Markets traded under pressure and lost over a per cent in the previous session amid feeble global cues. “Nifty has closed below the crucial support of short-term moving average i.e. 20 EMA after five months but respected the trend line around the 19,420 zone. We feel it is prudent to reduce aggressive longs and wait for clarity. Traders should keep a close watch on the US markets for cues,” said Ajit Mishra, SVP - Technical Research, Religare Broking Ltd
Markets could remain subdued given the gloomy global environment. Stock-specific action is likely to continue in the market with the ongoing result season. Sun Pharma, Bharti Airtel, Titan Company, Adani Wilmar, IndiGo, among stocks to watch on Thursday
Adani Wilmar on Wednesday posted a loss of Rs 78.92 crore for Q1FY24 as against a profit of Rs 193.59 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 12,928.08 crore, down 12.2% as against Rs 14,724.09 crore during Q1FY23. The company EBITDA stood at Rs 130 crore, down 71% YoY
Realty firm Godrej Properties on Wednesday said its board has approved Rs 155 crore for repair work in its completed housing project ‘Godrej Summit’ at Gurugram, in Haryana after chloride was found in concrete used in the buildings. Godrej Properties also announced an offer to buy back flats or provide rentals to all the unit holders of the project
Titan Company on Wednesday reported a 4% YoY drop in consolidated net profit at Rs 756 crore compared with Rs 790 crore in the corresponding quarter last year. This is even as consolidated sales for the quarter grew 21% YoY to Rs 11,070 crore compared with Rs 9,131 crore in the year-ago quarter
InterGlobe Aviation (IndiGo) on Wednesday said its quarterly profit after tax hit a record high of Rs 3,090.60 crore in the June quarter compared with a loss of Rs 1,064.30 crore in the corresponding quarter last year. Total income for the quarter came in at Rs 17,160.90 crore, which was the highest ever, the airline said, adding that its results reflect strong operational performance, execution of strategy and favourable market conditions
Bharti Airtel, Sun Pharmaceutical, Varun Beverages, Dabur India, Zomato, Tube Investments of India, Cummins India, Lupin, MRF, Deepak Nitrite, Kansai Nerolac Paints, LIC Housing Finance, Radico Khaitan, KEC International, Blue Star, Akzo Nobel, Mahanagar Gas, Cera Sanitaryware, Zydus Wellness, JM Financial, Minda Corporation, ICRA, Automotive Axles, Texmaco Rail, Steelcast, and more
ADF Foods, Aegis Logistics, Alembic, Avanti Feeds, Bata India, Coforge, Emkay Global, ESAB India, Granules India, Greaves Cotton, Honeywell Automation, Maruti Suzuki, Ramco Cements, Shreyans Industries, Star Housing Finance, United Breweries, UPL, Usha Martin, XPRO India among stocks that will trade ex-dividend on Thursday (August 3)
"The short-term trend of Nifty has turned down and one may expect more weakness in the coming days. The next crucial lower supports to be watched around 19,200-19,100 levels in the coming week. Any pullback rally up to 19,600-19,650 could be a ‘sell-on-rise’ opportunity," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“Bank Nifty has witnessed a sharp decline and it has decisively closed below the 20-day moving average (45,400) which is a sign of weakness. With the daily momentum indicator also having a negative crossover which is a sell signal, thus, both the price and momentum indicator is suggesting a further correction. On the way down, 44,000 is the short-term target with a reversal placed at 45,800," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
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