Stock Market Outlook: What Will Sway BSE, NSE On June 12?

Stock Market Outlook: The Indian benchmark indices Sensex and Nifty 50 are expected to ring in green on Friday, June 12,  following strong gains across global markets after US President Donald Trump's statement cancelling his plans to strike Iran.

Market participants were buoyed by US President Donald Trump calling off strikes against Iran after initially saying the US would hit the West Asian nation "very hard." Brent Crude Oil futures slipped over 6% from Thursday's highs and hovered near $89 per barrel.

US President Donald Trump Thursday claimed that the US "just made a great settlement of the war with Iran," subject to the "finalisation of documents."

The Gift Nifty was also seen trading around the 23,523.5 level, 324 points over the Nifty futures’ previous close of 23,200.

The positive global cues come after Indian equity markets closed lower in the last session due to rising tensions in the Middle East, which impacted on investor confidence and reduced expectations of a near-term end to the conflict.

Also Read: Tata Sons Board Meet Today: What's On The Agenda?

Stock In Focus

Cochin Shipyard: Incorporated a joint venture company, Green Maritime Propulsion, in partnership with HBL ENGINEERING to develop electric mobility technology and energy storage solutions in the maritime space. Through the joint venture, Cochin Shipyard and HBL Engineering aim to leverage their core strengths to develop indigenous capabilities and products for the maritime sector, catering to both domestic and global markets. (Informist)

Cyient: Set Jun. 17 as the record date for its share buyback tender issue. The company's board had in April approved the buyback of 6.4 million shares at a price of INR 1,125 each, amounting to INR 7.20 billion. (Informist)

Dabur India: The US Food and Drug Administration issued an Import Alert (IA) 66-40 on Wednesday for drugs manufactured at the company's Silvassa plant in Dadra and Nagar Haveli. The US regulator had earlier inspected the company's manufacturing plant and identified certain deficiencies on account of data integrity and maintenance lapses.  (Informist) 

IDBI Bank: Launched an IDBI FCNR(B) Special Opportunity Deposit scheme Thursday after the Reserve Bank of India's dollar-rupee swap facility for fresh deposits, according to an update on the bank's website. 

Infosys: Will partner with IHH Healthcare, one of the world's largest private healthcare providers, to offer an artificial intelligence-based enterprise resource planning product, Infosys Topaz. The offering will be embedded in IHH Healthcare's workflow to harmonise business processes across all its markets, starting with Hong Kong, Malaysia, and Singapore. 

NLC India: Signed a memorandum of understanding with the Central Electro Chemical Research Institute of the Council of Scientific and Industrial Research for technologies related to critical and strategic minerals. The partnership will look at opportunities to explore and develop rare earth elements and other trace elements from primary as well as secondary sources.