Trends in SGX Nifty pointed to a lower open for national equity market indices. Picture: .
BSE Sensex and Nifty 50 are once again looking to open in the red on Wednesday, after closing almost one percent lower in the previous session. S&P BSE Sensex is at 48,253, 465 points down, while the Nifty 50 Index closed just below 14,500. Trends in SGX Nifty pointed to a lower open for national equity market indices. Technical analysts believe that the Nifty 50 Index has not broken the 14,400 level at the close, which means that support is still holding. “If it exceeds this level, Nifty could see levels closer to 14000-14100. On the upside, there is strong resistance at 14700 and until we break above it, we will not enter an uptrend. It is a narrow range and traders should be cautious in their approach, ”said Manish Hathiramani, proprietary index trader and technical analyst at Deen Dayal Investments.
Actions in focus today
Tata Steel, Adani Green Energy: Up to 20 BSE-listed companies, including Adani Green Energy, Tata Steel, SRF, Adani Enterprises, Deepak Nitrite, Craftsman Automation and Angel Broking, among others, will announce their January-March quarter earnings on May 5.
Shares of Kotak Bank, Adani Ports, ICICI Bank, Tata Chemicals, JSW Energy, L&T Tech in focusRIL, Kotak Bank, TCS, Maruti Suzuki, Yes Bank, SBI Life, IndusInd Bank, autos, acciones del grupo Adani en focoNifty can reach 15,000, if he has 14,700; Bank Nifty Looks Positive on Charts; buy TCS, Wipro, among others
Banco RBL: RBL Bank reported a 34 percent year-on-year drop in net profit to Rs 75 crore as core income declined and provisions increased. The lender’s net interest income (NII) decreased 11 percent year-on-year to Rs 906 crore.
Steel Stock: Mills have raised prices to Rs 4,500 per tonne since the beginning of the month, bringing the reference price for hot rolled coil (HRC) in the Mumbai market to a record high of nearly Rs 68,000 per ton.
Adani Total Gas: Adani Total Gas (ATGL) on Tuesday reported an 8.2 percent year-on-year net profit increase to Rs 471.9 crore in FY 21 independently as the company used lower natural gas prices in middle of the drop in demand during the closings.
Coal India: With the second wave of Covid-19 affecting more than 5,400 employees of Coal India (CIL) and its districts, including contract workers in all subsidiaries, operations have slowed down. However, extraction in April grew thanks to a stockpile of more than 99 million tons.
Hindustan Aeronautics Ltd: Hindustan Aeronautics Limited (HAL) and Rolls-Royce have signed a memorandum of understanding to establish packaging, installation, marketing and service support for Rolls-Royce MT30 marine engines in India. Through this MoU. Rolls-Royce and HAL will expand their long-standing partnership in India and work together in the area of marine applications for the first time.
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