Trends on SGX Nifty indicate a negative opening for the indices. The Nifty futures were trading at 15,760 on the Singaporean Exchange.
At 09:02 IST, the Sensex was up 143.62 points or 0.27 percent at 52618.38, and the Nifty was down 23.00 points or 0.15 percent at 15776.40.
DFL Shares will be delisted from stock exchanges post-acquisition by Piramal Capital and Housing Finance. 'As part of the Resolution Plan, the equity shares of the Company are proposed to be delisted,'' DHFL said in an exchange filing.
Mohit Nigam, Head, PMS - Hem Securities, said the benchmark Indices are expected to open on a subdued note on Monday on account of global cues. In the coming week, the market will first react to April's industrial output data, quarterly Results and US Fed interest rate decision along with Fed commentary (16th June). Expect positive sentiment in the market on account of consistent decline in fresh coronavirus cases with a pickup in vaccination drive, rally in the global market (record high US and European market), FIIs buying interest and easing restrictions by states raised hopes for faster economic recovery. FIIs were net buyers Rs 2113cr while DIIs were net sellers Rs 826cr during last week.
The following companies will release their quarterly earnings today: Coal India, IDC, Indian Overseas Bank, Aditya Consumer Marketing, Arihant Capital Markets, BF Investment, BFL Asset Finvesh, BF Utilities, Gayatri Projects, Globus Spirits, Greenply Industries, Hemisphere Properties India, IFB Industries, JB Chemicals & Pharmaceuticals, Jaiprakash Power Ventures, Kajaria Ceramics, Kelton Teh Solutions, Mirc Electronics, Satin Creditare Network, Singer India, Swelect Energy and Uttam Sugar Mills.
Asian markets trade mixed
Asian markets were mixed with multiple major markets in the region closed for holidays. In Japan, Nikkei 225 rose 0.45 percent in early trade while the Topix index gained 0.25 percent. South Korea's Kospi dipped fractionally.
US stocks closed modestly higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the US Federal Reserve to tighten its dovish policy sooner than expected. The Dow Jones Industrial Average rose 13.36 points or 0.04 percent to 34,479.6; the S&P 500 gained 8.26 points or 0.19 percent to 4,247.44 and the Nasdaq Composite added 49.09 points, or 0.35 percent to 14,069.42.
IIP growth on low base effect
An extremely low base effect has led to industrial production in India expanding by a whopping 134 percent year-on-year in April, against 22.4 percent rise seen in March. When compared with April 2019, industrial growth stood at a margin 0.07 percent.
The government said the indices for the month of April 2021 are not strictly comparable with April 2020, while the nationwide lockdown was in full force and a majority of factories were not operating. Consequently, there were many units which reported 'Nil' production, affecting comparison of the indices for the months of April 2020 and April 2021.
G7 countries to provide $1 bn COVID-19 doses
The Group of Seven (G7) countries will provide $1 billion COVID-19 vaccine doses over the next year and work with the private sector, the G20 and other countries to increase the contribution over months to come, according to an almost finalised draft of the communique.
Shyam Mettalics and Energy IPO opens today
The initial public offering of Shyam Mettalics and Energy opens for subscripton today. THe equity shares are proposed to be listed on the BSE and the National Stock Exchange. The public issue of up to Rs 90 crore comprises a fresh issue of Rs 657 crore and an offer for sale of Rs 252 crore by the existing shareholders. The offer for sale comprises a sale of up to Rs 37 crore by Kalpataru HouseFin and Trading, Rs 30 crore by Dorite Tracon, and Rs 97 crore by Narantak Dealcomm.
Blckstone-backed Sona Comstar is planning to raise Rs 5,550 crore through public offer which comprises a fresh issue of Rs 300 crore and an offer for sale of Rs 5,250 crore. The public issue opens today and closes on June 16. The price band has been fixed at Rs 285-291 per equity share. The equity shares are proposed to be listed on the BSE and NSE.
