Domestic equity market benchmarks BSE Sensex and Nifty 50 were likely to see a huge gap-down opening on Wednesday, as suggested by trends on SGX Nifty in early trade. Nifty futures were ruling at 17,861, down 160 points or 0.9 per cent. In the previous session, S&P BSE Sensex was down 435 points or 0.72% at 60,176 while the Nifty 50 index closed 96 points or 0.53% lower at 17,957. Analysts say that the sharp upside momentum in the market seems to have halted and the Nifty shifted into a minor profit booking mode. “Any sharp weakness from here could be ruled out, but one may expect range movement around 18200-17800 levels for the next few sessions. The important resistance of 18200 levels could eventually be broken on the upside,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

Stocks to watch

Reliance Industries, TVS Motor Company: Jio-bp and TVS Motor Company announced that they have agreed to explore the creation of a robust public EV charging infrastructure for electric two-wheelers and three-wheelers in the country. Under this proposed partnership, the customers of TVS electric vehicles are expected to get access to the widespread charging network of Jio-bp, which is also open to other vehicles.

Tata Steel: Tata Steel India achieved its highest ever annual crude steel production of 19 million tonne, with 13% growth in the financial year ended March 2022 over last year, despite the Covid second wave-related disruption early in the year, the company said on Tuesday.

Reliance Infrastructure: Reliance Infrastructure on Tuesday moved the Supreme Court seeking to restrain Tamil Nadu-based NLC India from enchasing its advance bank guarantees (ABGs) to the tune of over Rs 150 crore.

Future Retail: Amazon on Tuesday told the Delhi High Court that it should restrain Future Retail (FRL) from further transfer of assets until the arbitration before the Singapore tribunal over its dispute with the latter’s Rs 24,500-crore merger deal with Reliance Retail is over.

Bandhan Bank: Kolkata-based Bandhan Bank on Tuesday said its loan book crossed the Rs 1-lakh-crore-mark for the first time in January-March 2022, registering an increase of 16 per cent compared to the same period a year ago.

Zomato: Food delivery app Zomato on Tuesday said it is in compliance with competition laws of the country — a position it will explain to the anti-monopoly authority CCI during the probe on the preferential listing of restaurants.

Yes Bank: The private lender said its net advances grew by 8.8 per cent to Rs 181,508 crore in the fiscal ended March 31, 2022. The bank’s net advances were at Rs 166,893 crore in the previous fiscal ended March 2021.