PNB Reported Good Numbers, Asset Quality Improves; Sun Pharma, PVR, and Dabur to Report Today
After a gap-up opening yesterday, Nifty witnessed selling pressure and traded toward the day's low of 11,557 in the initial hour. However, it found support near its 50-DMA, staged a reversal from ther... After a gap-up opening yesterday, Nifty witnessed selling pressure and traded toward the day's low of 11,557 in the initial hour. However, it found support near its 50-DMA, staged a reversal from there, and moved 100 points off lows to close near 11,700 holding minor gains. Volume was slightly higher compared with the last session. Though heavyweight Reliance (-8.7%) dragged Nifty down, financial heavyweights such as ICICI Bank, Axis Bank, and HDFC helped the market push higher. Nifty is trading 1% and 9% above its 50- and 200-DMA, respectively. On the sectoral front, stocks from the financial space were the leading gainers. Nifty Bank, Nifty Fin Service, Nifty PSU Bank, and Nifty Pvt Bank all closed higher in the range of 3.5–4.5%. On the flip side, Nifty IT, Metal, Pharma, and Auto closed 20–90bps lower. Of 2,213 stocks traded, 643 advanced, 1,126 declined, and the rest remained unchanged. Looking forward, we would like Nifty to reclaim its 21-DMA. We will continue to monitor general conditions and the behaviour of leading stocks, looking for evidence that a real move is commencing. During this time, one should look for stocks with quality fundamentals, RS line trending higher, and breaking out from consolidation areas. Key News PVR, Sun Pharm. Industries, Dabur India, Ajanta Pharma, and Adani Ports and Special Economic Zone will report their Q2 FY21 results today. Kei Industries reported Q2 FY21 results yesterday after market hours. Revenue from operations declined 15.7% y/y to Rs 1,036.9 crore. PAT was down 10.4% to Rs 68.2 crore. Zee Entertainment Ents. reported Q2 FY21 results yesterday after market hours. Total income was down 19.6% y/y to Rs 1,760.6 crore. Net profit dipped 77.3% to Rs 93.4 crore. Punjab National Bank reported Q2 FY21 results yesterday after market hours. NII increased by 24.4% q/q to Rs 8,393.2 crore. Standalone PAT rose 22% y/y to Rs 621 crore. Asset quality improved sequentially. GNPA improved 68bps q/q to 13.43%. O’Neil Market Condition Report For the 24 emerging markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 4%; Rally Attempt, 4%; Uptrend Under Pressure, 76%; Downtrend, 16%. For the 24 developed markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 4%; Rally Attempt, 8%; Uptrend Under Pressure, 50%; Downtrend, 38%. Visit Marketsmith India to Read More About Indian Share Market News, Daily Market Tips, Model Portfolio etc. Source: Free Articles from ArticlesFactory.com Marketsmith India, One stop solution for all your Stock Market needs. Get stock market ideas and stock predictions all at one place. A proprietary tool by William O'Neil India following the CANSLIM method of investing..
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At Three, we believe phones are good. They just make life better. Easier. And more fun. But
we all need to find a balance that works for us. Our mission is to help our customers use
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Since 1992, we’ve been helping customers get the best deal on their dream phone. We firmly believe in giving you the highest quality, for the lowest price. That’s why we work with three of the UK’s leading networks to do all the haggling for you,...
At Halfords, we're all about the journey. With more than 700 stores with over 10,000 colleagues, we're the UK's leading retailer of automotive and cycling products. We are also the leading operator in MOT, tyres, car servicing and car repairs - pleasing more than 750,000 customers every year.
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