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Nifty View:
SGX Nifty indicates a flat opening for Nifty with a slight positive bias. Global Markets are showing Mixed sentiments, so local cues will be driving the Nifty today.
It's important for Nifty to sustain above 17,000 to maintaining the bull momentum. Violation of 17,050 may trigger some profit booking towards 17,000 followed by 16,950.
The Bull side will only be active above 17,150 which can extend up to 17,200 and 17,280 levels.
29 of Nifty 50 stocks had closed in Red yesterday, FIIs were net Buyers 666.6 Cr and DIIs were net sellers of1287.8 Cr.
Nifty had formed a bearish candle on Daily basis, Being Weekly Expiry Day observe the above-mentioned levels to catch the move.
Stocks in News:
Axis Bank: RBI imposes Rs 25 lakh fine on the bank for rule violations.
Indian Railways freight loading in August grows to highest ever level. The Indian Railways surpassed its highest-ever freight loading volumes in a month once again in August, after the national carrier managed to transport 110.55 million tonnes of freight last month.
US manufacturing activity unexpectedly picked up in August amid strong order growth, but a measure of factory employment dropped to a nine-month low, likely as workers remained scarce.
Hero Motocorp: reported 22 percent dip in total sales at 4,53,879 units in August as compared with the same month last year. The company had dispatched 5,84,456 units to its dealerships in August 2020.
Wipro: The IT services major announced the appointment of Mohammed Areff as the Country Head and Managing Director for its Middle East operations.
Eicher Motors: Royal Enfield sales volume declined 9 percent to 50,144 motorcycles in August 2021, against 45,860 motorcycl es in August 2020
Hindustan Zinc: Extended the shutdown of one of the roasters at Chanderiya lead zinc smelter for repair and overhaul of many major structural components to avoid any operational risk in the future. The shutdown will result in loss of production of about 25,000 ton of zinc.
State Bank of India: Raised Rs 4,000 crore via local AT-1 bond issue. SBI raised funds at coupon rate of 7.72%. Bank received over Rs 10,000 crore in bids.
