Stock Market LIVE update: Asian indices mostly lower amid lack of cues; GIFT Nifty flat

Stock Market LIVE updates today, Thursday, June 20, 2024: Mirroring trends seen on Wednesday, equity markets may remain volatile on Thursday amid the weekly F&O expiry of derivatives’ series.

 

Global cues, too, are lacklustre this morning, providing no directional cues to domestic markets.

 

Global markets

Benchmarks across Asia-Pacific markets were mixed Thursday morning with Nikkei down 0.7 per cent, and ASX200 tad below flat line.

 

Kospi, and Hang Seng, on the other hand, were up around 0.1 per cent each.

 

Investors await China’s one- and five-year loan prime rates.

 

US markets were shut overnight for Juneteenth holiday.

India Bond index inclusion: India is likely to witness an inflow of more than $200 billion in assets when it gets included in the JPMorgan Emerging Market Index on June 28. India will have a weight of 10% by March 2025. READ MORE

The share of retail AUM in equity schemes, which stood at 55 per cent at the end of the financial year 2020-21 (FY21), has come down to 52.8 per cent in FY24, according to data from the Association of Mutual Funds in India (Amfi). The AUM in absolute terms has surged from Rs 5.5 trillion to Rs 12.4 trillion. READ MORE

>> Gokaldas Exports (GEX) has agreed to invest in BRFL Textiles Private Limited (BTPL) by subscribing through Optionally Convertible Debentures (OCD).

>> In its first tranche, GEX will subscribe for Rs 50 crore, with the remaining OCDs worth up to Rs 300 crore to be subscribed subsequently in multiple tranches, depending on the funding requirements.

>> These funds shall be utilized mainly to meet the working capital needs, with a smaller portion towards the capex requirements.

>> A possible merger or acquisition will be explored by June 30, 2025. 

>> Basis the intimation received from Absolute, the parent firm of Sportskeeda Inc, the latter has completed the acquisition of all the Intellectual Property Rights, including but not limited to domain rights, trademarks, content, website, software codes, etc., of ‘Soap Central’ (IP Assets)

>> This wad done upon payment of the aggregate consideration of $1,400,000/- (equivalent to approximately Rs 11.67 crore) in cash.

>>  Tanfac Industries has signed Framework agreement worth revenue of $81 million (Rs 675 crore) over the next 5 years with one of the leading Japanese Specialty Chemical companies to supply a refrigerant gas.

>> The supply for this product will start from H2 FY2025-26.

 

The initial share-sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters.

 

Brigade Enterprises: Brigade Enterprises secures Rs 150 crore agreement to develop the third tower at World Trade Center (WTC) in Infopark, Kochi.

 

Blue Dart: Logistics giant launches drone delivery service in partnership with Skye Air.

 

IDFC First Bank | LTP: Rs 82.17 | Buy |Target: Rs 86.50 | Stop-loss: Rs 80

Banking stocks are witnessing decent traction and IDFC First Bank has witnessed a fresh breakout. It had been trading in a corrective phase for over 8 months while trading in a descending channel pattern and finally witnessed a breakout from the same with strong volumes. READ MORE

Radico Khaitan   

Call writers (Bears) managed to keep the put writers (Bulls) away from successfully breaching the 23,600 Strike in Nifty. The 23,500 Strike saw fierce battle between both the call & put writers in the Index. The bulls lead the bears at the close at this strike and the option activity at this strike will provide cues about Nifty’s Intra-day direction ahead of the weekly expiry today. READ MORE

>> China’s securities regulator has approved autonomous driving startup Momenta Global Limited’s initial public offering (IPO) in the United States.

>> Momenta plans to issue up to 63,352,856 ordinary shares and list on the Nasdaq Stock Market or the New York Stock Exchange, the regulator said in a statement.