News Shots

Sobha achieved a total sales volume of 13.37 lakh square feet worth Rs 1,072 crore in the quarter ended March. Sales volume, total sales value and total price realisation up by 48%, 54%, and 5% respectively compared to previous year.

Avenue Supermarts standalone revenue from operations in the fourth quarter stood at Rs 7,303.13 crore as compared to Rs 6,193.53 crore in the same period last year. In FY21 the company opened 22 new stores and converted two stores into fulfilment centers for Avenue E-commerce.

Ircon board has approved the issuance of fully paid-up bonus shares in the ratio of 1:1. The company will give one free share for every share of Rs 2 each, subject to the shareholders’ approval.

The Russian Direct Investment Fund has signed an agreement with Panacea Biotec to produce 100 million doses per year of Sputnik V in India.

Jindal Steel & Power sales in March up 61% year-on-year at 7.86 lakh tonnes. Production up 21% year-on-year at 7.30 lakh tonnes.

Maruti Suzuki total production in March up 86.33% to 1.72 lakh units vs 92,540 units last year.

A major fire had broken out in the cotton warehouse in the manufacturing facilities of Trident in Budhni, Madhya Pradesh. The fire has resulted in major damage to stocks of cotton lying in the warehouse.

HDFC will acquire a 9.90 per cent stake in Kerala-based infrastructure fund management company KIFML.

FMCG major Marico has witnessed healthy momentum building across its key portfolios and expects low double-digit bottom line growth in the fourth quarter last fiscal after being impacted by the COVID-19 pandemic.

Bharti Airtel partnered with health app Apollo 24/7 to offer a wide range of e-healthcare services to its customers as part of their exclusive Thanks benefits. Under the collaboration, Airtel Platinum and Gold customers will get complimentary membership to Apollo Circle.

What to expect today?

Yesterday, NIFTY fell like crazy breaking all major supports and went below 14,500. It gained back some of the losses to close above 14,600. You can read all about yesterday’s movements here.

Bank Nifty was even more bearish and was more than 4% down at one point of time. It took support at 32,300 and closed above 33,600. 

Though the market fell so heavily, NIFTY IT moved up by more than 2%.

The European markets were closed yesterday. The US markets continued the bull momentum with all the indices closing more than 1% up. Dow Jones and S&P 500 hit all time high!

Surprisingly, Asian markets still do not have the positivity that we see in the US. Asian markets are mixed. US Futures are slightly down now. SGX Nifty is currently trading at 14,723 indicating a muted opening in the Indian market. SGX NIFTY has moved from 14,750 to below 14,700 and now is moving up. 

NIFTY has strong resistances at 14,750, 14,800 and 14,900. NIFTY has to cross at least 14,900 to gain back upwards momentum.

BANK NIFTY has good resistances at 33,150-33,300. BANK NIFTY has to sustain above 33,800 to be back into bullish momentum.

The next supports for NIFTY are at 14,650, 14,600 and 14,500 while for Bank Nifty, they are at 32,500 and 32,300.

Foreign institutional investors (FIIs) net sold worth Rs 931 crores, and domestic institutional investors (DIIs) net bought shares worth Rs 94 crores in the Indian equity market.

The highest call OI build up is at 15,000 followed by 14,800. The highest put OI buildup is currently at 14,000 followed by 14,500. Heavy call buildup happened yesterday taking the PCR to 0.6.

The market is in a tricky situation. Understanding the trend is very important. Volatility can also be expected with India VIX moving up by more than 15% yesterday.

Compared to the large move that happened yesterday, NIFTY should be more stable today.

Everytime NIFTY went down to below 14,500 levels in the last 1 month, it quickly shot back up to 14,900 level. Let’s see if it can happen again!

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

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