News Shots

  • RBI Monetary Policy came out well for the market. NIFTY gained nearly 80 points after the announcement. We had explained all the major announcements in an article yesterday. You can read it here.
  • LIC has acquired close to 5 per cent shareholding in Yes Bank by purchasing shares from the open market. With the fresh acquisition, the hold of LIC has increased from 0.75 per cent to 4.98 per cent.
  • Hindustan Petroleum reported a whopping three fold or 246.97 per cent jump in consolidated net profits at Rs 2,813.83 crore for the June quarter!
  • Vodafone Idea posted a net loss of Rs 25,460 crore in the June quarter on exceptional loss of Rs 19,923.20 crore. The debt-laden telecom firm had posted a loss of Rs 4,873.90 crore in the same period last year.
  • ITC’s packaged food business crossed the Rs 10,000 crore sales milestone in 2019-20, narrowing the lead of the second ranked Britannia to about Rs 600 crore. Nestle India is the leader in the segment.
  • Wipro announced it will join forces with Intel to enable Wipro’s LIVE Workspace, the company’s digital workspace solution with the Intel vProplatform.
  • Jubilant FoodWorks has stepped into the Rs 500-crore ready-to-cook condiments space, setting up direct competition with packaged foods makers including Nestle Hindustan Unilever etc  The company forayed into the FMCG category with ‘ChefBoss’ range of ready-to-cook sauces, gravies and pastes.
  • Torrent Power posted over 35 per cent jump in consolidated net profit at Rs 373.87 crore for June quarter 2020-21.
  • Q1 Results Announcement Today:
    • Bata India
    • Mahindra & Mahindra
    • Cipla
    • BEML

What to expect today?

  • Yesterday, the market was in absolute consolidation mode until the RBI announcement. Afterwards, NIFTY shot up with the banking stocks leading the rally. Then came profit booking thereby taking NIFTY down to 11,200 levels. The market has clearly accepted the announcement and the bulls have become more optimistic now.
  • US Markets are up. Asian markets are mostly down. SGX NIFTY is currently trading at 11,189, indicating a flat to a negative opening in the Indian Market.
  • NIFTY is likely to trade between 11,100 and 11,350 today. There is support at 11,140 and 11,070 and resistance at 11,260 and 11,300.
  • Highest Call Open Interest at 11,500, followed by 11,000. Highest Put Open Interest at 11,000, followed by 11,100. 
  • Foreign institutional investors (FIIs) bought shares worth Rs 637.43 crore while domestic institutional investors (DIIs) sold shares worth Rs 468 crore in the Indian equity market
  • Uncertainty is over for the banking sector. Banking stocks could be watched for a few days for good up moves.