In the previous week, the Nifty-50/Sensex closed above the crucial resistance of 14800/49000. Image: Reuters
Nifty futures were trading 146.75 points or one per cent higher at 15,006.80 on Singaporean Exchange, suggesting a positive opening for BSE Sensex and Nifty 50 on Monday. On a weekly chart, Nifty/Sensex gained 400/1,200 points from the lowest levels, said an analyst. In the previous week, the Nifty-50/Sensex closed above the crucial resistance of 14800/49000. “Based on it, Nifty/Sensex would climb to a minimum of 15000/15050 levels. However, the market would pick up the momentum, if it crosses 15150 levels. On the downside, 14600 and 14500 would be major supports. The bank-nifty closed below the psychological barrier of 33000 that would keep the financial sector selective,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.
Stocks in focus today
Zydus Wellness, JMC Projects: A total of 22 BSE-listed companies including Artemis Medicare Services, Chambal Fertilisers & Chemicals, Dai-Ichi Karkaria, DE Nora India, Escorts Finance, Ganges Securities, Gayatri Tissue & Papers, Sangam Renewables, Satia Industries, Suryalakshmi Cotton Mills, TTI Enterprise, Venky’s (India) and Zydus Wellness are scheduled to release their January-March quarter earnings on May 10.
Amara Raja Batteries: Amara Raja Batteries said it has resumed operations at its plants at Chittoor district in Andhra Pradesh. The company has resumed operations at its plants at Nunegundlapalli and Karkambadi in Chittoor district with effect from May 8, after High Court of Andhra Pradesh granted an interim suspension.
Bandhan Bank: Bandhan Bank MD & CEO Chandra Shekhar Ghosh is hopeful that the economy will rebound by the third and fourth quarters of the current fiscal, enabling the lender to meet its targets. He said the bank had exercised caution amid the COVID-19 pandemic and made additional provisioning in the last quarter of 2020-21.
RIL: Billionaire Mukesh Ambani’s Reliance Retail Ltd has been ranked second fastest-growing retailer in the world in the 2021 ranking of global retail powerhouses by Deloitte, down from the top rank secured the previous years.
Godrej Properties: Godrej Properties expects its sales booking this fiscal to surpass the last year’s record Rs 6,725 crore despite the outbreak of second wave of COVID-19 and hopes to cross Rs 10,000 crore mark in the next financial year.
ArcelorMittal Nippon Steel: ArcelorMittal Nippon Steel India along with the Odisha government has initiated a feasibility study for its proposed 12 million tonne per annum (MTPA) integrated steel plant in Kendrapara district of the state.
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