Markets for the week surged 1.5% to post weekly closing at lifetime highs after the U.S Fed paused rate hike and domestic inflation cooled down. The sustenance of India VIX below 11% mark has provided necessary cushion for Nifty to aim at 19194 and Prime Minister U.S. visit on 22 June may further boost up investment sentiment for India.
For Nifty, immediate support is seen at 18741 in Nifty Futures which may act as a strong base in near term. The giant cap stocks which so far has been laggers in the current up move may take a driver’s seat from here on for Nifty journey towards 19786.
Nifty 50
Stocks to watch
Positive Read through
- Dr. Reddys- USFDA completed a GMP inspection at cos API manufacturing facility in Bollaram, Hyderabad.
- Adani Enterprises- Subsidiary signed a Share Purchase Agreement for proposed acquisition of 100 pct stake in Stark Enterprises or Trainman.
- Kalyan Jewellers- Warburg Pincus backed Highdell Investment sold 6.2 pct stake in at an average price of Rs 113.1 per share.
- ABB India- The Kanpur Metro has deployed ABB India’s electrification solutions for safe, reliable and quality power distribution.
- L&T- lowest bidder for bullet train project worth Rs 15,697 cr
- HAL- deal between GE and company will entail 80 pct transfer of Jet Engine Technology by value
- ONGC- Crude rises, windfall tax continues to be Nil
- Gufic Bio- Approval from National Medical Products Admin China for API Prilocaine
- RPG Life- plans acquiring co or brands to strengthen chronic and specialty presence
- Gateway Distriparks- Guided for 10-14 pct revenue growth in FY24/FY25
Negative Read through
- Havells- Shareholders raised concerns over the proposed remuneration to CMD.
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