Markets witnessed low activity trade in terms of volume on Monday with total volume in the cash market failing to cross the Rs. 50000 cr mark despite gains in the financial and automobile sector.
The surge in Brent crude prices above USD 110 a barrel has raised inflation fears across the globe and has capped further inflows inequities in the past few days.
Today, all eyes will remain on LIC listing which is likely to add a booster in total market capitalization, and stocks, where LIC holds a stake, will remain in the limelight for at least the next 45 days.
From a trading perspective, the setup evolved in Oct 2021 has led to a ‘Flag’ formation and we can expect a positive trend to emerge on close above 16,123 in Nifty with higher volume seen as a key catalyst for a sustainable up move.
Key Results today– Bharti Airtel, IOC, Dr. Lal Pathlabs
Nifty 100 weighted Index & Ratio of Bank Nifty to Nifty 50 Index
Stocks To Watch Out
Positive Read through
- Bharat Electronics to manufacture battery packs for Triton electric trucks
- PSU Stocks in focus ahead of LIC listing. Shares of PSU stocks will be under focus ahead of the Life Insurance Corp of India’s listing today.
- Max Healthcare approves merger of units Alps Hospital, Max Hospitals.
- Kajaria Ceramics expansion of Rajasthan, Andhra Pradesh facility completed.
- SJVN to develop a power project worth Rs 4900 crore in Nepal
- KEC International wins orders worth Rs 1150 crore
- IRB Infra April gross toll collection at Rs 327 crore.
Negative Read Through
- Govt has decided to withdraw BPCL divestment in its current form
- Interglobe Aviation got DGCA communications on the handling of a special child at Ranchi Airport- finds Indigo handling of special child inappropriate
- Aditya Birla Capital say an independent committee looking into whistle-blower complaint did not find merit.
- GlaxoSmithKline Pharma reports loss for March quarter.
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