs 149.45 crore on June 25, 2024, according to the provisional data available on the NSE.
F&O Ban
The NSE added GNFC, Granules, Indus Tower, Punjab National Bank, and Sail, in F&O on June 26, 2024
STORY HIGHLIGHTS:Stock market Today
