The morning of Thursday, June 18 brought many big questions for the stock market investors. On one hand, an important agreement has been reached between America and Iran, due to which crude oil has started becoming cheaper all over the world. This is no less than a big good news for a country like India, because we import most of the oil we need. But, despite this good news, there was no special enthusiasm on Dalal Street today. In fact, the pressure coming from the global market has put a brake on the pace of the Indian market.
Fed Reserve’s hawkish stance is raising concerns
The stock market had a very slow start today. Around 9.15 am, Nifty stood at 24,090 with a slight gain of just 4 points, while Sensex slipped 19 points to 77,136. Yesterday on Wednesday, the market had performed brilliantly, where Sensex jumped by 347 points to close at 77,156 and Nifty increased by 97 points to close at 24,086. But today that momentum is missing. The biggest reason for this is America’s central bank i.e. the Federal Reserve. At present, the Federal Reserve has not made any change in the interest rates, but the indications given for the future have alerted the investors. The projections of ‘dot plot’ are showing that interest rates may increase in the year 2026. This apprehension has spoiled the mood of the global equity market. If we look at the sectoral level, today the IT sector is bearing the brunt of it, in which heavy selling is being seen.
Shares of midcap companies are bright
Even though big indices like Sensex and Nifty are looking tired, there is still buying power left in small and medium stocks. Talking about the broader market, Nifty Midcap Index is trading in the green with a strength of 0.17 percent and Nifty Smallcap Index is 0.24 percent. This simply means that common investors are still looking for opportunities in selected stocks. Leaving aside IT, sectors like Nifty PSU Bank, Nifty Metal and Consumer Durables are trying their best to handle the market.
If we look at the condition of foreign markets, mixed signals are being received from Asian markets today. On one hand, GIFT Nifty is up 123 points, Japan’s Nikkei has jumped 988 points and Taiwan’s market is showing a rise of 498 points. On the other hand, there is a huge fall of 465 points in Hong Kong’s Hang Seng and the Korean market Kospi has also fallen by more than 1 percent.
Crude oil became cheaper
Today the biggest movement in the market is on the crude oil front. An interim agreement has been sealed between America and Iran. Under this, the important trade route of ‘Strait of Hormuz’ will be opened and American sanctions on Iranian oil will also be relaxed. As a result, Brent crude has fallen by 1.48 percent in the international market to $ 78.37 per barrel, that is, it has slipped below the important level of $ 80. Cheapness of crude is very positive for the Indian economy, because it reduces the import bill of the country. However, the rupee has weakened slightly in the currency market today. The Indian rupee opened 16 paise down at 94.69 against the dollar, which had closed at 94.53 in the last trading session.
New IPOs are offering investment options
If you are looking for an opportunity to invest money in the primary market i.e. IPO, then today two new doors are opening for you. The IPOs of Riyasat Lifestyle and Aviance Biomedicals have become available for subscription from today. Both of these are book-built issues and are based entirely on fresh equity shares. The issue size of Riyasat Lifestyle is Rs 30.77 crore and that of Aviance is Rs 30.24 crore.
Apart from this, there is a lot of activity in the SME segment also. Today is the second day of investing money in the IPOs of Leapfrog Engineering, Leotech Industries, Diksha Polymers and Clay Craft. Among these, the issues of Diksha Polymers (Rs 17.90 crore) and Clay Craft (Rs 0.54 crore) are completely fresh.
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsha advises its readers and viewers to consult their financial advisors before taking any money-related decisions.
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