Markets last week ended higher with 2% with broader markets outperforming leading indices but rupee remained under pressure. On the long term chart, Nifty has violated the long term support line and has closed below the same for 3rd consecutive week. The weekly support line henceforth will turn into resistance and Nifty for the week is likely to exert pressure around 17650-17850 in near term. On the currency front, USDINR has activated a rounding bottom breakout which also may trigger sudden selling in equity markets in near term. Crucial trigger for the coming week is that the Fed meeting may focus on the quantum of QE tapering.
Asia-Pacific markets jumped in morning trade on Monday as investors turn their focus to a number of monetary policy meetings happening this week. A number of high profile central banks are due to hold their monetary policy meetings this week, including the U.S. Federal Reserve, the Bank of Japan, the Bank of England and the European Central Bank.
Stocks in news
Aurobindo Pharma – Gilead sues Aurobindo to block copies of Letairis drug
Burger King India- To consider fund raising Dec. 15
Cadila Healthcare -Gets tentative approval for Cariprazine capsules
Godrej Properties -Acquires 100% in Yerwada Developers
Jubilant Industries- Unit temporarily shuts Uttar Pradesh plant
Minda Ind- To raise 2-Wheel Alloy Wheel Capacity by 2M/Yr
Power Grid Board to consider mid-year dividend Dec. 15
SpiceJet – Boeing 737 Max Event Probed in India After Mid-Air Emergency; SpiceJet aircraft headed to Kolkata turned back to Mumbai
Vedanta -To pay 13.5 ruppes/share, totaling 50.19b rupees $663m as 2nd mid-year dividends after solid earnings
Wabco India – To change to ZF Commercial Vehicle Control Systems
Alembic Pharmaceuticals (ALPM): Announces Seed Round Investment in Rigimmune
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