Domestic equity market place benchmarks BSE Sensex and Nifty 50 have been eyeing a positive start off on Thursday right after markets took a breather in the earlier session. S&P BSE Sensex ended at 49,902 when the broader NSE Nifty closed at 15,030. Nifty futures have been trading 30.50 points or .20 per cent up at 15,065.50 on Singaporean Exchange. Technically, the Nifty 50 index has faced resistance from the upper band of Bollinger, which indicates downside movement for the upcoming session, mentioned an analyst. “Moreover, the recent candle also formed like a Shooting Star Candlestick on the daily chart, which is a sign of some correction. Hourly Oscillator Stochastic has indicated negative crossover, which supports the short-term correction in the near term. At present, the nifty index is holding support at 14940 levels while an upside resistance seems at 15200 levels,” mentioned Sumeet Bagadia, Executive Director, Choice Broking.
Stocks in focus today
Bosch, HPCL, Havells India, JK Lakshmi Cement: BSE-listed organizations such as Zee Entertainment Enterprises, HPCL, Brookfield India Real Estate Trust REIT, Torrent Power, JK Lakshmi Cement, KNR Constructions, Relaxo Footwears, Response Informatics, Sterling Webnet, The Investment Trust Of India, Disa India, Electrosteel Castings, Ultramarine & Pigments, Usha Martin, and Virat Industries, amongst other individuals will announce quarterly earnings on May 20.
Infosys: Infosys co-founder S D Shibulal on Wednesday bought Infosys shares to the tune of Rs one hundred crore via an open market place transaction. Shibulal purchased more than 7.53 lakh shares at an typical value of Rs 1,327 per share, valuing the transaction at Rs one hundred crore, BSE block deal information showed. In a separate transaction, Shibulal’s wife Kumari sold more than 7.53 lakh Infosys shares at the exact same value of Rs 1,327 apiece.
Adani Green Energy: AGEL on Wednesday acquired one hundred per cent interest in SB Energy India at an enterprise valuation of $3.5 billion (roughly Rs 26,000 crore). SB Energy is an 80:20 joint venture in between Japan’s SoftBank Group and India’s Bharti Enterprises, and homes 4,954 megawatt (MW) of renewable power projects across the nation.
Indian Oil Corporation: IOC on Wednesday reported a net profit of Rs 21,836 crore on a standalone basis for the fiscal ended March 31, which is almost 17 instances larger from the Rs 1,313 crore profit posted a year ago. This is the highest annual profit ever reported by the state-run oil refining and advertising and marketing enterprise.
Biocon: Capital markets regulator Sebi on Wednesday imposed a total fine of Rs 14 lakh on Biocon and its designated individual for violation of market place norms. Designated individual of the firm, Narendra Chirmule, who was employed with the enterprise as senior vice president-R&D is facing a fine of Rs 5 lakh for trading in the company’s securities when the trading window was closed.