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Axis bank The Competition Commission of India has considered the proposed combination and approved the subscription to 14,25,79,161 equity shares of Max Life by the Bank. KEC International The company has secured new orders of Rs. 816 crores across its various businesses Brigade Enterprise Brigade Group signs a Joint Development Agreement for an Office Space in Whitefield, Bengaluru with a Development Value of Rs.340 Crores. Vedanta Vedanta Aluminium Expands Alumina Refining Capacity to 3.5 million tonnes per annum (MTPA)”. Anup Engineering Board fixed 23rd April 2024 as the Record Date for bonus issue Gufic Biosciences The company has incorporated a wholly owned subsidiary, “VEIRA LIFE FZE,” in Dubai for the marketing, distribution, and sale of pharmaceutical products. GE Power The company received orders worth Rs 774.9 crore from Jaiprakash Power. Suryoday Small Finance Bank The company reported disbursements at Rs 2,340 crore, up 39% YoY in the fourth quarter, gross advances at Rs 8,650 crore, up 41% YoY and total deposits at Rs 7,775 crore, up 50% YoY. RBL Bank The company reported total deposits at Rs 1.03 lakh crore, up 22% YoY as of March 31 and gross advances at Rs 85,640 crore, up 5% YoY. Vodafone Idea The board will meet on April 6 to consider share issuance proposals of equity and/or convertible shares on a preferential basis. L&T Finance Holdings The company reported retail loan book at Rs 80,010 crore in the fourth quarter, up 31% YoY and retail disbursements at Rs 15,030 crore, up 33% YoY
Thu. Apr 11th, 2024

Market Analysis

By earn Mar 4, 2024
Market AnalysisMarket Analysis
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Nifty Sees Positive Close Amidst Sectoral Variations

Introduction: The stock market witnessed a dynamic trading session, marked by a gap-up opening and subsequent fluctuations within a narrow range. The Nifty 50 index closed positively with a modest gain of 0.18 percent, while the Nifty Midcap 100 index outperformed, concluding with a notable gain of 0.74 percent. This blog post will delve into the key highlights of the day, focusing on sectoral performances, options market insights, and institutional activities.

Market Overview: After opening with a gap-up, the Nifty traded within the range of 22370-22410, ultimately closing positively. The Nifty Midcap 100 exhibited stronger performance, with a gain of 0.74 percent. Notable variations were observed among sectors, with Media and Metals emerging as top performers, while Banking and Financial Services faced challenges and displayed weaker performance.

Options Market Insights: The options market provides valuable insights into investor sentiment. The highest open interest on the call side is observed at the 22800 level, while on the put side, it stands at 22000. Notably, there is an increase in put writing compared to call writing in today’s option chain, suggesting a positive sentiment. Traders may keep an eye on these levels for potential price movements.

Technical Analysis: The Volume Weighted Average Price (VWAP) indicates a potential trading range for the next day, spanning between 22245 and 22550. Additionally, the Max Pain is identified at the 22250 spot, with the CE/PE Combined Residual Premium/Pain Value standing at 387.72 Crores. Investors may use these technical indicators to assess potential support and resistance levels.

Institutional Activities: In the cash market, Foreign Institutional Investors (FIIs) were net sellers, with a total activity of 81.87 crore. Domestic Institutional Investors (DIIs) also exhibited net selling activity, amounting to 44.71 crore. Understanding institutional movements is crucial for gauging market trends and potential shifts in investor sentiment.

Conclusion: In conclusion, the stock market displayed a mix of positive and challenging elements, with sectoral variations and institutional activities influencing the overall dynamics. Traders and investors should remain vigilant, considering the options market insights and technical indicators discussed, to make informed decisions in the upcoming trading sessions.

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