Markets ended unchanged on Wednesday while the Midcap and Small cap segment continue to witness selling pressure with breadth turning negative. The gains in Bank Nifty helped Nifty to end in marginally favorable terrain while India’s VIX surge managed to cross the 15% mark. For the entire market, the system’s risk remains elevated as long as Nifty 50 trades below 18513 levels with a potential downside towards 14700.
For today’s trading, key support to watch out for in Nifty Futures would turn out to be 18370 as it turns out to be the FII buying price for Nov Series Futures, below which we expect knee jerk reaction.
Nifty 50 Index & Dow Jones Index
Stocks To Watch
Positive Read Through
- KEC International wins new orders worth Rs 1,294 crore.
- ReNew Power to set up green hydrogen plant in Egypt with USD 8 bn investment.
- Fitch affirms Bharti Airtel’s BBB- rating, reflecting a solid balance sheet.
- ICICI Bank hikes FD interest rates by up to 30 bps.
- LnT Infotech set to enter MSCI Global Large-cap index post-merger according to reports.
- Exide- puts out a detailed roadmap for their lithium-ion cell manufacturing foray
- Vedanta should declare a dividend of Rs 11.44 a sh if the HZL dividend is passed on
- Balrampur Chini – commercial production of industrial alcohol at the Maizapur unit
- Aurobindo- Unit XI is classified VAI or voluntary action indicated by USFDA
- Bikaji Foods- Goldman Sachs India Equity Portfolio buys 17.4 lakh shares at Rs 324.50/sh
Negative Read Through
- Tata Motors- JLR CEO Thierry Bollore resigns citing personal reasons, Adrian Mardell to be interim CEO
- Paytm – reports say Softbank may sell USD 215 mn shares at Rs 555-601.45 a sh via block deal
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