Today Market Prediction

THURSDAY 

26-MAY-2022

 

 Volatile session ahead of May Expiry contract is expected

FLAT to POSITIVE 

 

Today’s Market Prediction:

  • Indian stock market Would open POSITIVE
  • Technically, Nifty is still in the Negative zone whereas BankNifty is still in the Positive zone
  • Nifty index formed a bearish candle on the daily charts.
  • India VIX fell by 1.37% at 25.28
  • Oil firms on tight supply though EU ban on Russian oil still uncertain
  • Sebi exempts government from making open offer to VIL shareholders
  • Fed embraces 50-basis-point rate hikes in June, July to curb 'very high' inflation
  • Power Ministry announces new scheme for discoms to pay off dues, industry has questions over financing
  • Coal India Q4 Result | Net profit grows 46.3% YoY to Rs 6,715 crore, revenue up 22.5%
  • State owned Power Finance Corporation has reported a 10 percent year on year increase in consolidated profit after tax to Rs 4,296 crore for the quarter ended March. 
  • IIFL Wealth Management declared first interim dividend for the financial year 2022-23 of Rs 20 per share of face value Rs 2 each.

Stocks in NEWS

  • The hydro-electricity generating company reported a 6.8 percent year on year rise in March quarter consolidated net profit to Rs 515 crore aided by deferred tax credit of Rs 87.8 crore against a deferred tax expense of Rs 394 crore during the same period last year.

  • Infosys collaborated with Palo Alto Networks to create network security solutions that enable global organisations to secure hybrid cloud infrastructure from a single unified platform, while maximising existing investments and integrating SASE and zero-trust architecture components. 

  • MOIL reported a 13 percent year on year jump in March quarter net profit to Rs 131 crore aided by lower inventory costs and other expenses. Revenues increased four percent to Rs 467.9 crore.

  • Kolte Patil Developers net profit rises 28.6%: Kolte Patil Developers' March quarter net profit rose 28.6 percent year on year to Rs 26.8 crore aided by seven percent improvement in realisations. The revenues for the Pune based developer improved 27 percent to Rs 376 crore.

  • Birla Soft promoters will not be participating in the proposed share buyback programme of the company. The company on May 23 had proposed to buy back up to 7,800,000 fully paid shares of Rs 2 each.

  • Nahar Spinning Mills reported a 69 percent year on year jump in its profit for the March quarter aided by robust demand and better realisation for yarn. Revenue improved 37.2 percent to Rs 999.37 crore.

  • Suzlon Energy net loss widened 261 percent to Rs 204.3 crore for the March quarter impacted by higher tax expense. Consolidated profit more than doubled to Rs 2,478.8 crore.

  • Torrent Pharma declared a dividend of Rs 23 (460 percent) per share of Rs 5 each including a special dividend of Rs 15 per share. The pharma major also announced a bonus issue of 1:1, that is, one share for each fully paid up share held. 

  • Praj Industries profit after tax rises 10.8%: Praj Industries profit after tax for March quarter rose 10.8 percent year on year to Rs 57.65 crore. Revenues jumped 46.2 percent to Rs 829 crore. 

Market Indication:

Global: FLAT to POSITIVE

NIFTY: FLAT to POSITIVE

BANKNIFTY: FLAT to POSITIVE

BULK Deals: Nil

Stocks In F&O Ban Period: Nil

Results TodayHindalco, Motherson Sumi, Muthoot Finance, Zee Entertainment Enterprises, Aarti Surfactants, Oberoi Realty, Aban Offshore, AllCargo Logistics, Ansal API, Astra Zeneca, Berger Paints, Colgate Palmolive India, Cummins India, Good Year India, Gujarat State Fertilizers Corporation, India Glycols, Jet Airways, Kirloskar Industries, MRO-Tek, NMDC, Page Industries, Prestige Estate Projects, Quess Corp, Shalimar Paints, Sudarshan Chemicals.

SGX NIFTY (Positive)

16109    +88.00    +0.55%

 

FII-DII:  FIIs were net sellers of Rs.1803.06 crores whereas DIIs were net Buyers of Rs.2229.82 crores in cash market for last trading session.
NIFTY (16025) The support for the Nifty is: 15947-15869-15790 and the resistance to the up move is at: 16164-16302-16375 levels.

BANKNIFTY (34339): The support for BankNifty is: 34135-33845-33600 and the resistance to the up move is at 34633-34968-35130 levels.