Domestic equity market place benchmarks BSE Sensex and Nifty 50 have been most likely to open on a flat note with a positive bias on Wednesday, as recommended by trends on SGX Nifty. Nifty futures have been trading 19 points or .13 per cent up at 14,764 on Singaporean Exchange. Today, all eyes will be on RBI MPC outcome scheduled at 10 AM. According to an analyst, the brief term trend of Nifty remains variety bound. “As per the present set up, one may expect Nifty to retest the crucial overhead resistance around 14880 levels in the short term, before showing another round of weakness from the highs,” stated Nagaraj Shetti, Technical Research Analyst, HDFC Securities. He also added that a sustainable move above 14900 could open a sharp upside for the market place.
Stocks in concentrate today:
Banking stocks: Banking stocks will stay in concentrate today as Reserve Bank of India (RBI) will announce the selection of MPC today. Amid increasing coronavirus situations across the nation, central bank is unlikely to alter the interest prices.
Barbeque-Nation Hospitality: The Rs 453-crore IPO, which was subscribed almost 6 occasions, will make its stock market place debut on Wednesday, April 7, 2021. This would be the initially IPO listing in the new economic year 2021-22. The problem was sold in the variety of Rs 498-500 per share.
RIL, Airtel: Mukesh Ambani-led RIL’s telecom subsidiary Reliance Jio has signed a definitive agreement with Bharti Airtel for the acquisition of correct to use spectrum in the 800MHz band in 3 circles via spectrum trading.
Inox Leisure: The business stated that the board of directors authorized to raise funds up to Rs 300 crore via the problem of securities either by way of a public problem or by way of rights problem or by way of a private placement.
Tata Steel: Tata Steel India accomplished highest ever quarterly crude steel production of 4.75 mn tons with a 3 per cent sequential development in 4QFY21. Full year FY21 production was reduced by 7 per cent on-year mainly due to the disruption brought on by COVID-19 pandemic in 1HFY21.
Auto, realty stocks: The price-sensitive stocks such as banking, auto and realty will stay on investors’ radar today as RBI will announce its 3-day MPC selection today.