Nifty futures were trading 46.55 points or 0.31 per cent down at 14,828 on Singaporean Exchange, suggesting a negative opening for BSE Sensex and Nifty 50. In previous session, due to weak global market cues, Nifty and Sensex witnessed selling pressure, and shed over 90 points and 340 points, respectively. According to an analyst, post strong uptrend rally, bulls may prefer to take a temporary pause near 14950/ 49500 and because of weak global market conditions market likely to consolidate between 14750 to 14900/ 48500-49300 price range. “For the day traders, 14900/49300 would be the key level to watch out, above the same we can expect continuation of uptrend wave up to 14965-15000/ 49800-50000,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.
Stocks to watch today:
RIL, Airtel, Voda-Idea: Telecom stocks such as Reliance Industries Ltd, Bharti Airtel, Vodafone Idea will remain in focus today. India’s largest telecom operator Reliance Jio added 4.26 million wireless customers followed by 3.73 million by Bharti Airtel. While Vodafone Idea managed to add 652,625 subscribers in February, according to the Telecom Regulatory Authority of India (Trai).
Yes Bank: Bay Tree India Holdings, owned by Tilden Park, reduced its stake in Yes Bank by 2.08%, representing nearly a third of its holding in the lender. According to regulatory filings, Bay Tree now holds a 5.4% stake in Yes Bank.
Asian Paints, Pidilite Industries: Lupin, Jindal Steel & Power, UPL Ltd, Asian Paints, Pidilite Industries, Tata Power Company, Voltas, Apollo Tyres, Happiest Minds Technologies, Mahindra Lifespace Developers, HG Infra Engineering, Sagar Cements, and Birla Corporation are some of the companies that will report their quarterly results today.
Infosys: Infosys announced that it has been selected by Britvic, one of the leading branded
soft drinks businesses in Europe, as a strategic end-to-end partner to help them deliver their strategic
transformation roadmap and operations, across Applications, Cloud Infrastructure, Service Management and End User Computing.
Dr Reddy’s Laboratories: Dr. Reddy’s Laboratories Ltd, along with its subsidiaries together referred to as announced the launch of Ertapenem for Injection, 1 g/vial, a therapeutic equivalent generic version of INVANZ (ertapenem for injection) for injection, 1 g/vial approved by the U.S. Food and Drug Administration (USFDA).
Siemens: Siemens reported a consolidated profit at Rs 334.4 crore in Q2FY21 against Rs 175.7 crore in Q2FY20, revenue increased to Rs 3,483.7 crore from Rs 2,640.2 crore-on year.