MarketsmithIndia Articles

SGX Nifty has Higher Opening; NMDC and Bharat Electronics to Report Results Today

Posted Date: June 22 2021
At 8:15 am IST, SGX Nifty Futures was trading at 15,864, compared with Nifty’s close of 15,747 yesterday.
 
Market Pulse: Confirmed Uptrend
 
Distribution Day Count: Three
 

Global stock markets: Dow30, +1.8%; S&P 500, +1.4%; Nasdaq, +0.8%; Kospi, +0.7%; Nikkei, +3%; Shanghai Composite, +0.8%

Yesterday, Nifty gapped lower by over 150 points. However, it gradually recovered from the low and turned positive in the second half. The broader market also staged an upside reversal after opening lower. On the sectoral front, Nifty Bank recovered more than 900 points from its low and closed 0.9% higher. Nifty PSU Bank (+4.1%) and Realty (+2.3%) were the top gainers. On the flip side, Nifty IT and Auto closed in the red.

The distribution day count currently stands at three. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Read our new article on World Test Championship and O'Neil Methodology: Game of Leaders

Results Today: NmdcAster Dm HealthcareBharat Electronics, among others

Key News:

Kpit Technologies Limited signed a definitive agreement to acquire a controlling stake in PathPartner Technology.

Vst Tillers Tractors posted Q4 FY21 results. It reported PAT of Rs 12.93 crore as against a loss of Rs 3.38 crore for Q4 FY20. Revenue advanced to Rs 194.5 crore from Rs 119.8 crore in Q4 FY20.

Dish Tv India received the Board’s approval to raise funds up to Rs 1,000 crore through a rights issue

What do you think? Please email us any questions or comments.

Disclaimer: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.For more information, see our Legal disclosures here.

Related Article

Loading...