Benchmark indices are trading near key resistance levels and a bout of profit booking may come if the government decides to restructure LTCG tax.
The robust market breadth indicated broader market participation with all the sectoral indices ending the week in the positive territory.
Nifty50 came under pressure and was trading around its crucial support level of 8,600 weighed down by losses in realty, power, consumer durable stocks.
Experts say the protectionist trade policies of the Trump administration are unlikely to have any direct impact on India and foreign institutional investors.
The merger may help Vodafone India improve positioning in mass-market. The combined entity would command a 43 per cent revenue market share.
For the nine months ended December 31, the consolidated profit after tax stood at Rs 7,972 crore compared with Rs 6,730 crore in the corresponding period last year.
The defence capex has been under pressure due to varied reasons, but the govt has stepped up local manufacturing under the ‘Make in India’ campaign.
The highest Put base is placed at the strike price 8,400 with 37 lakh contracts while the highest Call base is placed at the strike price 9,000 with 36.39 lakh shares.
Put writing was seen at strike prices 8,400 (4.3 lakh contracts added), 8,500 (7.7 lakh contracts added), and 8,600 (4.3 lakh contracts added).
Nifty50 recouped most morning losses and was trading above its crucial level of 8,600, supported by gains in power, oil & gas, capital goods, and bank stocks.
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