Weak commentary by global IT giant Accenture, a rate hike by BOE and hawkish commentary by US Fed Chair led to profit-booking at higher levels that stopped Nifty from making a new high on Friday. Share market experts expect the market to consolidate in the near term, although investors can 'use corrections as buying opportunity’
The domestic market is not expected to experience a significant correction due to favourable domestic economic indicators and correction in international commodities prices to sustain earnings growth on a QoQ basis. Tata Communications, Adani Enterprises, Vedanta, RIL among stocks to watch on Monday
Shares of Tata Communications will trade ex-dividend on Monday. The Tata Group company had announced a final dividend of Rs 21 per equity share
Shares of Taparia tools will trade ex-dividend on Monday, June 26, 2023. The company had announced a final dividend of Rs 77.5 per equity share
Adani Group on Friday said it was not aware of any subpoena being issued to investors by authorities in the US. It also reiterated that its various issuers' groups remain confident that the disclosures issued by the company are full and complete. Multiple Adani stocks took a beating on Friday following Bloomberg's report of US authorities looking into what representations Adani Group made to its American investors after Hindenburg’s report.
The joint venture between Foxconn and Vedanta has been asked to resubmit their proposal for semiconductor manufacturing in India and will be re-evaluated based on their fresh proposal, IT minister Ashwini Vaishnaw said in an interview on Friday. Starting June 1, applicants including the Foxconn-Vedanta JV were expected to re-apply for government incentives under the modified semiconductor scheme
Reliance Jio Infocomm is in talks to raise a loan for about $1.6 billion to fund the purchase of equipment from Nokia Oyj, according to media reports. Banks involved in the discussions with billionaire Mukesh Ambani’s telecoms company reportedly include Citigroup Inc., HSBC Holdings Plc. and JPMorgan Chase & Co
IndusInd Bank shares to be in focus amid reports that promoters The Hinduja Group may get final approval from the RBI to raise its stake in IndusInd Bank to 26% from the existing 16.51% by investing an additional Rs 10,000 crore in the bank
“The Nifty has shown weakness recently, as it has experienced a decline for two consecutive days. The Relative Strength Index (RSI) indicates negative divergence, indicating a weakening bullish momentum. Looking at the support levels, there is visible support at 18,500, and if the index breaks below this level, it could potentially drop towards 18,200. On the other hand, there is resistance at 18,800 on the higher end of the index,” said Rupak De, Senior Technical analyst at LKP Securities
“Bank Nifty index faces resistance at the 44,000 level, where the highest open interest is built up on the call side. On the other hand, support is observed at the 43,500 PE level, where put writers are active. A break on either side of this range is likely to result in a directional move for the index. However, the overall sentiment remains bearish as long as the index stays below the 44,000 level,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities
Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position