Markets paused the rally after six straight sessions of gains ahead of a crucial Fed meeting on Wednesday. The Fed hiked key rates by 25 bps and hinted that it may be the final move. The Nifty managed to sustain above the crucial breakout zone of 18050 and we expect the next leg of the rally to easily cross the 18900 mark. Today, despite a lower opening, we could see buying which could be followed by a positive closing above 18200.
Nifty 50 Index Daily
Stocks to watch
Positive Read through
- Reliance Inds- Stakeholders approve financial services business demerger
- Hero Moto- to slash EV prices and expand e2W sales to 100 cities
- Chola Invest- YoY loan growth best in 27 qtrs, profit, NII above estimates
- ABB- Q1CY23 results ahead of estimates, order inflows up 37 pct YoY
- Tata Chemicals- Q4 EBIDTA rises 47 pct and margin increases 300 bps YoY
- Bajaj Consumer- EBITDA increased 20.1 pct and margin expands 80 bps YoY
- Sona BLW- Q4 EBIDTA up 49 pct and margin expands 260 bos YoY
- GR Infra- lowest bidder for a road minister project worth Rs 737 cr
- Sula Vine- Q4 EBIDTA up 7.3 pct, reports highest ever annual sales in FY23
Negative Read through
- Manappuram Finance- ED conducts raids at Co premises on money laundering charges
- Titan- Q4 largely in-line, revenue higher while margin is lower vs estimates
- Petronet LNG- Q4 earnings below estimates, margin contracts 190 bos QoQ
- IEX- April volumes rise 6 pct YoY but down 14 pct Mom
- KEC Intl- margin contracts 80 bps, net profit down 35.6 pct YoY
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