Markets opened lower on Wednesday on the back of weak global cues but recouped losses to close above 19,450 on the back of a recovery in Auto and IT stocks while Bank Nifty ended with losses. The crucial trigger for markets may come from the movement of USDINR which has been sustaining above major breakout levels of 83 and a surge in USDINR may open renewed selling in India’s ADR & GDR traded in the offshore market. For Nifty, crucial support is seen at 19,296 below which, we may see a straight hit toward 18,000.
BNY Mellon INDIA DR Index
Stocks to watch
Positive Read through
- Kotak Mahindra intends to take unsecured portfolio to 15 pct of the loans from 11 pct
- Lupin launches Tiotropium dry powder for inhaler in the United States
- JSW Energy’s promoter sells 21 mn shares via block, GQG Fund buyer
- Aurobindo to launch HIV triple combination product for children with HIV
- Adani Power GQG acquires 8 pct stake worth approx Rs 90,000 mn via blocks
- Power Grid commissions assets U/North Eastern strengthening scheme- VI Project
- RVNL/JSPL Union Cabinet approves 7 Multi tracking projects worth Ra 325,000 mn
- Religare Ent Burman family buys 5 pct stake via blocks, Invst Opportunities Seller
- IIFL Securities Hamblin Watsa Investment sells 6 mn shares at Rs 65.67/Sh via block
- Coal India capex spending grows 8.5% to Rs 4,700 cr in Apr-Jul.
- Tejas Networks secures contract to provide 4G-5G network equipment to BSNL.
- Wipro launches GenAI centre of excellence in collaboration with IIT Delhi.
- Adani Green Energy to raise $5 billion through global bonds.
- ONGC to scale up renewable capacity to 10 GW by 2030
Negative Read through
- Cipla- FDA Suspends License Of cos Patalganga manufacturing unit for 10 days in December 2023
- Voda-Idea management says, fund raise remains elusive as talks have not reached final stages
- Alembic Pharma BSE Returns cos draft scheme of reorganization of general reserve
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
