Nifty futures tumbled 84 points or 0.47 per cent to 17640.50 on Singaporean Exchange, hinting at a heavy sell-off in BSE Sensex and Nifty 50
Nifty futures tumbled 84 points or 0.47 per cent to 17640.50 on Singaporean Exchange, hinting at a heavy sell-off in BSE Sensex and Nifty 50. Technical analysts say daily charts show that the key support level for the Nifty is 17,580. It managed to close above its 15-day exponential moving average of around 17, 541 on the daily chart which will act as strong support followed by 17,510. “The intermediate upside targets for the Nifty are 18,000 and 18,280. The intermediate uptrend remains bullish as the Nifty continues to make higher tops and higher bottoms over the last many months,” Aprajita Saxena, Research Analyst, Trustline Securities, told Financial Express Online.
Stocks to watch
Bharti Airtel: Crisil Ratings has upgraded its long term rating on the bank facilities and debt programme of Bharti Airtel Limited to ‘CRISIL AA+/Stable’ from ‘CRISIL AA/Stable’, and has reaffirmed the ‘CRISIL A1+’ rating on the commercial paper programme. It has withdrawn its rating on Rs 1,500 crore non-convertible debentures (NCDs), as they have been fully repaid.
SAIL, Madras Fertilizers, National Fertilizers: Many large and medium-sized CPSEs, Steel Authority of India (SAIL) and construction firm NBCC (India) are likely to feature on the initial list of firms for privatisation, as the government embarks on the path of privatising or closing down all CPSES in the ‘non-strategic sectors’ in a phased manner. Other CPSEs likely to be on the first list are Madras Fertilizers and National Fertilizers, an official source said.
Adani Gas: In a setback to Adani Gas, the Supreme Court on Tuesday rejected its appeal seeking authorisation for distribution of natural gas to commercial and industrial units in the areas of Sanand, Bavla and Dholka of Ahmedabad district of Gujarat.
RIL, Future group stocks: The National Company Law Tribunal (NCLT) on Tuesday allowed Kishore Biyani-led Future Group firms to hold meetings of its shareholders and creditors to seek approval for the sale of assets to Reliance Retail Ltd.
Lupin: Drug maker Lupin said it has launched Droxidopa capsules, used in treating orthostatic dizziness, in the US market.