Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 were staring at a tepid start on Wednesday, a day before weekly F&O expiry, as suggested by trends on SGX Nifty. Nifty futures were ruling 19 points or 0.12 per cent down at 15,703 on Singaporean Exchange. Currently, BSE Sensex sits at 52,693, down 153 points or 0.29% while the NSE Nifty 50 was at 15,732 shedding 43 points or 0.27%. “The US FED outcome along with its commentary on Wednesday would set the tone for the near term market direction. High inflationary environment around the globe, fresh curbs in China and rising crude oil prices are likely to keep the markets under pressure for a while. On domestic front, persistent selloff by FIIs, coupled with a weak rupee is further dampening investors’ risk appetite,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said.
Stocks to watch
LIC: LIC (Life Insurance Corporation of India) has increased its stake in non-banking finance company Capri Global Capital, to over 7 per cent from 5 per cent earlier, during the February-June period with an investment of over Rs 221 crore, the state-owned insurer said on Tuesday.
Future Retail: The National Company Law Tribunal (NCLT) has adjourned to Thursday the Amazon’s plea asking it not to admit the insolvency petition filed against debt-laden Future Retail. The insolvency petition, filed by Bank of India (BoI) in May, had come up for hearing before the Mumbai bench on Tuesday.
Reliance Industries Ltd: The government said it retained the right to seek leave of the English Commercial Court’s June 9 order that went in favour of Reliance Industries and Shell in a cost recovery dispute in connection with the offshore oil and gas fields.
PNB Housing Finance: The board of directors of the company has approved the issuance of non-convertible debentures aggregating up to Rs 2,000 crore on a private placement basis.
Wipro: Wipro is increasing its investment in Norway to help its clients capitalise on digital transformation. Within the next two years the company is looking to grow from 85 to 350 employees in Norway.
Bharti Airtel: Bharti Airtel unveiled India’s first multiplex on the Partynite Metaverse platform. The Xstream multiplex is an extension of Airtel’s Xstream Premium offering, which recently achieved a 2-million subscriber milestone within 100 days of its launch.
Asian Paints: Asian Paints acquired 51 per cent stake in Weatherseal Fenestration for Rs 18.84 crore. Weatherseal Fenestration is now a subsidiary of the company.
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