Stock Market Today: All You Need To Know Going Into Trade On June 4

Most Asia-Pacific markets were trading lower in early Tuesday with all eyes on India's general election results, scheduled to be out later in the day.

The Nikkei 225 was 180.62 points, or 0.46% down at 38,742.41, and the KOSPI was 12.99 points, or 0.48% down at 2,669.53 as of 06:23 a.m.

After seven phases of polling, the Election Commission is preparing to announce the results of the Lok Sabha 2024 election on Tuesday. With the counting process underway, public sector enterprises, financials, infrastructure, railway and defence will be in focus.

US treasuries climbed as a weak manufacturing reading fueled speculation the Federal Reserve will have room to cut interest rates this year, Bloomberg said.

The S&P 500 rose 0.11% and the Nasdaq Composite rose 0.56% as of Monday. The Dow Jones Industrial Average fell by 0.30%.

Brent crude was trading 0.22% lower at $78.14 a barrel. Gold rose 0.01% to $2,351.02 an ounce.

The GIFT Nifty was trading 32 points, or 0.14% higher at 23,499.00 as of 06:26 a.m.

India's key equity indices logged their best session in over three years as investors cheered exit polls, which projected victory for the Bhartiya Janata Party-led National Democratic Alliance in the 2024 Lok Sabha elections, along with a better-than-expected GDP for the country. On Monday, both indices closed at record highs.

The NSE Nifty 50 closed 733.20 points, or 3.25%, higher at 23,263.90, and the S&P BSE Sensex gained 2,507.47 points, or 3.39%, to end at 76,468.70.

Overseas investors were net buyers of Indian equities on Monday. Foreign portfolio investors mopped up stocks worth Rs 6,850.8 crore—the highest in two months—while domestic institutional investors remained net buyers for the 10th day and bought equities worth Rs 1,914 crore, according to provisional data from the National Stock Exchange.

The Indian currency strengthened by 32 paise to close at 83.14 against the US dollar.

• Sectors: The public sector enterprises, financials, infrastructure, railway, and defense will be in focus with the Lok Sabha election results to be announced on Tuesday.

• ICICI Bank, Adani Group: The bank and Adani One launched co-branded credit cards with airport-linked benefits. The credit cards are to be rolled out in collaboration with Visa.

• Adani Power: The company plans to amalgamate its subsidiary, Mahan Energen, with Stratatech Mineral Resources to enhance fuel security and competitiveness in the power market.

• Mahindra and Mahindra: The company reported overall disbursements at Rs 4,430 crore in the month of May, up 7% YoY and business assets at Rs 1.05 lakh crore, up 23% YoY, and collection efficiency stood at 96%.

• RVNL: The company received an EPC order worth Rs 440 crore from South Central Railway.

• Moil: The company reported manganese ore sales up 41% YoY at 2.15 lakh tonnes.

• Zee Entertainment Enterprises: The company board meeting is scheduled for June 6 to consider raising funds by way of the issuance of equity shares.

• Biocon: The company received a USFDA nod for the antifungal medication Micafungin. Micafungin is used as an antifungal medication to treat fungal or yeast infections.

• Wipro: The company appointed Bruno Schenk as Country Head and Managing Director for Switzerland.

• Dr. Reddy's Laboratories: The company’s arm, Aurigene Pharmaceutical, opens a biologics facility in Hyderabad.

• Century Textiles: The company arm incorporated a wholly owned subsidiary, Vibhavya Properties for real estate projects.

• Techno Electric: The company has acquired NERES XVI Power Transmission from REC Power Development and Consultancy for Rs 7.15 crore.

• Cupid: The company announced the commencement of its Rapid In Vitro Diagnostic (IVD) kits distribution network. The company is targeting a nationwide presence by the end of the fiscal year.

• Kalyan Jewellers: The company acquired a 15% stake in Enovate Lifestyles for Rs 42 crore.

• Seamec: The company has informed us that the deployment of the vessel “SEAMEC SWORDFISH” with Zamil Offshore Services, Saudi Arabia, is extended for a further period of 30 days from May 25.

• Sapphire Foods: The board meeting is scheduled for June 19 to consider and approve the stock split of equity shares of the company.

• Kronox Lab Sciences: The public issue was subscribed to 11.07 times on day 1. The bids were led institutional investors (1.11 times), non-institutional investors (19.94 times), and retail investors (12.95 times).

• Tinna Rubber and Infrastructure: PGA Securities bought 0.9 lakh shares (0.52%), while Bhupinder Sekhri & Sons HUF sold 0.9 lakh shares (0.52%) at Rs 1,270 apiece.

• Bajaj Electricals: HDFC Mutual Fund bought 7.3 lakh shares (0.63%) at Rs 930 apiece, while Norges Bank on Account of The Government Pension Fund Global sold 7.35 lakh shares (0.63%) at Rs 929.97 apiece.

• Fiem Industries: Aanchal Jain sold 5 lakh shares (3.79%) at Rs 1170.3 apiece, Rahul Jain sold 5 lakh shares (3.79%) at Rs 1170.61 apiece, and Setu Securities Pvt Ltd bought 2.25 lakh shares (1.71%) at Rs 1174.58 apiece.

• Som Distilleries & Breweries: Promoter Jagdish Kumar Arora bought 20,000 shares on June 3.

• Ajanta Pharma: Promoter Aayush M Agrawal, Trustee Aayush Agrawal Trust created a pledge of 37.87 lakh shares between May 29 and 31.

• Price Band Change from 20% to 10%: Cochin Shipyard, Techno Electric and Engineering company.

• Ex/record dividend: ITC.

• Axis Bank: To meet analyst and Investors on June 12.

• Fine Organics: To meet analyst and Investors on June 6.

• Balkrishna Industries: To meet analyst and Investors on June 13.

• Sterling and Wilson Renewable Energy: To meet analyst and Investors on June 6.

• Indian Hotels: To meet analyst and Investors on June 6,7.

• Krishna Institute of Medical Sciences: To meet analyst and Investors on June 6.

• Tata Power: To meet analyst and Investors on June 10, 11.

• Nifty June futures up by 3.3% to 23,407.9 at a premium of 144 points.

• Nifty June futures open interest down by 3.37%.

• Nifty Bank June futures up by 4.3% to 51,283.05 at a premium of 303.1 points.

• Nifty Bank June futures open interest up by 0.36%.

• Nifty Options June 6 Expiry: Maximum Call open interest at24,700 and Maximum Put open interest at 20,200.

• Bank Nifty Options June 5 Expiry: Maximum Call Open Interest at 57,000 and Maximum Put open interest at 40,000.

• Securities in ban period: Zee Entertainment Enterprises.

The Indian currency strengthened by 32 paise to close at 83.14 against the US dollar.

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