Markets ended unchanged on Monday after the initial gap-down opening while broader markets outperformed key indices. Overall global markets have turned cautious ahead of the U.S. Fed meeting on Wednesday with the expectation of a 50 bps rate hike.
For Nifty 50, the ideal strategy would remain to buy on a decline with stop-loss placed at 18100 and Target placed at 19867. The key trigger to watch would be movement in USDJPY as yesterday’s gains in Dow Jones were mainly on the back of a surge in USDJPY.
Nifty 50 index & Nasdaq Composite
Stocks to watch
Positive Read through
- Dalmia Bharat acquires cement, clinker, and power plants from JPAssociates for Rs 5,600 crore.
- Gland Pharma- Shanghai Fosun taps big buyout funds for Gland Pharma.
- BGR Energy Systems- Receives Rs 330cr from IOCL for civil construction.
- Tata Motors board gives in-principle approval for Tata Tech IPO.
- ONGC to drill exploratory wells in Cudapah, KG Basin- In Focus – Jindal Drilling, Deep Industries, Aban Offshore.
- Kotak Bank- Reports say KFin Tech may launch IPO on Dec 19, Co holds 10%.
- Aarti Inds, NOCIL- Cos seeks review of anti-dumping duty on Aniline imports.
- Gland Pharma- reports say Fosum taps big buyouts funds for Co.
- KEC Intl- bags order worth Rs 1349 cr across its various businesses.
- Bank of Baroda- invites applications for the MD and CEO positions.
- Godrej Agrovet- sale deeds for the transfer of 3.92 acres of land in Tamil Nadu.
- ONGC, Oil- crude rises overnight, brent is back above USD 78 a bbl.
Negative Read through
- Ethos- Promoter Y Saboo’s stake reduces to 0.6%, Dream Digital sells the entire 0.27%.
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