Market Bizzz

‘For traders looking for fresh trades, a decent support level for Nifty could be around 17500. We have been maintaining this stance throughout the week. If the index dips back to those levels, it could be a good point to consider fresh buying. As for Bank Nifty, a support level could be around 41800-41850 for traders looking to build up long positions.’

Affordable Robotic and Automation shares have given multibagger returns to investors in the last six months, rising over 100%. As of March 2023, Vijay Kedia and his firm Kedia Securities hold a combined stake of 13.30%, up from 12.25% in September 2022.

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HCL Tech has reported a consolidated net profit of Rs 3,983 crore for the quarter ended March. This is an increase of 11% from Rs 3,593 crore clocked in the corresponding period of last year.

There were low FPI flows last year and so far, they have shown little interest. In the last fortnight we saw some FPI flows coming into debt, right now between Fully Accessible Route (FAR) and other limits, the utilisation is roughly ₹1.50 lakh crore.

The Reserve Bank of India’s Monetary Policy Committee (MPC) is likely to hold interest rates steady in its June policy review with a unanimous vote to maintain the status quo, given that the cumulative rate hikes since last May appear sufficient to tackle inflation. However, there are two caveats: Truant monsoons should not stoke inflation in farm-gate prices, and crude oil should not rally. Additionally, analysts have suggested that the unchanged stance reflects the panel’s flexible approach towards rates, should inflation unexpectedly accelerate.