Markets broke crucial support on Thursday with Dollex 30 Index i.e., Sensex in USD terms breaching the support line occurring on 1st Dec 2022 thus opening gates for a 20% decline in the near term on a long-term basis. Markets tend to remain strong as long they hold comfortably above the previous highs, while below the same – turns the recent breakout void. In Nifty terms, we expect an immediate target of 18,200 on breach of 19,265 in Nifty futures.
S&P Dollex 30
Stocks to watch
Positive Read through
- Adani Enterprise’s arm Mundra Solar Energy gets COD certificate for Solar PV mfg Plant
- Adani Power- Reports say Abu Dhabi Natl Energy company, PJSC (TAQA) may acquire stake in Co
- Zydus gets US FDA nod for Doxepin tablets used to treat depression, anxiety
- LTIMindtree- Aflac Selects company as its digital transformation partner
- Bata will continue to explore strategic partnerships
- Sula Aug 12-14 weekend saw highest revenue at Rs 20 mn, visitors, tastings
- NLC in long-term power usage Agreement with RUVNL for 300 MW solar power supply
- Jain Irrigation’s boards approves fund raise of up to Rs 761 mn via promoter allotment
- South Indian Bank gets RBI nod to appoint PR Seshadri as MD & CEO w.e.f. October 1
- Punjab & Sindh Banks rating outlook revises by CRISIL from ‘negative’ to ‘stable’
- Yatharth Hospitals posted margin at 26.8 pct Vs 23 pct, sales increased by 39 pct (YoY)
- PNB, TVS Motor from September 29 to be included in Nifty Next 50
- Shriram Fin, Trent- from September 29 to be included in Nifty Next 50
Negative Read through
- ACC, Nykaa, HDFC AMC from September 29 to be excluded from Nifty Next 50
- Indus Towers, Page Industries from September 29 to be excluded from Nifty Next 50
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