Nifty futures were trading flat in the early trade at 14,236.50 on Singaporean Exchange on Wednesday.
According to the technical analysts, if Nifty 50 index gets past 14250 levels, then it may further move to 14350-14400 levels.
Nifty futures were trading flat in the early trade at 14,236.50 on Singaporean Exchange on Wednesday. In the previous session, BSE Sensex and Nifty 50 ended at all-time highs on the back of strong buying witnessed in the broader markets as well as financial and IT stocks. Markit Services PMI data for December is scheduled to be released later in the day today. According to the chartists, the short-term trend in Nifty 50 index remains positive. “Though intraday profit booking is emerging from the new highs on daily basis, the strong buying is also witnessing on dips. The next Fibonacci projection resistance is at 14310 and the near term upside targets to be watched around 14600-14800 levels. Immediate support is placed at 14080,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
HDFC Bank: HDFC Bank reported double-digit growth in deposits and advances in the third quarter ended December 31. The bank’s deposit base increased to Rs 12.7 lakh crore, up 19.1 per cent on-year while 3.4 per cent sequentially.
HDFC:Housing Development Finance Corporation on Tuesday said it is planning to raise up to Rs 5,000 crore by issuing bonds on private placement basis to meet its business requirements. HDFC will issue secured redeemable non-convertible debentures (NCDs) on private placement basis with an issue size of Rs 2,000 crore and an option to retain over-subscription of up to Rs 3,000 crore, according to a regulatory filing.
IndiGo: Budget carrier IndiGo will now be able to operate longer overseas routes with its 29 Airbus A320/A321neos, powered by modified P&W engines, getting extended diversion time operations (EDTO) approval from aviation regulator DGCA, PTI cited a source as saying.
IndusInd Bank: Private lender IndusInd Bank has registered a 3.2% quarter-on-quarter (q-o-q) growth in the net advances in the December quarter, according to provisional data released by the bank on Tuesday. However, the loan growth remained flat during the quarter on a year-on-year (y-o-y) basis.
Bajaj Finance: The Reserve Bank of India (RBI) on Tuesday imposed a monetary penalty of Rs 2.50 crore on Bajaj Finance for using coercive methods of recovery from its borrowers, and violation of general guidelines and one specific direction issued by the regulator.
Tata Steel: Tata Steel has embarked on developing a GreenPro framework, GreenPro Ecolabel, to manufacture steel rebars, a first of a kind initiative in India, that would help the steel sector reduce the carbon foot print while manufacturing steel products.