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Sensex closes 393 pts higher, Nifty at 15,792; IT, banks rally; RIL ends in red

Market closing: Sensex, Nifty close nearly 0.70% higher on Thursday. (MINT_PRINT)Premium
Market closing: Sensex, Nifty close nearly 0.70% higher on Thursday. (MINT_PRINT)

  • Market closing: Benchmark Indian equity indices closed around 0.70% higher on Thursday. Amid key announcements at RIL’s AGM, the Sensex closed at 52,699.00, up 392.92 points, or 0.75%, while the Nifty was 15,792.05, up 105.10 points, or 0.67%. Media, pharma, PSU banks closed in red

Sensex, Nifty retained the growth trajectory at day's start to end the day nearly 0.70% higher on Thursday. All eyes were on the RIL AGM, wherein key announcements around its energy, digital and retail business were made. Moreover, Saudi Arabia's state-owned oil company Aramco's president, Yasir Al Rumayyan, who is also governor of the sovereign wealth fund PIF, will join RIL's board as an independent director. Earlier, Asian markets closed in green. Amid guesswork around conflicting voices in the Fed around liquidity draining, markets will brace for reports on US durable goods orders, initial jobless claims and wholesale inventories later today.

24 Jun 2021, 03:47:35 PM IST

Market closing

Benchmark Indian equity indices closed around 0.70% higher on Thursday. Amid key announcements at RIL’s AGM, the Sensex closed at 52,699.00, up 392.92 points, or 0.75%, while the Nifty was 15,792.05, up 105.10 points, or 0.67%. Media, pharma, PSU banks closed in red. On the 30-share Sensex, Infy, TCS, Tech Mahidnra, and 18 other stocks closed in green. PowerGrid, Bharti Airtel, SBI and 6 other stocks ended in red. RIL, whose chairman Mukesh Ambani unveiled key initiatives such as a shift to new energy, carbon neutrality, a budget smartphone, among other announcements, ended the day in red.

Sensex at close
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Sensex at close
24 Jun 2021, 03:32:34 PM IST

RIL AGM: Reliance Retail update

-12,711 stores

-Ajio 25% of apparel biz

-4,5 cr units of electronics delivered

-JioMart registered 6.5 lakh peak orders in one day

-80% repeat shoppers

-support to kiranas

-2X growth in kirana orders

-to onboard 1 cr merchant partners in the next 3 years

-65,000 new jobs created

-employment of over 10 lakh people anticipated in the next 3 years

-research, design, tech, innovation centres to be setup

-sourcing ecosystem to be spruced up

-expansion of store footprint

24 Jun 2021, 03:24:21 PM IST

RIL AGM: Jio Fibre update

-growth slower than expected due to pandemic

-acquired more than 2mn new premises

-cumulative strength of 3 mn premises

-largest fixed broadband operator in India

-3.5X data consumption growth YoY

Sir HN Reliance Foundation hospital deploying 5G tech for

-remote doctor facility

-telemedicine

-Reliance Foundation schools using 5G tech to create AR VR content for students

24 Jun 2021, 03:22:46 PM IST

RIL AGM: Tech announcements

-Google Cloud to power 5G solutions for JioMart, Reliance Retail and Jio Saavn

-WhatsApp-JioMart trial integration encouraging

-Microsoft-Jio Azure cloud data centres launched in Jamnagar and Nagpur

-AI-ML, blockchain forays made and IP developed under Jio

24 Jun 2021, 03:19:26 PM IST

Sunder Pichai elaborates on RIL-Google partnership

-Smartphone development part of Google for India Digitization Fund.

