Market activity remained restricted in the trading range of 15780-15900 on Wednesday to finally end in positive terrain while Bank Nifty moved closer to its recent high of 35810. There was lack of momentum in large cap stock with 16000 acting as a major resistance. The Nifty G-Sec 10 yr index showed some rebound ahead of Fed minutes but with USDINR crossing above 75.80 in the international market, we can expect selling in Indian bonds to resume. Overall, view of market remains highly cautious as USDINR setting stage for big upswing in coming days which may impact equity markets. Today, TCS will officially set afire the ceremonial starters pistol for the Q1 earning season.
Asian stock opened steady Thursday, following gains for U.S. shares and Treasuries as the Federal Reserve minutes showed policy makers still awaiting more evidence of a robust economic recovery to set a timeline for trimming bond purchases.
Stock in news
- Modi Revamps Cabinet to Repair Popularity Ahead of India Polls. President swore in 43 new federal ministers in New Delhi
- Adani Seeks $1 Billion to Refinance Mumbai Airport Debt
- India Cumulative Monsoon Rainfall 5% Below Normal as of July 7
- India Power Demand Hits an All-Time High But May Fall Soon: BNEF
- Indian IT industry revenues will see double-digit growth in FY22: PTI
- Farmers gear up for protest against fuel price hike Thursday: PTI
- Bajaj Healthcare (BAJAJHEA): Gets license to make and sell Covid drug 2-DG
- Hindustan Oil Exploration (HOE): Says HDFC sold 2.46% stake in HOE for 371.9m rupees between Sept. 2017 and July 7
- Natco Pharma (NTCPH): FMC Corp. gets interim injunction against Natco for patent infringement
- Rashtriya Chemicals (RCF): Says settle gas pricing dispute with GAIL for INR871.7m under AMRCD mechanism
- Tata Motors (TTMT): Jaguar Not Expecting Delays in Launches Due to Chip Crisis: CFO
- Ujjivan Financial Services (UJJIVAN): Aberdeen Global sells 1m shares of Ujjivan
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