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FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 1,658.72 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,277.08 crore in the Indian equity market on June 28, as per provisional data available on the NSE.
Standard Life to sell a 3.46% stake of HDFC Life:
Standard Life (Mauritius Holdings) is to sell 7 crore, or about 3.46 percent of total shares of HDFC Life Insurance Company through block deals on June 29.
Madhavi Arora, Lead Economist, Emkay Global Financial Services on FM’s Relief measures announcement.
While the measures are welcome and target Covid sensitive sectors, most of the fiscal support is still below the line and in the form of loan guarantees, and not direct stimulus. Overall, amid various push and pull, there is a likelihood of fiscal slippage to the tune of around 0.5% from the initially budgeted 6.8%. Despite the slippage, the effective fiscal impulse will still be negative in FY22. Given the limited efficacy of monetary easing currently, continued countercyclical fiscal policy support—and avoiding a premature consolidation—remains crucial.
Sebi keeps Aditya Birla Sun Life's IPO in abeyance
Capital markets regulator Sebi has kept proposed initial share-sale of Aditya Birla Sun Life AMC in "abeyance", an update with the watchdog showed on Monday. However, the Securities and Exchange Board of India (Sebi) did not clarify further.
The asset management company had filed preliminary papers with Sebi in April to raise funds through through an initial public offer (IPO). Going by the draft papers, the proposed IPO is entirely an offer for sale, wherein two promoters-- Aditya Birla Capital and Sun Life (India) AMC Investments-- will divest their stake in the asset management firm.
Results on June 29:
Finolex Cables, Hindustan Oil Exploration, A2Z Infra Engineering, Ansal Properties & Infrastructure, BAL Pharma, Balmer Lawrie Investments, Bharat Road Network, Dredging Corporation Of India, E.I.D.-Parry (India), Gallantt Metal, GALLANTT Ispat, GOCL Corporation, Golden Tobacco, HOV Services, Himadri Speciality Chemical, Housing & Urban Development Corporation, Ind-Swift Laboratories, Indian Railway Finance Corporation, Kirloskar Electric Company, KRBL, Madhucon Projects, MARG, Mirza International, Mahanagar Telephone Nigam, Nagarjuna Fertilizers and Chemicals, NBCC (India), Noida Toll Bridge Company, Omaxe, Orient Press, Ruby Mills, Ruchi Soya Industries, Rail Vikas Nigam, Sintex Industries, SPML Infra, Subros, Sunteck Realty, Suzlon Energy, Zee Learn
Petrol, diesel prices on June 29:
After a day of pause, petrol prices were hiked again by 31 to 35 paise while diesel of 26 to 30 paise on June 29, taking fuel prices across the country to a historic high, according to a price notification by state-owned fuel retailers. Read More
Ajit Mishra, VP - Research, Religare Broking on measures announced by Finance Minister:
The announcements were largely focused on providing credit support and extending the existing schemes so the impact of second wave could be minimal on the economy and individuals. Since there is no major direct stimulus announcement, there will be minimal or no impact on fiscal balance. In addition, the measures announced for stressed sectors viz. MSMEs and travel & tourism would help in setting a recovery roadmap as they’re still struggling due to the restricted activities.
Gold Updates:
Gold prices eased on Tuesday, as a firmer dollar made bullion expensive for holders of other currencies while concerns that the U.S. Federal Reserve will tighten its monetary policy sooner than expected also dented the metal's appea
Investors Meeting Schedule:
Market LIVE Updates: SGX Nifty indicates a flat start for the Indian indices - Moneycontrol.com
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