Markets succumbed to selling pressure on Wednesday after prices sustained below 18377 and final closing was almost at day’s low by 0.8% in Nifty. The historical volatility of the Nifty Midcap & Small cap index has activated a major breakout after yesterday’s down move and we expect a minimum 15-20% fall in days to come. For Nifty, the immediate downside is seen towards 17452 and selling pressure can be expected after Brent prices cross 2018 highs of USD 86.75 a bbl.
Dow Jones hit a fresh intraday record high and the S&P 500 rose for the 6th straight day on Wednesday as strong corporate results counter investors’ concerns about rising inflation. SGX Nifty is indicating a flat to the positive opening of 18 points.
Stocks in news
- SpiceJet to commence flight operations to Kushinagar airport from Nov 26
- Oriental Hotels expects recovery to be driven by domestic leisure, tourism
- Future Retail must take part in Amazon dispute arbitration – Singapore panel
- Higher raw material costs dent Nestle’s operational performance in Sept qtr
- Vodafone Idea accepts four-year payment moratorium on AGR dues
- Jio gains 649,000 mobile users in August; Airtel adds 138,000 – TRAI
- Green fuels to power Adani Enterprises’ petrochemicals business
- Govt to soon reach out to potential buyers of debt-laden IDBI Bank
- Mastek, net profit grow 37.8% to Rs 81.5 cr for the quarter, revenue from operations was up 30.3% to Rs 533.9 cr
- Shoppers Stop, net loss at Rs 3.68 cr; sales up two-fold to Rs 642 cr
- L&T Finance Holdings Q2 consolidated net profit declines 15% to Rs 224 cr
- Havells Q2 profit drops 7.34% to Rs 302.39 cr, sales up 31.6%
- Jubilant Foodworks Q2 net profit rises 58% to Rs 120 cr, Revenue from operations stood at Rs 1116.19 cr vs Rs 816.33 cr
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