Markets extended gains on Monday with the rally restricted mainly to Sensex Top 9 stocks helping Nifty to close above 19,300. The rise in India VIX along with the market move indicates caution at current levels as demand for hedges may prompt for sudden correction in the market. For Nifty, although a further upside towards 19,786 is not ruled out the possibility of such an event is remote. We expect 19,200 to act as a reversal for the current up move.
Sensex top-9 stocks chart
Stocks to watch
Positive Read through
- RIL- Reliance Jio launches Jio Bharat phone at Rs 999.
- Genus Power bags order worth Rs 2,207.5 cr.
- DMart Q1 standalone revenue from operations up 18.1 pct at Rs 11,584 cr Vs Rs 9,807 Cr YoY.
- Lupin gets US FDA nod for Cyanocobalamin Nasal Spray.
- M&M Fin- June 2023 disbursement at Rs 4,250 cr, up 12 pct YoY growth.
- Bajaj Finance- Cos fresh loans rise 34 pct from the previous year to 99.4 lahks in Q1 FY23.
- IndusInd Bank- Promoter Indusind International Holdings Ltd to raise USD 1.5 bn.
- Biocon- Company launched Biosimilar Adalimumab in the US.
- IDFC- IDFC First Bank approves the merger of IDFC Finance Holding and IDFC Limited with the bank.
- Tube Investment- Arm TI Clean Mobility signs an agreement with Anand Jayachandran to pursue an electric small commercial vehicle business.
- Zydus Life SEZ 1 manufacturing facility receives EIR from USFDA.
- Torrent Power- implemented green hydrogen pilot for city gas distribution network
- Adani Green: Company to consider fundraising on July 6 board meeting
- Chalet Hotels- Board approves fundraising of up to Rs 500 cr via NCDs
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