Markets formed doji star on Tuesday after prices cooled from the day’s high after testing 19500 levels indicating signs of indecisiveness. The India VIX extended losses to the end near the 11 mark with aggressive put writing in the system as the market attempts to form a new base around 19000 in Nifty. In the coming days, the outlook remains cautious with the overall expectation that correction may force Sensex towards 64570 before any resumption of sustainable up move.
Sensex Chart
Stocks to watch
Positive Read Through
- JnK Bank shall consider raising capital during FY24.
- The e-mobility division of Greaves Cotton achieved a sales milestone of 200,000 units for its Ampere brand till Q1FY24.
- Sterlite Technologies in partnership with Windstream to support their large-scale fiber expansion projects.
- IOC- Engineers India plans LNG terminal in Irag
- Wipro launches Wipro ai360, to invest USD 1 bn in AI over next three years
- Bharti Airtel- acquires additional 20.6 pct stake in Lavelle Networks
- Coal India- South Eastern coalfields to develop solar power projects of 600 MW
- ITC- Board approves Sanjay Puri’s appointment as CMD for 5 years
- PNR- Inox- GST Council clarifies that the GST rate on F&B in cinema halls will be 5 pct
- Prestige Estates- acquires land in South Mumbai for Rs 704 cr from DB Realty
- Lupin EIR from USFDA for its Pithampur Unit-2 manufacturing facility manufactures oral solids and ophthalmic dosage forms.
Negative Read Through
- SpiceJet- DGCA puts Co under advanced surveillance for three weeks
- Delta Corp, Nazara Tech- 28 pct GST on full value for online gaming, casinos
- Happiest Minds- launches Rs 500 cr QIP, indicative price likely at Rs 924 a sh according to reports
- Strides Pharma- recalls 2700 bottles of Losartan Potassium tablets in the US market
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