Nifty futures had been trading with gains on Wednesday morning, indicating a gap-up opening for BSE Sensex and Nifty 50. Global cues like the all-crucial US Fed’s Jackson Hole symposium, will be closely watched for additional marketplace path. Analysts say marketplace has been witnessing a rotation from mid to substantial caps — a phenomena which could continue in the close to term provided the sharp outperformance of the broader marketplace in the last 18 months. “Investors can take advantage of the current volatility and build their positions in good quality stocks from medium to long term perspective whenever there are dips in the market,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, stated.
Stocks to watch
Chemplast Sanmar: CLSA Global Markets offloaded 1.2 million shares of Chemplast Sanmar at Rs 548.95 apiece via a bulk deal on NSE. While Copthall Mauritius Investment sold 8.92 lakh shares of Chemplast Sanmar at Rs 534.97 apiece in yet another bulk deal on the NSE.
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REITS, InvITs: Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts will be integrated in the Nifty indices from September 30, according to new eligibility criteria announced by the NSE.
Canara Bank: Rakesh Jhunjhunwala has purchased a 1.59 per cent stake in Canara Bank. The Big Bull has picked up 2.88 crore shares or 1.59 per cent in the bank.
Wipro: Wipro announced that it has been awarded a strategic multi-year contract to companion with E.ON in their digital transformation journey in the economic location. Wipro will provide Application Maintenance & Support Services (AMS) for revolutionary projects on SAP S/4HANA.
Bank stocks: Finance Minister Nirmala Sitharaman will meet heads of public sector banks (PSBs) on Wednesday to overview the economic efficiency of the lenders and progress made by them in supporting the pandemic-hit economy, sources stated. The meeting with MD and CEOs of PSBs assumes significance provided the significance of the banking sector in creating demand and boosting consumption.
Vedanta: Moody’s Investors Service has stated it has upgraded Vedanta’s senior unsecured notes to ‘B3’ from ‘Caa1’. It has affirmed holding enterprise Vedanta Resources Ltd’s (VRL) B2 corporate family rating, Moody’s Investors Service has stated in a statement. Moody’s has also changed the outlook on all ratings to ‘stable’ from ‘negative’.