At the start of the May series, Telecom, Consumption, Energy, Realty, FMCG, and Banking sectors witnessed significant OI addition. FIIs’ long ratio has fallen to 40 percent in Index futures, implying a shift towards more hedged positions.
Chairman and CEO Manish Gupta of Indegene says that a portion of the IPO proceeds will be used to repay debt, which includes interest costs associated with a previous loan. This, according to him, will boost the company s profitability.
Notwithstanding the FOMC outcome, Nifty is indicating a buy at current levels as it may head towards 22,850 levels, and a sustenance above 22,800-22,850 can propel it towards the 23,000 mark