Domestic fairness benchmarks BSE Sensex and Nifty 50 have been looking at a damaging begin on Wednesday, at some point earlier than weekly F&O expiry. Nifty futures have been buying and selling 87.50 factors or 0.52 per cent up at 17,017.50 on Singaporean Exchange. S&P BSE Sensex tanked 703 factors or 1.23% to shut at 56,463 factors whereas the NSE Nifty 50 index shed 215 factors or 1.25% to settle at 16,958. Analysts say that intensifying conflict between Ukraine and Russia has as soon as dampened the feelings which coupled with rising inflation, bond yield and greenback index, has put buyers on edge. “With Nifty breaking below an important 17000 mark, weakness could continue towards 16600 zones, while hurdle exists at 17150 and 17250 levels. Till the global situation does not stabilize we recommend selective approach in the market,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, stated.
Stocks to look at
Larsen and Toubro Infotech: Larsen and Toubro Infotech (LTI), a subsidiary of development main Larsen & Toubro (L&T), has posted a web revenue of Rs 637.5 crore for the fourth-quarter ended March 31, beating analysts’ estimates.
ACC: Cement producer ACC on Tuesday posted a 29.6% fall in its web revenue to Rs 396.33 crore for the primary quarter ended March 31, impacted by an increase in gasoline prices pushed by the general geopolitical state of affairs.
Reliance Industries Ltd: Reliance Industries has moved the Supreme Court searching for a path to the Securities and Exchange Board of India (Sebi) to provide it entry to sure paperwork that it thinks will exonerate it and its promoters from prison prosecution by the regulator in a case associated to the acquisition of RIL shares between 1994-2000.
The Indian Hotels Company: Foraying into the branded residences house, the Indian Hotels Company (IHCL) on Tuesday introduced the signing of one other Taj resort in Chennai. The new growth underneath a administration contract will function branded residences as a part of the resort advanced.
Glenmark Lifesciences: BSE-listed corporations akin to Angel One, Glenmark Life Sciences, Tata Elxsi, ICICI Securities, JTL Infra, Reliance Industrial Infrastructure, Ellora Trading, HCKK Ventures, Indbank Merchant Banking Services, and Ind Bank Housing will launch quarterly earnings on April 20.
Eveready Industries: The batteries and flashlights maker stated Burman Group has elevated its holding within the firm to twenty.18 per cent via acquisition of shares from the open market. Burman Group entities acquired 78,000 shares that account for 0.11 per cent stake within the firm.
Source: www.financialexpress.com”