Buzzing Stocks: Power Grid, Tata Steel, Aurobindo Pharma and other stocks in news today
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Crude Updates:
Crude oil prices fell on Thursday pressured by a stronger US dollar, but losses were limited by a big drop in crude oil inventories in the United States, the world’s top oil consumer.
Trade Spotlight: What Should Investors Do With Jubilant FoodWorks And Jai Corp?
Stocks that were in focus included Jubilant FoodWorks, which closed with gains of nearly 2 percent, and Jai Corp that rallied over 15 percent on Wednesday. All the stocks hit a fresh 52-week high.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 870.29 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 874.20 crore in the Indian equity market on June 16, as per provisional data available on the NSE.
Results on June 17
Power Grid Corporation, Natco Pharma, Jammu & Kashmir Bank, DB Corp, Basant Agro Tech, Gyscoal Alloys, Global Vectra Helicorp, HealthCare Global Enterprises, Hindustan Media Ventures, IFB Agro Industries, Indostar Capital Finance, Khadim India, Kingfa Science, Nava Bharat Ventures, Novartis India, Power Mech Projects, Royal Orchid Hotels, Siel Financial Services, and Tube Investments of India.
Sebi issues new guidelines for running account settlement
Capital markets regulator Sebi on Wednesday came out with new guidelines for settlement of running account of client’s funds and securities that will be applicable from August 1. Under the guidelines, retention of any amount towards administrative or operational difficulties in settling the accounts of regular trading clients (active clients), will be discontinued, the Securities and Exchange Board of India (Sebi) said in a circular.
Hot Stocks | ‘Tata Steel, ICICI Bank Are Two Trading Ideas For The Short Term’
For the benchmark index Nifty, support will be seen near 15,535-15,190. On the higher side, 15,900-15,950 will act as resistance in the coming days, said Vishal Wagh of Bonanza Portfolio
Gold Updates:
Gold prices hovered near a more than one-month low on Thursday as the dollar and U.S. Treasury yields jumped after Federal Reserve officials projected interest rate hikes sooner than expected.
UK inflation hits highest level since before pandemic
British inflation has soared to the highest level since before the coronavirus pandemic, with clothing, fuel and oil prices rebounding as the economy reopens, official data showed Wednesday.
The Consumer Prices Index hit 2.1 percent in May, breaching the Bank of England’s 2.0-percent target for the first time since July 2019. The rate compared with 1.5 percent in April, the Office for National Statistics (ONS) added in a statement.
Dollar Updates:
The dollar rose to its highest level in almost two months versus major peers on Thursday after the Federal Reserve brought forward its projections for the first post-pandemic interest rate hikes into 2023, citing an improved health situation and dropping a long-standing reference that the crisis was weighing on the economy.
Asian Markets trade lower:
