Nifty futures traded 38 points or 0.21 percent higher at 18,442 on the Singaporean exchange on Monday, indicating the start of a gap in BSE Sensex and Nifty 50 cents. The benchmark index crossed the 61,000 mark for the first time on Thursday. Analysts say Nifty has already risen nearly 900 points this month, so there is a strong possibility of temporary weakness. “We see that 18200 may be a trend-setting level for positional traders and above the same level, the uptrend will continue to form until the levels of 18500-18750. On the other hand, the dismissal of 18200 could trigger another correction wave reaching the levels of 18100-18050,” Shrekant said. Chauhan, Head of Equity Research (Retail), Kotak Securities.
stock to watch
Bharti Airtel, Vodafone Idea: The second quarter of the fiscal year is likely to be a healthy quarter for carriers, as Jio’s performance will be driven by subscriber additions, and Bharti Airtel and Vodafone Idea will benefit from tariff increases and some recovery after the severe wave of COVID-19, according to some analysts.
HCL Tech, Infosys, Reliance, Wipro, Zee Entertainment, Mindtree and Coal India under focus
Stocks to buy: Nifty eyes target 18125, Sensex may reach 60700; Axis Bank, Escorts and Havells are strong on the charts
Focus on shares of Reliance Industries, Tata Motors, ONGC, Oil India, Infosys, Wipro, Mindtree and Coal India
RIL: Freshpik, the first experimental gourmet food store from Reliance Retail, has launched its first store on Geo World Drive in the Bandra Kurla Complex in Mumbai. With the launch of Freshpik, Reliance Retail enters the premium quality grocery segment in India.
HDFC Bank, Avenue Supermarts: HDFC Bank and Avenue Supermarts announced second-quarter earnings last week. HDFC Bank reported stand-alone profit of Rs 8,834 crore in Q2 FY22 as against Rs 7,513.11 crore in Q2 FY21, net interest income increased to Rs 17,684.39 crore from Rs 15,776.39 crore on annual basis.
UltraTech Cement, L&T: Companies listed on the Bahrain Stock Exchange such as UltraTech Cement, Larsen & Toubro Infotech, Route Mobile, Alok Industries, Concord Drugs, Craftsman Automation, Gujarat Hotels, Hathway Bhawani Cabletel & Datacom, Hatsun Agro Product, International Travel House, Lloyds Steels Industries and corporate advisors Navigators, Sunedison Infrastructure, SVP Global Ventures, Tanfac Industries, Tata Coffee and Uniply Decor will report September quarter earnings on October 18.
Fortis Healthcare: Rakesh Jhunjhunwala’s contribution to Fortis Healthcare decreased to 4.23% (3.19 crores per share) in the September quarter 2021, from 4.31% (3.25 crores per share) in the June quarter.
PNB Housing Finance: PNB Housing Finance said it aborted a Rs 4,000 crore share sale plan to US-based private equity firm Carlyle Group and others.