GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a flat opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded flat at 19,710.5 up merely 0.08%, during Thursday’s early trading session, indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. The benchmark domestic indices ended Wednesday’s trading session in positive territory. The NSE Nifty 50 gained 0.26% to settle at 19,716.45, while the BSE Sensex added over 170 points to 66,118.69.
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“Ahead of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), pharma and healthcare indices gained over one percent while selective banking and financial stocks witnessed some profit booking at higher levels. The Reserve Bank of India will meet on October 4-6 to decide on interest rates and policy stance. Most analysts and economists expect the RBI will continue to maintain a pause on interest rates,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities.
“Nifty on the daily charts has formed bullish reversal formation near 50 day SMA (Simple Moving Average) which indicating strong possibility of fresh uptrend rally from the current levels. For the traders now, 19,630 would act as a key support level. Above which, the market could continue the positive momentum till 19,800 – 19,825. On the flip side, below 19,630 uptrend would be vulnerable,” Shrikant Chouhan added.
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Stocks to Watch on September 28, 2023
Tata Power
Tata Power Renewable Energy (TPREL), a subsidiary of The Tata Power Company, will set up a 41 MW captive solar plant at Thoothukudi, Tamil Nadu for TP Solar Limited (TP Solar) new greenfield 4.3 GW solar cell and module manufacturing facility located at Tirunelveli, Tamil Nadu.
Cyient
Morgan Stanley has upgraded its rating on Cyient to ‘Overweight’ from ‘equal-weight’. Morgan Stanley highlighted the growth in large accounts and new client additions, pricing trends in existing clients, and stable client spending in the engineering services vertical as key growth drivers for the company.
Reliance Industries
Reliance Jio, the telecom unit of Reliance Industries, added net 39.07 lakh wireless subscribers in the month of July 2023, according to the data available on TRAI.
Infosys
The IT giant announced the launch of Infosys Cobalt Airline Cloud (ICAC) a first-of-its-kind industry cloud offering designed for commercial airlines to help them accelerate their digital transformation journey. Infosys has leveraged its deep domain experience and expertise in the travel and hospitality sector to build ICAC, which will aim to deliver personalized experiences, optimized operations, and net zero journeys for clients.
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Bharti Airtel
The telecom company added net 15.17 lakh subscribers in the month of July 2023, according to the recent information available on TRAI.
NBCC India
The company announced the sale of Commercial Built-up space in the World Trade Centre, New Delhi at Nauroji Nagar through e-auction.
Yatra Online
The online travel company is scheduled to make its debut on the bourses today.
(With agency inputs.)
