Nifty futures were in trading nearly half a per cent or 76.50 points down at 17,541.50 on Singaporean Exchange, suggesting a negative opening for BSE Sensex and Nifty 50. This week, markets will eye third-quarter earnings by IT companies, RBI’s monetary policy, India’s service PMI on the domestic front. While market participants will also track the movement of the dollar index, US bond yields, rupee trajectory, brent crude and FPI investments. Technical analysts say that even as the market will remain volatile in the near future, the 17650-17750 level would be the key resistance level for traders while 17400-17300 could act as sacrosanct support for positional traders. “Contra traders may take contra bet near 17300 support with strict support stop loss at 17250. On the flip side, partial profit booking is advisable between 17650 to 17750 levels,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, said.
Stocks to watch
ZEEL: Zee Entertainment Enterprises Ltd on Saturday filed a petition before the Bombay High Court asking it to declare the requisition by a foreign investor to hold an extraordinary general meeting (EGM) as “illegal and invalid”.
Maruti Suzuki, Paras Defence, TCS, RIL, ONGC, Sterling and Wilson, Bank of India stocks in focus
Bharti Airtel, SAIL, Madras Fertilizers, Adani Gas, RIL, National Fertilizers, Future group stocks in focus
Vodafone Idea, BPCL, RBL Bank, Finolex Cables, Zee Entertainment Enterprises stocks in focus
HDFC Bank: NSE International Exchange (NSE IFSC) on Friday said it has listed HDFC Bank’s additional masala bonds on its debt securities market platform. NSE IFSC is a wholly-owned subsidiary of the National Stock Exchange (NSE).
Federal Bank: Private sector lender Federal Bank on Sunday said it has posted a 10 per cent growth in advances at Rs 1,37,309 crore for the second quarter ended September 30. Total advances stood at Rs 1,25,209 crore at the end of the second quarter of the last financial year, Federal Bank said in a regulatory filing.
Avenue Supermarts: Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, has reported a 46.6 per cent increase in its standalone revenue from operations at Rs 7,649.64 crore for the second quarter ended September 2021.
RIL: Reliance Industries Ltd has incorporated a new subsidiary in the UAE for trading in crude oil, petroleum products and agricultural commodities. Reliance International Ltd has been incorporated as a wholly-owned subsidiary in Abu Dhabi Global Market, the United Arab Emirates (UAE), the firm said in a stock exchange filing.
Tech Mahindra: Tech Mahindra through its wholly-owned subsidiary Tech Mahindra GmbH approved the proposal to acquire 100 percent equity shares in Beris Consulting GmbH.
Birla Corporation: After securing major wins at the annual general meetings of the three cable manufacturing companies of the MP Birla group, the Lodhas have repeated that performance at the annual general meeting (AGM) of the group flagship Birla Corporation.
Dhanlaxmi Bank: The Reserve Bank of India (RBI) in June had advised Dhanlaxmi Bank to ensure transparency in the nomination process of directors and follow the best corporate governance practices. The regulator also directed the bank to expedite and complete the process of appointment of directors.