Scan to Download
The Nifty broke below 20-day moving average at 10,749 and 50-day moving average at 10,685. A close below these two levels can to lead it to test its support at 10,480, Salil Sharma, partner at Kapursharma.com, told BloombergQuint over phone. If the index breaks 10,480, it can fall further to 10,140, he said.
Shares of the Vadodara-based fruit juice maker rebounded from intraday lows and rose as much as 5 percent to Rs 155.05 after it announced March quarter earnings.
Key earnings highlights:
Shares of the Anil Ambani-led company fell as much as 6.4 percent, the most in over four months, to Rs 391.80 as trading volumes jumped.
Trading volume was 1.2 times its 20-day average.
Shares of the Mumbai-based government-owned bank fell as much as 6.89 percent to Rs 50.70 on heavy volumes.
Trading volume was 1.7 times its 20-day average.
Meanwhile, the bank has clarified that it has exposure of Rs 47.18 crore to DS Kulkarni Developers.
Shares of the Gujarat-based trading firm fell as much as 8.25 percent, the most in over a month, to Rs 118.50 on the back of heavy volumes.
Trading volume was nearly two times its 20-day average.
Shares of the Bhubaneswar-based ferro alloy maker fell as much as 3.65 percent, the most in over a week, to Rs 307.50.
Two furnaces at its Therubali plant have been shut following agitations, Indian Metals And Ferro Alloys said in an exchange filing.
Shares of oil marketing companies fell tracking gains in crude prices in international markets. Brent Crude rose 0.5 percent to $76.69 per barrel on top of yesterday's 2 percent upmove.
Shares of Solara Active Pharma Sciences which was demerged from Strides Shasun got listed on exchanges today and started trading at Rs 285.
Trade tensions will impact markets more than actual economies in the short term, Taimur Baig, Chief Economist at DBS Bank told BloombergQuint in an interview.
Key highlights of the conversation:
Shares of the country's second largest IT company rose as much as 1.26 percent to a record high of Rs 1,294 after its subsidiary got a mandate to provide banking solution to Santander in U.K.
Infosys Finacle part of EdgeVerve Systems, a fully owned subsidiary of Infosys and Santander U.K. announced launch of a new inter-bank cash management system for its corporate customers, Infosys said in a press release.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Delhi-based news broadcaster rose as much as 20.56 percent, the most since December 2008, to hit upper circuit at Rs 39.
Market regulator SEBI has ordered Vishvapradhan Commercial to make an open offer for NDTV for indirectly acquiring up to 52 percent via a convertible loan of Rs 350 crore in 2009 ‘sourced’ from a subsidiary of Reliance Industries.
Indian bonds are poised to fall as a surge in global crude oil prices spurs concern that inflation will accelerate.
Oil prices jumped on Tuesday as the U.S. pressed allies to end all imports of Iranian oil by a November deadline and said it didn’t want to offer any extensions. The 10-year bond yield climbed for a third day yesterday, rising 1 basis point to 7.83 percent.
Expectations that the Reserve Bank of India could announce more bond purchases are likely to keep a cap on yields. Data from CCIL showed that state-run banks were net buyers of bonds on Tuesday while foreign banks sold.
Meanwhile, the rupee is seen under pressure as oil, India's biggest import item, surges. The implied opening from forwards suggest the spot rupee will start trading at 68.44, down from 68.25 per dollar on Tuesday.
Overseas, the dollar and treasury yields are holding steady with investors focused on the simmering trade tensions are awaiting more clarity from the White House on its plans.
CLSA on Cement
IIFL on AU Small Finance
Edelweiss on Security Intelligence Services
Axis Capital on Sun TV
Ventura on SAIL
Elara Capital on Tiles Sector
(As reported on June 26)
CARE Ratings
Trade angst hits emerging stocks with $8 trillion in bear market.https://t.co/8K7hi1HwgF pic.twitter.com/xCdnHM0qRk
— BloombergQuint (@BloombergQuint) June 26, 2018
These are key key events coming up this week:
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
