Markets failed to sustain a higher opening on Wednesday and were followed by a reversal setup of a bearish engulfing line on a daily candlestick. Nifty ended below 19400 levels along with negative closing in India VIX. The sharp drop in USDJPY in the past few days has applied brakes to rally in the Indian markets and Sensex has further room for downside towards 64150 before we enter into a crucial support zone which may act as make-or-break levels in the near term.
Sensex Chart
Stocks to watch
Positive Read Through
- Govt likely to pass the changes in MMDRA act to allow lithium mining auctions for cos accor to reports
- Wipro to Invest USD 1B in AI Over Next Three Years, Train All Staff.
- HAL Opens Regional Office in Malaysia.
- Lupin Labs – U.S. FDA inspected Nagpur Oral Solid Dosage Facility from July 3 to July 11, 2023.
- Bharti Airtel acquires additional stake in software-defined networking co Lavelle Networks Pvt. Ltd.
- PFC- has filed a draft shelf prospectus to raise Rs 10,000 crore through NCDs.
- Aurobindo Pharma – Company gets USFDA approval for Sevelamer Hydrochloride tablet
- Vedanta – plans to begin its semiconductor, display fab foray this year pending govt approval.
- Century Textiles: Hindalco to sell Kalwa land to Century Textiles for Rs 595 cr
- SpiceJet: Chairman Ajay Singh to infuse Rs 500 crore to shore up airline’s finances
- Deep Industries: Company bags a project worth Rs 130 cr From ONGC
- Dream Folks- Co and Plaza Premium Group in partnership to include over 340+ Plaza Premium Lounges
- Hindalco- to sell Kalwa Land to Century Textiles’ arm Birla Estates for Rs 595 cr
Negative Read Through
- TCS- Q1 earnings largely in-line, Constant Currency revenue growth flat QoQ
- HCL Tech- Q1 earnings miss estimates, but retain FY24 guidance
- Delta Corp: Equirus Wealth sold 25.32 lakh shares in the company
- Patanjali: Floor price fixed at Rs 1000 per share, Patanjali Foods launches OFS to sell up to 7% equity
- Venus Remedies- trading of shares restricted by both NSE and BSE
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