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Volatility will rise on the monthly expiry day. Riding against the trend may not be beneficial for short-term traders, say experts.
In an interview to ET, CEO Vinita Gupta said the company had already exited a few products filed from its Somerset facility in New Jersey and has identified 15-20 more products to exit. “We need to look at whether we can sell through the inventory, we need to make sure that we don’t really have the residual burn of the idle (capacity) cost on the company.”
Coal India, BPCL, IndiGo, Apollo Hospitals, Torrent Pharma, Max Health, NHPC, PFC, Bata, Whirlpool, Fortis, AIA Engineering, Nalco and SJVN are among the companies which will announce their March quarter earnings today.
Oil prices rose in early trade on Wednesday, boosted by tight supplies and the prospect of rising demand from the upcoming start of the U.S. summer driving season. Brent crude futures for July rose 46 cents, or 0.4%, to $114.02 a barrel by 0020 GMT. U.S. West Texas Intermediate (WTI) crude futures for July delivery was up 58 cents, or 0.5%, to $110.35 a barrel.
Broader indices underperformed the benchmarks, with the BSE midcap index falling 0.85 percent and smallcap index sliding 1.1 percent
Oil prices eased in early trade on Tuesday as concerns over a possible recession and weaker consumption outweighed an expectation of tight global supply and a pick-up in fuel demand in China after Beijing’s promises of stimulus.
Adani Ports, Grasim, Info Edge, Minda Industries, Phoenix Mills, Ipca Labs, Bayer Cropscience, Bank of India, KIOCL, Shree Renuka Sugars, Metropolis and Aster DM are among the companies which will announce their March quarter earnings today.
The Dow Jones Industrial Average rose 618.34 points, or 1.98%, to 31,880.24, the S&P 500 gained 72.39 points, or 1.86%, to 3,973.75 and the Nasdaq Composite added 180.66 points, or 1.59%, to 11,535.28.
At close, the Sensex was down 37.78 points or 0.07% at 54,288.61, while the Nifty settled 51.50 points or 0.32% lower at 16,214.70.
ITC has been a marked outperformer amid weak market sentiment in the week gone by. It continued its bullish momentum followed by a breakout from a bullish flag formation.