Share Market News: Easing Crude Oil Prices, Rally On Wall Street, Stocks In Focus And Other Factors Likely To Affect D-Street

Share Market News: Sensex and Nifty are likely to begin the session in green on July 4 amid positive global cues. On July 4 the Gift Nifty opened slightly higher at 25,564.5. On the other hand US indices closed higher overnight and Asian indices traded mixed in the early hours of July 4. Easing crude oil prices, changes in gold rates and key stocks which are likely to be in focus today are likely to affect trade on D-street today. The market is also expected to factor in the HSBC final India Services Purchasing Managers' Index (PMI) data, the PMI increased to 60.4 in June from 58.8 in May. Notably the services sector has posted its strongest growth in ten months in June, on the back of robust demand and cooling price pressures.

Earlier on, July 3 the headline indices finished the session lower by 170.22 points or 0.2 per cent at 83,239.47 level and the Nifty 50 closed at 25,405.30 down by 48.1 points or 0.19 per cent. Here’s a look at the key factors which are likely to affect trade on D-street today:

Crude Oil Prices On July 4

On July 4, crude oil prices eased with the West Texas Intermediate trading lower by $0.16 or 0.24 per cent at $66.84 per barrel in the early hours. On the other hand Brent Crude traded around $68.55 down by $0.25 or 0.36 per cent.

Gold Rate Today

Gold pricesn hovered near the Rs 1 lakh mark on July 4. The price of 10 grams of 24 karat purity gold is Rs 99,490, the price of 10 grams of 22 karat gold is Rs 91,210 and the price of 18 karat gold is Rs 74,630, according to the Goodreturns website.

Stocks In Focus On July 4

Reliance Industries

Reliance Industries shares are likely to be in focus on July 4 after the company informed the exchanges that its subsidiary Reliance Retail Ventures (RRVL) has made a strategic minority investment in UK-based FACEGYM.

NMDC Share Price

NMDC shares are expected to be in focus on July 4 after the company informed the exchanges that it has appointed G Anupama as Whole-Time Chief Financial Officer. The company said in the filing that Anupama is likely to hold the position till a new Whole-Time Director (Finance) os appointed.

Piramal Pharma Block Deal

Piramal Pharma shares are likely to be in focus on July 4 amid reports of a block deal. According to a report by Moneycontrol the Carlyle Group is likely to pare as much as 10 per cent stake in Piramal Pharma through block deals. The report also mentioned that firm is likely to gain around Rs 2,600–2,700 crore after the block deal.

Emcure Pharmaceuticals Block Deal

Emcure Pharmaceutical shares are expected to be in focus amid news of a block deal. A report by CNBC TV-18 cited sources who said that BC Investments IV (Bain Capital) is looking to sell a 2.4 per cent equity stake in Emcure Pharmaceuticals through block deals. The estimated size of the deal is said to be around Rs 551 crore.

Godavari Biorefineries Shares

Shares of Godavari Biorefineries are likely to be in focus after the the company informed the exchanges that it has been granted a patent in Europe for its novel anticancer molecule. The paten covers a highly potent anticancer compound.

Oil and Natural Gas Corporation (ONGC)

ONGC share price is likely to be in focus on July 4 after the company informed the exchanges that it has inked an agreement with Japan’s Mitsui O.S.K. Lines for building, owning and operating Very Large Ethane Carriers (VLECs).

Kaynes Technology India

Kaynes Technology India shares are expected to be in focus on July 4 after the company informed the exchanges that it has approved investment of $17.7 million for the acquisition of 17.52 million shares of its subsidiary, Kaynes Holding Pte.

US Markets End In Green

On July 3, Wall Street indices finished at record highs after stronger-than-expected U.S. jobs boosted investor sentiment. The DJIA finished at 44,828.53, up by 344.11 points or 0.77 per cent. The tech heavy Nasdaq finished the session at 20,601.1 up by 207.97 points or 1.02 per cent. The S&P 500 also finished at 6,279.35 up by 51.93 points or 0.83 per cent.

Asian Indices Trade Mixed On July 4

China’s Shanghai Composite traded at 3,475.24 up by 14.09 points or 0.41 per cent at the time of writing this story. On the other hand the Hong-Kong based Hang Seng, South Korea’s KOSPI and Japan’s Nikkei 225 traded lower by 0.73 per cent, 1.27 per cent and -0.15 per cent respectively.