Tuesday, August 8, 2023

NIFTY & BANKNIFTY OUTLOOK & VIEW ON UPCOMING RBI CREDIT POLICY

Abbott India Ltd

Bata India Ltd

Berger Paints India Ltd

Bharat Forge Ltd

eClerx Services Ltd

EID Parry (India) Ltd

FDC Ltd

Granules India Ltd

Gujarat Pipavav Port Ltd

Indian Railway Catering & Tourism Corporation Ltd

J B Chemicals & Pharmaceuticals Ltd

Kalyan Jewellers India Ltd

KIOCL Ltd

Max Financial Services Ltd

Natco Pharma Ltd

P I Industries Ltd

Ratnamani Metals & Tubes Ltd

SJVN Ltd

Sunteck Realty Ltd

Tata Power Company Ltd

Trent Ltd

Uno Minda Ltd

Varroc Engineering Ltd

V-Guard Industries Ltd

V-Mart Retail Ltd

Zee Entertainment Enterprises Ltd

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Quarterly and annual earnings reports from the companies Nifty 50 and Bank Nifty play a crucial role in shaping market sentiment. Positive earnings surprises can create bullish sentiment and lead to increased buying activity and a rise in the stock price. Conversely, disappointing earnings results can spark bearish sentiment, leading investors to sell their holdings, leading to price declines. Sensex Today highlights: Benchmark equity indices fell on Tuesday as investors turned wary ahead of key events - RBI and US monetary policy - inflation data - due later this week. Continued capital outflows from abroad and the weak development in the Asian and European markets were also a spoilsport for the domestic markets.The market has traded Positive with the Sensex gaining 0.35% and closed at 65953 and Nifty was up by 0.41% intraday and closed at 19597 levels whereas Bank Nifty was down by 0.09% and settled at 44837. The Nifty index showed volatility but managed to close above the significant moving average of 21EMA and maintained support above 19500 points. A positive trend is expected as long as the index remains above 19500 with resistance at 19700 and potential for a rally towards 20,000.

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