Major benchmark indices may open lower taking cues from the global markets. The SGX Nifty, which was trading at 9,987 down by 27 points, is indicating a pessimistic start for the day.
Nifty50 index after resisting around the level of 9,920-9,945, finally managed to close above the level of 9,950 in the previous trading session.
Immediate resistance for the Nifty is placed around levels of 10,000 and next resistance is seen around levels of 10,040. On the downside, support zone for the Nifty is seen around levels of 9,910-9,920.
In the previous trading session, fresh long positions were seen to be taken in the Nifty50 index. Nifty September futures added 10.42 lakh shares or 6.57% in the open interest.
There may be some consolidation at a higher level for Nifty. Closing of the 50-stocks index above the 20-DMA indicates a likely return of short-term momentum to the market and experts expect a positive bias for the Nifty, going ahead.
Majority of Asian stock indices were trading lower on Monday after North Korea tested a nuclear bomb on Sunday. The Japan’s Nikkei 225 plummeted 0.87% and the Hong Kong's Hang Seng has shed 0.55%. The China’s Shanghai Composite has gained 0.24%.
L&T: L&T’s subsidiary has filed an application to form an infrastructure investment trust.
JSW Steel: SEBI has imposed fine of Rs 2.5 lakh for non-redressal of investor grievances in a timely manner.
UFO Moviez: UFO Moviez has acquired 76% stake in Sujav Entertainment for Rs 75 lakh.
Apex Frozen Foods: Apex Frozen Foods is set to make a debut on exchanges on Monday. The issue price is fixed at Rs 175 per share. Its Rs 152 crore initial public offer was oversubscribed 6.14 times, receiving bids for 3.8 crore equity shares against the IPO size of 62.1 lakh shares (excluding anchor investors' portion).
Here are the stocks to watch out for on Monday.
UPL: UPL has acquired 33.33% stake in Brazil based Serra Bonita, who is engaged in producing high-quality seeds.
Great Eastern Shipping: GE Shipping is set to buy a second-hand medium gas carrier which will join the company's fleet in Q2.
AU Small Finance Bank: AU Small Finance Bank has obtained certificate of registration to act as a corporate agent from IRDAI.
Coal India: Coal India’s production in August rose to 37.63 million tonnes while shipments rose to 43.75 million tonnes.
L&T: L&T’s subsidiary has filed an application to form an infrastructure investment trust.
JSW Steel: SEBI has imposed fine of Rs 2.5 lakh for non-redressal of investor grievances in a timely manner.
UFO Moviez: UFO Moviez has acquired 76% stake in Sujav Entertainment for Rs 75 lakh.
Apex Frozen Foods: Apex Frozen Foods is set to make a debut on exchanges on Monday. The issue price is fixed at Rs 175 per share. Its Rs 152 crore initial public offer was oversubscribed 6.14 times, receiving bids for 3.8 crore equity shares against the IPO size of 62.1 lakh shares.
Nifty50 index after resisting around the level of 9,920-9,945, finally managed to close above the level of 9,950 in the previous trading session.
Immediate resistance for the Nifty is placed around levels of 10,000 and next resistance is seen around levels of 10,040. On the downside, support zone for the Nifty is seen around levels of 9,910-9,920.
In the previous trading session, fresh long positions were seen to be taken in the Nifty50 index. Nifty September futures added 10.42 lakh shares or 6.57% in the open interest.
There may be some consolidation at a higher level for Nifty. Closing of the 50-stocks index above the 20-DMA indicates a likely return of short-term momentum to the market and experts expect a positive bias for the Nifty, going ahead.
Majority of Asian stock indices were trading lower on Monday after North Korea tested a nuclear bomb on Sunday. The Japan’s Nikkei 225 plummeted 0.87% and the Hong Kong's Hang Seng has shed 0.55%. The China’s Shanghai Composite has gained 0.24%.
L&T: L&T’s subsidiary has filed an application to form an infrastructure investment trust.
JSW Steel: SEBI has imposed fine of Rs 2.5 lakh for non-redressal of investor grievances in a timely manner.
UFO Moviez: UFO Moviez has acquired 76% stake in Sujav Entertainment for Rs 75 lakh.
Apex Frozen Foods: Apex Frozen Foods is set to make a debut on exchanges on Monday. The issue price is fixed at Rs 175 per share. Its Rs 152 crore initial public offer was oversubscribed 6.14 times, receiving bids for 3.8 crore equity shares against the IPO size of 62.1 lakh shares (excluding anchor investors' portion).
Here are the stocks to watch out for on Monday.
UPL: UPL has acquired 33.33% stake in Brazil based Serra Bonita, who is engaged in producing high-quality seeds.
Great Eastern Shipping: GE Shipping is set to buy a second-hand medium gas carrier which will join the company's fleet in Q2.
AU Small Finance Bank: AU Small Finance Bank has obtained certificate of registration to act as a corporate agent from IRDAI.
Coal India: Coal India’s production in August rose to 37.63 million tonnes while shipments rose to 43.75 million tonnes.
L&T: L&T’s subsidiary has filed an application to form an infrastructure investment trust.
JSW Steel: SEBI has imposed fine of Rs 2.5 lakh for non-redressal of investor grievances in a timely manner.
UFO Moviez: UFO Moviez has acquired 76% stake in Sujav Entertainment for Rs 75 lakh.
Apex Frozen Foods: Apex Frozen Foods is set to make a debut on exchanges on Monday. The issue price is fixed at Rs 175 per share. Its Rs 152 crore initial public offer was oversubscribed 6.14 times, receiving bids for 3.8 crore equity shares against the IPO size of 62.1 lakh shares.
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