Markets ended sharply lower on the back of renewed selling in service sector-related stocks with Bank Nifty feeling the major brunt and closing below the key support of 42339. The main factor which may trigger a large-scale meltdown is diminishing support from non-institutional participants which even in yesterday’s trading remained around Rs 20000 crores.
For Sensex, the major level is seen at 60000 below which, the market could see aggravated selling.
Dow Jones in JPY and MSCI India Net USD
Stocks to watch
Positive Read through
- Maruti to unveil Concept Electric Car in Auto Expo 2023.
- Defence Cos- Defence Acquisition Council approves 3 Cap acq proposals of Rs 4,276 cr.
- Tata Motors completes acquisition of Ford Indias Sanand Mfg plant.
- Adani Ports- Haifa Port acqn concluded, concession period up to 2054.
- Lupin- FY25 sales range is USD 2.5-3 bn, margin range is 18-20 pct.
- Alkem- USFDA nod for Mirabegron used to ease overactive bladder symptoms.
- IEX- buyback opens today, buyback price is Rs 200 a sh, buyback size at Rs 98 cr.
- BSE- exchanges can launch futures contracts in corporate bond indices.
- Adani Wilmar- Q3 total revenue and edible oil volumes growth in high single digits.
- Utam Sugar- raises ethanol capacity to 250 KLPD at Barkartpur plant.
- JB Chem- domestic business to outperform the market, margin to be in 24-26 pct range.
- Metal stocks in focus- steel exports up 30 pct in Dec.
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