Nifty futures had been in trading practically half a per cent or 76.50 points down at 17,541.50 on Singaporean Exchange, suggesting a damaging opening for BSE Sensex and Nifty 50. This week, markets will eye third-quarter earnings by IT corporations, RBI’s monetary policy, India’s service PMI on the domestic front. While marketplace participants will also track the movement of the dollar index, US bond yields, rupee trajectory, brent crude and FPI investments. Technical analysts say that even as the marketplace will stay volatile in the close to future, the 17650-17750 level would be the crucial resistance level for traders whilst 17400-17300 could act as sacrosanct help for positional traders. “Contra traders may take contra bet near 17300 support with strict support stop loss at 17250. On the flip side, partial profit booking is advisable between 17650 to 17750 levels,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, stated.
Stocks to watch
ZEEL: Zee Entertainment Enterprises Ltd on Saturday filed a petition ahead of the Bombay High Court asking it to declare the requisition by a foreign investor to hold an extraordinary common meeting (EGM) as “illegal and invalid”.
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HDFC Bank: NSE International Exchange (NSE IFSC) on Friday stated it has listed HDFC Bank’s more masala bonds on its debt securities marketplace platform. NSE IFSC is a wholly-owned subsidiary of the National Stock Exchange (NSE).
Federal Bank: Private sector lender Federal Bank on Sunday stated it has posted a 10 per cent development in advances at Rs 1,37,309 crore for the second quarter ended September 30. Total advances stood at Rs 1,25,209 crore at the finish of the second quarter of the last monetary year, Federal Bank stated in a regulatory filing.
Avenue Supermarts: Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, has reported a 46.6 per cent improve in its standalone income from operations at Rs 7,649.64 crore for the second quarter ended September 2021.
RIL: Reliance Industries Ltd has incorporated a new subsidiary in the UAE for trading in crude oil, petroleum merchandise and agricultural commodities. Reliance International Ltd has been incorporated as a wholly-owned subsidiary in Abu Dhabi Global Market, the United Arab Emirates (UAE), the firm stated in a stock exchange filing.
Tech Mahindra: Tech Mahindra by means of its wholly-owned subsidiary Tech Mahindra GmbH authorized the proposal to obtain one hundred % equity shares in Beris Consulting GmbH.
Birla Corporation: After securing main wins at the annual common meetings of the 3 cable manufacturing corporations of the MP Birla group, the Lodhas have repeated that efficiency at the annual common meeting (AGM) of the group flagship Birla Corporation.
Dhanlaxmi Bank: The Reserve Bank of India (RBI) in June had advised Dhanlaxmi Bank to guarantee transparency in the nomination course of action of directors and stick to the most effective corporate governance practices. The regulator also directed the bank to expedite and comprehensive the course of action of appointment of directors.