View on market: Stay Cautious, be with quality business:

Asian stocks fell early Friday after U.S. equities sagged amid robust economic data that stoked concerns about a pullback in central bank stimulus.Shares edged back in Japan, South Korea and Australia. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.10% to 15,680 as of 8:a.m. Gold remained lower after coming under pressure, while the rally in crude oil has stalled. Meme stocks including AMC Entertainment Holdings Inc. had another volatile session.

S&P 500 and Nasdaq 100 futures retreated after the gauges fell overnight, though they came off lows on signs President Joe Biden may be willing to compromise on corporate taxes. Strong U.S. jobs data and record service-sector growth underscored the recovery from the pandemic.

Key Data/ Action, Result, and Board meeting to watch

Major economic Data:

  • INR: Bank Loan Growth on 4th June, 2021
  • INR: RBI Interest Rate Decision on 4th June, 2021
  • USD: Nonfarm Payrolls (May) on 4th June, 2021
  • USD: Unemployment Rate (May) on 4th June, 2021

Earnings to Watch:

Earnings: Bharat Forge, MOIL, Bank of India, NIIT, Jubilant Pharmova, Paisalo Digital, PNB, Valiant Organics, Varroc Engineering

International Markets:

U.S & Europe

Particulars    3rd June. Chg Chg(%)
Nasdaq 13,614.51 -141.82 -1.03
Dow 34577.04 -23.34 0.067
FTSE** 7,064.35 -43.65 -0.61
CAC** 6,507.92 -13.6 -0.21
DAX 15,632.67 29.96 0.19
Dow Fut.* 34,544.00 -23 -0.07

Asian markets:

Particulars    4th June. Chg Chg(%)
SGX Nifty 15,680.00 -15 -0.1
Nikkei 28,923.29 -134.82 -0.46
Straits Times 3,164.99 -0.01 0
Hang Seng 28,859.70 -106.33 -0.37
Shanghai 3,572.30 -11.91 -0.33

ADR Watch:

Particulars       3rd June. Chg Chg(%)
Dr Reddy 71.97 -0.42 -0.58
HDFC Bank 76.77 0.35 0.46
ICICI Bank 17.85 -0.09 -0.5
Infosys 19.14 -0.15 -0.78
Tata Motor 22.24 -0.1 -0.45
Wipro 8.01 -0.1 -1.23

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR         72.91 -0.24
Brent 70.87    -0.62
Gold 1865.45       -0.42
Silver 27.407 -0.25

FIIs & DII

Particulars       3rd June.     2nd June.
FIIs 1079.20      921.10
DIIs -278.97   241.76

Earnings to Watch:

Earnings: Bharat Forge, MOIL, Bank of India, NIIT, Jubilant Pharmova, Paisalo Digital, PNB, Valiant Organics, Varroc Engineering

Results:

Gujarat State Petronet Q4FY21 (Consolidated, QoQ) Revenue up 15% at Rs 3,828.65 crore Vs Rs 3,339.66 crore Net profit down 11% at Rs 577.50 crore Vs Rs 650.26 crore Ebitda down 12% at Rs 901.83 crore Vs Rs 1,019.31 crore Ebitda margin at 23.9% Vs 31.1% Recommended a dividend of Rs 2 per share

Quess Corp Q4FY21 (Consolidated, QoQ) Revenue up 7% at Rs 3,004.50 crore Vs Rs 2807.80 crore Net loss of Rs 63.30 crore Vs Net profit of Rs 41.70 crore Ebitda down 75% at Rs 37.80 crore Vs Rs 150.7 crore Ebitda margin at 1.3% Vs 5.4% Approved merger of Greenpiece Landscapes India and MFX lnfotech with Quess Corp

News Update:

RBI MPC: The Monetary Policy Committee of the Reserve Bank of India is expected to leave rates unchanged for the sixth consecutive policy amid uncertainty about the economic fallout of the second COVID-19 wave.

Mahindra & Mahindra: Ministry of Defence signed a contract with Mahindra Telephonics Integrated Systems for procurement of 11 Airport Surveillance Radars with Monopulse Secondary Surveillance Radar for Indian Navy and Indian Coast Guard. The procurement will be made under the ‘Buy & Make’ category and will cost MoD Rs 323.47 crore.

Arvind Fashions: Says no deviation in the use of 2021 rights issue’s proceeds

Lupin: Launched the authorised generic version of Brovana (arformoterol tartrate) Inhalation Solution 15 mcgꝉ/2 mL in the U.S.
ABB Power Products and Systems India: Resumed operations at the manufacturing facility in Peenya, Karnataka on May 28.

SEBI: Capital markets regulator SEBI on Thursday enhanced the overseas investment limit for a mutual fund house to $1 billion from the existing $600 million. The overall mutual fund industry limit is capped at $7 billion.

Telecom: The Department of Telecommunications (DoT) on Thursday issued operational guidelines for the Rs 12,195-crore PLI scheme for the telecom sector. The registration process for the scheme will begin on Friday and remain open for 30 days till July 3, DoT said in a statement.

Banks & NBFCs: | The Reserve Bank of India will announce its monetary policy today. It is expected to leave rates unchanged amid uncertainty about the economic fallout of the second COVID-19 wave.

IDBI Bank | The bank has secured a USD 239 million judgment in the commercial division of the High Court of London against a Cypriot subsidiary of India-based Essar Shipping Group.

Anupam Rasayan India | Crisil has upgraded the company’s long term rating to CRISIL A/Stable from CRISIL A-/Stable, while short term rating has been upgraded to CRISIL A2+ from CRISIL A1.

Source: Moneycontrol, Livemint,, Bloomberg, Investing, Business Standard

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