Markets managed to hold gains on Thursday after opening with rising gap and ended with spinning top pattern on candlestick which also indicates signs of indecisiveness. At present, markets are nervous and are currently trading at crucial juncture with major breakdown visible on a move 1% below yesterday close. Global indices like Dow Jones and US Small Cap 2000 have already confirmed start of major downtrend but Indian markets tend to react only after movement in USDJPY. A fall in USDJPY should be seen as a trigger for larger decline in Indian markets with Next Notes Nifty Index traded in Tokyo also positioned for 10% decline in near term. For Nifty, support is seen at 19,432 for opening fresh short in Nifty futures.
Nifty 50 in JPY and Sensex 30 chart
Stocks to watch
Positive Read through
- Tata Motors – JLR Q2 Wholesales rises by 29 pct YoY, free cash flow guidance of £ 300 mn.
- Bajaj Finance – Fund raise Rs. 88,000 mn via QIP approved by the board.
- Sun Pharma – For Rs. 286 mn company Sets to purchase 37.76 pct stake in Ezerx Health Tech.
- PB Fintech – Via block Softbank may sell 2.54 pct stake worth Rs. 8,800 mn in company.
- Lupin – US FDA ANDA tentative nod got by company for for Tolvaptan Tablets.
- Ujjivan SFB – Total deposits rises by 43 pct, CASA up by 27 pct YoY.
- Kalyan Jewellers – Q2 India operations sales growth at 32 pct YoY.
- Nykaa – Net sales growth of 20 pct likely to be in BPC business.
- Indigo – With effect from Oct 6 introduces fuel surcharge to offset rising ATF prices.
- Adani Wilmar – Q2 overall sales value decreased YoY, volume growth seen in double digits.
- Angel One – Q2 gross client acquisition rises by 59.8 pct, client base increased by 13.3 pct QoQ.
Negative Read through
- Godrej Consumer – Consolidated volume growth seen in mid-single digit in Q2.
- Voda Idea – License fee demand of Rs. 32,730 mn disposes by the DoT.
- Som Distilleries – At floor price of Rs. 349.24 per share company launches QIP to raise funds.
- Laxmi Organics – At Floor price of Rs. 283.27/share company launches QIP to raise upto Rs. 3,000 mn.
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