Markets extended gains on Tuesday after a sharp surge in Bank Nifty which helped Nifty to close above 17700 levels. Markets have clearly entered into a breakout zone with upside projection seen a further 9% in the coming days. The intermediate high of 17799.95 is likely to be taken out in today’s trading session above which, we may see the next round of short covering. The breakout in Dollex 30 Index i.e., Sensex in USD terms would act as a key catalyst for the resumption of FII Buying.
Dollex 30 ie Sensex in USD
Stocks to watch
Positive Read through
- BHEL, Titagarh Wagon JV bags order for 80 Vande Bharat train sets at Rs 120 cr per set.
- Sagar Cement- ICICI Pru MF buys an entire 4.67 pct stake of PGIM India MF via block deal.
- Paras Defence arm in MoU with Spacekawa explorations for space applications.
- Time Technoplast bags order from IGL worth Rs 54 cr for the supply of CNG Cascades.
- Venus Pipes- Ashish Kacholia buys 4 lakh shares at Rs 750 a sh via block deal.
- Sula Vineyards- own brands sales up approx 15 pct YoY in Q4, wine tourism revenue up 18 pct YoY.
Negative Read through
- Delhivery- Tiger Global sells 1.6 pct stake at Rs 330 per sh via block deal.
- Delta Corp- EBITDA down 13 pct and margin slips by over 500 bps YoY.
- IndusInd Bank may miss MSCI inclusion as FPI headroom is below min level of 15 pct.
- Sanofi- Insulin Glargine comes under price control, price reduced by 21 pct.
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