Markets last week took a breather with Nifty 50 closing below the earlier weekly breakout line placed at 17775, leading to ‘Doji star’ on the weekly candlestick chart. Nifty 50 has given a decent rise in the recent past as it is now nearing closer to 18,000 landmarks which is also a psychological resistance barrier that everyone would be focussed on.
Oil fell at the start of the week as investors weighed the prospect of more Iranian supply and the outlook for global economic growth. Globally, it will be a busy week in the US with Fed Chair Powell’s speech at the Jackson Hole symposium.
Several data releases include personal income and spending, durable goods orders, and the second Q2 GDP estimate. Meanwhile, Futures in the Asia-Pacific pointed to a lower open on Monday as concerns over aggressive Fed hikes re-emerged.
Nifty 50 Weekly chart
Stocks to watch
Positive Read through
- Bharti Partly Paid Have been added to large cap index.
- HAL, PAYTM, Tata Elxsi, Ashok Leyland Migrated to large cap from mid cap.
- TVS Motors, Varun Beverages Migrated to large cap from midcap.
- Adani Power To acquire DB Powers thermal power plant for Rs. 7,017 Cr EV.
- PAYTM Shareholders nod for reappointment of Vijay Shekhar Sharma as MD & CEO.
- Repco Homes- UK based omnis portfolio investments buys 4.76 lakh shares
- Adani to launch open offer worth Rs 31,000 cr to acquire stake in ACC, Ambuja Cement on Aug 26
- CEAT aims to double outlets to 1 lakh in 2-3 years, to expand its tyre sales network via its FMCG style of distribution
- L&T commissions new green hydrogen plant at Hazira in Gujarat, plant will produce 45 kg of green hydrogen daily
- Central Bank of India, the only PSU lender under the RBI’s PCA framework, may see an exit from restrictions soon
- LIC witnessed a decline of nearly 20% in death claims in the first quarter of this fiscal with the Covid impact seen to be ebbing
Negative Read through
- Kotak Mahindra Bank- FTSE did not consider June shareholding for Sept review.
- Lupin, NMDC, Star Health- CDC group exists company by selling entire shareholding
- Domestic air traffic in July fell 7.7% sequentially to 9.7 mn on the back of seasonality and higher fares
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the sole decision of the investor and the company or any of its communication cannot be held responsible for it.