Important Information for July 5 Stock Trading Strategy

Benchmarks for Indian stocks are expected to open higher on Tuesday, as indicated by Nifty Futures traded on the Singapore Stock Exchange. The Nifty Futures on Singapore Exchange, also known as SGX Nifty Futures, rose 47 points or 0.3% to hit 15,870.

The benchmark BSE Sensex climbed 326.84 points on Monday, trailing gains in global equity markets and buying into index majors ICICI Bank and Hindustan Unilever.

The BSE 30-stock index gained 326.84 points or 0.62% to settle at 53,234.77. During the day, it jumped 394.06 points or 0.74% to 53,301.99.

Here are the key things to know before the market opens on Tuesday:

Asian markets

Most Asian markets were trading higher with Japan’s Nikkei up 1%, Hong Kong’s Hang Seng up 1.2%, South Korea’s KOSPI up 1.66% and Taiwan Weighted up 1.1%.

US markets

US markets were closed for July 4 holiday due to US Independence Day.

Crude oil and gold price check

Benchmark U.S. crude for August delivery rose $2.67 to $108.43 a barrel on Friday. Brent crude for September delivery rose $2.60 to $111.63 a barrel.

Gold for August delivery fell $5.80 to $1,801.50 an ounce. Silver for September delivery fell 68 cents to $19.67 an ounce and September copper fell 11 cents to $3.60 a pound.

Foreign flows

Foreign institutional investors sold shares worth Rs 2,150 crore on Monday while domestic institutional investors bought shares worth Rs 1,688 crore.

Rupee Check

The rupiah doubled its early losses to close almost at 78.95 against the US dollar on Monday on greenback weakness, lower crude oil prices and gains in local equity markets.

In the interbank FX market, the local unit opened lower at 78.97 against the greenback and fell to an intraday low of 79.06. It eventually stabilized at 78.95, down 1 paisa from its previous close of 78.94.

Actions in brief

HDFC, HDFC Bank: HDFC Bank said on Monday it had obtained approval from banking regulator RBI for its parent company HDFC Ltd’s proposed merger with itself.

Billed as the biggest deal in Indian corporate history, HDFC Bank agreed on April 4 to take over the nation’s largest mortgage lender in a deal valued at around $40 billion, creating a services titan. financial.

“HDFC Bank has received a letter dated 04 July 2022 from the Reserve Bank of India (RBI) whereby the RBI has granted its ‘no objection’ to the scheme, subject to certain conditions mentioned therein,” the statement said. bank in a regulatory press release. deposit.

Adani Companies: Adani Enterprises has become the lowest bidder in Coal India’s tender for dry fuel imports with a quotation of over Rs 4,000 crore for a supply of 2.416 million tonnes, although the miner is likely to “negotiate the price,” an official said Monday.

A negotiation for the quoted price could take place as the gap between the lowest bid value and the miner’s own estimates of Rs 3,100 crore exceeds around 30%, he said.

Paper stocks: Shares of companies linked to the paper industry rose amid a ban on certain single-use plastic (SUP) items that came into effect on Friday.

Over the past month, some paper makers, including Seshasayee Paper, have risen 3-8%. In contrast, the benchmark stock indices Sensex and Nifty fell 5% over the same period.

Apollo tire: Government notification requiring new tires for passenger cars, trucks and buses to meet set standards for rolling resistance, wet grip and rolling noise from October would help customers to make informed buying decisions, Apollo Tires said Monday.

The rolling resistance of a tire impacts the vehicle’s fuel efficiency, the wet grip ability influences the braking performance of tires in wet conditions and improves vehicle safety, while the emission Rolling noise refers to the sound emitted by the contact between moving tires and the road surface.

TV engine: TVS Motor Company said on Monday its chairman Ralf Speth had been admitted as a Fellow of the Royal Society.

The honor was given in recognition of Speth’s advocacy for research and development in the UK and his commitment to STEM (science, technology, engineering and mathematics) education.

About Vicki Davis

Check Also

The Rupee gains 45 paise to close at 81.47 against the US Dollar

The rupee appreciated 45 paise to close at 81.47 (provisional) against the US dollar on …