Trends on SGX Nifty suggested a positive opening for BSE Sensex and Nifty 50 on Thursday. Nifty futures were trading 85 points higher at 14,265 on Singaporean Exchange.
Trends on SGX Nifty suggested a positive opening for BSE Sensex and Nifty 50 on Thursday. Nifty futures were trading 85 points higher at 14,265 on Singaporean Exchange in early trade. Factors such as newsflow related to COVID-19 vaccine, stock-specific development, oil prices, rupee movement and other global cues will guide the indices today. In the previous session, Sensex fell 263.72 points to 48,174.06 while the Nifty 50 index slipped 53.20 points to 14,146.30. According to an analyst, the texture of the market is weak, and weakness is likely to continue in the short run. “For the next few trading sessions, 14200/48500 should be the sacrosanct level for the traders, trading below the same we can expect further price correction up to 14035-13950/48600-48000. On the flip side, trading above 14200/ 48500 may trigger one more uptrend rally till 14300-14335/ 48800-49000,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.
Stocks in focus today:
TCS: Tata Sons tendered shares worth Rs 9,997 crore of Tata Consultancy Services (TCS) during the IT major’s Rs 16,000 crore-buyback offer that concluded recently. The single largest shareholder of TCS, Tata Sons tendered more than 3.33 crore shares during the offer, according to a regulatory filing.
Real estate stocks: A move that could lead to reduction in prices of houses in Maharashtra, the state government, on Wednesday, cleared a proposal to cut levies on real estate by 50% until December 2021. This will essentially result in reduction of several premiums that developers have to pay as part of development of a project. According to real estate industry experts, if these reductions are passed on to the homebuyers, the prices in the city may come down.
Bharti Airtel: Bharti Airtel has moved the Supreme Court (SC) asking for a modification in its order so that the Department of Telecommunications (DoT) can finalise its assessment of AGR dues after taking into account the representations made by various telcos.
Wipro: Strengthening the India-Israel scientific collaboration, Indian multinational corporation Wipro has signed a Memorandum of Understanding (MoU) with Israel’s Tel Aviv University for research and analysis in quantum science and technology.
Vodafone Idea: According to the Telecom Regulatory Authority of India’s (TRAI) data for voice calls on its MyCall portal, the third largest wireless telecom operator in the country, the Vodafone Idea has ratings for voice quality vis-a-vis its competitors. On a scale of 5, Idea topped the list with a rating of 4.9 in outdoor and indoor average voice call quality.