Markets rebounded sharply to end with gains of 0.5% but financials remained under pressure while technology stocks were key contributors for yesterday’s up move. The widely tracked index by FII namely Dollex 30 i.e., Sensex in USD terms has seen a breach of the intermediate low and is followed by a major negative crossover in MACD. This move clearly corroborates that the current up move from here on remains unsustainable and markets may see renewed pressure on the back of a surge in USDINR.
S&P Dollex 30 ( i.e. Sensex in USD terms)
Stocks to watch
Positive Read through
- Lupin- Digital Health launches Lyfe digital heart failure Clinic in India.
- RailTel- Receives order worth Rs 700 cr from Pimpri Chinchwad Smart City.
- Adani Green- INQ Holdings buys 2.7 pct stake in Adani Green in a bulk deal.
- BEML- Gets the LoA from Bangalore Metro Rail Corporation for the supply of rolling stock contract 5RS-DM worth approx. Rs. 3,177 crores.
- Insurance stocks: Mandatory insurance for shops and establishments in Maharashtra.
- Inox Wind- Block deal worth Rs 500 cr at max 5 pct discount to CMP.
- ICICI Lombard- July general insurance premium jumped by 22 percent YoY.
- Star Health- July general insurance premium jumped by 17 percent YoY.
- HDFC Bank FTSE will evaluate eligibility status in September Review
- Godrej Consumer India volume growth in-line at 12 pct, EBITDA increased by 23.4 pct YoY
- Gland Pharma reported Q1 results above estimates, US Business sales up by 25 pct QoQ
- TATA Chemicals posted margin above estimates, EBITDA increased by 3 pct YoY
- RAILTEL bags order worth Rs700 crore from Pimpri Chinchwad smart city.
- KIMS sales up by 22.3 pct, EBITDA up by 14.5 pct YoY
Negative Read through
- HLE Glass EBITDA Down by 17 pct YoY, To acquire 70 pct Stake In Kinam Engg
- GIC Housing NII down by 17.5 pct, profit Slips by 18.9 pct YoY
- Gokaldas Exports EBITDA Down by 16.8 pct, Sales slips by 15.7 pct YoY
- Rainbow MEDI reported Q1 occupancy at 40.9 pct Vs 58.8 pct (QoQ), margin contracts
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