7th April, 2021 Morning Brief

Market will open on a flat note today but could end with some volatility after RBI Credit policy announcement today.

Asian equities are edging higher in mid-week trading as markets trade near all-time high levels.

Futures on the Dow Jones are trading 15 points higher today. The index fell 0.3% on Tuesday.

The S&P 500 slipped on Tuesday but stayed near closing record highs posted in consecutive sessions, as investors weighed more strong U.S. economic data against nervousness about upcoming quarterly earnings reports.

The Dow Jones Industrial Average fell 96.95 points, or 0.29%, to 33,430.24, the S&P 500 lost 3.97 points, or 0.10%, to 4,073.94 and the Nasdaq Composite dropped 7.21 points, or 0.05%, to 13,698.38.

🎯 News & Impact 🎯

🎯 BSE : 

Leading exchange BSE raised Rs 18,56,366 crores ($252.95 billion) worth of funds for the Indian corporate sector through the listing of equities, bonds, REITs, InvITs and commercial papers in FY21.

🎯 Bharti Airtel : 

Announced an agreement with Reliance Jio to transfer the Right to Use of the company's 800 MHz spectrum in Andhra Pradesh, Delhi and Mumbai to Jio. Airtel will receive a consideration of Rs 1,037.6 crore for the proposed transfer.

Positive for the stock. 👍🏻

🎯 Max Financial Services : 

Axis Bank and its two subsidiaries, Axis Capital and Axis Securities, have become the co-promoters of Max Life Insurance after the completion of acquisition of 12.99% equity stake in the company.

🎯 Cholamandalam Investment & Finance : Partnered with Zoho, Razorpay, Zerodha, Ujjivan and Airpay to submit new umbrella entity application on March 31.

🎯 Anant Raj Global : 

Promoter bought 13,500 shares on March 31. 

Positive for the stock. 👍🏻

🎯 Godrej Industries : 

Arel Enterprise LLP bought 2.59 lakh shares between March 30-31. 

Positive for the stock. 👍🏻

🎯 GMR Infrastructure : Promoter GMR Enterprises sold 1.65 crore shares on March 31.

🎯 Aurobindo Pharma : 

Promoter Group revoked pledge of 36 lakh shares on April 5. 

Positive for the stock. 👍🏻

🎯 Jindal Steel & Power : 

Promoter Siddeshwari Tradex revoked pledge of 13 lakh shares on March 25. 

Positive for the stock. 👍🏻

🎯 Suryoday Small Finance Bank : 

Promoter Baskar Ramachandran created a pledge of 1.12 crore shares on March 30.