As traders await bonus share record date announcement; technical chart shows that Reliance stock has strong support at Rs 2,640 its 20-MMA - a key moving average the stock has held since June 2023.
At 6:33 AM, GIFT Nifty Futures were trading 30 points higher at 25,251, suggesting a higher start for Indian markets.
Reliance Industries stock traded below the 200-DMA in Navratri 2023, and has now once again slipped below the key long-term moving average after almost a year. Check key support levels for RIL here.
RIL share: A total of 13.82 million RIL shares, valued at over Rs 3,000 crore, traded on both the NSE and BSE today
The index heavyweights that pulled the BSE Sensex down in terms of contribution to the index included SBI, Reliance Industries, HCL Tech, ICICI BANK, Larsen & Toubro, and Infosys fell up to 1 per cent
Share market today: Mixed Asian markets, RIL getting PLI approval for full 10 GWh battery making facility, crude oil falling 1% below $74, and Raymond Lifestyle IPO, are among triggers that will be on
Stock market today: Indian equities are expected to open flat; India's Q2 GDP, Dow Jones hitting life high, Baazar Style IPO on radar
The AGM of Mukesh Ambani-owned RIL will begin today at 2 PM IST. Analysts anticipate a range of significant announcements at the 47th RIL AGM
Technical Outlook on RIL ahead of Thursday's AGM: Reliance stock can potentially surge to Rs 3,405 on the upside, suggests chart. Key support for the stock stands at Rs 2,975.
Latest readings of the US Federal Reserve's inflation data, RIL AGM, Q1 GDP data in focus during the week
At 6:31 AM, GIFT Nifty futures were up 197 points, trading at 24,299.5, indicating a robust gap-up opening.
IPO moves and new energy clarity: Key upside risks for the conglomerate
Domestically, foreign institutional investors were net buyers on July 16, acquiring shares worth Rs 1,271.45 crore, whereas domestic institutional investors sold shares worth Rs 529.48 crore.
Within this basket of Modi stocks, the preferred BUYs for CLSA India analysts are ONGC, NTPC, NHPC, SBI, Power Finance, IGL and Mahanagar Gas in the PSU space
As corporate capex picks up, it expects the Indian corporate sector to sustain 12 - 17 per cent earnings growth in the medium-term
In the process, volatility would remain high as expectations related to the General election outcome would have bearing on market direction in the upcoming truncated week
At 6:51 AM, GIFT Nifty futures showed a rise of 26 points, trading at 22,478 levels, signaling a subdued start for the stock exchanges
The benchmark S&P BSE Sensex dropped by as much as 1,132 points to hit an intraday, while the Nifty 50 dropped to 21,932
As of 12:10 pm, the shares were trading 0.23 per cent higher at Rs 2,948.40, as compared to S&P BSE Sensex, which was trading 0.55 per cent higher at 73,487.50 levels
The development will be negative for other players such as Zee, analysts said, who will now have to compete with a much larger entity