Weakening rupee and selling of foreign investors stirred the stock market, Clean Science and GR Infra’s IPO to open from July 7 | Weakening rupee and selling of foreign investors stirred the stock market, Clean Science and GR Infra’s IPO to open from July 7

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  • Weakening Rupee And Selling Of Foreign Investors Stirred The Stock Market, Clean Science And GR Infra’s IPO To Open From July 7

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In the last week of volatility, Nifty also touched a life time high of 15,915. But the 5th trading day of the week closed below the crucial level of 15,800. However, in the broader market, especially small cap stocks gave good returns.

The Sensex and Nifty slipped up to 0.80% in the week ended July 2. At the same time, the BSE Smallcap index rose 2.2%. According to market experts, due to concessions in lockdown, low interest rates and the pace of vaccination, the stock market is likely to remain strong due to the sentiment.

In such a situation, 5 events will be very important for investors next week…

1.Corona virus and vaccination- There is a steady decline in new cases of corona in the country. On Saturday, 42,751 new corona patients were identified in the country. 51,775 were cured and 932 died. With this, the number of active cases, that is, the number of patients undergoing treatment, has come down by 9,986. Now the number of active cases has come down to less than 5 lakhs. However, the new delta virus has raised concerns.

2. Clean Science and GR Infra’s IPO- The primary market will see the launch of public issues of 2 new companies on 7th July, which include Clean Science & Technology and GR Infraprojects. Clean Science’s IPO size is to raise Rs 1,546.62 crore. For this, the price band of Rs 880-900 per share is also fixed. Similarly, GR Infra will also launch an issue of Rs 963 crore. The price band for investors is fixed at Rs 828-837 per share. Apart from these two, India Pesticide will be listed on the stock exchange on July 5.

3. Results of the first quarter of the new financial year- The results for the June quarter of 2021-22 will start coming. Other companies including Tata Consultancy Services, DMart, Delta Corp, Shyam Metallics may release quarterly results next week.

4. Foreign investment in the domestic market- Foreign institutional investors (FIIs) sold shares worth Rs 5,416.84 crore last week. At the same time, domestic institutional investors (DIIs) bought shares worth Rs 6,418.3 crore. For the whole of June, FII sold shares worth Rs 25.89 crore more than the total shares bought. That is, be a net seller.

5. Rupee and Dollar – The rupee weakened against the dollar last week and fell to its lowest level in two months. The rupee weakened by 56 paise to 74.74 on July 2, from 74.18 on June 25. The reason for this is the lack of clarity on OPEC+ increasing crude oil production. On Friday, the US dollar has reached the highest level of 3 months against other major currencies.

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