 "Stock market: A roller coaster ride for Indian equities")
Flat trades are likely to continue as investors digest the historic referendum vote where Britain decided to exit the European Union. Meanwhile, participants gear up for the June F&O expiry due on Thursday and auto sales volume data for June and India Manufacturing PMI for June due on Friday, respectively.
Progress of monsoons, crude oil and rupee movement and FII stance will dictate the trend on the bourses.
GLOBAL MARKET
Asia markets are trading mixed with Japan’s Nikkei down 0.3% and Hong Kong’s Hang Seng slipping 1% after Britain shocked the world in a historic referendum vote where it decided to exit the European Union.
Meanwhile, China’s Shanghai Composite has lost 0.5%. China's official June manufacturing purchasing managers' index will be announced on Friday, 1 July 2016. On the same day, Markit Economics will announce Caixin China General Manufacturing PMI for June 2016.
Overnight, US stocks closed about 1.5% lower extending Friday’s fall after Britain shocked the world in a historic referendum vote where it decided to exit the European Union. The Dow Jones and S&P 500 ended at their lowest since mid-March.
CORPORATE NEWS
Beleaguered Hotel Leela Venture hopes to monetise its 3.85 acre land in Hyderabad’s Banjara Hills later this year after efforts to build a luxury hotel could not materialise.
Public sector lender Oriental Bank of Commerce (OBC) is set to raise capital worth Rs 1,000 crore through Basel-III-compliant tier-II bonds. Icra has granted "AA" rating for the bonds.
Reliance Industries, owner of the world's biggest refining complex, imported 13.2% less oil in May compared with a year earlier, as it shut a crude unit at its 580,000-barrel-per-day (bpd) refinery for three weeks.
Fertiliser firm MCFL said it has given surety of Rs 225 crore on behalf of its group firm Zuari Agro for the import of phosphoric acid, ammonia and other raw materials used for the production of fertilisers.
State-run Bharat Heavy Electricals Ltd (BHEL) has commissioned two units of 14 Megawatts each at Salma Hydro Electric Project in Afghanistan.
Maruti Suzuki is ramping up production of its compact SUV Brezza and will roll out 10,000 units a month from July to cater to the strong demand for the vehicle.
MBL Infrastructures has bagged a Rs 779 crore road project from National Highways Authority of India (NHAI).
Satin Creditcare Network plans to raise Rs 100 crore by issuing bonds on a private placement basis.
