Markets rallied on Wednesday on the back of gains from Auto stocks with the Nifty settling well above 18100 but Bank Nifty struggled at higher levels. After yesterday up move, the Dollex 30 i.e. Sensex in USD terms has moved higher but remains 1.7% lower from Sep highs. Indian markets still remain vulnerable to major correction as USDINR still remains in the breakout zone for a potential target of 80. If we apply resistance based on Nifty in USD terms, we can expect a major selling zone seen at 18340-18400 in the coming days.
U.S indices ended mostly higher led by gains in shares of big growth names like Amazon.com and Microsoft. The Nasdaq and the S&P 500 moved to the upside on the day, although the narrower Dow closed nearly unchanged
Stocks in news
Infosys profit rises To ₹ 5,421cr In Q2, revenue from operations stood at ₹ 29,602 cr, Revenue guidance raised on higher demand
Wipro reported a consolidated net profit of Rs 2,930.7 cr, firm sees IT services revenue growth at 2-4% in Q3
Infosys to hire 45,000 freshers in FY22 after a spike in Q2 attrition numbers
Dish TV board unanimously agrees not to call an EGM as proposed by Yes Bank
Staring at electricity crisis, Gujarat to buy from Tata Power’s Mundra UMPP
Puravankara to invest Rs 420 cr for two projects; eyes Rs 1,250 cr revenue
Hero MotoCorp joins hands with Gilera to expand operations in Argentina
ONGC sells Dec Russian Sokol crude at highest premium since Jan 2020
Reliance Industries invests nearly $29 million in Germany’s NexWafe
Hind Zinc- Nyrstar will cut production by up to 50 pct at its three European zinc smelters. Production cut from the soaring price of electricity.
Westlife Development- Co Says Will Add 150-200 Stores In The Next 3-4 Years. Co Says Is Looking To Invest Rs 8b-10b Across The Business Over The Next 3-4 Years
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