WEDNESDAY 

29-MAR-2023

 

Volatile session ahead of Weekly Nifty-Banknifty Option Expiry -Keep an eye above 17050

FLAT 

 

Today’s Market Prediction:

• Indian stock market Would open FLAT
• Technically, Nifty is still in the Negative zone whereas BankNifty is still in the Negative zone.
• Nifty index formed a small bearish candle on the daily charts.
• India VIX fell by 2.23 percent to 15.10 levels.
• Global economy faces 'lost decade', says World Bank
• Aditya Birla Capital to sell off insurance broking arm to Edme Services
• S&P keeps India economic growth forecast unchanged at 6% in FY24
• HDFC plans to raise Rs 57,000 crore through private placement ahead of merger with HDFC Bank
• SML Isuzu: The company has decided to increase prices of trucks & buses by up to 4 percent and 6 percent respectively, with effect from April 1.
• Shalby: Ace investor Porinju Veliyath-owned Equity Intelligence India has bought 6.1 lakh shares in the multispecialty hospitals chain or 0.56 percent stake at an average price of Rs 117 per share.

Stocks in NEWS

• Vedanta: The mining company said the board of directors has approved the fifth interim dividend of Rs 20.50 per equity share on face value of Re 1 per share for FY23, which amounted to Rs 7,621 crore.

• Jindal Stainless: The stainless steel manufacturing company has entered into a collaboration agreement with New Yaking Pte Ltd for the investment in development, construction and operation of a nickel pig iron (NPI) smelter facility in Halmahera Islands, Indonesia.

• C E Info Systems: Foreign firm Zenrin Co Ltd has sold 8 lakh shares or 1.49 percent stake in the MapmyIndia operator via open market transactions at an average price of Rs 1,000.05 per share, which amounted to Rs 80 crore.

• Asian Energy Services: Promoter entity Oilmax Energy has acquired additional 2.14 lakh equity shares or 0.56 percent stake in Asian Energy Services, the services provider to energy & minerals sector, at an average price of Rs 99.4 per share.

• Zydus Lifesciences: The pharma company has received final approval for Loperamide hydrochloride capsules (USP 2 mg) from the United States Food and Drug Administration (USFDA). 

• NBCC (India): The company has secured work orders worth Rs 146.39 crore from Ghani Khan Choudhary Institute of Engineering and Technology (GKCIET) Malda in West Bengal, and Small Industrial Development Bank of India (SIDBI).

• Kalyan Jewellers India: Mauritius-based Highdell Investment, owned by New York-based private equity investment firm Warburg Pincus, has sold 2.33 crore equity shares

• GR Infraprojects: The company has secured letter of acceptance (LOA) from East Coast Railway, for construction of tunnel work & allied works of Khurda - Bolangir new rail line project. The project is worth Rs 587.59 crore

• RPP Infra Projects: The company has received a letter of acceptance for a project - repair & construction works of old buildings for reopening of old district jail at Bareilly Uttar Pradesh on EPC basis. 

Market Indication:

Global: FLAT 

NIFTY: FLAT 

BANKNIFTY:  FLAT

BULK Deals: Kalyan Jewellers,Shilpa Medicare,C E Info Systems etc.

Stocks In F&O Ban Period: Nil

Results Today: Nil

SGX NIFTY:  (Positive)

17006    +16.00    +0.09%

 

FII-DII: FIIs were net buyers of Rs.1531.13 crores whereas DIIs were net sellers of Rs.156.11 crores in cash market for last trading session.

NIFTY (16952) The support for the Nifty is: 16919-16884-16830 and the resistance to the up move is at: 17032-17067-17125 levels.

BANKNIFTY (39568): The support for BankNifty is: 39391-39316-39195 and the resistance to the up move is at 39635-39710-39830 levels.