The SGX Nifty suggests that the Sensex and Nifty will start the day with good news. The US stock market did well on Friday, with the Dow Jones, S&P 500, and Nasdaq all gaining over 1%. Analysts predict that the Nifty could reach 17,800 based on chart patterns.
However, if the market faces a downturn, the Nifty is expected to receive support at 17,250, and the immediate resistance level for the Nifty is 17,383.
Today, some important stocks to pay attention to are Tata Motors, Maruti, Shriram Properties, RVNL, and some others. Tata Motors’ stock is especially interesting because the company’s sales have increased by 1.7% compared to the previous year, selling almost 91,000 units.
Maruti Suzuki, a car company, had very good sales in the last year, selling 19.66 lakh units. They sold 1.7 lakh units in March this year, which is a little bit less than the same time last year. People are interested in their shares because of their high sales.
Today, people will pay attention to Shriram Properties because Aurum, a real estate company from Navi Mumbai, bought a significant part of it. They bought 2.4 crore equity shares (14.2% of the company) for an average price of Rs 55.05 per share. The seller was a PE firm called WSI WSQI V (XXXII) Mauritius.
Also, RVNL (Rail Vikas Nigam Ltd) received many orders, including one for building a 6-lane elevated Kona Expressway in West Bengal, which is worth Rs 720 crore.