Nifty futures tumbled 109 points or 0.69 per cent to 15,666.50 on Singaporean Exchange on weekly options expiry day.
Nifty futures tumbled 109 points or 0.69 per cent to 15,666.50 on Singaporean Exchange on weekly options expiry day. BSE Sensex and Nifty 50 are expected to start in red, as per trends on SGX Nifty. Analysts see high volatility on options expiry day, with limited upside in the markets. A host of factors such as pace of COVID-19 vaccination, US FOMC outcome, crude oil prices, rupee movement against US dollar, stock-specific developments, and other global cues will provide further direction to the domestic markets. “We expect volatility to remain high in the indices due to scheduled weekly expiry. In case of a further slide, Nifty would find support around 15,600-15,650 zone on Thursday. On the higher side, the 15,800-15,850 zone would act as a hurdle,” said Ajit Mishra, VP – Research, Religare Broking.
Stocks in focus
Power Grid Corporation of India, DB Corp: BSE-listed companies such as Natco Pharma, Jammu & Kashmir Bank, Power Grid Corporation of India, DB Corp, Basant Agro Tech, Gyscoal Alloys, Global Vectra Helicorp, HealthCare Global Enterprises, Hindustan Media Ventures, IFB Agro Industries, Indostar Capital Finance, Khadim India, Kingfa Science, Nava Bharat Ventures, Novartis India, Power Mech Projects, Royal Orchid Hotels, Siel Financial Services, and Tube Investments of India, will announce their January-March quarter earnings on June 17.
Wipro: Wipro announced a partnership with Exaware, an Open Network routing solutions provider. The partnership will jointly develop advanced engineering solutions that foster innovation in the networking industry, streamline 5G technology upgrades, and open the door to future 6G compatibility.
Reliance Industries Ltd: The annual general meeting (AGM) of RIL to be held next Thursday could give clarity on pricing, features and tariffs of Jio-Google phones. At the company’s AGM last year, Mukesh Ambani, chairman and managing director, RIL, had announced that Google would partner with Jio to design an operating system to bring out an affordable entry-level smartphone, which Ambani said was a step in making India “2G-mukt”.
L&T Infotech: Mumbai-based L&T Infotech (LTI) has signed an agreement to acquire a 100% stake in Pune-based Cuelogic Technologies for $8.4 million in a full-cash transaction. In its filing on the NSE, LTI has said the transaction will be completed in two-four weeks
HPCL: Hindustan Petroleum Corporation Ltd is planning to lay a 215-km pipeline to transport liquefied petroleum gas (LPG) from the Haldia port to the company’s bottling plant in Panagarh, West Bengal. As much as 1.06 million tonne per annum (MTPA) of product is estimated to be transported through the pipeline by FY26.
ICICI Bank: ICICI Bank on Wednesday launched a set of banking solutions for corporates and their entire ecosystem, including promoters, group companies, employees, dealers, vendors and other stakeholders.