Reliance Industries, Vodafone Idea, Bharti Airtel, Axis Bank, Future Retail stocks in focus on F&O expiry day

Domestic equity market benchmarks BSE Sensex and Nifty 50 were set to open on negative note on Thursday, a day of weekly F&O expiry.

Reliance Industries, Vodafone Idea, Bharti Airtel, Axis Bank, Future Retail stocks in focus
Nifty futures were trading 138 points or 0.77 per cent down at 17,835 on Singaporean Exchange. .Image: Pexels

Domestic equity market benchmarks BSE Sensex and Nifty 50 were set to open on negative note on Thursday, a day of weekly F&O expiry. Nifty futures were trading 138 points or 0.77 per cent down at 17,835 on Singaporean Exchange. In the previous session, S&P BSE Sensex gained 367 points or 0.61% to settle at 60,223 while NSE Nifty 50 added 120 points or 0.67% to end the day’s trade at 17,925. “Nifty’s immediate support and resistance can be 17,600 and 18,200 respectively. While for Bank Nifty 37300 and 38200 may act as immediate support and resistance,” Mohit Nigam, Head – PMS, Hem Securities, said.

Stocks to watch

Vodafone Idea: In a setback to Vodafone Idea, the Delhi high court has stayed an order from telecom tribunal TDSAT which prevented Telecom Regulatory Authority of India (Trai) from taking any coercive action against the company for not giving outgoing SMS facility on low-value tariff plans, thereby creating barriers for customers to send porting out SMS for mobile number portability (MNP).

Future Retail: A day after receiving a setback from a single-judge bench of the Delhi High Court, Future Retail on Wednesday got a reprieve from the court’s division bench, which stayed the arbitration proceedings initiated by Amazon before a Singapore tribunal.

Bharti Airtel: Hughes Communications India (HCIPL), a majority owned subsidiary of Hughes Network Systems and Bharti Airtel have formed a joint venture to provide satellite broadband services in India.

Axis Bank: Axis Bank sold 38 lakh shares of Orient Green Power Company at Rs 22.40 per share through a bulk deal on NSE on Wednesday. Axis Bank also sold 45 lakh shares of the stock on BSE at Rs 22.80 per share.

Reliance Industries Ltd (RIL): Credit rating agencies Moody’s and S&P Global Ratings have assigned the rating of Baa2 with a stable outlook; and S&P Global Ratings BBB+ with a stable outlook for the issuance of senior unsecured US$ denominated fixed rate notes.

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