23rd June, 2020 Morning Brief

Market will open on on a positive note today. 

Wall Street’s three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries.

The Dow Jones Industrial Average rose 153.5 points, or 0.59%, to 26,024.96, the S&P 500 gained 20.12 points, or 0.65%, to 3,117.86 and the Nasdaq Composite added 110.35 points, or 1.11%, to 10,056.48.

Panic gripped Asian markets after a positive open on Tuesday morning after senior White House official Peter Navarro's comments on the U.S.-China trade deal.

📊 Nifty Outlook : 

The Nifty50 witnessed a gap-up opening but turned volatile with a positive bias before signing off the session above the 10,300 despite weak global cues over fears of a second wave of coronavirus outbreak but failed to sustain above its proven resistance of 10350 mark. Nifty50 has formed a doji candle today shows an indecisiveness among bears or bulls. Any move above 10400 and devisive closing above 10350 will lead the index7 towards 10600 levels as it could attract short covering. On the flip side, 10230 level can be considered as reliable support. 

🎯 News & Impact 🎯 

Major Results Today : Asian Paints

India very likely to announce another set of fiscal stimulus measures: Fitch. Positive for the market. 

🎯 UTI AMC gets SEBI's go ahead to launch IPO. 

🎯 Yes Bank : The Reserve Bank has asked Yes Bank not to pay interest on tier-II bonds due on June 29 as its capital levels are below the mandatory threshold. Negative for the stock. 

🎯 Hexaware : Board approved delisting of shares. 

🎯 Liberty Steel : Company to ramp up Rotherham steel mill capacity. 

🎯 PNC Infratech : Will not extend share purchase agreement with Cube Highways for 35% stake sale of their venture of the four-laning toll project in Uttar Pradesh.

🎯 8K Miles Software Services : US-based step-down subsidiary launched full-fledged operations of Healthcare Triangle Inc.

🎯 Mindteck : The company won two-year contract in the Middle East. 

🎯 Nesco : Promoter Patel Consultancy acquired 9,500 shares on June 18. Positive for the stock. 👍 

🎯 IOL Chemicals and Pharma: Promoter NCVI Enterprises acquired 14.18 lakh shares between June 8-17. Positive for the stock. 👍 

🎯 Mangalore Chemicals and Fertilizers : Promoter Adventz Finance acquired 16.15 lakh shares between June 17-18. Positive for the stock. 👍 

🎯 IndusInd Bank : Promoter IndusInd International Holdings acquired 1.39 lakh shares between June 18-19. Positive for the stock. 👍 

🎯 Shiva Cement : Promoter JSW Cement acquired 2.56 percent stake in company via off-market transaction on June 18, taking total stake to 59.31 percent. Positive for the stock. 👍

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Edited by Sharp.