Nifty futures were trading 15 points down at 17,404 on Singaporean Exchange, suggesting a lower start for BSE Sensex and Nifty 50 on Tuesday
Nifty futures were trading 15 points down at 17,404 on Singaporean Exchange, suggesting a lower start for BSE Sensex and Nifty 50 on Tuesday. In the previous session, S&P BSE Sensex closed at 58,296, gaining 0.29% while NSE Nifty 50 ended the day at 17,377 or up by 0.31%. The market continued its positive momentum and mirrored the upmove in other global markets. Analysts say that the Nifty is still maintaining a higher bottom formation which is broadly positive. “The markets being in an overbought situation could trigger a quick intraday correction if it trades below 17330 support level. As long as the index is trading above 17330 the uptrend texture is likely to continue up to 17450-17500 levels. On the flip side, if Nifty trades below 17330, it could trigger an intraday correction up to 17250-17210 levels,” Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities, said.
Stocks in focus
Infosys: Infosys in a BSE filing informed it has almost completed its buyback programme and its buyback committee will meet on 8 September 2021 to consider closure of the buyback programme. Infosys board has approved an up to Rs 9,200 crore buyback plan, at a maximum price of Rs 1,750 apiece.
BPCL: Fitch Ratings on Monday said uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays in privatisation of India’s second-largest fuel retailer, Bharat Petroleum Corporation Ltd (BPCL).
Vodafone Idea: Vodafone Idea’s financial stress underlined by mounting losses and rising debt is likely to impact its financial lenders and have a bearing on employees and subscribers, ICRA said on Monday highlighting that government support is “critical” at this point.
Nuvoco Vistas: The consolidated revenue from operations of Nuvoco (including NU Vista Limited) stood at Rs 2,202.97 crore for the quarter ending June 30, 2021; consolidated EBITDA margin at 24% and consolidated PAT at Rs 114.28 crore.
Balrampur Chini Mills: Sugar manufacturer Balrampur Chini Mills has acquired 11.29 lakh equity shares of its own (0.53 per cent stake) at Rs 366.53 per share on the NSE, according to the bulk deals data.
Wonderla Holidays: Valuequest India Moat Fund offloaded 3.48 lakh equity shares of Wonderla Holidays at Rs 238.11 per share on the NSE, the bulk deals data showed.