News Shots

PM Narendra Modi addressed the nation yesterday. He reminded the citizens to be careful and follow safety procedures.

Finance Minister Nirmala Sitaraman said an option for a new stimulus is still open.

Reliance Jio and Qualcomm successfully tested 1 Gbps 5G speed in India.

Hindustan Unilever Q2 profits up 8.7% to Rs 2004 Cr (YoY). The company has announced a dividend of Rs 14 per share.

Drug firm Granules India reported a 70.82 per cent rise in its consolidated net profit to Rs 163.63 crore for the second quarter ended September 30, mainly on account of robust sales.

Hindustan Zinc has reported a 7 per cent year-on-year drop in consolidated net profit at Rs 1,940 crore for the second quarter of the financial year 2021.

Vedanta will receive Rs 5,843 crore as dividend from its subsidiary Hindustan Zinc that announced a dividend of Rs 21.30 per share.

Oil and Natural Gas Corp (ONGC) and Indian Oil Corp (IOC) have raised Rs 3,140 crore in debt(via Non Convertible Debentures) to meet business expenses.

Aavas Financiers has approved plans to raise up to Rs 100 crore by issuing bonds on a private placement basis.

Shriram Transport Finance Company has raised Rs 100 crore by issuing bonds on a private placement basis.

SpiceJet announced the launch of 62 new flights, including four international services to Muscat from Delhi and Ahmedabad and back, starting Thursday under the air bubble agreement with Oman.

Some Major Q2 Results Announcements Today:

  • Bajaj Finserv
  • Bajaj Finance
  • UltraTech Cement
  • Syngene
  • GMM Pfaudler
  • DB Corp
  • Colgate Palmolive

What to expect today?

Yesterday we saw NIFTY consolidating between 11,850 and 11,950. The IT sector regained their losses and helped NIFTY move up. Click here for a detailed analysis of yesterday’s market and stock movements. 

Bank Nifty moved up from 24,000 to 24,400. HDFC Bank also performed well yesterday.

NIFTY is trading well within a range. Today, breaking 11,950 on the higher side can lead to NIFTY touching 12,000 again.

Reliance hasn’t been performing well since many days. We can expect a short covering rally in Reliance anytime soon.

A major update regarding the US economic stimulus can come out anytime. The markets around the globe are expecting good news.

US Markets have closed higher. Europe is mixed. Asian markets are also mostly up. SGX NIFTY is trading at 11,930, which is 22.5 points higher, indicating a gap up opening in the Indian Market. 

NIFTY is likely to trade between 11,850 and 12,000. There is support at 11,930, 11,910 and 11,880 and resistance at 11,950 and 12,000.

Highest Call Open Interest at 12,500, followed by 12,000. Highest Put Open Interest at 11,000, followed by 11,500.

Foreign institutional investors (FIIs) net bought shares worth Rs 1,585.07 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 1,633.23 crore

With positive expectations from the US regarding the stimulus, we might see NIFTY touching 12,000 soon. Very soon. All the best for the day!