Markets reacted to exit polls numbers with Nifty unable to carry forward the positive momentum and were followed by marginal negative closing below 18300. With the prevalence of breakout from a broadening expanding wedge, we expect positive momentum to prevail with an immediate target seen at 19300. The higher reading in India VIX of 13 clearly shows that most of the positions have been adequately hedged; hence, India VIX is unlikely to extend beyond 13.5. Overall, we expect significant gains in the coming days with the expectation of FMCG, Auto, and Metal to remain in focus.
Nifty 50 Index
Stocks to watch
Positive Read through
- Eicher Motors- earnings above estimates, revenue up 19 pct, margin rises 80 bps YoY
- Kotak Bank- Inflows expected to be around ISD 810 mn on MSCI rejig
- Deepak Nitrite- earnings in-line, revenue up 5 pct, margin down 420 bps
- Siemens- strong earnings, revenue up 28 pct, margin up 40 bps
- Max Health, Sona BLW, and HAL- stocks will be included in the MSCI Standard Index
- GMR Airports- Passenger traffic up 33 pct YoY, airplane movement up 22 pct YoY
- Zensar- Dollar revenue up 1.1 pct, CC revenue up 0.4 pct QoQ
- GSPL- Revenue up 10 pct, transmission volumes in-line at 25.1 mmscmd
- South Indian Bank- NII up 43 pct YoY, NIM at a record high of 3.67 pct
- NBCC- bags orders of Rs 1264 cr in April
- Indigo- Inflows of USD 63 mn expected due to MSCI rejig
- Indigo- Inflows of USD 63 mn expected due to MSCI rejig
- BSE- revenue up 11 pct, margin at 41.9 pct vs 29.8 pct YoY
- ACE, Anupam Rasayan, Bikaji- will be included in the MSCI Smallcap index
- Zee Ent- reports say SEBI asks BSE, and NSE to place recent ex-parte orders on record
Negative Read through
- Indus Tower, Adani Trans, Adani Total- excluded from MSCI India Standard Index
- Abbott, Astec, and Dhani- will be excluded from the MSCI Small cap index
- Dilip Builcon, Gillette, Thyrocare, and Vakrangee- will be excluded from the MSCI Small cap index
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