Ravi Bhatt
Sebi Registered Research Analyst - INH000012591
Website - www.capsavaj.com
Markets turn weak after
evacuate Tehran call by Donald Trump
US
futures slipped in Asia session in the morning as US President Donald Trump
asked people to evacuate Tehran after deciding to leave G-7 summit Monday. His
actions are in contrast to what Trump said earlier. He assured that the
conflict between Israel and Tehran will not end into a full-fledged war.
The
Dow Jones Industrial Average and S&P Futures were trading 0.32% and 0.34%
down, respectively in the morning. The GIFT NIFTY too turned weak in the
morning session down 45 points at 24,971. West Texas Intermediate crude rose
1.9% to $73.11 a barrel while Spot gold rose 0.5% to $3,400.49 an ounce. The
Foreign investors remained net sellers yesterday, drawing 1,256 crores from
Indian equity markets.
Fundamental Update
- Biocon
- The Company opened a QIP of Rs 4,500
crore at a floor price of Rs 340.2 per share. Proceeds from the QIP are to be
used to reduce debt. Positive
- Vishal
Mega Mart - Promoter Kedaara Capital via
Samayat Services LLP will sell a 10% stake via block deals. Negative
- TCS
- The Company partnered with the
Council of Europe Development Bank to transform reconciliation processes.
Positive
- HCL
Tech - The Company signed an agreement
with E.ON to accelerate product-based transformation. Positive
Technical Update
- NIFTY
- The Nifty index continued upward
march rising over 200 points to settle at 24,946 on Monday. Index shrugged off
Israel Iran war and close above 17 day EMA of 24,840. Index likely to hit 25K
as near term resistance while support remains at 24,850. Today’s range – 24,850
– 25,050.
- BANKNIFTY
- Bank nifty too gained further and
close above 17 day EMA at 55,944 on Monday. Index has taken support at 55,300
while 56350 is near term resistance. Today’s range – 55,300 – 56,350.
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checking the correctness and authenticity of the information before publishing
research report. We shall not be in any way responsible for any loss or damage
in analysis or views obtained from the use of information contained in this
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