Nifty futures have been trading 131.50 points or .84 per cent on Singaporean Exchange, indicating a larger opening for BSE Sensex and Nifty 50 on weekly F&O expiry day. So far this week, Nifty 50 index has fallen 1.5 per cent, although Bank Nifty lost practically 2 per cent. Analysts think issues more than international financial recovery are worrying investors as the third Covid wave is rapid spreading. “We may see further slide ahead and Nifty may find support around 15,450 i.e. lower band of the prevailing consolidation range. Meanwhile, earnings will continue to provide opportunities to the traders however we suggest keeping a check on position sizing and focus on overnight risk management,” stated Ajit Mishra, VP – Research, Religare Broking.
Stocks to watch
HUL, Bajaj Auto: BSE-listed organizations such as Hindustan Unilever Ltd, Ultratech Cement, Bajaj Auto, Hindustan Zinc, ICICI Lombard Genenral Insurance Company, Biocon, Mphasis, Bajaj Holdings, Persistent Systems, IndiaMART InterMESH, Bank of Maharashtra, and IEX will announce their April-June quarter earnings on 22 July.
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Indian Oil Corp, GAIL, ONGC: State-owned IOC, GAIL and ONGC might acquire shares of Petronet LNG and Indraprastha Gas in the eventuality of an open provide obtaining triggered post privatisation of Bharat Petroleum Corporation Ltd (BPCL), PTI quoted sources as saying.
Jubilant Foodworks: Jubilant Foodworks, which operates rapid-meals chains such as Domino’s Pizza and Dunkin’ Donuts, on Wednesday reported a consolidated net profit of Rs 69.06 crore in the initial quarter ended June 30, aided by larger revenues regardless of the second wave of COVID-19 disrupting operations.
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