BSE Sensex and Nifty 50 were likely to open in the negative territory on Tuesday, as suggested by trends in SGX Nifty in early trade. Nifty futures were trading 23.50 points or 0.15 per cent down at 15,718 on Singaporean Exchange. In the previous session, Sensex plunged 1.10 per cent to 52,553 points while the NSE’s Nifty ended 1.07 per cent lower at 15,752. Technical analysts said that although the Nifty survived at 15700, the closing level was not encouraging. In addition, the market failed to close above the support levels of 20 days SMA and EMA that was around 15785 and 15765 levels respectively. “On Tuesday, the market must hold above the levels of 15600. On the dismissal of the same, the Nifty would fall to 15500 and 15450 levels. We need Nifty/Sensex to cross the levels of 15840 / 52850 levels for the bullishness in the market. Our advice is to buy in select stocks with a medium-term view,” Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, said.
Stocks to watch
Reliance Infrastructure: RInfra on Monday said it has raised Rs 550.56 crore through issuance of securities on preferential basis. Post allotment, the holding of the promoter group in Reliance Infra would increase to 22.06 per cent upon full conversion of warrants, the company said in a statement.
RIL shares firm, Just Dial tanks 5%; JP Morgan sees limited upside in RIL on new digital initiatives spending
Nifty may top 16,300 this week, Bank Nifty 36,600 in coming months; Infosys, IndiGo, Axis Bank top bets
Nifty, Bank Nifty outlook: Nifty to trade in 15,600-15,900 range, Bank Nifty may top 37,000; Infosys in focus
Bharti Airtel, Vodafone Idea: The Supreme Court on Monday said it will pass orders on the plea of telecom operators — Bharti Airtel, Vodafone Idea, and Tata Teleservices — seeking rectification of arithmetical errors in the calculation of their adjusted gross revenue (AGR) dues, but reminded them that its earlier order on the matter has ruled out any recomputation of the dues.
Bajaj Finance, Asian Paints: ICICI Prudential Life Insurance Company, Bajaj Finance, Asian Paints, Syngene International, ICICI Securities, Crisil, DCM Shriram, Shyam Metalics and Energy, ITDC, Newgen Software and Jubilant Ingrevia are among the company that will release April-June quarter earnings on July 20.
HCL Tech: HCL Technologies on Monday said its founder Shiv Nadar will take on the role of Chairman Emeritus and Strategic Advisor to the company’s board. Nadar has tendered his resignation as the MD as well as the Director with effect from close of business hours on July 19, according to a regulatory filing. HCL Tech posted a 9.9 per cent rise in consolidated net profit to Rs 3,214 crore for the June 2021 quarter
Clean Science and Technology: The newly-listed Nomura India Investment Fund Mother Fund – The MTBJ AC Nomura India Investment Fund bought 10 lakh equity shares of the company at Rs 1,715.33 per share on the NSE.
GR Infraprojects: GR Infraprojects shares got listed at 105% premium over IPO price on Monday. The Nomura Trust and Banking Co as The Trustee of Nomura India stock Mother Fund bought 5 lakh equity shares of the company at Rs 1,714.6 per share in bulk deals on the NSE.
Just Dial: Following a controlling stake acquisition by RIL in Just Dial, Tree Line Asia Master Fund (Singapore) Ptd Ltd offloaded 8.85 lakh equity shares at Rs 1,041.15 per share on the NSE, and 9.01 lakh equity shares at Rs 1,025.06 per share on the BSE in the bulk deals. Plutus Wealth Management LLP lapped up 9 lakh equity shares at Rs 1,022.13 per share on the BSE.