Markets rallied in the last hour of trade to post-closing above 18400 on the expectation that some compromise may emerge from the Ukraine-Russia war as global leaders attend the G20 meet. Nifty 50 has been stuck in trading of 18025-18513 for the past few weeks but unless 18513 is not taken out, the risk of a sudden jerk towards 14700 cannot be ruled out.
The Dow Jones index is also showing signs of a major reversal on the back of strength in the Japanese yen and we may see the impact on global markets when USDJPY breaches the 138 mark. For Nifty, we expect 18250 in Nifty futures to act as a key support below which FIIs may resort to aggressive selling.
Nifty 50 Index & Dow Jones Index
Stocks to watch
Positive Read Through
- Vedanta- says any dividend declared by Hindustan Zinc will be passed on by Co
- Apollo Tyres- Revenue growth guidance of 20 pct for standalone Co, Debt rises
- Escorts to increase prices of tractors effective today
- BEL signs multiple MoUs for military equipment
- TCS- Partners TAP Air Portugal to establish a new airline digital center
- IRCTC- Traction to continue in the ticketing business, FY23 catering revenue seen at Rs 1500 cr
- Hindustan Zinc- Board meeting today to consider 2nd interim dividend
Negative Read Through
- Nykaa- Hermes Investment Funds buys 25.8 lakh shares, Segantii India sells 33.7 lakh shares
- Fusion Micro Finance- MIT, Jignesh Shah, and PC Kothari buy 19 lakh shares.
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