Trade Setup: Global Cues Point to a Muted Start Ahead of Key Corporate Actions
GIFT Nifty down 0.29% at 24,675.00, signaling a slightly negative start. US markets closed mixed, with Dow up 0.32% and Nasdaq down 0.33%. Asian markets show mixed trends. Crude oil softens to $63.69/barrel. FIIs net sellers of ₹6,516.49 crore, while DIIs net buyers of ₹7,060.37 crore. Key AGMs and dividend payouts scheduled for Maruti Suzuki, Coal India, P&G Hygiene, and others. Notable block deals in UPL, Nimbus Projects, and Edelweiss Financial Services may influence stock-specific movements.
*this image is generated using AI for illustrative purposes only.
Introduction
Global markets are showing mixed signals as traders brace for a potentially muted opening on the domestic front. Key corporate actions and global developments are likely to influence sentiment in today's session.
GIFT Nifty Update
The GIFT Nifty is trading at 24,675.00, down 0.29% or 71.00 points from the previous close, indicating a slightly negative start for the cash market.
US Markets
Overnight, US indices closed with mixed results. The Dow Jones Industrial Average ended 0.32% higher at 45,586.22, while the tech-heavy Nasdaq Composite slipped 0.33% to 21,482.00.
Asian Markets
Asian markets are showing a mixed trend. Japan's Nikkei 225 is up 0.46% at 42,715.68, while Hong Kong's Hang Seng Index is down 0.80% at 24,999.50.
Commodity Trends
Crude oil prices have softened, with WTI crude trading at $63.69 per barrel, down 0.72%. Gold futures are marginally lower at $3,445.40 per ounce, while silver futures have gained 1.77% to trade at $39.40 per ounce.
Currency Updates
The US Dollar has strengthened against the Indian Rupee. The USD/INR pair is trading at 87.59, down 0.04%.
FII/DII Activity
Foreign Institutional Investors (FIIs) were net sellers, offloading shares worth ₹6,516.49 crore. Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth ₹7,060.37 crore.
Block Deals
Several significant block deals were reported:
| Company | Seller | Buyer | Shares (in millions) | Price (₹) |
|---|---|---|---|---|
| UPL | Uniphos Enterprises Ltd | Nerka Chemicals Pvt Ltd | 0.98 | 723.05 |
| Nimbus Projects | Meenal Aggarwal | Samyaktva Construction LLP | 0.50 | 212.00 |
| Edelweiss Financial Services | Employee Welfare Trusts | Abakkus Asset Manager Pvt Ltd | 6.43 | 100.00 |
Latest Update for Stocks Involved in Block Deals
Edelweiss Financial Services has clarified that the recent block deal involved its Employee Welfare Trust, not promoter selling. Sunil Singhania's Abakkus Asset Manager acquired a significant stake in the company. Additionally, Edelweiss announced plans to sell up to 15% stakes in two subsidiaries to Westbridge Capital affiliates for ₹450 crore.
Key Corporate Actions
Several companies are holding their Annual General Meetings (AGMs) today, including Maruti Suzuki, Coal India, NMDC, and Jubilant FoodWorks. Dividend payouts are scheduled for companies like P&G Hygiene and Health Care (₹65.00 per share), Jyothy Laboratories (₹3.50 per share), and Route Mobile (₹2.00 per share).
Conclusion
Traders should watch for cues from global markets and monitor the impact of corporate actions on specific stocks. The mixed global sentiment and upcoming AGMs could lead to stock-specific movements in today's session.
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