On Friday, there is a chance of earning in the shares of Reliance Industries, Tata Chemicals and Mphasis. The country’s most valuable company Reliance has completed the fund raising process for its retail company Reliance Retail Ventures Limited (RRVL). The company has raised Rs 47265 crore by selling 10.09 per cent stake. LIC increased its stake in Tata Chemicals from 5.08 per cent to 7.08 per cent. Mphasis has acquired UK company Datalytyx for £ 13.3 million.
These stocks may stay fast
According to Momentum Indicator MACD, Ester India, Jindal Stainless, Sterlite Technologie, Oberoi Realty, Praj Industries, Shankara Building Pr, GTPL Hathway, PNC Infratech, Munjal Showa Ltd, Trigyn Technologies, Vinati Organics, Godrej Agrovet, Newgen Software Tech, JTEKT India, Jubilant Life Science, Supreme Industries, Mukand Ltd, Endurance Technology, HT Media, Jay Bharat Marut, Hindustan Media Ventures, Bharat Gears, Dhanuka Agritech, Shreyans Industries, Hester Biosciences, Kamdhenu, Insecticides (India), Remsons Industri, KDDL, NBI Industrial Finance and Bannari Amman Sugars are likely to gain momentum.
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These stocks may fall
According to MACD, JSW Steel, NHPC, JSW Energy, Colgate Palmolive, Tribhovandas Bhimji, NCL Industries, PNB Gilts, Man Industries, Radico Khaitan, Celebrity Fashions, KPR Mill, Thangamayil Jewelers, Mahindra Lifespace, Jayant Agro, Vertoz Advertising, MM Forgings, Hindustan Food, Mangalam Timber and P&G Hygiene & Health are expected to fall.
Market condition on thursday
In many countries, as the case of Kovid-19 increased, the process of recording stock markets came to a halt on Thursday and both the Sensex and the Nifty slipped from high levels. Apart from this, due to the weak trend in the global markets, the trend of profit-booking in the shares of financial companies came down. Traders said the fall in the rupee also affected the market sentiment. The 30-share Sensex of BSE came down after moving for some time to a high of 44,230 in volatile trading. The Sensex finally ended with a loss of 580.09 points or 1.31 percent at 43,599.96 points. Similarly, the Nifty of the National Stock Exchange also lost 166.55 points or 1.29 percent to 12,771.70 points. During the day’s trading, the Nifty rose to a high of 12,963 points. This made the Sensex and Nifty a new record in the last three consecutive trading sessions.
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Who shares in loss
Among the Sensex companies, SBI shares fell the most by 4.88 percent. Shares of Axis Bank, ICICI Bank, Ultratech Cement, Bajaj Finance, HDFC Bank and Bharti Airtel were also in losses. On the other hand, shares of Powergrid, ITC, NTPC, Tata Steel and Titan were up 2.43 per cent. BSE Midcap and Smallcap declined by 0.65 percent.
Performance of foreign markets
Other Asian markets were Hong Kong’s HangSeng and South Korea’s Cospi. China’s Shanghai Composite and Japan’s Nikki were in profit. European markets fell heavily in early trade. Meanwhile, global benchmark Brent crude oil futures lost 0.65 percent to $ 44.05 a barrel. In the interbank foreign exchange market, the rupee fell eight paise to 74.27 per dollar.