Market Preview
FRIDAY
03-May-2024
Today’s Market Prediction:
- Indian stock market Would open POSITIVE
- Technically, Nifty is in the Negative zone- BankNifty is in the Positive zone.
- Nifty index formed bullish candlestick pattern with minor upper shadow on the daily charts.
- India VIX up by 4.46 percent to 13.45 levels.
- India's services exports decline marginally in March to $30 bn
- Bayer acquires remaining 25% stake in Bayer Zydus Pharma
- Adani Enterprises received 2 show cause notices from Sebi
- Coal India Q4 net profit rises 26% to Rs 8,640.5 crore
- Coforge to buy 54% in Cigniti Technologies at Rs 1,415 per share
- Wipro: Independent Health, Western New York’s Medicare Advantage Plan, has selected Wipro to implement their Medicare Prescription Payment Plan platform for the upcoming open enrollment period.
Stocks in NEWS:-
Coal India: The country's largest coal mining firm has recorded consolidated net profit at Rs 8,640.5 crore for the quarter ended March FY24, rising sharply by 25.8 percent over a year-ago period despite weak topline, aided by strong operating numbers with fall in input cost and employee expenses.
Coforge: The IT services company has recorded consolidated net profit at Rs 229.2 crore for the March FY24 quarter, falling 5.6 percent compared to previous quarter, impacted by weak operating numbers.
Jubilant Pharmova: The company has approved the appointment of Harsher Singh as CEO of radiopharma business.
Ajanta Pharma: The specialty pharmaceutical formulation company has reported consolidated net profit at Rs 203 crore for quarter ended March FY24, rising sharply by 66 percent over same period previous fiscal.
Cyient: HDFC Mutual Fund has bought additional 11,33,893 equity shares (equivalent to 1 percent of paid-up equity) in the IT company at an average price of Rs 1,800 per share, valuing it at Rs 204.1 crore.
MOIL: The company's manganese ore production in April 2024 increased by 22 percent year-on-year to 1.60 lakh tonnes, while sales grew by 17 percent on-year to 1.15 lakh tonnes during the month.
Market Indication:
Global: FLAT to POSITIVE
NIFTY: FLAT to POSITIVE
BANKNIFTY: FLAT to POSITIVE
PCR:The Nifty Put-Call ratio (PCR), which indicates the mood of the market, rose to 1.28 on May 2, from 1.11 levels in the previous session.
BULK Deals: Cyient limited,Mos utility limited etc
Stocks In F&O Ban Period: Vodafone Idea, Biocon and Aditya Birla Fashion & Retail
Results Today:Titan Company, Britannia Industries, Tata Technologies, Aarti Drugs, Adani Green Energy, Aptus Value Housing Finance India, Godrej Properties, Inox Green Energy Services, Inox Wind, JSW Infrastructure, MRF, Raymond, and Waaree Technologies
GIFT NIFTY: (Positive)
22889 +105.50 +0.46%
FII-DII: FIIs were net sellers of Rs.964.47 crores whereas DIIs were net buyers of Rs.1352.44 crores in cash market for last trading session.
NIFTY (22648) The support for the Nifty is: 22588-22554-22500 and the Resistance to the up move is at: 22697-22730-22785 levels.
BANKNIFTY (49231): The support for BankNifty is: 49140-49044-48890 and the resistance to the up move is at 49450-49545-49700 levels
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