Stock market today: Stocks climbed in Asia on Tuesday, US equity futures pointed higher amid steadier investor sentiment compared with last week’s rout in global shares.

Japan’s Nikkei climbed on Tuesday after falling to a three-month low in the previous session, as investors scooped up beaten-down cyclical stocks, while US futures pointing to a higher open and overnight gains in European shares also boosted sentiment. At 12pm, Sensex was up 861.28 points at 52,459.12, while the broader Nifty rose 263.25 points to 15,613.40

21 Jun 2022, 12:49:34 PM IST

S.Korean shares rebound from 19-month low on institutional boost

South Korean shares rebounded on Tuesday to close higher, mostly led by institutional investors’ dip-buying after a steep drop to a 19-month low in the previous session. The Korean won weakened slightly, while the benchmark bond yield inched down.

The benchmark KOSPI ended up 17.90 points, or 0.75%, at 2,408.93, after touching its lowest since early-November 2020 on Monday.

21 Jun 2022, 12:28:36 PM IST

GE Steam Power inks $165 mn pact to supply 3 nuclear steam turbines to BHEL

GE Steam Power on Tuesday said it has inked a $165 million pact with state-run engineering firm BHEL to supply three nuclear steam turbines out of six units for NPCIL’s domestic nuclear programme – phase 1 being developed at Gorakhpur, Haryana (units – 1 to 4 (GHAVP)) and Kaiga (Kaiga-5&6) Karnataka, a company statement said.

The programme includes 12 units of 700 MWe being developed by NPCIL with their own nuclear reactor technology i.e., Pressurized Heavy Water Reactors (PHWR). In total, it will represent 8.4GW of CO2-free electricity for the country, enough to power more than 14 million homes, it said.

21 Jun 2022, 12:18:18 PM IST

Bitcoin holds above $20,000 after week of forced crypto selling: Bloomberg 

Cryptocurrencies showed tentative signs of recovering from last week’s rout as Bitcoin held above $20,000.

Bitcoin rose as much as 1.6% on Tuesday in Asia and was trading at $20,665 in Asian deals. The MVIS Cryptocompare Digital Assets 100 index climbed 1.5%. So-called altcoins like Solana and Polkadot were among gainers.

21 Jun 2022, 12:08:15 PM IST

Hindustan Petroleum Corp. issues debentures worth of ₹1,500 crore: BSE filing 

21 Jun 2022, 11:51:52 AM IST

Dhanuka Agritech – Rating: BUY | CMP: Rs672 | TP: Rs870: Himanshu Binani – Research Analyst at Prabhudas Lilladher

Management Meet Update – 1Q likely to be subdued; all hopes pinned on the monsoons

Quick Pointers:

1QFY23 revenue growth likely to be subdued (low double digit growth).

Monsoons on the lower side; impacting ground activities till date.

We interacted with senior management of Dhanuka Agritech (Dhanuka) to take an update on the business and outlook, going forward. Key highlights are (a) Delayed start of monsoons have kept ground sentiments lower; (b) weak rainfall in first 20 days (down 8% YoY on a PAN India basis); however major deficiency witnessed in key agricultural belts of central, western and Southern India; (c) 1QFY23 revenue growth for industry likely to be subdued (low double digit growth on a lower base of last year); (d) have taken price hikes of 3-4% across portfolio to pass on inflated cost; (e) RM prices remained stable, led by lower demand in domestic market; (f) Green-field project in Dahej remains well on track. Dhanuka sounded cautious on its 1Q performance, led by erratic monsoons. We believe that next few weeks would be crucial for the industry in terms of 1HFY23 performance (contributing ~60% of the annual revenues). However, pick-up in rainfall and sowing activities coupled with remunerative crop prices and lower base impact should bode well for the kharif season. 

We largely keep our estimates unchanged and would be watchful on how monsoons pan out over the next few weeks. Maintain ‘BUY’ with TP of INR870 based on 15xFY24E EPS. (5-year high/low 41x/7x, average 21x).

21 Jun 2022, 11:40:39 AM IST

PSU Bank index surges over 2%

Nifty PSU Bank index 

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Nifty PSU Bank index 
21 Jun 2022, 11:13:44 AM IST

Akasa Air takes delivery of first aircraft Boeing 737 MAX

Rakesh Jhunjhunwala-backed Akasa Air’s first aircraft Boeing 737 MAX arrived in New Delhi on Tuesday, bringing it closer to securing mandatory Air Operator Permit to start operations.

The airline had received the ceremonial keys for the aircraft in Seattle, the US, on 15 June, the airline said in a statement.

This is the first delivery of the 72 Boeing 737 Max planes that Akasa Air placed an order with Boeing last November.

21 Jun 2022, 10:57:57 AM IST

India’s Tata Steel bought 75,000 tonnes of Russian coal in May: Reuters 

India’s top steelmaker Tata Steel imported about 75,000 tonnes of coal from Russia in the second half of May, two trade sources and one government source said, weeks after pledging to stop doing business with Russia.

A spokesman for Tata Steel said the deal to import coal from Russia was made before the company’s announcement to cut business ties with Russia, without providing further details. (Read here)

21 Jun 2022, 10:54:39 AM IST

India logs 9,923 fresh COVID-19 cases

India’s COVID-19 tally climbed to 4,33,19,396 on Tuesday with 9,923 fresh infections reported in the last 24 hours, pushing up active cases to 79,313, according to Union health ministry data.

