Nifty futures had been trading 54.50 points or .34 per cent down at 15,786.50 on Singaporean Exchange, suggesting a damaging start off for BSE Sensex and Nifty 50 on Wednesday. In the earlier session, the 30-share index reached a fresh all-time higher of 53,129 but failed to hold gains at close and ended flat. NSE Nifty 50 index decrease at 15,818. Analysts see higher volatility in markets one day ahead of weekly choices expiry. “On daily charts Nifty made a bearish inverted hammer like pattern. Hence, at over 15,850 levels, a lot of selling pressure seems to be emerging from investors. 15738 is the support for the Nifty in the near term while 15915 continues to be resistance,” Deepak Jasani, Head of Retail Research, HDFC Securities, mentioned.
Stock to watch
Bajaj Finance: Bajaj Finance on Tuesday reported a rise in new loans booked throughout the June 2021 quarter to 4.6 million compared to 1.8 million in Q1FY21. Reporting provisional numbers for the June quarter, the enterprise mentioned assets below management (AUM) for the June quarter stood at Rs 1,59,000 crore compared to Rs 1,38,055 crore as of June 30, 2020.
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Kotak Mahindra Bank: Kotak Securities Limited, a subsidiary of Kotak Mahindra Bank Limited, has entered into an agreement with Kredent InfoEdge Private Limited dated July 6, 2021 for investment of Rs 10 crore for a 9.96% in the total share capital of KIPL.
Tanla Platforms: Karix Mobile, a wholly-owned subsidiary of Tanla Platforms Limited, today announced the deployment of a conversational remedy for Panasonic India Limited applying the WhatsApp Business Solution Platform. The remedy will facilitate one-to-one conversations among Panasonic’s prospects and the brand.
Paytm: Digital payments firm Paytm is anticipated to seek shareholders’ approval to raise up to Rs 16,600 crore by way of an initial share sale, providing it a valuation of more than Rs 1.78 lakh crore, PTI cited a supply as saying. The extraordinary basic meeting of Paytm is scheduled for July 12 in which the enterprise may well seek approval to raise up to Rs 12,000 crore by way of issuance of fresh equity.
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