Indian markets bucked the trend as financial sector lift sentiments
In
the early morning session, the GIFT Nifty was up 11 points at 25,158,
indicating a marginally higher open for the benchmark Nifty 50 index. US equity
futures ticked down as President Donald Trump said he would be willing to talk
to Democrats about health care only after the government reopened. European
contracts rose during Asian trade. S&P 500 futures down 0.1% Euro Stoxx 50
up 0.1% Japanese shares extended their rally after the election of a
pro-stimulus Sanae Takaichi as the country's next leader sent the yen sliding
and drove up yields of long-tenure bonds.
The
benchmark indices on Monday extended their winning streak for the third
consecutive session, closing in the green. The Nifty 50 closed 0.74% higher at
25,077.65 while Sensex closed 0.72% higher at 81,790.12. The foreign portfolio
investors on Monday stayed net sellers of Indian shares for the 10th
consecutive session. The FPIs sold stocks worth approximately Rs 313.77 crore,
according to provisional data from NSE.
Fundamental Update
- HCL Technologies - The company has joined the
MIT Media Lab in the US to collaborate on artificial intelligence research. Positive
- Zydus Lifesciences - The company has received
approval from Health Canada for Liothyronine tablets, used in the treatment of hypothyroidism.
Positive
- Astral - The company has commissioned
commercial production at its Kanpur plant. Positive
- SPML Infra - The company has approved the allotment of 5.6 lakh shares upon exercise of rights attached to 5.6 lakh convertible warrants. Neutral
Technical Update
- NIFTY – Nifty maintained upward trend with
another 180 points gain to settle at 25,077 on Monday. Index likely to face
25,250 level as near term resistance. Today’s range – 25,000 – 25,250.
- BANKNIFTY – Bank nifty zoomed past 56K to close
at 56,104 on Monday, almost two months high. Index is likely to consolidate
around 56,250 – 56,500 range in near future. Today’s range – 56,000 – 56,550.
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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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