Nifty futures have been trading 15 points down at 17,404 on Singaporean Exchange, suggesting a reduce start off for BSE Sensex and Nifty 50 on Tuesday. In the prior session, S&P BSE Sensex closed at 58,296, gaining .29% whilst NSE Nifty 50 ended the day at 17,377 or up by .31%. The marketplace continued its positive momentum and mirrored the upmove in other worldwide markets. Analysts say that the Nifty is nonetheless sustaining a greater bottom formation which is broadly positive. “The markets being in an overbought situation could trigger a quick intraday correction if it trades below 17330 support level. As long as the index is trading above 17330 the uptrend texture is likely to continue up to 17450-17500 levels. On the flip side, if Nifty trades below 17330, it could trigger an intraday correction up to 17250-17210 levels,” Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities, mentioned.
Stocks in focus
Infosys: Infosys in a BSE filing informed it has nearly completed its buyback programme and its buyback committee will meet on 8 September 2021 to look at closure of the buyback programme. Infosys board has authorized an up to Rs 9,200 crore buyback strategy, at a maximum value of Rs 1,750 apiece.
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BPCL: Fitch Ratings on Monday mentioned uncertainty more than the bidder consortiums and course of action complexity, which includes valuation, might lead to possible delays in privatisation of India’s second-biggest fuel retailer, Bharat Petroleum Corporation Ltd (BPCL).
Vodafone Idea: Vodafone Idea’s monetary pressure underlined by mounting losses and increasing debt is probably to effect its monetary lenders and have a bearing on staff and subscribers, ICRA mentioned on Monday highlighting that government help is “critical” at this point.
Nuvoco Vistas: The consolidated income from operations of Nuvoco (which includes NU Vista Limited) stood at Rs 2,202.97 crore for the quarter ending June 30, 2021 consolidated EBITDA margin at 24% and consolidated PAT at Rs 114.28 crore.
Balrampur Chini Mills: Sugar manufacturer Balrampur Chini Mills has acquired 11.29 lakh equity shares of its personal (.53 per cent stake) at Rs 366.53 per share on the NSE, according to the bulk offers information.
Wonderla Holidays: Valuequest India Moat Fund offloaded 3.48 lakh equity shares of Wonderla Holidays at Rs 238.11 per share on the NSE, the bulk offers information showed.