Market Update Today
Mar 21 2024Stock to Buy Today
🔸 Crompton Greaves
Crompton strengthens its sustainability footprint in the agricultural sector, securing its fourth consecutive order for solar water pumping system from HAREDA, Haryana under PM-KUSUM Scheme
🔸 Uno Minda Limited
The Company has invested a sum of Rs. 6 crores by way of subscription to 60,42,060 Equity shares of Uno Minda Buehler Motor Pvt Ltd allotted today at a face value of Rs. 10/- each on right issue basis
🔸 JSW Infrastructure Limited
The Company has achieved a significant milestone as total cargo handled on consolidated basis has crossed 100 MMT as on date for the first time
Stocks for Intraday trading
🔸 RVNL
The company has emerged as the lowest bidder for a project worth Rs. 167.28 crore of SER HQ-Electrical/South Eastern Railway
🔸 Wipro
The company appointed Anne-Marie Rowland as CEO of Capco effective April 1.
🔸 TVS Motor
The company approved the issue of cumulative non-convertible redeemable preference shares up to Rs 1,900 crore via bonus. It has appointed Vijay Sankar and Shailesh Haribhakt as independent directors, effective March 20 and April 1, respectively
🔸 Kansai Nerolac Paints
The company has opened a sales depot in Kannur, Kerala.
🔸 Cyient
The company`s JV with HAL-Infotech HAL-filed an application initiating the corporate insolvency resolution process before NCLT, Bangalore Bench.
Securities in Ban For Trade Date 21-MAR-2024:
1 BALRAMCHIN
2 BIOCON
3 HINDCOPPER
4 INDUSTOWER
5 PEL
6 RBLBANK
7 TATACHEM
8 ZEEL
Morning Action @ Thursday, March 21st 2024
# Overnight at Wall Street, the Dow Jones, the S&P 500, and the Nasdaq hit record closing for the first time since 2021.
# The positive catalyst: Fed stands pat on interest rates. Most importantly, Chairman Powell sounded very confident about getting consumer level inflation down to 2% "over time”.
# Meanwhile, the Federal Reserve held interest rate steady at a 23-year high of 5.25%-5.5% for the fifth consecutive time.
Gift Nifty is rocketing upward to the moon indicating Nifty will aim to reclaim psychological 22000 mark.
GLOBAL UPDATE:
# GIFT Nifty 🇮🇳: (+175, 22085)
# Dow Future (+72, 39584)
# Nikkei (+750, 40750)
# Hang Seng (+220, 16763)
# Dow Jones (+401, 39512)
# Nasdaq (+203, 16369)
# Bovespa (+1596, 129125).
WHAT EXACTLY HAPPENED AT WALL STREET IN YESTERDAY’S TRADE:
# In Wednesday’s trade, all three US indices settled at a new record close. The Nasdaq Composite rose 1.3% to 16,369, the S&P 500 gained 0.9% to 5,224, and the Dow Jones added 1.0% to 39,512.
# According to the CME FedWatch tool, futures traders are pricing in a 67% chance that the first-rate cut will come in June, up from 56% one day ago.