News Shots

US Investment firm Morgan Stanley buys 1.10% stake in Vodafone Idea.

DLF inked an anchor deal with Standard Chartered GBS for upcoming project DLF Downtown, Taramani, Chennai.

Zee Entertainment Enterprises has unveiled a new organisational structure, dividing businesses into different verticals for content, technology, and revenue and monetisation. The company has also hired former BCCI CEO Rahul Johri in a newly created role of president – business, South Asia. Johri will be responsible for leading the integrated revenue and monetisation team at ZEE.

Reliance Jio has launched new, revamped ‘JioPages’, its Made-in-India mobile browser that is available in eight Indian languages and promises enhanced browsing experience while focusing on data privacy. The new version of the browser made its debut on Google Playstore on Tuesday.

Sebi has imposed a hefty penalty of nearly Rs 15 crore on Kirloskar Industries, certain promoters of Kirloskar Group including Atul Kirloskar, Rahul Kirloskar and five others for violating securities laws and insider trading.

HDFC has slashed deposit rates further by 10-20 basis points now, bringing them to 43-year low.

Bajaj Finserv reported a profit decline to Rs 986 crore as against Rs 1,204 crore in the corresponding quarter last year. However, revenue rose to Rs 15,052 crore as compared to Rs 14,224 crore last year.

Ultratech Cement reported a 113% YoY jump in Q2 profits to Rs 1234 crores.

Wind-turbine maker Suzlon Energy has completed a debt recast, its second in less than a decade and is now gearing up to turn profitable.

Some Major Q2 Results Announcements Today:

  • Asian Paints
  • Bajaj Auto
  • Bharti Infratel
  • HDFC Asset Management Company
  • SBI Cards and Payment Services
  • Hexaware Technologies
  • Indian Bank
  • Biocon

What to expect today?

Yesterday, volatility kicked in. NIFTY moved nearly 240 points. The resistance at 12,000 was tested and then NIFTY fell when the European markets opened in the red and kept falling. Click here for a detailed analysis of yesterday’s market and stock movements. 

Bank Nifty has taken resistance at 24,800. Remember, 25,200 is the post COVID high of Bank Nifty. We will see that getting broken very soon.

NIFTY has established 12,000 as a strong resistance and 11,800 as a strong support. These are the levels to watch out for in the coming days.

Reliance has fallen yesterday as well. Keep watching Reliance. A short covering rally is just around the corner. 

There are no updates regarding the stimulus in the US. Negotiations seem to be still going on. Elections are just 2 weeks aways. The global markets are clearly not taking this in a positive way.

US Markets are down. Europe is in deep red. Asian markets are also mostly down. SGX NIFTY is trading at 11,891, which is 25.5 points lower, indicating a gap down opening in the Indian Market. 

NIFTY is likely to trade between 11,800 and 12,000. There is support at 11,880 and 11,850 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 2,108.48 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 1,633.53 crore. FIIs have been buying heavily and thus, supporting the markets.

With the US economic stimulus uncertainty, there is indecision in the market. It is weekly expiry as well. Expect volatility. All the best for the day!