Markets traded in a narrow range on Wednesday to finally close in the positive terrain forming a small doji star on the daily candlestick which is a sign of indecisiveness ahead of the Fed meeting. The Fed hiked rates by 50 bps as expected but commentary turned hawkish with median rates expected in 2023 at 5.1% which led to US markets closing in the negative terrain.
For Nifty 50, the outlook remains positive as long it holds above 18100 and any decline towards 18300 should be seen as a welcome step for adding long positions with a potential target of 19867.
Nifty 50 index
Stocks to watch
Positive Read through
- IEX becomes India’s first carbon-neutral power exchange.
- GLENMARK/JB CHEMICAL: Glenmark To Divest Cardiac Brand, Razel In India & Nepal
- TORRENT PHARMA: Co-Mktg Partnership With Boehringer Ingelheim For Diabetic Drug.
- THERMAX: Tribunal Rules In Favour Of Co In Rs1,382 Cr Tax Notice Case.
- POONAWALLA FIN: Announces Sale Of Housing Subsidiary To TPG For Rs 3,900 Cr
- SAPPHIRE FOOD: Sources Say Promoter To Sell 11.4% Equity Via Block Deal.
- VRL LOGISTICS: Promoter Sells 5.4%, ICICI Pru, Max Life, Quant Are Buyers.
- SHRIRAM PROPERTIES: Acquires Golden Ira, A Plotted Development Project For Rs 125 Cr.
- HINDUJA GLOBAL: To Consider Share Buyback On December 19.
- RAMAKRISHNA FORGINGS: To Buy Up To 51% Of TSUVO Manufacturing In Phases.
- POWER GRID: Approves Rs 330.61 Cr Investment For Rajasthan Project.
- Bharti Airtel launches 5G Plus services at no extra cost in Lucknow.
- Coal India’s 7 projects to be developed by MDOs for import reduction.
Negative Read through
- IRCTC: Govt Announces OFS For Max 5% Share Sale (Size is 2.5%) At Rs 680/Sh.
- ZEE ENT: IDBI Bank Alleges Rs.150 Cr Default, Seeks Corp Insolvency Resolution Process.
- ASTRAZENECA: Gagandeep Singh Bedi Resigns As MD W.e.f Dec 31, 2022.
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