ECONOMY

All You Need To Know Going Into Trade On July 13

Asian stocks opened firmer Tuesday after their U.S. counterparts notched yet more all-time highs as investors awaited second-quarter earnings season.

Benchmarks rose in Japan and South Korea, with more subdued gains in Australia, where the Sydney lockdown is weighing on confidence. U.S. contracts fluctuated after the S&P 500 and the tech-heavy Nasdaq 100 closed at new highs.

The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.77% to 15,808.50 as of 7:05 a.m.

The U.S. Treasury sold $58 billion of three-year notes at yields slightly higher than before the auction. A sale of $38 billion of 10-year notes was greeted by stronger demand. The dollar dipped against most major peers.

Oil was steady after dipping for the first time in three days as traders grappled with the demand implications of a Covid-19 resurgence in several regions and slowing economic growth in China.

IPO Watch

Digital payments firm Mobikwik has filed a draft red herring prospectus ahead of its Rs-1,900 crore initial public offering.

Pledge Share Details

Centrum Capital: Promoter Businessmatch Services (India) revoked a pledge of 38 lakh shares between June 29 and July 1.

Aurobindo Pharma: Promoter RPR Sons Advisors Pvt.Ltd., Mrs.P.Suneela Rani (jointly holding) revoked a pledge of 12.5 lakh shares between July 7 and July 9. Promoter Axis Clinicals Ltd., Trident Chemphar Ltd., and RPR Sons Advisors Private Ltd. (jointly holding) created a pledge of 12.4 lakh shares between July 8 and July 9.

Who’s Meeting Whom

Action Construction: To meet Malabar Investment Advisors on July 13.

Trading Tweaks

Record Date Final Dividend: Rajratan Global Wire, Rane (Madras), Megasoft

Ex-Date Final Dividend: Persistent Systems, Syngene International, Seshasayee Paper and Boards, Thirumalai Chemicals, Lakshmi Machine Works, Salasar Techno Engineering

Price Band Revised From 10% To 5%: Edelweiss Financial Services, Iris Clothings, Touchwood Entertainment

Price Band Revised From 20% to 10%: Equitas Holdings, Kitex Garments

Move Into Short-Term ASM Framework: Centum Electronics, Vishal Fabrics

Money Market Update

The rupee ended at 74.57 against the U.S. Dollar on Monday as compared to Friday’s closing of 74.63.

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