Indian equity benchmarks hovered between gains and
losses throughout the day and ended flat with negative bias on Tuesday following
losses in metal, banking and financial stocks. Investors are awaiting the
outcome of a key meeting of the RBI’s Monetary Policy Committee due this week.
The Nifty50 has formed a reasonable negative candle
on the daily chart following a similar one in the previous session, suggesting
more of rangebound action ahead with a weak bias, according to Nagaraj Shetti,
Technical Research Analyst at HDFC Securities.
“The pattern indicates lack of strength in the
intraday bounce. This is not a good sign and one may expect further weakness in
the short term,” he said.
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Indian Indices
Broader Indices
The broader indices ended in green
with the BSE mid-cap index up by 0.01% and the Small cap index up by 0.49%. The top gaining sectoral indices on the BSE were Oil & Gas up by
1.24%, Energy up by 0.91%, TECK up by 0.75%, Telecom up by 0.73% and Healthcare
up by 0.69%, while Metal down by 0.83%, Bankex down by 0.78%, Capital Goods
down by 0.71%, Utilities down by 0.59% and Power down by 0.58% were the top
losing indices on BSE.
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India VIX Index
Nifty or India VIX, a gauge of the market’s
expectation of volatility over the near term, fell 1.48% to 21.57 on Tuesday.
SGX Nifty
The trends on SGX Nifty indicate a negative opening
for the index in India with a 118 point loss. The Nifty futures were trading
at 16,920 on the Singaporean Exchange at around 7.20 hours IST.
Support and Resistance levels
The key support level for the Nifty is placed at
16,908, followed by 16,808. If the index moves up, the key resistance levels to
watch out for are 17,142 and 17,276, according to pivot charts.
Also Read | Week in review: Sensex, Nifty fall as inflation fears weigh on investor sentiment
US Markets
The S&P 500 fell 7.75 points, or 0.21%, to 3,647.29.
The Dow Jones Industrial Average fell 125.82
points, or 0.43%, to 29,134.99.
The Nasdaq composite rose 26.58 points, or 0.25%,
to 10,829.50.
The Russell 2000 index of smaller companies rose 6.63
points, or 0.40%, to 1,662.51.
Asian Markets
Asian markets ended mostly higher on Tuesday. The
Hang Seng rose 0.03%, the KOSPI Composite rose 0.13%, the Nikkei 225 rose 0.53%
and the Shanghai Composite rose 1.40%.
European Markets
European markets ended mostly in red on Tuesday.
Germany’s DAX was down by 0.72%, France’s CAC 40 was down by 0.27% and London’s
FTSE was down by 0.52%.
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Major Headlines
LIC acquires over 2% stake in Bharat
Petroleum for around Rs 1,598 crore
LIC has acquired over a 2% stake in state-owned
refiner Bharat Petroleum Corporation Limited (BPCL) for nearly Rs 1,598 crore
since December last year. The state-owned life insurance giant in a regulatory
filing on Tuesday said its shareholding in BPCL has increased from 15,25,08,269
to 19,61,15,164 equity shares, increasing its shareholding from 7.03% to 9.04%
of the paid-up capital of the company. The shares were purchased in the
ordinary course of the transaction through the open market at an average cost
of Rs 336.43 per share.
Reliance Retail launches fashion and
lifestyle departmental store ‘Centro’
India’s largest retailer, Reliance Retail announced
the launch of its fashion and lifestyle departmental store format, Reliance
Centro. Centro will have over 300 Indian and International brands in categories
such as apparel, footwear, cosmetics, lingerie, sportswear, luggage, and
accessories. The first Reliance Centro store was launched on Tuesday in Vasant
Kunj, Delhi. The 75,000 sq ft departmental store has a range of over 20,000
style options for all age groups.
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Dish TV shareholders reject four
resolutions
Shareholders of the broadcast satellite service
provider rejected audited statements for the last two financial years,
appointments of a new auditor, and an independent director. The shareholders
rejected the appointments of Rakesh Mohan as an independent director as well as
SN Dhawan & Co LLP, Chartered Accountants as the auditor of the company.
Dish TV also adjourned its annual general meeting (AGM) without a date, the
company informed exchanges on Monday. It also added that the strength of the
board had come down to two directors, below the minimum required strength of
three.
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Bulk Deal data
SS Corporate Securities Limited sold 2,00,000
shares in Annapurna Swadisht Limited at Rs 120.06 per share on the Nse.
Priyanka Jain bought 18,000 shares in Bodhi Tree
Multimedia Limited at Rs 68.80 per share on the Nse.
LT Finance Limited sold 265,80,972 shares in Dish
TV India Limited at Rs 15.96 per share on the Nse.
UNO Metals Limited sold 160,10,000 shares in Dish
TV India Limited at Rs 15.68 per share on the Nse.
Kotak Performing RE Credit Strategy Fund-1 bought 463,76,811
shares in Embassy Office Parks REIT at Rs 345.00 per share on the Nse.
Mahesh Kumar Singhania sold 1,94,720 shares in Iris
Clothings Limited at Rs 180.00 per share on the Nse.
Sky Wanderers LLP bought 51,200 shares in Ishan
International Limited at Rs 71.44 per share on the Nse.
SK Growth Fund Pvt Limited sold 1,08,000 shares in Medico
Remedies Limited at Rs 119.60 per share on the Nse.
Bofa Securities Europe SA bought 20,99,996 shares
in Ramakrishna Forgings Limited at Rs 178.00 per share on the Nse.
Nippon India Mutual Fund sold 1,70,000 shares in TD
Power Systems Limited at Rs 586.99 per share on the Nse.
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DII and FII data
Foreign institutional investors (FIIs) have sold
shares worth a net Rs 2,823.96 crore, whereas domestic institutional investors
(DIIs) purchased shares worth a net Rs 3,504.76 crore on September 27, as per
provisional data available on the NSE.
NSE F&O Ban
Vodafone Idea and Zee Entertainment Enterprises
have been placed under the F&O ban for September 28. Securities in the ban
period under the F&O segment include companies in which the security has
crossed 95% of the market-wide position limit.
