Nifty futures were trading 242 points or 1.63 per cent higher at 15,048 on Singaporean Exchange, indicating a strong opening for BSE Sensex and Nifty 50 on Thursday
Nifty futures were trading 242 points or 1.63 per cent higher at 15,048 on Singaporean Exchange, indicating a strong opening for BSE Sensex and Nifty 50 on Thursday. The Indian share market may continue with volatility given the monthly F&O expiry today. According to an analyst, the short term downtrend trend of Nifty seems to be placed at the verge of reversal and further upmove is expected to confirm this turnaround in the market. “Further sustainable upmove could confirm reversal pattern and that could pull Nifty towards 15430 levels again. On the flip side, any failure to sustain the gains could bring Nifty back to the support of 14650 in the near term,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks in focus today:
Nureca: Rs 100-crore Nureca initial public offering (IPO) was subscribed 39.93 times during the three-day bidding process. The shares of home healthcare and wellness products firm is set to list on stock exchanges today.
Max Life Insurance, Axis Bank: Max Financial Services Ltd (MFSL) on Wednesday said the Insurance Regulatory and Development Authority of India (IRDAI) has given its approval for the acquisition of up to 12 per cent stake in Max Life Insurance by Axis Bank and its subsidiaries Axis Capital and Axis Securities (together Axis entities). As per the proposed transaction, Axis entities have the right to acquire up to 19 per cent stake in Max Life; of which, Axis Bank proposes to acquire up to 9 per cent.
Bharti Airtel, Vodafone Idea: The Supreme Court on Wednesday said it will hear both Bharti Airtel and Vodafone Idea’s pleas seeking recalculation of their adjusted gross revenue (AGR) dues in two weeks. Both telcos had in January moved the apex court seeking directions to the department of telecommunications (DoT) to recalculate AGR dues.
Affle India: Affle Holdings Pte Ltd on Wednesday sold 3 lakh shares of the company worth over Rs 161 crore through an open market transaction.