FRIDAY 

22-SEP-2023

 

Holding 19700 is the key for Bulls to sustain

FLAT to POSITIVE

 

Today’s Market Prediction:

• Indian stock market Would open FLAT
• Technically, Nifty is in the Positive zone- BankNifty is in the Positive zone.
• Nifty index formed a bearish candlestick pattern on the daily charts.
• India VIX fell by 2.78 percent to 10.82 levels.
• Dollar index traded 0.17 percent lower in futures at 105.39
• Wipro’s Chief Financial Officer Jatin Dalal resigns, Aparna Iyer to take over
• SEBI to ease borrowing norms for large corporates, removes penalty, introduces incentives
• Nirma makes big pharma push; acquires 75% in Glenmark Life Sciences for Rs 5,651 cr
• Sebi eases norms for investors to access unclaimed amount in debt securities, REITs, InvITs
• Vedanta: The mining company has received board approval for raising upto Rs 2,500 crore via non-convertible debentures (NCDs), in one or more tranche(s), on a private placement basis.

Stocks in NEWS  

• Glenmark Pharmaceuticals: The pharmaceutical company has entered into a definitive agreement with Nirma to divest 75 percent stake in its subsidiary, Glenmark Life Sciences (GLS). The firm will sell stake for Rs 5,651.5 crore, at a price of Rs 615 per share. 

• SJVN: The Government of India will exercise its greenshoe option of 2.46 percent stake or 9,66,72,961 shares for the offer-for-sale of the hydroelectric power generation company on September 22, given the oversubscription in the issue, which is in addition to the base issue size of 9,66,72,961 shares or 2.46 percent stake. 

• Zaggle Prepaid Ocean Services: The business spend management software and services provider will debut on the BSE and NSE, on September 22. This will be the second company listing in the T+3 timeline (Issue closing date is September 18 + 3 days). 

• Infosys: The country's second-largest IT services provider will offer its Finacle Digital Banking Suite - Infosys Finacle, a part of EdgeVerve Systems, to Nigeria’s Guaranty Trust Bank, the banking subsidiary of Guaranty Trust Holding Company Plc. 

• Wipro: Jatin Pravinchandra Dalal has resigned as Chief Financial Officer of the company, with effect from November 30, to pursue other career opportunities. The IT services company has appointed Aparna C Iyer as Chief Financial Officer, effective immediately. 

• Samhi Hotels: The company will make its debut on the bourses on September 22. This will be the third company to get listed in the T+3 timeline after its IPO. The issue price has been fixed at Rs 126 per share.

Market Indication:

Global: FLAT to POSITIVE

NIFTY: FLAT to POSITIVE

BANKNIFTY:  FLAT to POSITIVE

BULK Deals:  JTL Industries etc.

Stocks In F&O Ban Period: Balrampur Chini Mills, BHEL, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, Manappuram Finance, Punjab National Bank and Zee Entertainment Enterprises

Results Today: Nil 

GIFT NIFTY:  (Positive)

19693    +31.00    +0.16%

 

FII-DII: FIIs were net sellers of Rs.3007.36 crores whereas DIIs were net buyers of Rs.1158.14 crores in cash market for last trading session.

NIFTY (19742) The support for the Nifty is: 19714-19680-19630 and the resistance to the up move is at: 19820-19853-19900 levels.

BANKNIFTY (44624): The support for BankNifty is: 44570-44408-45145 and the resistance to the up move is at 45092-45254-45515 levels.