Markets extended weakness on Monday on the back of carnage in global markets as investors turned cautious ahead of the Jackson hole meeting scheduled on 26th Aug where the U.S. Fed speech could re-focus on inflation trajectory and global central banks on policy stance.
The Nifty 50 ended below 17500 mark mainly on the back of domestic selling. Watch out for 58780 in Sensex very closely as markets are prone to trigger sharp up move above the same as FII buying may come to rescue.
Nifty 50 Weekly chart
Stocks to watch
Positive Read through
- Godrej Agrovet signs MoU with 3 NE states for promotion of oil palm cultivation
- Lemon Tree Hotels Says signs pact for 65 room Hotel at Hubli
- NTPC Says 10mw of the 20mw Gandhar Solar PV Project declared Commercial Operation from Aug. 23
- Maruti says hybrid vehicles can bring down fuel consumption by 35% to 40%
- Arvind, Gokuldas, Welspun, SP Apparels- US dollar continues to move higher, dollar index at $109
- Sterling & Wilson- Wins orders worth Rs. 2,200 Cr from NTPC
- Lemon Tree- License agreement for a 65-room hotel at Hubli, Karnataka
- RBL Bank- Approves raising Rs. 3,000 Cr via debt security
Negative Read through
- Paint Companies- Rebound in crude, Brent back above $ 109/ bbl
- Devyani – Reports say Dunearn Investments (Mauritius) to sell nearly 3% stake
- Infosys- SRCS says the company scales back average variable pay for employees
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