News Shots

“Haven’t exhausted monetary policy options, Indian banking continues to be sound”- RBI. This positive remark will definitely boost the bullishness of the banking sector.

Defence stocks will be in focus after the Chief of Defence Staff Gen. Bipin Rawat said that the government will put out a second negative list for defence imports early next year.

Indian Oil Corp (IOC) to invest Rs 14,800 crore in expanding the capacity of its Barauni refinery in Bihar as part of over 2,800 projects being executed under the Aatmanirbhar Bharat campaign. This is being done to boost domestic manufacturing and create jobs.

Amid rising demand for anti-bacterial range of products, JSW Steel has rolled out a new product segment, JSW Radiance, colour-coated steel and coils with properties like anti-microbial & anti-dust

Pacific Alliance Group (PAG) has agreed to buy the wealth management and capital markets business of Edelweiss Financial Services that also includes investment banking, its first large deal in the country after setting up local base in 2019.

GMR Infrastructure‘s consolidated net loss for the quarter ended June 30 more than doubled to nearly Rs 834 crore against Rs 336 crore loss in the January-March period in FY20. The company also announced strategic restructuring of Group companies, which involves vertical split demerger of the non-airport businesses (energy, EPC, urban infrastructure, etc.) into GMR Power and Urban Infra Limited (GPUIL)

The state owned mining major NMDC reported a 55 per cent decline in net profit at Rs 533 crore for Q1 FY21 against Rs 1,179 crore during Q1 of FY20.

Investors led by Porinju Veliyath’s Equity Intelligence India lapped up shares of small cap Thejo Engineering, while India Opportunities Fund continued to offload its stake in the company.

Tata Motors’ entire BSVI-compliant range of commercial vehicles is equipped with technological and performance upgrades that generate higher revenue and profits for transporters through higher fluid efficiency.

What to expect today?

Yesterday, NIFTY opened above 11,600. Though it moved down slightly during the day, it ended in green. So, it was the 5th consecutive green day for the market. Click here for a detailed analysis of yesterday’s market and stock movements. As per discussions going around, a small retracement may be just around the corner but it just might not happen today.

US Markets are mostly up, hitting all time highs. Asian markets are mixed. SGX NIFTY is currently trading at 11,632, which is 30 points higher, indicating a positive gap up opening in the Indian Market.

NIFTY is likely to trade between 11,550 and 11,700 today. There is support at 11,585 and 11,550 and resistance at 11,610 and 11,650.

Highest Call Open Interest at 11,600, followed by 11,700. Highest Put Open Interest at 11,500, followed by 11,400. Huge shifts in OI!

Foreign institutional investors (FIIs) bought shares worth Rs 1,164.32 crore, whereas domestic institutional investors (DIIs) sold shares worth Rs 809.27 crore

ICICI Bank ADR is doing unusually better. Watch whether it will cross the very important Rs 400 mark.

Banks and Defence Stocks have optimism pumped in by the government.

IT and Pharma have been showing weakness, owing to rupee getting stronger. Do watch them for a comeback.

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