Markets Set to Open Lower on Irregularities at Quant Mutual Fund; Global Markets in the Red

Stock markets are expected to open in the red today, following reports of alleged irregularities at Quant Mutual Fund, a fund manager under investigation by Sebi for investment-related activities. Sebi officials recently conducted searches at Quant MF offices, which manages around Rs 80,000 crore in assets.

Global markets in the Asia-Pacific region are also facing a negative trend, with major indices like Taiwan, Kospi, ASX 200, and All Ordinaries trading lower. The US market saw mixed results on Friday, with tech shares like Nvidia experiencing profit-taking.

The US 10-year bond yield held steady amid reports of stronger-than-expected US business activity and muted inflation. Gold futures dipped while Brent Crude Oil prices remained around $85 per barrel.

Foreign institutional investors (FIIs) were net sellers on June 21, while domestic institutional investors (DIIs) bought shares. In the derivatives segment, FIIs increased their positions in index futures, with a majority in Nifty futures but selling Bank Nifty futures.

Stocks like Balrampur Chini, Chambal Fertilizers, GNFC, Granules India, HAL, Hindustan Copper, Indus Towers, and Piramal Enterprises are in the F&O ban period today. GP Eco Solutions is set to be listed on the SME platform with high demand projected for its IPO.

Four SME IPOs, including Mason Infratech, Sylvan Plyboard (India), Visaman Global Sales, and Shivalic Power Control, are opening for subscription today. Additionally, two other SME IPOs, Winny Immigration and Education Services and Medicamen Organics, are also available for investment.