SGX Nifty was trading 25 points down at 16,243.50 on Singaporean Exchange, suggesting a gap-down start off for benchmark indices on Monday. In the prior session, S&P BSE Sensex was .4 per cent reduce at 54,277 points though Nifty 50 fell .35 per cent to close at 16,238. Investors will take cues from ongoing quarterly earnings, macroeconomic information, covid vaccination pace, oil rates, rupee movement and other international cues. The government will release industrial production information for June and inflation information for July this week. Analysts say that the vital reduce supports to be watched for this week about 16200-16100 levels and that is going to be a get on dips chance. “We expect sharp upside bounce from the dips by mid to later part of next week. On a decisive move above 16350, Nifty may head towards 16500 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks to watch
Shree Cement, Balrampur Chini Mills: BSE-listed organizations such as Shree Cement, Astrazeneca Pharma India, Balrampur Chini Mills, Birla Tyres, Bombay Dyeing, Chemcon Speciality Chemicals, Clean Science and Technology, Gati, Gujarat State Petronet, Indian Hotels, Laxmi Organic Industries, MRF, Nilkamal, Reliance Power, Satin Creditcare Network, Shalby, Shankara Building Products, Subex, and Suven Life Sciences will announce April-June quarter earnings.
Rolex Rings: Rolex Rings IPO shares will make their stock industry debut on Monday, 9 August 2021. Rolex Rings IPO was subscribed 130 instances.
CarTrade, Nuvoco: Two new IPOs — Nirma Groups’ Rs 5000-crore Nuvovo Vistas and Rs 2,999-crore Car Trade — will open for subscription today. Nuvoco Vistas has allocated 2.63 crore equity shares to anchor investors at Rs 570 apiece aggregating Rs 1,500 crore. While CarTrade Tech raised Rs 900 crore from anchor investors ahead of its initial public providing.
PNB Housing Finance: PNB Housing Finance expects to handle its negative loans much better from this month onwards, when the deadline of going soft on borrowers supplied by the courts ends on August 31, and would ask the borrowers to start off repaying if they are capable to do so, a top rated firm official stated.
Macrotech Developers: Macrotech Developers, which sells properties beneath Lodha brand, has formed 4 joint ventures in April-June to make projects with a sales worth of Rs 3,500 crore and is searching at two such tie-ups every single quarter to expand presence in Mumbai and Pune regions, a top rated firm official stated.
IDBI Bank: As lots of as seven firms, such as JM Financial, Ernst and Young and Deloitte, have bid for managing the strategic sale of IDBI Bank. These firms would make a virtual presentation prior to the Department of Investment and Public Asset Management, which is handling the sale procedure, on August 10, according to a notice by DIPAM.