Markets remained more or less unchanged after the initial up move failed to cross the previous week’s high of 17,764 while Bank Nifty ended in negative terrain after crossing the 40,000 mark. The key trigger to watch out for would be the ECB policy meet tomorrow where the expectation of a Jumbo rate hike of 75 bps has been built in due to hyperinflation in Eurozone.
For the Indian markets, the sharp fall in crude prices is seen as a positive effect after Brent crude settles below USD 93 a bbl overnight. For Nifty, with a prevalence of ‘Rising three methods’, we can expect a major upswing in the coming days which may even start with a lower opening and significantly higher closing.
U.S. markets fell as the latest economic data reinforced market bets on more interest rate hikes from the Federal Reserve. Oil sinks as demand fears take the steam out of OPEC-led rally. U.S. Treasury yields rise sharply following strong economic data.
Nifty 100 Monthly chart & Sensex Daily
Stocks to watch
Positive Read through
- Paras Defence: Company Has Entered Into An Exclusive Teaming Agreement With ‘Eldis Pardubice’ S.R.O., Czech Republic.
- Biocon: Company Sells 21.8m Shares In Syngene For Rs 560.04 Per Share.
- Wipro: Wipro And Palo Alto Networks Expand Alliance To Deliver Managed Security And Network Transformation.
- PTC India: Company Says No Negotiations Related To Setting Up Plant In Nepal Has Taken Place.
- Mazagon Dock Shipbuilders: Company Says Launching Of The Third Ship Of Project Frigate ‘Taragiri’ Is Scheduled On Sept 11.
- Adani Power: Company Has Set Up A 1,600 MW Thermal Power In Jharkhand To Supply Power To Bpdb Through A Transmission Line.
- IOC: Company Issued Non-Convertible Debentures Upto 25b Rupees On Private Placement Basis.
- Interglobe Aviation: Company Says Petrus Johannes Theodorus Elbers Has Joined As Chief Executive Officer.
- HAL Says Produced The Gas Turbines Power Of Iac-1 Vikrant || IAC Is Powered By Four General Electric Lm2500 Gas Turbines Supplied By Company.
- Bajaj Finserv Says Bajaj Allianz Life Aug total new business premium INR6.69b.
- Fertiliser sector: Government may look to privatise PSUs in the sector according to reports.
- Dreamfolks: Mirae Asset India small cap bought 303446 Shares at Rs 471.51/ Share.
Negative Read through
- Oil India, ONGC- Crude prices fall overnight, Brent below USD 92 a bbl
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the sole decision of the investor and the company or any of its communication cannot be held responsible for it.
