Markets ended on a flat note on Thursday on the back of a lack of global triggers with Nifty Bank rebounding to end in marginally positive terrain. As long as Nifty Bank trades convincingly below 50 DMA, the risk of selling spreading across other sectors is likely as financials hold 35% within the Nifty 50 Index.
Also, the Next Notes Nifty 2X PR Leverage Index which is Nifty 50 in the denomination of JPY traded in Tokyo exchange has re-tested the earlier breakdown point. This would mean any further appreciation in JPYINR is likely to have a negative impact on Indian markets. In Nifty spot terms, crucial support to watch would be 19692 on a closing basis.
Sensex 30 Chart
Stocks To Watch
Positive Read Through
- Lupin – Gets tentative US FDA nod for diabetes Drug Canagliflozin with USD 561 mn US sales
- NMDC – Hikes prices across Pdts by Rs. 200/t
- Union Bank – ICRA upgrades credit rating to AAA from AA, outlook stable
- Home First – Smallcap World, Fidelity Global buyers in block deal worth Rs.7,530 mn
- Prestige Estate – Launches residential project in Bangalore, Sales potential at Rs. 5,500 mn
- Tilaknagar – Promoter sells 1.56 pct stake via block to pare pledge
- Radico Khaitan – Launches a unique pink Vodka to cater to the growing demand.
- LTI Mindtree – Launched Quantum-Safe virtual private network (VPN) link in London
- LIC – Get ready for 3-4 new product launches in the coming months, aiming for double-digit growth in new business premiums.
Negative Read Through
- Siemens – Gets service tax demand & penalty notice worth Rs. 4,74 mn
- Apar Ind – Launches QIP, company to raise up to Rs.10 bn, issue price at Rs. 5,264/sh
- Rategain – Societe Generale sells 6.16 Lk shares, was allotted 12.79 Lk Shares in QIP
- Indian Hotels – Sources say, data of 1.5 mn users exposed in Taj Hotels data breach
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