The indices will look at recouping some of the losses suffered in recent days. While technically, the charts suggest bearish pattern, the global cues could turn the trend temporarily.
It’s been taxing times for investors in recent days with the market giving up around 4.5% in a week alone. And we’re not talking just about issues regarding ‘retrospective tax’ or the minimum alternate tax. The recent earnings have also failed to enthuse the market. Parliament is in session now and the land bill is generating enough attention again. Rahul Gandhi, back from the sabbatical is trying to garner support of farmers by taking on the government heads on regarding land bill especially. Globally, there will be focus on Greece too on whether it can stick to its debt repayment agreements.
The outlook is a positive start. The indices will look at recouping some of the losses suffered in recent days. While technically, the charts suggest bearish pattern, the global cues could turn the trend temporarily. JustDial and UPL showing short build up and a breakdown on charts. Stocks like HCL Tech and Wipro will be closely watched as they announce their numbers today. HCL Tech numbers are slightly lower than street expectations and margins have fallen more than expected. The Dow and Nasdaq gained over 1%. The S&P also ended higher. Asian markets are also in the green with Nikkei and Kospi up less than a percent. Hang Seng has clocked gains over a percent.
Volatility is likely to continue in the near term and that is evident from the VIX jumping over the past two days. Nifty could face stiff resistance near 8,600-8,650 zone while immediate support rests at levels of 8400.
The initial public offer of road toll management company MEP Infrastructure Developers Ltd opens tomorrow and will be on till Thursday. The company hopes to raise Rs. 324 crore by issuing 5.14 crore shares of face value of Rs. 10 each at a price band of Rs. 63-65. The minimum bid lot is 225 equity shares and thereafter in multiples of 225.
Shares of Videocon Industries and BPCL clocked gains in a falling market on Monday as they announced the appraisal of their third well off the Brazilian coast, says a report.
Daiichi Sankyo said it would not be a major shareholder in Sun Pharma although its existing business partnership with the Indian firm would remain. “The board of directors of Daiichi Sankyo Company approved a resolution on April 20, to sell entire or part of its holding of Sun Pharmaceutical shares,” the Japanese firm said in a statement.
Mahindra & Mahindra aims to present a formal offer for Pininfarina in time for the Italian car designer's April 29 shareholder meeting.
Lupin has launched anti-bacterial Zaxine tablets, under a licensing pact with Salix Pharmaceuticals Inc, in the Canadian market.
The outlook is a positive start. The indices will look at recouping some of the losses suffered in recent days. While technically, the charts suggest bearish pattern, the global cues could turn the trend temporarily. JustDial and UPL showing short build up and a breakdown on charts. Stocks like HCL Tech and Wipro will be closely watched as they announce their numbers today. HCL Tech numbers are slightly lower than street expectations and margins have fallen more than expected. The Dow and Nasdaq gained over 1%. The S&P also ended higher. Asian markets are also in the green with Nikkei and Kospi up less than a percent. Hang Seng has clocked gains over a percent.
Volatility is likely to continue in the near term and that is evident from the VIX jumping over the past two days. Nifty could face stiff resistance near 8,600-8,650 zone while immediate support rests at levels of 8400.
The initial public offer of road toll management company MEP Infrastructure Developers Ltd opens tomorrow and will be on till Thursday. The company hopes to raise Rs. 324 crore by issuing 5.14 crore shares of face value of Rs. 10 each at a price band of Rs. 63-65. The minimum bid lot is 225 equity shares and thereafter in multiples of 225.
Shares of Videocon Industries and BPCL clocked gains in a falling market on Monday as they announced the appraisal of their third well off the Brazilian coast, says a report.
Daiichi Sankyo said it would not be a major shareholder in Sun Pharma although its existing business partnership with the Indian firm would remain. “The board of directors of Daiichi Sankyo Company approved a resolution on April 20, to sell entire or part of its holding of Sun Pharmaceutical shares,” the Japanese firm said in a statement.
Mahindra & Mahindra aims to present a formal offer for Pininfarina in time for the Italian car designer's April 29 shareholder meeting.
Lupin has launched anti-bacterial Zaxine tablets, under a licensing pact with Salix Pharmaceuticals Inc, in the Canadian market.
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