Sensex and Nifty could witness a gap down starting on August 27, 2020, with the SGX Nifty trading flat all through the early hours of trade. The benchmark indices enter the day’s trading session on the again of a 4-day gaining streak. On August 26, in a past due rally the 30-stock Sensex zoomed 230 points to sit down above the 39,000-point mark, while the 50-stock Nifty ended near the 11,550 marks. Analysts say, equity markets are in a bullish section for the short-term but profit booking isn’t being ruled out. Investors will keep an eye fixed at the monthly F&O expiry nowadays.
Stock markets inside the United States of America ended with profits on the preceding trading session. NASDAQ ended 1.73% higher. On August 27 morning, however, Asian markets have been trading with losses. Shanghai Composite turned into down together with Hang Seng. Stock markets in South Korea and Japan too had been within the red.
It was any other day of heavy buying from Foreign Institutional Investors (FII) on Wednesday, flooding domestic equity markets with Rs 1,581 crore. Then again domestic Institutional Investors (DII) had been visible pulling money away as they bought stocks well worth Rs 1,194 crore.
In a bulk deal on Wednesday, Sumitomo Corporation bought 24.56 lakh shares of VA Tech Wabag at Rs 210.49 per share. HSBC Bank Mauritius sold 7.2 lakh shares of Ceat Ltd at Rs 900 per share. Birla Mutual Fund was found promoting Atul Auto shares, Society General offered 22 lakh shares of Equites Holdings, while HDFC Mutual Fund offered 1.57 lakh shares of Ramco structures.
Today Edelweiss financial services, NMDC, ARSS Infrastructure, GMR Infrastructure, Avanti Feeds, among others will announce their quarterly outcomes. The different businesses which include BFL Asset Finvest, BL Kashyap, Chennai Ferrous Industries, Gayatri projects, HCC, ICRA, IDFC, PNC Infratech, will also be posting their quarterly overall performance these days.
“The short-term trend of Nifty continues to be positive. subsequent upside resistance to be watched at 11650 for the next few sessions. Immediate assistance to be watched at 11450. A decisive/sustainable circulate above 11600-11650 should pull Nifty in the direction of the following upside of 11900-12000 within the close to term,” stated Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