- Dedicated Android platform for the budget phone

- Google Cloud + Jio partnership eyes small biz support; new services in sectors such as health

-RIL core retail biz to be shifted to Google Cloud

24 Jun 2021, 03:16:38 PM IST

RIL AGM: Jio stats

-400 mn subscribers outside China

-World's second largest operator servicing 630 cr GB/ month

-largest operator of 4G spectrum in India

-capacity to onboard additional 200 mn customers

24 Jun 2021, 03:12:02 PM IST

RIL AGM: JioPhone Next launched

Affordable 4G Smartphone to made India '2G mukt'

Google-Jio next gen feature rich smartphone

-voice assistant

-auto read aloud

-smart camera with AR features

-available from Ganesh Chaturthi 10 Sept

-'Cheapest smartphone in the world,' Mukesh Ambani says

24 Jun 2021, 03:08:33 PM IST

RIL O2C net zero carbon aims

-New materials and green chemicals

-India's first carbon fiber plant for hydrogena and solar systems

-Solar energy to decarbonise O2C biz. become net zero

-commercialise and optmise catalytic cracking tech

24 Jun 2021, 03:07:43 PM IST

Part 3 of RIL new energy biz strategy

Build 2 addn divisions:

-renewable ebergy project management and construction dvisions-end to end solutions

-project finance division

-funded by relationship banks and global funds

24 Jun 2021, 03:07:12 PM IST

Part 2 of RIL new energy biz strategy

-Infra for 4 giga factories

-Jamnagar facility to provide infra to produce ancillary support

-support to independent manufactures

-invest 15,000 crore in value change partnerships

-Total initial investment: 75,000 crore in the next three years

24 Jun 2021, 03:04:34 PM IST

Part 1 of RIL new energy biz strategy

1.Integrated solar photvoltaic module factory

-to manufacture wafers to be used in solar panels

enable 100GW solar energy by 2030-rooftop panels in rural India


2.Advanced energy storage battery factory


3.Electralyser Giga factory for hydogen fuel

-Captive prodcution of green hyrogen for domestic use and international supply


4Fuel cell factory

-O2, hydrogen captured to generate energy

-fuel cells to replace internal combustion engines

-stationery applications for data centres, etc

24 Jun 2021, 02:58:05 PM IST

Dhirubhai Ambani green energy giga complex setup in Jamnagar

-4 giga factories to manufacture and integrate componenets of new energy ecosystem

-solar photvoltaic module factory

-intermittent advanced energy storage battery factory

-electralyser factory for hydogen fuel

-Fuel cell factory

24 Jun 2021, 02:54:45 PM IST

RIL to launch new energy biz as part of net carbon zero strategy

-India will play a leading role in changing global energy landscape

-RIL to lead in this direction

-RIL new energy biz to be a global biz

24 Jun 2021, 02:52:53 PM IST

RIL AGM: Board changes

YP Trivedi to retire after 30 years

Yasir Al Rumayyan, PIF governor and chairman, Aramco, to join as independent director

