• UltraTech Cement and Bajaj Auto have announced better results than expected, with increased profits. Auto sector is attracting retail investor attention. Jubilant Foodworks announced very bad results, but it was expected
  • Rating agency ICRA warns of a deep recession in India
  • Finance Minister announced that there will be no cut in income tax rates and no more packages for supporting the economy.
  • Airline stocks will be in focus after news that flight operations will resume in a calibrated manner from 25 May.
  • News of Reliance raising another round of funds. Strengthening its digital arm with telemedicine services.
  • Global cues are positive. American markets closed in green, hitting multi month highs. SGX NIFTY is slightly down, mostly attributed to our Finance Minister announcing there are no more economic packages from the Govt.
  • NIFTY found support at 8900 range yesterday. Expected to trade between 8900 and 9100 today. Interesting to see of 9100 would be crossed and sustained. Volatility is expected like the previous days.
  • Private banks witnessed short coverings and finally moved up. Public sector banks are still suffering. Auto and pharma continue to do well.

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