News Shots

The accounts of three foreign funds that are big stakeholders of Adani group companies are not frozen, a top official of the National Securities Depository Ltd (NSDL) informed Adani Group.

SBI Cards and Payment Service approved allotment of 5,000 unsecured NCDs of Rs 10 lakh each aggregating to Rs 500 crore on a private placement basis. The coupon rate is fixed at 5.55% per annum for a period of 3 years.

NHPC signed an MoU with Bihar State Hydro-Electric Power Corporation for execution of 130.1 MW Dagmara HE Project in the state on ownership basis. The state government will provide a grant of Rs 700 crore for the project.

JSW Ispat Special Products promoter AION Investments Private II Ltd to sell up to 21.18% of the total equity share capital through an offer for sale. The floor price of Rs 27 per share is at a discount of 52.92% to Monday’s closing price. The OFS opens for non-retail investors today and for retail investors tomorrow.

Coal India reported lower consolidated profit at Rs 4,588.96 crore in Q4FY21 against Rs 4,625.7 crore in Q4FY20, revenue fell to Rs 26,700.14 crore from Rs 27,568.23 crore YoY.

Ashiana Housing entered into a development agreement for developing a residential project with a saleable area of 8,95,000 sq. ft. in Pune on a revenue-sharing basis.

Power Finance Corporation incorporated Mohanlalganj Transmission as a wholly-owned subsidiary of PFC Consulting for the development of a transmission scheme associated with the construction of 400/220/132kV GIS Substation at Mohanlalganj in Lucknow.

SBI Mutual Fund acquired 50 lakh equity shares in V-Guard Industries at Rs 265 per share, whereas promoter Chittilappilly Thomas Kochuouseph was the seller offloading the same number of shares at a same price on the NSE.

Porinju Veliyath-owned Equity Intelligence India Pvt Ltd & EQ India Fund sold over 7.64 lakh equity shares or 1.23 percent stake in Va Tech Wabag via open market transaction on June 10, reducing shareholding to 0.64 percent from 1.87 percent earlier.

Some major Q4 result announcements today:

  • Jubilant FoodWorks
  • LIC Housing Finance
  • Power Finance Corporation
  • Lemon Tree Hotels
  • Whirlpool of India
  • Easy Trip Planners
  • BLS International Services
  • Centum Electronics
  • Entertainment Network (India)
  • Spencers Retail

What to expect today?

Yesterday, all thanks to the Adani allegation, NIFTY had a crazily volatile day. NIFTY fell 200 points to nearly 15,600 in the morning and recovered strongly to close just above 15,800. You can read all about Friday’s movements here.

BANK NIFTY continued to be weak and broke the support at 34,650 as well. But, recovery happened in BANK NIFTY as well and the index closed just below 35,000.

NIFTY IT and Pharma continued to do well. PSU BANKS also moved up yesterday.

The European markets closed flat. The US markets were down for major parts of the day but a strong rally came towards the end which made them close at fresh all time highs. 

The Fed monetary policy meeting starts today. The interest rates were expected to be maintained the same but this time there are some market participants expecting a change.

The Asian markets are trading mixed. European and US futures are trading flat.

SGX NIFTY is currently trading higher at 15,837 indicating a flat to positive opening in the Indian market.

The immediate support for NIFTY are at 15,700, 15,620, 15,570 and 15,500.

15,800-15,850 has been acting as a good resistance. Let’s see if that is respected today.

35,000 35,400, 35,500 and 35,800 are the next important resistances to be watched out for in BANK NIFTY. 

BANK NIFTY has good support at 34,650 and in the 35,000 zone.

INDIA VIX moved up slightly yesterday but is still in the 14 ranges, indicating steadiness in the market.

The highest call OI buildup is at 16,000 followed by 15,800. The highest put OI buildup is at 15,700 followed by 15,500. The PCR in NIFTY is 1.2. 

BANK NIFTY continues to have a huge call OI buildup at 35,000. Today’s open will be just around that. Let’s see what happens! 

Foreign institutional investors (FIIs) net sold worth Rs 503 crores, and domestic institutional investors (DIIs) net bought shares worth Rs 544 crores in the Indian equity market.

Even though banks have been bearish, NIFTY is scaling fresh highs everyday, thanks to IT stocks and RELIANCE.

Many analysts are suggesting a trend reversal looking at the hanging man candlestick pattern in NIFTY and BANKNIFTY. But yesterday’s price action had a different specific reason.

If RELIANCE and IT weakens and the banks continue to be bearish is where we might witness a trend reversal. So, focusing on them today.

The upside seemed limited this week but the week has started positively. So today is going to be important to set the tone for the rest of the week.

Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!