Trends on SGX Nifty indicate a cautious opening for the broader index in India with a gain of 8 points.
The Indian stock market is expected to open flat as trends on SGX Nifty indicate a cautious opening for the broader index in India with a gain of 8 points.
On March 25, the BSE Sensex fell 233 points to 57,362, while the Nifty50 shed 70 points to 17,153 and formed bearish candle on the daily as well as weekly charts. It corrected 0.8 percent for the week after 6.4 percent rally in previous two straight weeks.
As per the pivot charts, the key support level for the Nifty is placed at 17,055, followed by 16,957. If the index moves up, the key resistance levels to watch out for are 17,273 and 17,393.
PVR, Inox, Wipro, GAIL India, Adani Enterprises, others in news today
1)- Wipro
Wipro: Board approves interim dividend. The board approved an interim dividend of Rs 5 per equity share of par value Rs 2 each for the financial year 2021-22.
2)- GAIL (India):
Company to consider buyback. The state-owned natural gas distribution company on March 31 will consider the proposal of buyback of fully paid-up equity shares.
3)- PVR and INOX
Top multiplex players on March 27 announced merger after the Board of Directors of PVR Limited and INOX Leisure Limited at their respective meetings, approved an all-stock amalgamation of INOX with PVR.
4)- Adani Enterprises:
Subsidiaries win bids for coal blocks in Odisha and MP. Subsidiaries Mahanadi Mines and Minerals Pvt Ltd and MP Natural Resources Pvt Ltd are declared as successful bidders for Bijahan and Gondbahera Ujheni East coal blocks in Odisha and Madhya Pradesh respectively, by the government of India. Revenue sharing with the government will be 14 percent for Bijahan coal block and five percent for Gondbahera Ujheni East coal block.
5)- Zomato
Completed investment in Mukunda Foods. The food delivery giant has completed the investment in Mukunda Foods by way of subscription of 13,289 Series B 1 compulsorily convertible preference shares (CCPS) and 10 equity shares.
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