Markets for the week ended with gains but remained range bound as it struggled to sustain above 18034 despite positive global markets. The rebound has occurred after two week of consecutive losses and should be seen as a mere pullback. The Nifty has already activated major breakdown below 18034 with immediate target seen at 16500 in the near term. Thus, one should adopt caution in next few days.
U.S markets scored record closing highs on Friday and booked solid gains for the week following a strong U.S. jobs report and positive data for Pfizer’s experimental pill against COVID-19. The Dow Jones Industrial Average rose 203.72 points, or 0.56%, to 36,327.95, the S&P 500 gained 17.47 points, or 0.37%, to 4,697.53 and the Nasdaq Composite added 31.28 points, or 0.2%, to 15,971.59.
Oil prices rose on Monday after Saudi Arabia’s state-owned oil producer Aramco raised the official selling price for its crude, suggesting demand remains strong at a time of tighter supplies.
Stocks in news
Godrej Properties: sales bookings rose 18 per cent to Rs 3,072 crore during the April-September 2021 period, driven by higher demand of its residential properties in Delhi-NCR.
Tata Motors: Tata Motors-owned Jaguar Land Rover expects the semiconductor shortage situation to gradually start recovering in the remaining part of the current financial year.
Grasim: The company has successfully commissioned Chloromethane (CMS) project at Vilayat Unit, Gujarat
SJVN: Bagged 100 MW Grid connected Solar PV Power Project from Punjab State Power Corporation Ltd
PFizer: Pill to treat Covid developed by US Company Pfizer cuts the risk of hospitalisation or death by 89% in vulnerable adults, clinical trial suggests.
Cadila: Indian government to Buy 1 crore doses of vaccine from company
Gail: NCLT has granted approval for acquisition of 26% equity stake of IL&FS Group by Gail
NMDC: The company has fixed prices of iron ore. Lump ore price is at Rs 5,950 per ton, and fines rate at Rs 4,760 per ton
CDSL: Data leak at CDSL arm puts 44 mn investors at risk:
Must Read: Monthly Mutual Fund Recommendation
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