Death toll climbed to 5,24,890 with 17 new fatalities.

21 Jun 2022, 10:27:06 AM IST

Suven Life Sciences soars

The board of the pharmaceutical company will meet on 24 June to consider raising of funds via a rights issue of shares.

21 Jun 2022, 10:16:39 AM IST

Oil rises on market caution over tight supply

Oil prices rose 1% on Tuesday, clawing back more of last week’s losses as investors focused on tight supplies of crude and fuel products rather than concerns about a recession dampening demand going forward.

Brent crude futures rose $1.08, or about 1%, to $115.21 a barrel, adding to a 0.9% gain on Monday. The benchmark contract fell 7.3% last week in its first weekly fall in five.

U.S. West Texas Intermediate (WTI) crude futures for July, which expires later on Tuesday, rose to $112.01 a barrel, up $2.45, or 2.2%, from Friday’s close. There was no settlement on Monday, which was a U.S. public holiday. WTI dropped 9.2% last week.

21 Jun 2022, 09:58:35 AM IST

Rupee inches 6 paise lower at 78.04 against US dollar: PTI

The rupee inched lower by 6 paise to 78.04 against the US dollar in early trade on Tuesday, as persistent foreign fund outflows and strong dollar demand globally weighed on investor sentiments.

At the interbank foreign exchange, the rupee opened at 78 against the US dollar, then lost further ground to quote at 78.04, registering a fall of 6 paise over the last close.

On Monday, the rupee appreciated 7 paise to settle at 77.98.

21 Jun 2022, 09:46:21 AM IST

Top gainers/losers on Sensex at this hour 

Sensex stocks 

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Sensex stocks 
21 Jun 2022, 09:44:18 AM IST

RIL worst hit among Sensex stocks 

Capital markets regulator Sebi on Monday imposed a penalty totalling 30 lakh on Reliance Industries and two of its compliance officers for violating fair disclosure norms during Facebook’s 43,574 crore investment in Jio Platforms in 2020.

21 Jun 2022, 09:26:22 AM IST

Nifty rises above 15,400 in opening deals 

Nifty at open

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Nifty at open
21 Jun 2022, 09:17:57 AM IST

Sensex rises at open, back above 52,000

Sensex check

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Sensex check
21 Jun 2022, 09:05:01 AM IST

Nifty rises above 15,300 in pre-open 

Nifty

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Nifty
21 Jun 2022, 09:04:19 AM IST

Sensex rises more than 150 points in pre-open 

Sensex check

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Sensex check
21 Jun 2022, 08:59:27 AM IST

Yes Bank close to raising up to $1 billion from Carlyle, Advent

Yes Bank is in advanced stages of negotiations to close a $1 billion equity fundraise from private equity firms Carlyle and Advent International, two people aware of the development said. (Read here)

21 Jun 2022, 08:49:41 AM IST

Market view: Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One

Technically, the index has snapped the six days of the selling spree with positive closure, and any follow-up buying could demonstrate an encouraging sign for the bulls for the coming sessions. On technical parameters, the 15180-15200 odd zone has played the sheet anchor role for the past two consecutive sessions, and sustenance above the same could be a positive sign for the market participants. 

On the contrary, 15500 is to be looked at as an immediate hurdle, followed by the 15650-15700 zone that holds the sturdy wall for the bulls of the D-Street.

Looking at the tentativeness among the participants, the index is likely to stay within the mentioned range until any decisive breakthrough on either of the sides is not seen. Hence, we advocate avoiding any aggressive bets and to continue with a stock-specific approach, focusing on potential bounce-back candidates.

21 Jun 2022, 08:33:23 AM IST

Life insurers may get to sell health covers

India’s insurance regulator is planning to allow life insurance companies to offer full-fledged health insurance policies, two people with direct knowledge of the plans said, in a move that will likely reduce premiums and increase access to affordable health cover. (Read here)

21 Jun 2022, 08:03:34 AM IST

SGX Nifty gains in early deals 

Nifty futures on the Singapore Exchange rose 41 points, or 0.3%, to 15,403 in early deals on Tuesday, signalling a positive start for Indian indices.

Indian indices on Monday closed higher led by heavyweights HUL, HDFC, and HDFC Bank amid inflation worries across the globe.

The Sensex gained 237.42 points to close at 51,597.84, while the broader Nifty50 added 56.65 points to end at 15,350.15. 

21 Jun 2022, 07:35:13 AM IST

Asian stocks, US equity notch up gains 

Stocks climbed in Asia on Tuesday, US equity futures pointed higher and Treasuries retreated amid steadier investor sentiment compared with last week’s rout in global shares.

Japanese shares led gains, while Hong Kong and China were more subdued as traders assessed the possible impact of Covid outbreaks in Shenzhen and Macau.

Investors continue to monitor China’s Covid flareups and its efforts to shore up economic growth. The yen remains around a 24-year low against the dollar, sapped by the contrast between a super-dovish Bank of Japan and hawkish Fed.

In commodities, oil gained, while prices for metals like copper are being buffeted by concerns about the demand outlook amid weakening global growth.

Earlier, European Central Bank President Christine Lagarde restated officials’ intention to raise interest rates in July and September, signalling that concerns over financial-market tensions aren’t derailing the fight against inflation.

Wall Street, shut on Monday for a US public holiday, had risen on Friday, though the broad-based S&P 500 lost 5.8% for the week, its worst performance since 2020.


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