Kotak Mahindra Bank, Tata Steel, Adani Power, Tata Steel, Dabur, TVS Motor stocks in focus on F&O expiry
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Update time : 2022-05-05 17:57:34
BSE Sensex and Nifty 50 were staring at a gap-up start on Thursday, a day of weekly F&O expiry. Nifty futures were ruling 156.50 points or 0.94 per cent up at 16845.50 on Singaporean Exchange. In the previous session, benchmark indices tanked over 2 per cent after Reserve Bank of India (RBI) hiked repo rate, CRR. BSE Sensex was down 1,306.96 points or 2.29% at 55,669.03, and the NSE Nifty 50 was down 391.50 points or 2.29% at 16,677.60. The Reserve Bank has created a stir in the Indian markets by suddenly increasing interest rates. “The market closed below the crucial level of 16800 on the back of a negative result, which would push the market further down to 16400/16200 in the near term. On the upside, 16800/16900 would act as the biggest hurdle. Reducing weak long positions is advisable near the 16800 levels and contra buying is recommended only around 16200 and below,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, said.
