A break below 17,300 can take Nifty to 16,900: Analysts
Traders can use the dip to create long positions in Nifty futures around 17,100 levels for targets of 17,600-17,750. One can use 16,900 as a stop loss for this long trade. On the sectoral front, we expect auto, banking, financials, power, and capital goods to outperform, while IT, FMCG, and metals can be the laggards.
Powell’s hawkish stance makes markets jittery
Fund managers and analysts who spoke to ET over the weekend expect the Sensex and Nifty to decline 5-10% by October, depending on the extent of the bounce in the dollar and US 10-year yields-both considered key signals for foreign money flows.
RBI wary of easing capital rules for loans to infra companies
Nudged by infrastructure companies and developers, the lobby of lenders recently approached the central bank to let banks assess the risk of an infrastructure company based on its cash flow and nature of counterparties.
High costs could turn FPIs away from commodity derivatives
Currently, the cost components for executing commodities transactions in India include commodities transaction tax (CTT), exchange transaction charges, Sebi turnover fees, goods & services tax (GST), stamp duty, and brokerage, among others, they pointed out.
NXTDigital-HLF merger to create value for all shareholders: Hinduja
The Hinduja Group has announced a restructuring of a few group entities where listed firm NXTDigital will transfer its digital and communications business to Hinduja Global Solutions and then absorb the unlisted HLF through a merger scheme.