24 Jun 2021, 02:52:15 PM IST

RIL AGM: KGD6 basin update

KGD6 basin BP-RIL commence production

3rd deepwater MG field to be oeprationalised

RIL to become one of the largest domestic producers of gas in India

24 Jun 2021, 02:50:53 PM IST

RIL O2C biz

Aramco to be welcomed as partner

To be formalised this year

24 Jun 2021, 02:50:20 PM IST

RIL AGM: Reliance retail

Cons. revenue 153,818 cr

Ebitda 9,842 cr

24 Jun 2021, 02:49:37 PM IST

RIL AGM: Jio Platforms

Cons. revenue 86,493 cr

Ebitda: 33,259 cr

37.9 mn subscribers

425 mn consumers served

24 Jun 2021, 02:46:05 PM IST

RIL AGM

-Net profit 53,739 cr up 34.8%

-Cons. revenue 5,40,000 cr

-Dividend hiked

-6.8% of India's total merchandise exports

-Added 75,000 new jobs

-21,044 cr Excise tax paid

- 85,306 cr GST paid

- 3,215 cr IT paid

-$44.4 million fundraise

-Rights issue: retail shareholders made 4X returns in just one years

-net debt free balance sheet ahead of March 2021 achieved

24 Jun 2021, 02:34:29 PM IST

RIL AGM: Jio health hub for vaccine outreach

-Reliance Foundation to make hub freely available to all users

-1 lakh vacicination capavcity per day

-Vaccinating all 20 lakh of 'extended family' - ex-employees, partner cos

24 Jun 2021, 02:33:22 PM IST

RIL AGM: Employee relief

-Medical coverage

-salary to be paid to infected employeess' family

-lump sum amount of 10 lakh to off the book employees

-No job/ salary/ bonus cuts

-WFH across the group

24 Jun 2021, 02:30:33 PM IST

RIL AGM: Mission Anna seva

-Largest meal distribution programme

-7.5 cr free meals to marginalised communitites, daily wagers, frontline workers

24 Jun 2021, 02:27:55 PM IST

RIL AGM: Mission covid infra:

-2,000 beds for covid care across India

-Covid testing lab with 15,000/day capacity launched

24 Jun 2021, 02:25:35 PM IST

RIL AGM Update

-Nita Ambani enumerates Reliance Foundation's covid initiatives

-Jio Institute to become operational

-RIL producing 11% of India's medical grade liquid oxygen

-100 new tankers for medical O2 procured

-O2 generators distributed

24 Jun 2021, 02:18:39 PM IST

Paytm extends deadline for shareholders to submit documents for share sale

Digital payments and financial services firm Paytm has extended the deadline for shareholders, employees and former employees to submit their documents by June 30, if they wish to sell their shares in the planned initial public offering of the company. One 97 Communications, which operates services under the Paytm brand name, is planning an initial public offering or IPO of its equity shares which is contemplated to include a fresh issue of equity shares by the company and an offer-for-sale of equity shares by the existing shareholders of the company. (Read here)

24 Jun 2021, 02:14:35 PM IST

Mastercard appoints Nikhil Sahni as country corporate officer for India

Mastercard on Thursday said it has appointed Nikhil Sahni as its new division president, South Asia and country corporate officer for India, taking over from Porush Singh who will relocate to Singapore. Sahni joins Mastercard with nearly 25 years of experience across strategy, investment banking, corporate, commercial, SME, retail, branch, and government banking, it said in a statement. (Read here)

24 Jun 2021, 01:58:53 PM IST

JB Chemicals eyes acquisitions to bolster market share: CEO

US private equity giant KKR backed JB Chemicals & Pharmaceuticals Ltd (JBCPL) is sizing up assets including select branded portfolios, and a mid-sized pharmaceutical company, to increase its market share in India, JBCPL chief executive Nikhil Chopra said in an interview. "There are some assets we are evaluating," Chopra said in an interview to Moneycontrol.com. "The closure would be dependent on the valuations," he added. Chopra declined to name the companies with whom JBCPL is in talks.

24 Jun 2021, 01:51:11 PM IST

Indian Bank, Canara Bank among top drags

Nifty PSU Bank index
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Nifty PSU Bank index
24 Jun 2021, 01:37:11 PM IST

Sensex heatmap

Tech stocks top gainers
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Tech stocks top gainers
24 Jun 2021, 01:34:55 PM IST

Mindspace Reit commits to 100% renewable electricity use by 2050

Mindspace Business Parks Reit on Thursday said it has joined the global RE100 initiative led by Climate Group in partnership with the Carbon Disclosure Project (CDP). With this, the Mumbai-based firm said it has committed to transform to 100% renewable electricity use across all areas serviced and maintained within its portfolio by 2050. Mindspace Reit will also make renewable energy accessible to tenants who choose to avail of the green power. Its commitment towards mitigating environmental impact across project lifecycles is in sync with the mission of RE100, which is to accelerate change towards zero carbon grids at scale. (Read here)

24 Jun 2021, 01:19:38 PM IST

Twitter adds first Indian payments aggregator for Tip Jar feature

Social media platform Twitter has added the first payments operator to its Tip Jar feature, which allows Twitter users to pay creators for content. The company announced a tie-up with Razorpay today, though the feature is only available to “select users" right now. Integrating Razorpay allows Twitter users to pay creators through credit and debit cards, along with UPI, net-banking and payment wallets in India.

