The market is stuck in a narrow range due to a lack of major triggers. There is some action seen in the broader market with niche sector-specific momentum. Analysts expect momentum in pharma, specialty chemicals, sugar, rice, and realty to continue over the next few days
The dark clouds of weak Q4 numbers are haunting the domestic market. Tepid cues from the global peers are also creating havoc. The biggest risk for the market is a downgrade in the corporate earnings forecast. HCL Technologies, Vedanta, Mastek, Zomato among stocks to watch on Thursday
HCL Tech will announce Q4 results today. Emkay Global expects profit for this IT firm to rise 9.2% YoY to Rs 3,923 crore compared with Rs 3,594 crore in the year-ago quarter. Revenue is seen climbing 18.8% YoY to Rs 26,853 crore from Rs 22,597 crore YoY
Online food delivery giant, Zomato on Wednesday clarified the shutting down of several Blinkit stores. The reason behind the unavailability of the instant groceries app would be the changes in the delivery partner payout across the Blinkit business. Blinkit services were shut down for a few days
Domestic air passenger traffic climbed by 21.4% YoY in March 2023, according to data released by DGCA. IndiGo, the country's largest carrier in terms of market share, strengthened its hold during the month. The airline's market share in March increased to 56.8%, as against 55.9% in February
The company reported a net income of Rs 708.8 crore during Q4FY23, up by 18.2% YoY from Rs 599.5 crore during Q4FY22, and its revenue from operations stood at Rs 709.2 crore during the quarter ended March 2022, up by 22.0% YoY from Rs 581.5 crore reported in the year-ago quarter. It also declared a whopping dividend of 240%
The Vedanta-Foxconn joint venture for semiconductor manufacturing has finally closed on a technology partner and has access to manufacturing-grade high-volume technology, the senior officials of Vedanta Semiconductor Business told Business Today
“A decisive fall below the 200DMA (17,587) may trigger the panic button. In that case, Nifty might fall down toward the 17,400 level, where the next level of support lies. The momentum indicator is indicating weakness with its bearish crossover on the daily timeframe. Therefore, the near-term trend looks negative, while the short-term set up remains a ‘buy on dips’ until the Nifty falls below 17,400 decisively,” said Rupak De, Senior Technical Analyst at LKP Securities
“The Bank Nifty index continued to trade in a narrow range one day before the weekly expiry. The options data suggest support at 42,000 and resistance at 42,500 where put and call writing respectively is visible. The undertone remains bullish as long as the index holds the support of 42,000 on the downside,” said Kunal Shah, Senior Technical Analyst at LKP Securities
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