"Domestic positives should continue to support indices with broader market sustaining momentum. Sectoral rotation would continue with niche and underperforming sectors likely to do well. Tomorrow, market would await Services PMI data from Europe, UK, and India that would be important for the market," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
“Indications are favourable for further rebound as Nifty has surpassed a trend line resistance while holding the support zone of short-term average i.e. 20 EMA. Amid all, we reiterate our view to focus on stock selection and preferring auto, IT and metal for long trades,” said Ajit Mishra, SVP - Technical Research. Oil India, Vishnu Prakash Punglia, Jio Financial Services, De Nora India, Ircon International, Kajaria Ceramics, Adani Ports, Nazara Technologies among stocks to watch on Tuesday.
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State-run Oil India Ltd (OIL) on Monday (September 4) said it has received board approval for its equity investment of up to Rs 1,738 crore in the joint venture company, the North East Gas Distribution Company Ltd (NEGDCL), formed in partnership with Assam Gas Company Ltd (AGCL).
Vishnu Prakash R Punglia, a certified integrated engineering, procurement, and construction (EPC) company, is headed for a strong debut at Dalal Street on Tuesday (September 5), going by grey market premium (GMP) signals on Monday.
Shares of Jio Financial Services maintained their winning run for the fifth straight session on September 4, going past its listing price on both the BSE and NSE. After climbing around 9% to an intra-day high of Rs 266.95 on NSE, shares of the financial services firm closed at Rs 254.65 apiece on NSE.
Shares of De Nora India, India Glycols, Ircon International, Kajaria Ceramics, PTC India Financial Services, Swastika Investmart, Vivanta Industries, Windlas Biotech, Welcast Steels will trade ex-dividend on Tuesday, (September 5).
Nazara Technologies Limited, a diversified gaming and sports media platform, on Monday announced that its board has approved preferential allotment of equity shared to raise up to Rs 100 crore, subject to approval of the shareholders of the company. “The Company is proposing to issue 14,00,560 equity shares of face value of Rs 4 each at a price of Rs 714 per equity share aggregating to Rs 999,999,840 (Issue) proportionately to Kamath Associates and NKSquared,” the company said in a regulatory filing.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Monday announced that flagship port Mundra recorded its highest-ever monthly cargo volume of 15.32 MMT. The port, it said in a regulatory filing, also handled its highest-ever count of 1,776 trains, which includes 1,532 container trains.
Gati Limited, an Allcargo Group company, has partnered with Tech Mahindra to develop Gati Enterprise Management System (GEMS) 2.0. “Gati’s core operational software system, GEMS 2.0, aims to offer an enhanced customer experience and a modern tech-driven interface while increasing efficiency and lowering costs,” the company said.
"Nifty is currently in an attempt of showing upside breakout of the down sloping trend line around 19,500 levels. A decisive move above 19,600 levels is expected to pull Nifty towards the next upside of around 19,800-19,900 levels in the near term. Immediate support is at 19,430 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
“Bank Nifty has also witnessed follow through buying interest from the previous trading session. It has managed to close above the 20- and 40-day moving averages which is a sign of strength. We expect the Index to continue its pullback and towards the daily upper Bollinger band placed around 45,000. The daily momentum indicator has a positive crossover which is a buy signal. Thus, both price and momentum indicators are suggesting that the positive momentum is likely to continue," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
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.