24 Jun 2021, 01:04:51 PM IST

Fitch upgrades RIL rating a notch above India's sovereign rating

Fitch Ratings has upgraded Reliance Industries Ltd's (RIL) rating to 'BBB', one notch above India's sovereign rating, as the company benefits from cash flow generation across diversified business segments and continuation of deleveraging. In a statement, Fitch said it has upgraded RIL's long-term foreign-currency issuer default rating (IDR) to 'BBB', from 'BBB-', with a negative outlook. At the same time, the agency has affirmed RIL's long-term local-currency IDR at 'BBB ' with a stable outlook. RIL's local-currency IDR reflects the company's strong business profile, with market-leading positions and diversified cash flow from a mix of oil-to-chemical (O2C) and consumer businesses, as well as lower net leverage.

24 Jun 2021, 12:55:14 PM IST

JPMorgan 'overweight' on SBI Card

JPMorgan has initiated coverage of SBI Cards and Payments Services Ltd, with an 'overweight' rating. The on SBI Card with a target price of 1,200. The brokerage house expects the pent-up demand to come up very strongly in terms of card spend.

24 Jun 2021, 12:45:57 PM IST

Yash Gupta, equity research associate, Angel Broking Ltd on India Pesticides Ltd's IPO

“India Pesticides Ltd’s (IPL) overall IPO was subscribed by more than 1.64X as on 10:30 am of day two of the offering, receiving very good response from retail investors. Retail individual category was subscribed by more than 3.18X. As of now, qualified institutional and non-institution categories have not shown much interest, but we expect them to receive a good response at the end of the IPO on day three. If we look at the grey market premium of the IPO, it was volatile for the last 2-3 trading days. It is now trading at around premium of 20-30%. Fundamentals and valuations of the stock looks good and FY2021 PE of 24.5X and EV/ebitda of 18.2X at upper band of the IPO price, are slightly better than peers. Similarly, the company has one of the best ROE & ROCE of 34% and 45%, respectively. IPL has a healthy balance sheet with negative net debt to equity. We expect the upcoming expansion plan and higher capacity utilisation will be the growth drivers for the company in future. We are assigning a ‘Subscribe’ recommendation to the issue."

24 Jun 2021, 12:37:37 PM IST

DCW gains over 8%

DCW Ltd's stock was trading at 40.80 apiece, up 8.51% at 12:37 pm. India Ratings & Research recently upgraded and assigned a BBB+ with a stable outlook to the specialty chemcicals company.

24 Jun 2021, 12:29:49 PM IST

CBI raids CG Power in band fraud case: reports

24 Jun 2021, 12:20:37 PM IST

TCS, Infy, Mindtree drive gains

Nifty IT index
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Nifty IT index
24 Jun 2021, 12:15:29 PM IST

Orchid Pharma trades lower

Orchid Pharma’s stock was trading at 1,187.85, down 10.00% at 12:09 pm. Company promoter Dhanuka Laboratories Ltd has announced an OFS with a 70% discount floor price of 375 per share to conform to the shareholding requirements for promoters. The promoter has proposed to sell an 8.04% stake in Orchid Pharma for non-retail investors on 24 June and retail investors on 25 June.

24 Jun 2021, 12:08:06 PM IST

Sobha, Oberoi realty top drags

Nifty realty index
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Nifty realty index
24 Jun 2021, 11:59:49 AM IST

Vardhman Special Steels to hike prices

Vardhman Special Steels has completed price negotiations for Q1 with our OEMs, Redbox said in a tweet. The price increase is in the range of 5,000 - 6,000 per tonne. Stocks with exposure to auto industry manufacturers are likely to witness an uptick, according to CNBCTV18.

