Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 fell on Wednesday as the market returned to trade after a day’s holiday.
Independent technical analyst Manish Shah says the Nifty is showing a bullish ABCD harmonic pattern on the weekly chart, and a bullish butterfly one on the daily timeframe.
“We have already seen the company take so many price hikes in the last 24 months and at some point, its ability to pass on the prices will start to taper off.
Anindya Banerjee, DVP-Currency and Interest Rate Derivatives at Kotak Securities, is of the view that the RBI’s intervention may have been responsible for the USD-INR pair not breaking above 75.85.
Hindalco, UPL, JSW Steel and Titan also among the gainers.
MCX crude has been in an extended uptrend hitting a life-time highs near Rs 8,400, he sayd.
On Tuesday, Maruti Suzuki reported total sales of 1,64,056 units in February, as against 1,64,469 in the corresponding period a year ago.
Rakesh Sharma, ED at Bajaj Auto, tells CNBC-TV18 that retail weakness continued in February.
Earlier on Wednesday, BharatPe accused founder Ashneer Grover and his family of siphoning money away from its accounts.
Vinit Sambre of DSP Investment Managers tells CNBC-TV18 the escalation of the Ukraine crisis will see supply side pressure on commodities.
Nithya Balasubramanian of Sanford Bernstein tells CNBC-TV18 that one can understand the rationale behind the Biocon-Viatris deal.
Deven Choksey of KRChoksey says the current oil prices around the $100 per barrel mark are “not very well”.
And this is not good news as well, because it is likely to result into sharp increase into the inflationary pressure also into the economy,” he adds.