Markets opened lower on Monday on the back of weak global cues but late recovery in the financial sector and metal sector helped the Nifty to recoup most of its losses and ended on a flat note.
The lackluster movement in Nifty is a clear sign that big accumulation is going on in the Nifty 50 basket and the next up move could be quite sharp and could trigger a 2000-2500 points rally. The ideal strategy should be divesting from midcaps and shifting to large caps.
The US markets struggle to hold gains and closed almost flat having risen more than 300 points earlier. Sentiment remains clouded by prospects of higher interest rates. The 10-Year Treasury yield broke above 3 pct.
Stocks in Asia are poised to open steady after a jump in Treasury yields capped gains on Wall Street.
Nifty 50 Index & Spread of Nifty 50-Nifty 500 Index(3 Day closing)
Stocks to watch
Positive Read Through
- Tata Motors wins order to deliver fleet of 10,000 EVs to BluSmart Electric
- SBI Card Board approves raising up to Rs 2,500 crore through NCDs
- Adani to invest Rs 1.5K crore in ammunition complex in Uttar Pradesh
- Kolte Patil Developers, Tata Power partner to ease EV adoption, drive sustainability
- RIL margins are at a 20-year high as Asian benchmark GRMs hit a record
- Adani, Apollo explore bids for a majority stake in Metropolis
- Zydus gets USFDA nod for generic antacid
- NMDC shareholders, and creditors to discuss Nagarnar Steel Plant demerger on Tuesday
- Cyient acquires wireless engineering firm for Euro 41 million
- Arvind Limited gradually cuts down its garment capacity in Ethiopia
Negative Read Through
NMDC cuts prices of lump ore by Rs 1,100 per tonne, fines by Rs 1,000
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