Nifty futures were trading 24.50 points down at 13,661.50 on Singaporean Exchange, indicating a gap-down start for BSE Sensex and Nifty 50 on Thursday
Analysts say any aggressive fresh buying should definitely be avoided at current levels.
Nifty futures were trading 24.50 points down at 13,661.50 on Singaporean Exchange, indicating a gap-down start for BSE Sensex and Nifty 50 on Thursday. Market participants will react to US Federal Reserve’s announcements, and watch stock-specific developments. “On Thursday, the market should trade within the levels of 13750 and 13550. A close below the 13550 levels would be negative for the market. It is also advisable to take profit on a trading long positions between 13740/13760 level,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.
IndusInd Bank: IndusInd Bank said Sebi has granted one-month extension for its promoters to infuse residual capital in lieu of conversion of warrants, issued to them last year, worth over Rs 2,695 crore into equity.
Hero MotoCorp: Hero MotoCorp released its statement on price increase. “In order to partially offset the impact of the commodity costs, we will be increasing the prices of our products by upto Rs 1500, with effect from January 1, 2021. The increase will vary across models, and the exact quantum will be communicated to our dealers in due course,” it said.
Wipro: Wipro informed that it has signed a definitive agreement to acquire Encore Theme Technologies Private Limited, a specialist in providing SaaS and Cloud solutions in financial services.
Sugar stocks: The government on Wednesday approved a subsidy of Rs 3,500 crore to sugar mills for the export of 60 lakh tonnes of sweetener during the ongoing marketing year 2020-21 as part of its efforts to help them clear outstanding dues to sugarcane farmers.
CSB Bank, Indiabulls Housing Finance, Snowman: Nomura Singapore bought shares of CSB Bank on Wednesday, Kotak Securities bought shares of Indiabulls Housing Finance. Adani Logistics continued to sell shares of Snowman Logistics. Third Alpha LLP bought shares of Majesco, the IT firm that has announced a Rs 974 per share dividend.