2022-03-02 06:31:17
WEDNESDAY
02-MAR-2022
Ukraine crisis continues-Bears on the ride-Break below 16500 is further downside
NEGATIVE MARKET
Today’s Market Prediction:
Indian stock market Would open Gap down NEGATIVE
Technically, Nifty is still in the Negative zone whereas BankNifty is still in the Positive zone
Nifty index formed a bullish candle on the daily charts.
India VIX up by 6.84% at 28.57
Oil jumps 3% on choked Russian supply as trade finance dries up
Ukraine war may delay LIC IPO to next FY, likely reassessment of March listing this week
Centre's fiscal deficit rose to 58.9% of FY22 target in April 2021-January 2022
Investments through P-notes decline to Rs 87,989 crore in January
GDP growth slowed to 5.4% in Oct-Dec 2021, FY22 growth estimated at 8.9%
Route Mobile: Its subsidiary Routesms Solutions FZE (RSL FZE) has successfully completed the acquisition of MR Messaging FZE, based in teh United Arab Emirates.
Vedant Fashions: Ethnic wear brand Manyavar operator clocked healthy 24.1 percent year-on-year growth in consolidated profit at Rs 127.8 crore on strong sales and operating income in the quarter ended December 2021.
Stocks in NEWS
DB Realty: The Supreme Court has allowed the real estate company to develop land in Mumbai. The decision makes freehold 22,000 square meters in commercial zone in Mumbai available to its subsidiary Esteem Properties for development.
Panacea Biotec: The company will sell the pharmaceutical formulations brands of its subsidiary to Mankind Pharma. The total value of the transaction is Rs 1,872 crore. The company and its material subsidiary Panacea Biotec Pharma (PBPL) have entered into definitive agreements for the transaction.
Huhtamaki India: The packaging solutions firm posted a loss of Rs 13.52 crore for the December 2021 quarter against a profit of Rs 5.08 crore in the corresponding period of the last fiscal. But the topline grew nearly 19 percent year-on-year to Rs 661.6 crore in Q4CY21.
Vipul Organics: The specialty chemicals company has recommended bonus equity shares for its shareholders and employee stock options scheme for its employees in the 50th year of its operations. The company will issue one bonus share for every four shares held by shareholders and also issue 2 lakh options to eligible employees.
Lemon Tree Hotels: The company has signed a license agreement for 41 room hotel at Mukteshwar, Uttarakhand. The hotel is expected to be operational in July 2022. The hotel is owned by The Alpine Chalet Resort. Its subsidiary Carnation Hotels and the hotel management arm will be operating and marketing this hotel.
Steel Exchange India: France-based financial services company Societe Generale acquired 5.3 lakh equity shares or 0.6 percent stake in the company via open market transactions at an average price of Rs 214.48 per share.
Nuvoco Vistas Corporation: An institutional broker BofA Securities Europe SA sold 30,62,024 equity shares or 0.85 percent stake in the company via open market transactions. These shares were sold at an average price of Rs 303 per share.
Market Indication:
Global: NEGATIVE
NIFTY: NEGATIVE
BANKNIFTY: NEGATIVE
BULK Deals: Nil
Stocks In F&O Ban Period: Nil
Results Today: Nil
SGX NIFTY: (Negative)
16506 -202.50 -1.21%
FII-DII: FIIs were net sellers of Rs.3948.47 crores whereas DIIs were net buyers of Rs.4142.82 crores in cash market for last trading session.
NIFTY (16793) The support for the Nifty is: 16495-16196-16000 and the resistance to the up move is at: 16954-17115-17250 levels.
BANKNIFTY (36205): The support for BankNifty is: 35788-35371-34980 and the resistance to the up move is at 36446-36687-37000 levels.
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