Sensex and Nifty are in the firm grip of bears after having fallen nearly 3.8% each since the middle of November.
Sensex and Nifty are in the firm grip of bears after having fallen nearly 3.8% each since the middle of November. SGX Nifty was hinting at a continuation of weakness today. Chartists too believe there is more weakness ahead and advise against long bets. “The overall chart pattern as per smaller and larger timeframe is weak and more weakness could be in store in the near term. Having declined sharply from the highs, the minor pullback rally from the lows can’t be ruled out in the short term, before showing another round of weakness in the market,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “Further lower levels to be watched at 17000-16800 in the next few weeks,” he added.
Bharti Airtel – The telecom giant was the top gainer on Sensex yesterday while Dalal Street witnessed a bloodbath, as investors reacted to the increase in tariffs. Airtel shares could be in action again today after TRAI data showed the company Airtel adds 2.74 lakh mobile users in Sept while Jio and VIL lost subscribers.
Latent View Analytics – Shares of Latent View Analytics will list of the bourses today. The Rs 600-crore IPO saw massive oversubscription earlier this month. Latent View will be the first IPO to list after Paytm’s dismal debut last week.
Reliance Industries – Mukesh Ambani’s Reliance Jio lost a massive 1.9 crore subscribers according to TRAI data. India’s largest telecom operator Reliance Jio had 42.48 crore mobile subscribers as of September as it lost a net 1.90 crore users.
Vodafone Idea – Struggling telco Vodafone Idea lost 10.77 lakh subscribers during September as its subscriber base shrank to 26.99 crore. Vodafone Idea has been losing subscribers rapidly.
DLF – DLF Cyber City Developers Limited, a subsidiary of the company has approved allotment of Senior, Secured, Rated, Listed Redeemable Non-Convertible Debentures with an aggregate principal amount of Rs 1,000 crore on private placement basis, to certain eligible investors.
Spandana Sphoorty – The board of Spandana Sphoorty Financial on Monday approved the appointment of Shalabh Saxena as managing director (MD) and chief executive officer (CEO) for five years beginning from the from date of joining.