Nifty futures were trading 37 points or 0.25 per cent higher at 14,882 on Singaporean Exchange on Thursday, suggesting a positive start for BSE Sensex and Nifty 50.
Technical analysts say that the Nifty index has given a breakout of its upper band of Falling Wedge formation, which signifies a bull run in the counter.
Nifty futures were trading 37 points or 0.25 per cent higher at 14,882 on Singaporean Exchange on Thursday, suggesting a positive start for BSE Sensex and Nifty 50. Technical analysts say that the Nifty index has given a breakout of its upper band of Falling Wedge formation, which signifies a bull run in the counter. “The index has given closing above 21-DMA, which suggests strength in the index. Additionally, the MACD indicator is trading with a positive crossover which suggests a positive rhythm in the counter. At present, the support has shifted to 14600 levels while an upside resistance seems at 15000 levels, said Sumeet Bagadia, Executive Director at Choice Broking.
Reliance Industries Ltd:Mukesh Ambani’s RIL is reported to have held talks with Saudi Aramco on a cash and share deal for sale of a 20 per cent stake in its oil refining and petrochemical arm, according to a PTI report. Saudi Arabia’s Crown Prince Mohammed bin Salman late on Tuesday hinted at talks to sell a minority stake in the Saudi national oil company to a foreign investor.
PowerGrid InvIT IPO: PowerGrid Infrastructure Investment Trust (InvIT) on Wednesday raised a little over Rs 3,480 crore from anchor investors ahead of its initial public offer, which opens for subscription on Thursday. PowerGrid InvIT is looking to raise Rs 7,735 crore through the issue which will include a fresh issue as well as an offer for sale (OFS) of existing units.
Bharti Airtel: Airtel is focused on ensuring its services offer predictability to customers in these tough times and has made an investment of over Rs 18,000 crores to buy spectrum that will dramatically improve indoor coverage in coming months, its Chief Executive Officer Gopal Vittal has said.
Bajaj Finserv: Bajaj Finserv posted a four-fold jump in its consolidated net profit to Rs 979 crore in the January-March quarter of the FY21, even as consolidated income rose 16 per cent on-year to Rs 15,387 crore. The company said the consolidated profit for the latest quarter was not comparable.