Market Preview
FRIDAY
12-April-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 a bullish candlestick pattern with upper and lower shadows on the daily charts.
- India VIX fell by 2.17 percent to 11.11 levels.
- TCS to announce Q4FY24 earnings today
- ECB holds rates at record highs, signals upcoming cut
- US weekly jobless claims fall more than expected; continuing claims rise
- ADB raises India's GDP growth forecast for FY25 to 7% on robust investment, consumer demand
- Bandhan
Bank: The lender has received approval from the board of directors for
the appointment of Satish Kumar as head of wholesale banking, with
effect from April 10.
- Larsen
& Toubro: The infrastructure major has completed the divestment of
its entire 51 percent stake in L&T Infrastructure Development
Projects to Epic Concesiones.
- Bank
of Baroda: The public sector lender has increased its marginal cost of
funds-based lending rate (MCLR) by 5 bps across most of the tenures
(barring one month), with effect from April 12.
Stocks in NEWS
Tata
Consultancy Services: The country's largest IT services company is set
to release its quarterly as well as full year earnings scorecard on
April 12. In addition, Anand Rathi Wealth will also announce its
quarterly earnings on the same day.
Bharti
Hexacom: The subsidiary of telecom operator Bharti Airtel is set to
debut on the bourses on April 12. The final issue price has been fixed
at Rs 570 per share.
Maharashtra
Seamless: The company has received order worth Rs 674 crore from ONGC
for supply of casing seamless pipes. The order will be executed within
44 weeks.
Computer
Age Management Services: The company has received certificate of
authorisation from the Reserve Bank of India, to operate as an online
payment aggregator.
Metropolis
Healthcare: The company experienced around a 10 percent YoY increase in
overall revenue for quarter ended March FY24. The core business revenue
grew by 15 percent YoY driven by volume growth approximately 8 percent
and RPP growth at 7 percent YoY for the quarter.
DCX Systems: The company has appointed Diwakaraiah N J as Chief Financial Officer (CFO), with effect from April 11.
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 equity
market, jumped to 1.32 on April 10, from 1.09 levels in the previous
session.
BULK Deals: BLB limited, Tarmat limited etc.
Stocks In F&O Ban Period: Balrampur
Chini Mills, National Aluminium Company, Exide Industries, Hindustan
Copper, Vodafone Idea, India Cements, SAIL, and Zee Entertainment
Enterprises
Results Today: Nil
FII-DII: FIIs were net buyers of Rs.2778.17 crores whereas DIIs were net buyers of Rs.163.36 crores in cash market for last trading session.
NIFTY (22754) The support for the Nifty is: 22695-22670-22632 and the Resistance to the up move is at: 22763-22797-22835 levels.
BANKNIFTY (48987): The support for BankNifty is: 48756-48664-48520 and the resistance to the up move is at 49022-49144-49295 levels
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