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SGX Nifty Indicates Higher Opening; Vodafone Idea and Sequent Scientific to Report Results Today

Topic: Financial FreedomPublished June 30, 2021

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At 8:15 am IST, SGX Nifty Futures was trading at 15,826, compared with Nifty’s close of 15,749 yesterday. rnMarket Pulse: Confirmed Uptrend Distribution Day Count: Four Global stock markets: Dow30, +0.03%; S&P 500, +0.03%; Nasdaq, +0.2%; Kospi, +0.4%; Nikkei, -0.1%; Shanghai Composite, +0.1% Yesterday, Nifty opened flat and turned negative in the opening hour itself. It traded in a very narrow range and found support near its 21-DMA. Yesterday’s action was considered a distribution day as the volume was higher compared with the previous session. Overall action in the broader market was also weak. But, there were pockets of strength (midcap IT and power stocks), which made fresh highs. On the sectoral front, Nifty FMCG and Pharma each closed around 50bps higher. On the flip side, Nifty Bank, Metal, and Auto closed 0.9–1.2% lower. The distribution day count is currently elevated to four. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels. Results Today: Sequent Scientific, Spicejet, Vodafone Idea, among others Key News: Housing And Urban Development Corporation posted Q4 FY21 results. It reported a PAT of Rs 526.3 crore compared with a profit of Rs 440.9 crore for Q4 FY20. Revenue was down to Rs 1,759.4 crore from Rs 1,888.5 crore in Q4 FY20. Uflex (Nse) will invest Rs 120 crore to double its aseptic packaging capacity to 7B packs per annum by March 2022. Shriram Epc posted Q4 FY21 results. It reported a loss of Rs 35.8 crore compared with a loss of Rs 91.1 crore for Q4 FY20. Revenue declined to Rs 177.5 crore from Rs 184 crore in Q4 FY20. New High in RS line after 4-year decline To continue reading, Buy Premium Access For more details please visit: SGX Nifty Indicates Higher Opening; Vodafone Idea and Sequent Scientific to Report Results Today Stock Market Research Market Smith India William O’Neil India

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