Street signs: Gruh Finance shares, Nifty may consolidate in Sept, and more

The rollback of surcharge hike on FPIs has boosted share prices of a number of Nifty 100 companies

Nifty may consolidate in Sept

The benchmark Nifty50, which slid 1.8 per cent in the August expiry series, may remain range-bound in the coming weeks, with more stock-specific action. Derivatives analysts said rollovers were below three-month average and a majority of the shorts formed in the last series were out of the system. The Nifty has a downside support at 10,800-10,900 levels and can head to 11,500-11,600, if it crosses 11,150-11,200. The data shows that foreign portfolio investors (FPIs) remain bearish. In the past series, FPIs rolled over their short positions in index futures, with their long-short ratio dipping considerably. Global