Zee Business Stock, Trading Guide: Indian markets snapped a two-day winning streak ahead of the US Fed’s Federal Open Market Committee (FOMC) result. The BSE Sensex fell 263 points or 0.44 percent to 59,457 and Nifty50 fell 98 points or 0.55 percent to 17,718 at the close.
Barring FMCG and media, most sectoral indices traded in tandem with the benchmarks and ended down around 1 percent. Financials saw selling pressure, with IndusInd Bank being the top loser, down 3%. While Britannia, HUL, ITC, Apollo Hospitals gain in a volatile trading session.
Markets will first react to the outcome of the Fed meeting in early trade on Thursday, and the scheduled weekly expiration would add to volatility, said Ajit Mishra, Vice President, Research, Religare Broking.
Amidst all, the indications are for further consolidation, so we suggest traders to stay light and focus more on the risk management side, Mishra said. “On the index front, 17,400-17,500 zone would act as a cushion to Nifty, while bounce towards 17,900-18,000 zone may attract selling pressure.”
Here is a list of things to consider on September 22, 2022
Key support and resistance levels for Nifty50:
The Nifty50 closed 0.55 percent lower at 17,718.35. Key pivot points (Fibonacci) support for the index is placed at 17673, 17631 and 17565, while resistance is at 17807, 17848 and 17915.
Key support and resistance levels for Nifty Bank:
The Nifty Bank closed 0.64 percent lower at 41,203.45. Key pivot points (Fibonacci) support for the index is placed at 40964, 40819 and 40585, while resistance is at 41432, 41576 and 41810.
Gross open interest:
Open interest means the number of open or pending futures contracts on NSE at one time. A seller and a buyer together create a contract.
Here, the gross values of the open interest positions taken by the four participants, i.e. Clients are Clients are Retail Individual Investors who invest in Derivatives, DIIs are Domestic Individual Investors, FIIs are Institutional Investors foreigners and professionals are the owners and brokerage firms that trade. in own name
Image source – Stockedge
Stocks in the news:
Wipro fires 300 employees found ‘in the moonlight’. Rishad Premji says 300 Wipro employees were found working for competitors.
Triveni Engg says it disinvested the entire 21.85% equity in Triveni Turbine. 11.85% acquired by national and global marquee investors and 10% acquired by the promoter through an assignment between promoters.
Can Fin Homes relieved Girish Kousgi as Managing Director and CEO on 20 October 2022. Kousgi had resigned as Managing Director and CEO of Can Fin Homes on 19 September.
SBI raises Rs. 4 billion Basel III compliant Tier 2 bonds at a coupon rate of 7.57%. The issue has been oversubscribed about 5 times compared to the base size of Rs 2,000 crore.
Kirloskar Oil: La-Gajjar Machineries has become a 100% subsidiary of the company.
The Companies Registry grants Future Ent an extension for a period of 3 months to hold the #AGM before 31 December 2022.
KPI Green wins a new order of 5.40 MW (comprising 5.40 MW wind turbine and 4 MWdc solar) in wind-solar hybrid power project within the captive power producer segment.
Spandana Sphoorty will issue NCDs of up to Rs 25 crore privately with a green shoe option of up to Rs 25 crore.
Star Housing Finance: The Board meets on September 26 to consider the increase in the authorized share capital of the company and the amendment of the capital clause of the MoA.
IDBI Bank completes sale of entire stake in Ageas Federal Life Insurance Company.
Adani Transmission is committed to reducing its absolute scope 1 and scope 2 GHG emissions by 72.7% by 2032.
Ashoka Buildcon receives letter of acceptance from South Western Railway for a project worth Rs 258.12 crore.
Heritage Foods’ board will consider raising funds through a rights issue on September 30, 2022.
Shenu Agarwal, President of Kubota Agri & Construction Business resigns.
The DGCA continues to keep SpiceJet under enhanced surveillance.
Corporate Action:
Bajaj Holdings & Investment: 1100 percent interim dividend at Rs 110 per share
Elcid Investments: Final dividend of 150 per cent at Rs 15 per share
Polyplex Corporation: 210 percent final dividend at Rs 21 per share
FII activity on Wednesday:
Foreign portfolio investors (FPIs) remained net sellers for Rs 461.04 crore in Indian markets, while domestic institutional investors (DIIs) were net buyers for Rs 538.53 crore, provisional data from the NSE.
FII Index and F&O Securities:
Image source – Stockedge
Bulk Offers:
Airo Lam Limited: Tarak V Vora HUF sold 80,000 equity shares of the company at a weighted average price of Rs 80,000 per share on the NSE, bulk offers data showed.
Dodla Dairy Limited: Bharat Biotech International Ltd bought 20,26,434 shares of the company at a weighted average price of Rs 525 per share on the NSE, bulk bid data showed.
Hind Rectifiers Limited: Shah Sanjiv Dhireshbhai bought 1,03,269 shares of the company at a weighted average price of Rs 226.89 per share on the NSE, bulk bid data showed.
Triveni Turbine Limited: SBI Mutual Fund bought 75,45,788 shares of the company at a weighted average price of Rs 226.7 per share on the NSE, bulk offers data showed.
Shares under F&O ban on NSE
Delta Corp, Escorts, RBL Bank, Ambuja Cements, Can Fin Homes and PVR are subject to the F&O ban for Thursday. F&O segment blackout period securities include companies where the value has exceeded 95 percent of the market-wide position limit.
