Market

June 22: Here's what you should know before the opening bell

Updated : June 22, 2018 08:07 AM IST

Choppy trade for the Indian market continued ahead of OPEC meeting outcome on Thursday.

Equities failed to hold on to gains seen through the day as the Nifty closed with a fall of 31 points at 10,741, while the Sensex slipped 237 points from opening high of 35,679 to end 115 points lower at 35,432.

Here's what you should know before the opening bell

The IPO price band can be announced two working days before commencement of the offer, with markets regulator Sebi on Thursday approving various amendments to the regulations. At present, the price band has to be announced five working days before the initial share sale opens for subscription. The proposals to amend the ICDR (Issue of Capital and Disclosure Requirements) regulations were cleared by the Sebi board at its meeting.

Chemical manufacturer Fine Organic Industries' initial public offer was subscribed 39 percent on the second day of the bidding on Thursday.

The initial public offer of railways consultancy firm RITES was oversubscribed 2.11 times on the second day of bidding on Thursday. The share sale to raise about Rs 466 crore received bids for 5,32,54,320 shares against the total issue size of 2,52,00,000 shares, as per NSE data.

India on Thursday announced the imposition of retaliatory tariffs on 29 US imports with effect from August 4. The country has imposed import tariffs on boric acid, artemia, chickpea, lentils, among others. After centre hiked customs duty on 30 products imported from the US, the government on Thursday excluded American-sourced motorcycles from import duty hike, making additional customs duties imposed only on 29 items.

The Reserve Bank of India on Thursday indicated to the finance ministry that its February 12 circular on new framework for stressed assets provides enough space for resolution of bad loans in the power sector, according to a senior official. RBI made its stand clear at a stakeholders' meeting, called by the ministry to discuss the circular, the implementation of which was stayed for the power sector by Allahabad High Court. The next hearing is on July 10.

In an exclusive interview with CNBC-TV18, India's 'big bull' and a billionaire investor Rakesh Jhunjhunwala of Rare Enterprises said 2017 was a year of extraordinary gains and 2018 will be a year of consolidation.

The US dollar ended higher against the rupee at Rs 67.98 per dollar and the pound sterling finished higher at Rs 89.85 at the close of the Interbank Foreign Exchange (forex) market.

The Organisation of Petroleum Exporting Countries (OPEC) and Russia, world’s biggest non-OPEC oil producer, are holding a biannual meeting in Vienna on June 22 to decide the future of the oil market.

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