Outlook
Of Nifty/bank nifty today
Nifty Outlook:
The Sensex
closed up 7.10 points at 29933.25, while the Nifty ended up 2.80 points at
9316.85. The market breadth was narrow as 1,481 shares advanced against a
fall of 1,356 shares, while 166 shares were unchanged. Larsen & Toubro,
Adani Ports and IOC were top gainers on both the indices, while Hero
MotoCorp, Lupin and Indiabulls Housing Finance lost the most. Metals space
continued its gain along with information technology (IT) as well as
midcaps. The indices gained 0.77 percent, 0.69 percent and 0.51 percent,
respectively.
Bank Nifty Outlook:
State Bank
of India has invited bids from investment bankers (or book running lead
managers) for its proposed Rs 15,000 crore capital raising plan. The
country’s largest lender received Board approval to raise the amount for
the fiscal year ending March 2018, which may be mopped up through a QIP,
FPO (qualified institutional placement, follow-on public offer) or a rights
issue. If completed, this issue will be the first such sale by SBI since
2008 when it had raised Rs 16,740 crore by selling shares via a rights
sale.
Technical Outlook
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