Markets on Monday ended unchanged after an initial gap down opening to form a small Doji star in candlestick while Bank Nifty managed to settle with decent gains. The surge in USDINR and EURINR in yesterday’s trading session is likely to put pressure on Nifty 50 with an overall downside cushion for Indian markets available till 18300. We continue to maintain buy on decline strategy for Nifty with Stoploss placed at 18100 and Target seen at 19867.
SGX Nifty indicates a gap down on weak global cues. All eyes are on RBI policy tomorrow. Crude corrects over to USD 83 a barrel.
Nifty 50 index
Stocks to watch
Positive Read Through
- JSW Energy: Company starts phase-wise commissioning of a 450 MW wind power project at Tuticorin, Tamil Nadu
- Bajaj Consumer: Company to consider a proposal for share buyback on Dec 9
- IRB Infra: November gross toll collection is up 39.2% at Rs 365.9 cr Vs Rs 262.8 cr
- DreamWorks partners VidsurGolf to offer customers access to premium golf courses across India & Asia Pacific
- Natco Pharma: Delhi HC dismisses FMC Corp’s appeal against Natco Pharma
- Ahluwalia Contracts: Bags order worth Rs 175 crore for construction of public auditorium at Guwahati
- HDFC: Life Insurance Corporation of India bought additional 2.14 lakh shares
- Vedanta: A signed pact with Odisha to provide hot metal to plants, to invite industries to set up plants in Jharsuguda
- Rainbow: Govt of Singapore bought 21.1 lakh shares at an average price of Rs 735 per share, and ICICI Prudential MF purchased 17.7 lakh shares.
- Kalpataru Power: Board To Consider Fund Raising Via NCDs On Pvt Placement Basis On Dec-8
- TVS Motor: Promoter Srinivasan Trust offloaded entire shares worth Rs 262.1 crore via open market transactions. It sold 25.69 lakh shares
Negative Read through
- Gujarat Fluorochem: Promoter Entity sold 18.0 Lakh equity shares in the company
- HCC: IDBI Trusteeship Fund sold another 1.55 crore equity shares in the company
- NDTV: Vikasa India EIF I Fund sold another 4.59 lakh equity shares in the company
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