After rising for the six consecutive sessions, BSE Sensex and Nifty 50 were staring at a gap-down start on the first day of the week.
Analysts say any aggressive fresh buying should definitely be avoided at current levels.
After rising for the six consecutive sessions, BSE Sensex and Nifty 50 were staring at a gap-down start on the first day of the week, as suggested by trends on SGX Nifty. Nifty futures were trading 52.50 points down at 13,729.50 on Singaporean Exchange. Global cues will continue to dictate market trend in the absence of any major domestic event. “We continue to keep a cautiously bullish outlook and suggest traders be light on the longs as the market is stretched in the short term. Any aggressive fresh buying should definitely be avoided at current levels. Immediate support for Nifty is now placed at 13450. Below 13450, we might get a confirmation for a brief profit-booking move on the downside which can then retest 13000 to 12800 zone,” said Nirali Shah, Senior Research Analyst, Samco Securities.
Antony Waste Handling Cell: Antony Waste Handling Cell is set to launch its Rs 300-crore initial public offer (IPO) today. The firm has fixed the price band of the issue at Rs 313-315 apiece. The public issue will close on December 23, 2020, for the subscription.
ONGC: West Bengal got included in ONGC’s oil and gas map with its eighth field at Ashoknagar in West Bengal starting commercial production on Sunday. ONGC first extracted 20 kilolitres of crude oil from the Ashoknagar oilfields early November this year and had sent it to Indian Oil’s Haldia refinery for processing.
DHFL: The committee of creditors (CoC) of Dewan Housing Finance Corporation (DHFL) is likely to meet again this week to discuss bids submitted by the suitors, sources close to the development told FE.
Reliance Home Finance: Six suitors, including Kotak Special Situations Fund (KSSF) and Asset Reconstruction Company (India) Limited (ARCIL), have submitted bids for Reliance Home Finance, part of Anil Ambani-promoted Reliance Group. Only two bidders submitted compliant and binding bids while four bids are non-binding and not compliant with bid conditions, PTI quoted sources as saying.
Reliance Industries Ltd:RIL and its partner BP will get only $4.06 a unit for the new gas they have started to produce from the eastern offshore KG-D6 field even though they have discovered a higher rate in an open market auction, PTI cited sources as saying.
IDBI Bank: IDBI Bank has raised Rs 1,435 crore through an issue of equity shares to 44 qualified institutional investors, according to a regulatory filing. The bank had targeted to raise Rs 2,000 crore (base size Rs 1,000 crore and green-shoe option of Rs 1,000 crore) through the QIP issue at a floor price of Rs 40.63 apiece.
Canara Bank: Canara Bank on Saturday clarified that it has an exposure of Rs 678.28 crore in the account of M/s Transstroy India Ltd, reported as fraud to the RBI on February 10, 2020, where 100 per cent provision has been made in the account.