The market is trading in a small range. Nifty has slipped below 11 thousand 900.
10 : 35AM
The market is trading in a small range. Nifty has slipped below 11 thousand 900. Banking stocks have seen the most pressure. The Nifty Bank has slipped 250 points from the upper levels.
10 : 15AM
With the FIIs limit being 100 percent, it is possible to purchase 15000-20,000 Cr in BHARTI AIRTEL. After this news, the stock has seen a gain of about 10 per cent. Good second quarter results and THUMPS UP of brokerage house have also boosted the stock.
10 : 00AM
Today, the rupee has strengthened 1 paise against the dollar and opened at 73.70 against 73.71.
Notification of 100 percent FIIs limit in BHARTI AIRTEL has been issued on NSDL website. It will be decided to increase its weightage in the next MSCI meeting. With the increase in the phase, it is possible to purchase 15000-20,000 Cr.
Sensex and Nifty are also seeing weakness amid weak global cues. The Sensex is seeing a decline of around 55 points. Along with heavyweight stocks, midcap stocks are also seeing weakness. The midcap index of BSE is trading with a weakness of 0.08 per cent. Smallcap stocks are also seen sluggish. The BSE Smallcap index is trading with a marginal gain of 0.04 per cent. Oil-gas stocks also see weakness today. The BSE oil and gas index is trading at a loss of 0.22 per cent.
Currently, the 30-share BSE Sensex is trading around 40,470 with a weakness of around 55 points, ie 0.13 per cent. On the other hand, NSE Nifty, the 50-share major index, is trading around 11,865 with a weakness of about 25 points, ie 0.21 per cent.
Strategy on nifty
Virendra Kumar of CNBC-Awaaz says that its registration zone is 11946-11964. The larger registration zone is 12020–12040. Its base zone is 11810-11789. The larger base zone is 11730–11713. The FIIs have added new strength, making the base 11750-780. You can take a light deal for a faster option. Keep a shopping perspective, 11964-12020 is very difficult to get out. The 11780-820-830 level looks good for shopping.
Strategy on nifty bank
Virendra Kumar says that its registration zone is 24930-25020. The larger registration zone is 25200-25250. The base zone is 24450-24374. The larger base zone is 24250-24150. Bank Nifty is the key to the market today. 23900-24200 base, 25000 large registrations.
Know today’s trading calls
SELL M&M FINANCIAL AT 126 STP 136 TRG 113
Buy Bharat Forge SL 461.50 Tgt 485
Buy HDFC Life tgt 605 SL 578
Global signal weakens
Corona seems to be growing in concern for the US market. The DOW had slipped 220 points in yesterday’s trade. However, NASDAQ had a strong closing. Today DOW FUTURES looks down 135 points. Asia has also got a weak start. SGX NIFTY is seeing a decline of 0.25 per cent.
Good results of Bharti Airtel
Bharti Airtel has delivered good results in the second quarter. The loss of the company has come down from 16 thousand crores to 763 crores. Revenue and margins have been better than anticipated. ARPU grew for the fourth consecutive quarter.
Good results from Tata Motors
Tata Motors has delivered impressive results. JLR’s margin is 11 per cent higher than anticipated. The company’s standalone loss has also been reduced to half.
Hero will sell Harley Davidson bikes
Hero Moto will sell Harley Davidson bikes in India. For this both companies have tied up. Harley Davidson’s stock rose more than 22 per cent in the US yesterday with a deal with Hero.
Today the results of 5 companies of NIFTY will come.
Today is the big day for the second quarter results. Today, 5 companies of Nifty will present the results AXIS BANK, L&T, TITAN, DR REDDYS and HERO MOTO. L&T’s SPECIAL DIVIDENT will also be marketed.
Bihar election: first phase voting today
Voting for 71 seats in the first phase of Bihar assembly elections will begin shortly. There are more than a thousand candidates in the fray. The fate of many big faces including Jitan Ram Manjhi will be decided.
Reduction of new corona case
The speed of the corona has decreased. Yesterday, around 36 thousand new cases were reported. The recovery rate has also gone above 90 percent. Total cases have come to 80 lakhs.
Mumbai Indians-RCB collision today
Sunrisers Hyderabad have a thumping win over Delhi Capitals in the IPL. Mumbai Indians and Royal Challengers Bangalore teams will clash today to secure a place in the playoffs.