SGX Nifty points at a gap-up opening for domestic equity benchmarks BSE Sensex and Nifty 50 on Thursday. Global markets were seen trading higher following an overnight bounce on Wall Street. Japan’s Nikkei 225, Topix and Kospi advanced up to 1.5 per cent. Indian stock market investors will return to trade n Thursday, as markets remained closed on Wednesday on account of Ram Navmi. The week started on a weak note and headline indices registered a fall for two straight days. Nifty is now placed at the crucial support juncture of around 14200-14150. “The chances of downside breakout seems higher. A decisive below the support is likely to drag Nifty down to 13500 levels in a quick period of time. Any upside bounce from here could find strong resistance around 14370,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks in focus today:
HDFC, Indiabulls Housing Finance Ltd: Indiabulls Housing Finance Limited has entered into a strategic co-lending partnership with HDFC (Housing Development Finance Corporation) to offer housing loans to homebuyers at competitive rates.
Cyient, Rallis India: A total of 12 BSE listed firms including Indus Towers, Rallis India, Sasken Technologies, Tata Elxsi, Visaka Industries, Amal, Fineotex Chemical, Filatex India, Hindustan BioSciences, Indbank Merchant Banking Services, and Ind Bank Housing will announce their January-March quarter earnings on April 22.
Nestle India: Nestle India reported a 14.62 per cent rise in its net profit to Rs 602.25 crore for the quarter ended in March 2021 driven by increase in sales volume of its key products. The company, which follows January-December financial year, had posted a profit of Rs 525.43 crore in the same period a year ago.
Hero MotoCorp: Hero MotoCorp on Tuesday said due to surging Covid-19 cases, it is temporarily halting operations at all its manufacturing facilities across the country, including its global parts centre.
ONGC: ONGC spent about one-fifth less than its budget Capex in 2020-21 fiscal after COVID-19 related restrictions delayed projects but fuel marketers such as IOC exceeded targeted capital spending, a government report showed.
DCB Bank: DCB Bank said it has acquired 9 per cent stake in non-banking financial company Techfino Capital which is engaged in providing technology-based education and healthcare loans.
Tata Steel: Tata Steel along with HSBC has executed a blockchain-enabled trade transaction — a global first for the steel industry.