24 Jun 2021, 11:45:21 AM IST

S&P cuts India's FY22 growth forecast to 9.5%

S&P Global Ratings on Thursday cut India's growth forecast for the current fiscal to 9.5% from 11% earlier, and warned of risk to the outlook from further waves of the covid pandemic. The agency lowered the growth outlook saying that a severe second covid-19 outbreak in April and May led to lockdowns imposed by states and sharp contraction in economic activity. “We forecast growth of 9.5% this fiscal year from our March forecast of 11%," S&P said. Stating that permanent damage to private and public sector balance sheets will constrain growth over the next couple of years, it projected India's growth at 7.8% in the next fiscal ending 31 March 2023.

24 Jun 2021, 11:37:16 AM IST

Yash Gupta, equity research associate, Angel Broking Ltd, on Apollo Hospitals Enterprise

Apollo Hospitals reported total revenue from operations at 2,868 crore, down by 1.9% year-on-year (y-o-y), from 2,922 crore in Q4FY20. Hospital revenue has done well, up by 10.1%, to 1,542 crore. Occupancy levels are at similar levels of 63% and average room rental per occupied bed (ARPOB) was up by 11%. Adjusted ebitda for the quarter at 432 crores was up by 13.7% as compared to 380 crore in Q4FY20. Ebitda margins have improved from 13% to 15.1% in Q4FY21. Profit after tax for the quarter came in at 169.8 crores in Q4FY21 as compared to 224.2 crore in Q4FY20, owing to an exceptional item of more than 190 crores in Q4FY21. Apollo Hospital has reported a good set of numbers for Q4FY21. Hospital business has done well for the company and pharmacy business was flat for the quarter (adjusted for the sale of front-end business). We have a buy recommendation for Apollo Hospitals with target price of 3,700.

24 Jun 2021, 11:32:06 AM IST

RBI allows gold loan repayment in bullion

RBI has notified that gold borrowers will not have the option to repay a part of their loan in physical gold in lots of 1 kg or more. This will be subject to certain requirements. Among several restrictions, the gold loan needs to be made against locally sourced / gold monetization scheme-linked gold; the repayment must be using gold that confirms to India Good Delivery Standard or LBMA’s Good Delivery Standards. The gold will be delivered directly by the refiner or a central agency to the lender of behalf of the debtor; the borrower will not be involvement directly.

24 Jun 2021, 11:21:35 AM IST

RIL trades lower

RIL's stock was trading at 2,180 apiece, down 1.10% at 11:10 am, ahead of the group AGM scheduled for 2 pm today. All eyes will be on the RIL chairman Mukesh Ambani giving an update of the budget 5G smartphone being developed in partnership with Google, announced at last year's AGM. The oil to consumer conglomerate is also expected to update investors about the deal with Aramco, which has been delayed owing to multiple developments. News of an Aramco official joining the on the company's board as part of the deal will also need clarification. The group's aggressive push on retail expansion, online and offline, has been evdent over the past year. Markets will be keen for an update on this vertical as well. The chairman's speech also emphasised the need for RIL to become a net-zero carbon business.

24 Jun 2021, 11:02:15 AM IST

Shyam Metalics, Sona Comstar trading over 24% higher

Sona Comstar's stock was trading at 71.85 each, up 24.69%, while SHyam Metalics was up25.10% to 76.80 apiece at 11:01 am.

24 Jun 2021, 10:57:39 AM IST

Gold prices today fall to near 2-month lows, silver rates slide

Gold prices in India remained weak near two-month lows today as futures on MCX fell 0.4% to 46,881 per 10 gram. Silver futures too were lower, down 0.6% to 67,520 per kg. If MCX gold is unable to move past 47500, then there are chances of a continuation of corrective selloffs, says domestic brokerage Geojit. Meanwhile, a close below 46400 is an early signal of long liquidation pressure. (Read here)

24 Jun 2021, 10:43:19 AM IST

Rupee rises 9 paise to 74.18 against US dollar in early trade. PTI DRR ANS ANS

24 Jun 2021, 10:35:02 AM IST

Sona Comstar stock debuts 3.78% higher

Sona Comstar shares opened 3.78% higher on the BSE at 302 apiece compared to the issue price of 291, which was the upper end of the price band of 285-291 per share. At 10.07 am, the scrip was trading at 304.60 on BSE, up 4.67% from its issue price.

