BSE Sensex and Nifty 50 had been set to see a gap-up begin on Wednesday, as recommended by trends on SGX Nifty. Nifty futures moved greater in trade, gaining 68.50 points or .43 per cent to 15,838.50 on Singaporean Exchange. Chartists see additional choppiness ahead due to scheduled derivatives expiry tomorrow. In today’s trade, investors will hold tabs on stock-certain moves, Q4 final results, crude oil rates, rupee movement against dollar, and other international developments. “We expect Nifty to challenge upper 15900 levels again in the next few sessions and a sustainable move above this area could open more upside towards 16200 levels. Immediate support is placed at 15650,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, stated.
India Pesticides IPO opens: India Pesticides’ Rs 800-crore IPO will open for subscription on Wednesday, June 23, 2021. The problem will close on 25 June. The corporation has fixed the cost band of the problem at Rs 290-296 per share. The public problem comprises fresh problem of shares worth Rs one hundred crore and supply-for-sale (OFS) of Rs 700 crore by current promoter promoting shareholders. Up to 50 per cent of the net supply has been reserved for certified institutional purchasers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors (NIIs).
Global watch: Asia stock markets had been trading greater in early trade on Wednesday with Japan’s Nikkei up .7 per cent, and China’s Shanghai Composite .15 per cent. Hong Kong’s Hang Seng index sophisticated .47 per cent. South Korea’s Kospi edged .19 per cent greater. US stock indices rose in overnight trade on Wall Street, following Federal Reserve Chairman Jerome Powell vowed not to raise prices as well swiftly. The Dow Jones Industrial Average rose .2 per cent and the S&P 500 gained .51 per cent, and the Nasdaq Composite added .79 per cent.
Call, Place open interest: Maximum contact OI was seen at 16,000 strike with 90,600 contracts, followed by 15,900 strike with 76,929 contracts. Maximum Put OI was at 15,500 strike with 55,395 contracts, and then 15,000 strike with 52,110 contracts.
FIIs turn sellers in Indian share marketplace: On Tuesday, foreign institutional investors (FIIs) offloaded shares worth Rs 1,027.94 crore, though domestic institutional investors (DIIs) purchased shares worth Rs 302.45 crore on a net basis in the Indian stock marketplace.
Q4 final results today: A total of 64 BSE-listed providers such as Asian Hotels (East), Allcargo Logistics, Apollo Hospitals Enterprise, Andrew Yule & Company, Deepak Spinners, Empire Industries, HCC, MBL Infrastructures, Mcleod Russel India, Mercator, Munjal Showa, Precision Wires India, Schneider Electric Infrastructure, Sharon Bio-Medicine, Speciality Restaurants, Technofab Engineering, and V2 Retail will release their January-March quarter earnings on June 23.