Share Market Prediction for 17th July 2023

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New Delhi: Last week, the 30-share BSE Sensex gained 780.45 points or 1.19 percent. On Friday, the Sensex closed at its new all-time high of 66,060.90. It had moved up to its new all-time high of 66,159.79 during the day’s trade. Similarly, the National Stock Exchange’s Nifty (NSE Nifty) also closed at its new all-time high of 19,564.50 points on Friday. It touched a new high of 19,595.35 during the day. On the first day of the new week, Reliance Industries, Suzlon Energy, SBI (State Bank of India), Mahindra and Mahindra, Just Dial and Avenue Supermarts Shares may remain bullish.

Reliance has set July 20 as the record date for the demerger of its financial services company. That’s why heavy demand can be seen in Reliance shares in the next few days. Suzlon Energy has bagged an order from Everrenew Energy to build a 100.8 MW wind power project. SBI has increased MCLR by 5 bps with effect from 15th July. Mahindra & Mahindra has signed an MoU with NXP Semiconductors. Just Dial reported a profit of Rs 83.4 crore in the June quarter as against a loss of Rs 48.4 crore in the same quarter last year. D-Mart Stores co-operating company Avenue Supermarts reported a 2.3 per cent rise in profit at Rs 695.4 crore in the June quarter.

There can be ups and downs in these stocks

According to the momentum indicator MACD, the shares of Subex (Subex), Ashok Leyland (Ashok Leyland), Birlasoft (Birlasoft), Snowman Logistics and MMTC (MMTC) may gain momentum on Monday. On the other hand, Bank of Baroda, NHPC, Rashtriya Chemicals and HPCL shares may decline.

Mukesh Ambani’s Reliance got the most, SBI lost Rs 8,299 crore, see these figures

Results of these companies will come today

HDFC Bank, LTIMindtree, Tata Elxsi, Tinplate Company of India, Central Bank of India, CRISIL, Hathway Cable & Datacom, Huhtamaki India, Onward Technologies, Seacoast Shipping Services and Tarapur Transformers will announce their June quarter results on Monday. This will be the first result of HDFC Bank after the reverse merger. The direction of the stock markets this week will be determined by the quarterly results of the companies, the global trend and the inflow of foreign funds. Investors will also keep an eye on the movement of the rupee and the price of Brent crude oil. Foreign portfolio investors (FPIs) continue to invest in Indian stock markets. In the first fortnight of July, FPIs have invested over Rs 30,600 crore on a net basis in Indian stock markets.

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