24 Jun 2021, 10:27:07 AM IST

Shyam Metalics listed at 24.18% premium on exchanges

Shares of Shyam Metalics and Energy Ltd made a firm debut on stock exchanges on Thursday. The share was listed at 380, 24.18% increase from its issue from 306. The 909-crore initial public offering (IPO) of Shyam Metalics was subscribed 121.43 times in its share sale during 14-16 June.

24 Jun 2021, 10:10:02 AM IST

Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments on Nifty trajectory

"The Nifty has a resistance around 15,900 and it is having trouble getting past that. If we manage to get conquer this level, we should be headed to 16,100. A good support lies at 15,400 and as long as that holds on a closing basis, we are in bullish territory and traders should utilize drops or corrections to add long positions to their trading portfolios."

24 Jun 2021, 10:05:34 AM IST

RIL’s EdTech could be worth $7-8 bn if it gets 10% share by CY25: Credit Suisse

Reliance Industries Ltd (RIL), though a late entrant into the Edtech space, could still corner at 10% market share by 20205 with a valuation of $7-8 billion, say analysts. Currently, RIL’s EdTech is valued at $3.5 bn, as it is yet to announce its entire bouquet of services.

24 Jun 2021, 09:49:31 AM IST

Apollo Hospitals restructures with eye on value unlocking via new investment: CEO Suneeta Reddy

The announcement of multichannel Apollo Health Co. which combines pharmacy, 24X7 app, Apollo apps, and aims to include diagnostics, indicates talks with potential investors, Apollo Hospitals managing director Suneeta Reddy said. The company expects value unlocking of 1,000 crore with a further DCF valuation of 700 crore. The company expects to hold 80% of hospital business after new investors come in, Reddy said. It will take another quarter before a deal is announced, she added. The company is eyeing brownfield acquisitions in hospital business.

24 Jun 2021, 09:41:15 AM IST

Godawari Power Ispat gains

The stock was trading at 1,379 apiece, up 3.93% at 9:32 am. The company's enhancement of iron ore production capacity from 1.405 MTPA to 2.35 MTPA in Ari Dongri iron ore mines situated at Village Kachche, district Bastar, Kanker, Chhattisgarh and for setting up of beneficiation plant of 0.6 MTPA capacity, has been provided environment clearance by the government of India.

24 Jun 2021, 09:31:31 AM IST

Auto sector drags

Nifty sectoral indices
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Nifty sectoral indices
24 Jun 2021, 09:19:52 AM IST

Market opening

The Sensex opened at 52,514.57, up 208.49 points or 0.40%, while the Nifty was at 15,737.30, down 50.35 points, or 0.32%. Infy, TCS, Titan, ONGC were among top gainers.

Sensex at open
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Sensex at open
24 Jun 2021, 09:11:59 AM IST

Market pre-opening

The Sensex was at 52,514.57, up 208.49 points, or 0.40% at market pre-opening, while Nifty was at 15,737.30, up 50.35 points, or 0.32%.

Sensex at pre-open
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Sensex at pre-open
24 Jun 2021, 09:00:05 AM IST

India Pesticides Limited IPO: What's grey market premium signaling for the issue

India Pesticides Limited IPO (Initial Public Offering) opened for subscription yesterday and it got fully subscribed on first day of bidding. The public issue of the agrochemical manufacturer was subscribed 1.29 times on first day of bidding as there were bids for 2.49 crore equity shares of the company against 1093 crore equity shares offer. However, India Pesticides Limited IPO GMP (grey market premium) today has dipped around 50 per cent from its yesterday premium. India Pesticides Limited IPO GMP today is 38, which is almost half from its yesterday's price of 68 to 70. According to market observers, this dip in the share price premium in grey market should not be taken seriously as the fundamentals of the company is important instead of this unofficial grey market. (Read here)

