Markets rallied to an all-time high on Wednesday with FII turning net buyers to the tune of Rs 12000 crores in the spot market and major gains were seen from cumulatively from the Top 9 stocks within Sensex. For Nifty, the immediate target is seen at 19200, and beyond the same, we expect the rally to extend towards 19700. On the downside, support is seen at 18800 and should be considered as a new base for the recent up move.
Sensex Top-9 Stocks Chart
Stocks To Watch
Positive Read Through
- Reliance – Jio added a max number of subscribers in April at 30.4 lacs.
- HDFC Bank – FTSE indices will add HDFC Bank in place of HDFC.
- Bharti Airtel added 76,328 subscribers in April, market share rises.
- Tata Communication to acquire US-based CPaaS Co Kaleyra Inc for USD 100 mn.
- MF cos in focus- SEBI chairman says the industry will be pleased to see new draft TER norms.
- ICICI Sec- Shareholding to get 67 shares of ICICI Bank for 100 shares held
- Power Grid – Board approves investment proposals of Rs 400 cr
- Zydus Life- tentative USFDA nod for Palbociclib tablets.
- TD Power- sources say promoters to sell 24.5 pct stake in Co via block deal
- Sanghi Industries- resumes operations at the Kutch-based cement plant
Negative Read Through
- BPCL board approves raising up to Rs 18000 cr through a rights issue.
- VI continues to lose subscribers, losing 29.9 lakh subscribers in April.
- AU SFB – Board approves raising up to Rs 11,000 cr via QIP and debt instruments
- Aurobindo- USFDA says equipment cleaning and storage controls deficient at Anakapalli
- CreditAccess- Sources say promoter may sell upto 5.8 pct stake via block
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