Ahead of Market: 12 things that will decide stock action on Friday
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Last Updated: May 20, 2021, 10:20 PM IST
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Synopsis
Analysts said, Nifty may end up going back to a broad trading range if it doesn t end up seeing any followup buying.
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By Sabari Saran
New Delhi: The domestic equity market continued to fall for the second straight day as sharp sell-off in metals and financial counters weighed on investor sentiment. The index breached the psychologically important 15,000-mark, forming a bearish candle on the daily chart.
Analysts said, Nifty may end up going back to a broad trading range if it doesn t end up seeing any followup buying. Nifty will need to hold above the 15,000 level to witness any further bounce. Will the market regain the 15,000 level or see pain in the short term?
Synopsis
Tata Elxsi, Amrutanjan Healthcare, JSW Steel, Greenlam Industries, Suven Life Sciences, Vinati Organics and Jindal Steel & Power witnessed strong buying interest from market participants as they scaled their fresh 52-week highs on Friday, signalling bullish sentiment.
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Nifty formed a Doji on both daily and weekly scales.
NEW DELHI: After trading on a volatile note in Friday s session, headline index Nifty formed indecisive candles similar to Doji formations for both Friday s session and for the week gone-by.
Rohit Singre of LKP Securities said Nifty50 has created a good base near the 14,250-14,200 range. “As long as these levels hold up, the structure will remain positive. A stiff hurdle lies in the 14,450-14,500 zone. The index may find fresh strength only above the 14,500 level,” he added.
ACC to announce January-March earnings today. Macrotech Developers to list on the exchanges today. Stocks to track in trade for April 19, 2021: HDFC Bank, ICICI Lombard General Insurance, Bharti Airtel, Agro Tech Foods. | Photo Credit: BCCL
Key Highlights
Mindtree: Strong Q4 in-line, strong operational efficiency, and broad-based growth momentum.
Macrotech Developers to lists on stock exchanges today.
HDFC Bank
Reported a healthy quarter, with advances growth driven by both Corporate and continued revival in the Retail segment. Operating performance remained steady, led by robust business growth, stable margins, and controlled opex. The PAT came in at Rs 8186 cr vs Rs 6927cr, up 18.2% YoY. The Profits impacted by higher provisions NPA rise sharply at 71% QOQ but the Q4 GNPA at 1.32% vs. proforma NPA of 1.38% as of Dec 2020.
BANDAR SERI BEGAWAN, Feb. 8 (Borneo Bulletin/ANN): Brunei Darussalam signed a memorandum of understanding (MoU) with the Republic of Singapore to strengthen cooperation in agrifood and agro-technology.
Signing on behalf of the Government of His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam was Permanent Secretary at the Ministry of Primary Resources and Tourism (MPRT) Hajah Tutiaty binti Haji Abdul Wahab, while Singapore Food Agency Chief Executive Officer Lim Kok Thai signed on behalf of the Republic of Singapore.
The signing will widen cooperation between the two countries in fields of agriculture, fisheries and aquaculture, agrotechnology, especially in capacity building and market access.