24 Jun 2021, 08:43:56 AM IST

Petrol, diesel prices hiked today: Consumers brace for fuel at ₹100 in Patna, Thiruvananthapuram

Fuel prices were hiked yet again on Thursday to near the psychological mark of 100 in more state capitals. After remaining steady for a day, petrol got costlier by 26 paise in the national capital, while diesel rose by 7 paise, according to price notification by the oil retailers. The thirteenth increase of this month took the cost of petrol in Delhi to 97.76 per litre while diesel is currently retailing at 88.30. In Mumbai, petrol is being sold at 103.89 per litre, whereas diesel has reached 95.79 per litre. (Read here)

24 Jun 2021, 08:31:26 AM IST

Jaypee Infratech creditors vote for Suraksha group RP: reports

Jaypee Infratech's creditors have voted in favour of Suraksha group's resolution plan (RP) for the troubled infra company's debtors, according to media reports. The RP was chosen over NBCC's proposal. The two proposals were vying for Jaypee's assets and had recently submitted revised bids to the company's committee of creditors. Srei Infra's intervention may have tilted the vote in favour of Suraksha group consortium, according to media reports.

24 Jun 2021, 08:16:26 AM IST

Market outlook

Markets are likely to be volatile on Thursday while trends in SGX Nifty suggest a positive opening of Indian benchmark indices. On Wednesday, the BSE Sensex ended at 52,306.08, down 282.63 points or 0.54%. The Nifty was at 15,686.95, down 85.80 points or 0.54%.

24 Jun 2021, 08:02:46 AM IST

Amazon services down for multiple users - Downdetector

Amazon.com Inc's platforms including Alexa and Prime Video were down for multiple users late Wednesday, according to outage monitoring website Downdetector.

More than 4,000 user reports indicated issues with Amazon's online store site, while over a thousand users reported problems with Prime Video and 300 with Alexa, according to Downdetector.

The issue affecting the sites was not immediately clear.

24 Jun 2021, 07:51:53 AM IST

John McAfee, antivirus software pioneer, dead in prison cell

John McAfee, the creator of the eponymous antivirus software, was found dead Wednesday in prison outside Barcelona. He was 75.

In recent years, McAfee became a prominent booster of cryptocurrencies, ran unsuccessfully for U.S. president, had numerous run-ins with the law and traded in extreme conspiracy theories.

McAfee was discovered dead in his prison cell hours after Spain’s National Court approved his extradition to the U.S. over multiple tax fraud charges. Security personnel at the Brians 2 prison in northeast Spain tried but failed to revive him, the Associated Press reported, citing a statement from the region’s government.

24 Jun 2021, 07:51:19 AM IST

Asian markets steady at open

Asian stocks opened mostly steady Thursday after U.S. shares moved in narrow ranges as traders digested commentary from Federal Reserve officials on the outlook for stimulus. Treasuries held a retreat. Shares slipped in Japan and Australia, and rose in South Korea, while futures pointed lower in Hong Kong. U.S. contracts climbed, after a modest drop in the S&P 500 despite gains among firms that benefit from economic reopening.

S&P 500 futures rose 0.2% as of 9:20 a.m. in Tokyo. The index fell 0.1%

Nasdaq 100 futures climbed 0.2%. The gauge was little changed

Japan’s Topix index slipped 0.2%

South Korea’s Kospi index climbed 0.2%

Australia’s S&P/ASX 200 retreated 0.2%

Hang Seng futures fell 0.1%

SGX Nifty rose 0.47%

24 Jun 2021, 07:30:15 AM IST

Wall Street sees mixed closing

Wall Street shares were mixed on Wednesday, with the Nasdaq closing at a record high, while other major U.S. indexes ended lower alongside European stocks as traders eyed the latest statements from Federal Reserve officials. Strong manufacturing data and a rally in Tesla Inc lifted the Nasdaq, which gained 0.13%. The Dow Jones Industrial Average fell 0.21% and the S&P 500 lost 0.11%.

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