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SGX Nifty Indicates Negative Opening; Coal India to Report Results Today

Posted Date: June 14 2021
At 8:00 am IST, SGX Nifty Futures was trading at 15,760, compared with Nifty’s close of 15,799 on Friday.
 
Market Pulse:  Confirmed Uptrend
 
Distribution Day Count: Two
 
Global stock markets: Dow30, +0.04%; S&P 500, +0.2%; Nasdaq, +0.3%; Kospi, +0.1%; Nikkei, +0.5%
 
Last week, Nifty closed higher for the fourth consecutive week, which happened for the first time in 2021. On Friday, it hit a new all-time high of 15,835 and closed around 15,800 for the first time. Sectoral action was mixed during the week. Nifty IT (+4.5%) and Media (+3.5%) were the top gainers, followed by Nifty Pharma (+2.6%). Financial-related sectors declined 0.5–0.7%. Nifty is trading 2.7% and 5.6% above its 21- and 50-DMA, respectively.
 
During the week, Nifty registered a distribution day for the first time since May 11. 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.
 
Key News:
 
Coal India Ifb Industries , Jb Chemicals & Pha. ,  Kajaria Ceramics, and others will report Q4 FY21 results today.
 
Sun Tv Network ’s Q4 FY21 results beat estimates on all fronts. PAT grew 80% y/y to Rs 449.88 crore. Revenue increased to Rs 782 crore from Rs 735.16 crore y/y.
 
Adani Enterprises forays into cement business. It incorporated a wholly-owned subsidiary Adani Cement.

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