Ravi Bhatt
Sebi Registered Research Analyst - INH000012591
Website - www.capsavaj.com
Market turbulence increased
on US strikes on Iran’s nuclear sites
Asian
markets stocks fell on Monday after US strikes on Iran's nuclear sites over the
weekend. US stock-futures too dropped on Monday morning. Hang Sang is down 0.6%
while Nikkei is down 0.5% in the morning session. Additionally, Brent jumped
over 2.6% on Monday and dollar rose against the euro and most other peers. The
GIFT Nifty was down 0.57% at 24,986 in the morning, signaling a gap down start
to Indian markets today.
The
benchmark equity indices reversed their declining streak as they ended the week
with gains on Friday. The NSE Nifty 50 ended 319.15 points or 1.29% higher at
25,112.40, while the BSE Sensex closed 1,046 points or 1.29% higher at 82,408.
Foreign portfolio investors continued buying Indian equities for the fourth
consecutive session on Friday.
The
FPIs net bought shares worth Rs 7,704 crore, according to the provisional data
from the National Stock Exchange. Domestic institutional investors turned
sellers for the first time after 25 sessions as they offloaded equities worth
approximately Rs 3,658 crore, the data showed.
Fundamental Update
- Hindustan Aeronautics - The company became a successful bidder for the manufacturing and design technology of the Small Satellite Launch Vehicle, developed by ISRO. Positive
- Tata Consultancy Services - The company set up two new automotive delivery centres in Germany and an engineering centre in Romania. Positive
- Vidhi Specialty - Gujarat Industrial Development Corp allots land for a new manufacturing plant. Positive
- Tanla
Platforms - The company's arm Karix Mobile
incorporated a subsidiary, Karix Mobile LLC, at Saudi Arabia. Positive
Technical Update
- NIFTY - The Nifty index surged above 25K to settle at 25,112 on Friday. Index looks positive to make further upside journey but rising geopolitical risk may cap any gain. Today’s range – 24,850 – 25,200.
- BANKNIFTY
- Bank nifty too zoomed past 56K to
close at 56,252 on Friday. Index has gained momentum recently after RBI’s easy
monetary policy. Index faces resistance at 56,600 while 17 day EMA 55,840 is
near term support. Today’s range – 55,850 – 56,400.
Disclaimer: This report is prepared by an analyst who has exercised due diligence in
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
report and especially states that we have no financial liability whatsoever to
the user of this report.
No comments:
Post a Comment