All You Need To Know Going Into Trade On April 9

Asian equities are mixed on the final trading day on the week, despite gains on Wall Street overnight.

Benchmark indices gained in Japan, fluctuated in South Korea and declined in Australia. A rise was seen on Wall Street on Thursday even as volumes set new lows for the year.

Oil prices edged higher, treasury 20-year bonds outperformed while the U.S. Dollar held losses.

The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 14,956, as of 7:00 a.m.

Let’s take a look at the factors that may influence equities in today’s session:

• Futures on the Dow Jones are trading 60 points higher. The index rose 0.2% on Thursday.
• Federal Reserve Chair Jerome Powell said that the central bank will react if inflation expectations started moving 'persistently and materially' above tolerable levels.
• Applications for U.S. state unemployment insurance saw an unexpected rise for the second straight week, rising by 16,000 to 7.44 lakh. Economists in a Bloomberg survey had estimated claims of 6.8 lakh.
• “A lot of investors are worried about the stock market highs, but that doesn’t mean it can’t get higher, and the economic conditions are certainly set up for a positive equity environment,” said Xi Qiao, managing director at UBS Global Wealth Management on Bloomberg TV.
• Yields on the 10-year treasuries were little changed at 1.64%.
• West Texas Intermediate crude rose 0.4% to $59.84 per barrel.

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Stocks To Watch

• Infosys: ArcelorMittal has announced a strategic long-term collaboration with the company for digital transformation. Infosys will help ArcelorMittal accelerate its digital transformation journey and enable next-generation application management and business process management services for ArcelorMittal Europe. The collaboration will further strengthen Infosys’ presence in Europe and will enable it to maximise synergies across the ArcelorMittal Group worldwide.
• SREI Infrastructure Finance: SREI Equipment Finance, a material subsidiary of the company, has received expression of interest from two international private equity funds - U.S.-based Arena Investors and Singapore's Makara Capital Partners for capital infusion worth $250 million. Strategic coordination committee of SREI Equipment Finance will coordinate, negotiate and conclude discussions with the PE investors to bring the capital into the business and advise the management. Ernst & Young to advise the committee on the proposed fund raising exercise. The committee will also be the nodal point for a comprehensive cash flow realignment plan with banks and financial institutions and for all external service providers, including investment bankers, lawyers and consultants. The capital infusion will provide cushion against the pandemic induced stress in the Indian financial services space.
• Hindalco: Novelis has committed to become a net carbon-neutral company by 2050. It has also committed to reduce its carbon footprint by 30% and waste to landfills by 20% by 2026. The company also aims to reduce its energy intensity and water consumption by 10% each by 2026. Further, it will continue increasing the use of recycled content in its products.
• Ashok Leyland, Siemens: Switch Mobility Automotive and Siemens have entered into a Memorandum of Understanding towards building a co-operative technological partnership in electric commercial mobility segment and execute eMobility projects in India. The MOU is aimed at delivering efficient, cost-effective and sustainable eMobility solutions to various commercial vehicle customers in India. Further, as part of the MoU, Siemens Financial Services, the financing arm of Siemens AG, will consider a minority investment in OHM Global Mobility, the eMaas platform company to be formed as a subsidiary of Switch Mobility Automotive.
• Zensar Technologies: Has announced a strategic partnership with U.S.-based Claimatic. The collaboration will enable the company to offer insurers digital solutions that will help them remain competitive and differentiate themselves. The partnership will bring together deep skills in insurance and technology strategy, product ideation, technology development and deployment, and organizational change management to support clients through successful claims automation transformations.
• Torrent Power: Board has approved the appointment of Lalit Malik as Chief Financial Officer effective May 1. Malik will replace Sanjay Dalal who will retire as the CFO on April 30. Lalit Malik was earlier CFO at Dabur.

Pledge Share Detail

• JSW Energy: Promoter JSW Investments created a pledge of 81.40 lakh shares on April 5.

As reported on April 8.

Bulk Deals

• Indiabulls Housing Finance: Market Access III-Aubrey Global Emerging Markets Opportunities Fund sold 30.80 lakh shares (0.67%) at Rs 192.7 per share.
• Apollo Pipes: Sageone Investment Advisors bought 70,151 shares (0.54%) at Rs 995.1 per share.

Who's Meeting Whom

• Prince Pipes and Fittings: To meet InCred Research Services on April 9.

Trading Tweaks

• Price Band Revised From 20% To 10%: Likhitha Infrastructure
• Record Date Interim Dividend: Rail Vikas Nigam, India Nippon Electricals, Kama Holdings
• Record Date Buyback: SIS
• Move Into ASM Framework: Central Depository Services (India), Quess Corp, Likhitha Infrastructure
• Move Into Short-Term ASM Framework: Cigniti Technologies, Panacea Biotec, Religare Enterprises

Insider Trade

• SBI Cards and Payment Services: Promoter SBI Life Insurance Company sold 4,298 shares on April 7.

As reported on April 8.

Money Market Update

• The rupee ended at 74.59 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 74.55.

F&O Cues

• Nifty April futures ended at 14,938; premium of 65 points
• Nifty April futures shed 2.8% and 4,000 shares in Open Interest
• Nifty Bank April futures ended at 32,943; premium of 161 points
• Nifty Bank April futures shed 4.4% and 3,128 shares in Open Interest
• Nifty Put-Call Ratio at 1.68
• Stocks In F&O Ban: SAIL