The market movement remained range bound on Wednesday but Nifty managed to sustain above 50 & 200 DMA despite selling pressure at higher levels. Markets are in pause mode currently before the upswing resumes towards 19500. We expect the bias to remain positive while India VIX may drift to 9 levels first and thereafter Nifty 50 catches positive momentum.
Dollex 30 ie Sensex in USD
Stocks to watch
Positive Read through
- NBCC received an order worth Rs 208 crs from PWD Puducherry
- JLR to invest £15B over the next 5 years as its modern luxury electric-first future accelerates.
- Ultratech- commissions 2.2 MTPA brownfield expansion in Patliputra, Bihar
- Aurobindo- USFDA nod for Roflumilast, used for pulmonary disease treatment
- Mastek- CC revenue is up 5.3 pct and margin rises 40 bps QoQ
- Equitas SFB gets RBI authorized dealer category – I license to deal in forex
- Bank of Maha- to consider fundraising of upto Rs 7500 cr on April 24
Negative Read through
- Tata Comm- EBITDA down 1.1 pct, margin declines nearly 200 bps QoQ
- ICICI Securities- EBITDA down 2.7 pct, margin declines more than 100 bps YoY
- Alok Inds- Net loss at Rs 297.5 cr vs loss of Rs 26.76 cr YoY
- HOEC- Malaysian court dismisses cos appeal in PY-3 offshore field issue
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