Mumbai. On Monday, the first trading day of the week, there is a declining trend in the Indian stock market. The market sentiment is looking weak due to global reasons. Sensex is trading with a decline of more than 450 points. Nifty is trading below 15700 with a fall of more than 140 points.
mixed signals for the market
Foreign signs are seen mixed on the first day of the week. Nikkei in Asia is trading up about a quarter percent. Markets in China, Taiwan, Hong Kong are closed. SGX NIFTY and DOW FUTURES are also under pressure. The S&P 500 closed at a record high on Friday.
Also read- LIC IPO: Government plans to raise Rs 25,000 crore from anchor investorsAction will be seen in Pharma, Healthcare due to reduction in GST
According to experts, action can be seen in the stocks related to Pharma and Healthcare today. GST on Remdesivir, OXYMETER, Medical Grade Oxygen reduced from 12 per cent to 5 per cent. Ambulances will now attract only 12 per cent GST instead of 28 per cent.
BEML: Demerger proposal approved
Let’s move towards the strategic design of BEML. The SURPLUS LAND AND ASSETS OF THE COMPANY WILL BE DEMERGE IN A NEW SUBSIDIARY. DIPAM and NITI Aayog approved. On the other hand, BEML has shown strong results in Q4 and revenue has grown by over 66 per cent.
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This week will prevail in the primary market
Today the IPO of SHYAM METALICS will open. The price band is between Rs 303-306, ANCHOR INVESTOR invested 270 crores. The issue of SONA COMSTAR will also open today. The price band is between Rs 285 to Rs 291. ANCHOR INVESTOR has invested about 2500 crores. The IPO of DODLA DAIRY and KIMS will come on June 16.
Trading will be closed in DHFL from today
Trading in DHFL will be closed from today. NSE and BSE have decided after the approval of the resolution plan from NCLT. Delist shares will be done after the resolution plan is approved