Market activity on Wednesday remained range-bound with selling pressure visible in the broader market and Nifty Midcap 100 ending at crucial support. For Nifty ‘hanging man’ formation was seen on a daily candlestick, which often marks a trend reversal signal after an extended uptrend. The crucial support is seen at yesterday’s low i.e. 15162 on a closing basis while resistance is seen at 15377. Today- Tata Steel, Eicher Motors, Hero MotoCorp, Aurobindo Pharma, BPCL, Oil India, Ashok Leyland, Bharat Forge, IRCTC, Page Inds
The Dow Jones and S&P 500 closed at record levels, as data indicated U.S. inflation growth may have peaked. The Dow Jones Industrial Average rose 221.22 points, or 0.63%, to 35,485.89, the S&P 500 gained 11.11 points, or 0.25%, to 4,447.86 and the Nasdaq Composite dropped 23.91 points, or 0.16%, to 14,764.18. Asian indices failed to follow a strong close on Wall Street with fears about the spread of the Delta variant of the coronavirus weighing on sentiment.
Stocks to watch
- MSCI has announced changes as a part of its August quarterly rebalance. There is no addition/deletion. There is small weight increase in Tata steel ($98m; 0.55x Adv) , Havells ($26m; 0.85x Adv).
- Grindwell Norton: Promoter KM Narang sold 1,607 shares on August 10.
- Adani Ports and SEZ: Promoter group (Gautam Adani and Rajesh Adani) revoked the pledge of 12,000 shares on August 10.
- Motherson Sumi Systems: Promoter Radha Rani Holdings Pte created a pledge of 34.42 lakh shares on August 6.
- Heidelberg Cement India: The company has entered into a power purchase agreement, share subscription agreement and shareholders agreement with Lalganj Power
- Power Grid Corporation of India: To inject Rs 425 crore in Energy Efficiency Services, a joint venture company of POWERGRID, NTPC, PFC and REC
- Indraprastha Gas: The company has entered into an agreement with Kinetic Green Energy & Power Solutions, for setting up battery swapping stations initially at Delhi/NCR and thereafter at mutually agreed locations.
- Wipro: The company has partnered with IP Infusion to drive disaggregated network solutions and foster innovation.
- Bajaj Finserv: To incorporate a wholly-owned subsidiary for alternate investments.
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