Markets failed to carry the positive momentum ahead on Tuesday despite trading above 18034 for most part of the trading session with final tally ending with marginal negative terrain. The 18034 levels is considered very important pivot in fight amongst bulls and bears that we may see prices triggering wild downswing and breaking the support of expanding wedge placed at 17895, If there is a gap down opening and prices trade below 18034. With Brent crude rebounding back above USD 85 a bbl, it is about to trigger next level for breakout to cross USD 110 a bbl in the coming days and this remains a key risk for the market. Below 17895 we can easily expect Nifty to hit 16500 based on price setup. Trends on SGX Nifty indicate a negative opening for the index in India with a 128-points loss. Results today- Bank of Baroda, Zomato, Affle India, Berger Paints, Glenmark Life Sciences, India Cements, Oil India, Pidilite Industries
U.S markets closed lower as profit-taking and worries over ongoing inflation fueled a broad sell-off. The Dow Jones Industrial Average fell 112.24 points, or 0.31 percent, to 36,319.98, the S&P 500 lost 16.45 points, or 0.35 percent, to 4,685.25 and the Nasdaq Composite dropped 95.81 points, or 0.6 percent, to 15,886.54. Oil prices rose to a two-week high after the U.S lifted travel restrictions boosted the demand outlook, while supply remained tight. Brent futures rose $1.35, or 1.6%, to settle at $84.78 a barrel.
Stocks in news
- FSN E-Commerce Ventures (Nykaa) -The company will make its debut on the BSE and NSE on November 10. The issue price has been fixed at Rs 1,125 per share.
- BHEL company posted consolidated loss of Rs 46.5 crore in Q2FY22 against loss of Rs 552.4 crore in Q2FY21, revenue shot up to Rs 5,112.2 crore from Rs 3,696 crore YoY.
- Indraprastha Gas reported sharply higher profit at Rs 400.5 crore in Q2FY22 against Rs 307.94 crore in Q2FY21, revenue jumped to Rs 2,015.99 crore from Rs 1,440.74 crore YoY.
- Bosch revenue growth at 18 pct, profit at Rs 372 crore vs loss of 63.9 crore
- Voda-Idea- Reports indicate Company in talks with banks for loan recast
- SpiceJet, Indigo in focus- October domestic air traffic up 67 pct YoY
Must Read: Everyone Teaches You To Save Money, But No One Teaches You How To Spend It?
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 without any cost on: http://bit.ly/Robo-Fintoo
Disclaimer: The views shared in blogs are based on personal opinion and does 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.
