Domestic equity markets extended their weakness to the second straight session yesterday amid muted cues from the Asian Markets. BSE Sensex dropped 0.31% to 62,428.54, while Nifty50 declined 0.25% to 18,487.75. According to analysts, the intermediate trend of the market remains positive
The market is looking ahead to the trajectory of US interest rates to get more visibility. Infosys, Reliance Industries, Bajaj Auto, Maruti Suzuki among stocks to watch on Friday
Shares of Infosys will turn ex-dividend on Friday. While announcing its quarterly results, the Infosys board had declared a final dividend of Rs 17.50 per share for FY23
Maruti Suzuki sold a total of 1,78,083 units in May this year, a rise from 1,61,413 units sold in May last year. Total sales comprise 1,45,596 units sold domestically, 5,010 units sold to other original equipment manufacturers (OEMs), and exports of 26,477 units
Reliance Industries Ltd's operating performance is likely to remain resilient over the next two years, as the firm's growing presence in the digital and retail segments will temper softer earnings in the energy business, S&P Global Ratings said on Thursday. The rating agency affirmed its 'BBB+' rating to RIL with a stable outlook
Bajaj Auto on Thursday reported a 29% rise in total sales at 3,55,148 units in May compared to the same month last year. Total two-wheeler sales stood at 3,07,696 units last month as against 2,49,499 units in the year-ago period, up 23%. Domestic two-wheeler sales were higher at 1,94,811 units as compared to 96,102 units in May 2022
Tata Motors reported a 1.62% YoY decline in total sales at 74,973 units in May. Total domestic sales were down 2% at 73,448. Domestic passenger vehicle sales were up 6% at 45,878 units. Sales of passenger electric vehicles, including international business, were at up 66% at 5,805 units
“The overall sentiment in the market is expected to remain negative until the Nifty index manages to surpass the 18,500 level. If the index fails to move back above this level, it could potentially lead to a correction in the market. On the downside, there is support expected around the range of 18,300-18,350. Conversely, resistance can be anticipated at the higher end around 18,650,” said Rupak De, Senior Technical at LKP Securities
“The Bank Nifty index remained under the control of bears as they maintained their grip on the market. Selling pressure was observed from the resistance zone around 44,200, suggesting that sellers were active at that level. If the index sustains below the level of 44,000, it could indicate further downside potential. In such a scenario, the index may witness a decline toward the support zone around 43,500-43,400,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
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