Nifty futures tumbled 109 points or .69 per cent to 15,666.50 on Singaporean Exchange on weekly selections expiry day. BSE Sensex and Nifty 50 are anticipated to start out in red, as per trends on SGX Nifty. Analysts see higher volatility on selections expiry day, with restricted upside in the markets. A host of elements such as pace of COVID-19 vaccination, US FOMC outcome, crude oil costs, rupee movement against US dollar, stock-particular developments, and other worldwide cues will provide additional path to the domestic markets. “We expect volatility to remain high in the indices due to scheduled weekly expiry. In case of a further slide, Nifty would find support around 15,600-15,650 zone on Thursday. On the higher side, the 15,800-15,850 zone would act as a hurdle,” mentioned Ajit Mishra, VP – Research, Religare Broking.
Stocks in focus
Power Grid Corporation of India, DB Corp: BSE-listed organizations such as Natco Pharma, Jammu & Kashmir Bank, Power Grid Corporation of India, DB Corp, Basant Agro Tech, Gyscoal Alloys, Global Vectra Helicorp, HealthCare Global Enterprises, Hindustan Media Ventures, IFB Agro Industries, Indostar Capital Finance, Khadim India, Kingfa Science, Nava Bharat Ventures, Novartis India, Power Mech Projects, Royal Orchid Hotels, Siel Financial Services, and Tube Investments of India, will announce their January-March quarter earnings on June 17.
Wipro: Wipro announced a partnership with Exaware, an Open Network routing options provider. The partnership will jointly create sophisticated engineering options that foster innovation in the networking sector, streamline 5G technologies upgrades, and open the door to future 6G compatibility.
Reliance Industries Ltd: The annual basic meeting (AGM) of RIL to be held next Thursday could give clarity on pricing, features and tariffs of Jio-Google phones. At the company’s AGM last year, Mukesh Ambani, chairman and managing director, RIL, had announced that Google would companion with Jio to design and style an operating method to bring out an inexpensive entry-level smartphone, which Ambani mentioned was a step in generating India “2G-mukt”.
L&T Infotech: Mumbai-based L&T Infotech (LTI) has signed an agreement to obtain a one hundred% stake in Pune-based Cuelogic Technologies for $8.4 million in a complete-money transaction. In its filing on the NSE, LTI has mentioned the transaction will be completed in two-4 weeks
HPCL: Hindustan Petroleum Corporation Ltd is arranging to lay a 215-km pipeline to transport liquefied petroleum gas (LPG) from the Haldia port to the company’s bottling plant in Panagarh, West Bengal. As considerably as 1.06 million tonne per annum (MTPA) of item is estimated to be transported by means of the pipeline by FY26.
ICICI Bank: ICICI Bank on Wednesday launched a set of banking options for corporates and their whole ecosystem, like promoters, group organizations, staff, dealers, vendors and other stakeholders.