- US equity markets ended on negative note, up in range 1.08% to 1.87%
- European equity markets ended on mixed note
- Asian equity markets are trading on a negative note
- GIFT Nifty is up by 46 points (as on 8:20AM), Nifty likely to open at 19360.
The net debt of Reliance Industries Ltd.'s retail arm jumped manifold in fiscal 2023, led by aggressive capital expenditure. Reliance Retail Ventures Ltd.'s net debt jumped to Rs 37,500 crore in FY23 from Rs 1,600 crore a year ago, according to the company filings. The rise was driven by a 70% increase in capex to a staggering Rs 51,400 crore. This forms a third of RIL's overall capex. "FY23 capex alone is 85% of the cumulative capex over the previous seven years," Jefferies Financial Group Inc. said in a research note. The cumulative retail segment capex over the last four fiscals was over Rs 1 lakh crore.
Global Market Update
News highlights from across the globe
Important news updates from the domestic front
Nifty Overview & Outlook
The benchmark Nifty index ended on a negative note, settled below 19400 levels, down 57 points from its previous closing values after highly volatile trading session.
Midcap index outperformed the benchmark as its nearly up by 0.5% while small cap index performed in line with the benchmark.
Majority of the sectoral indices tracked at NSE settled in red. Amongst them, Nifty Healthcare index led the declines, fell nearly 1% followed by PSU Bank, Pharma and Oil & Gas indices that were down over 0.50% each. On the other hand, Nifty IT index witnessed some buying interest, up by 0.61%.
Technically, Nifty index ended on a weak note but formed a indecisive candlestick on a daily chart. Going ahead, cross and sustenance below 19250 levels might take it towards 18800 levels in immediate near term.
Derivatives Overview & Outlook
Yesterday, long unwinding was seen Nifty Future with decrease in open intrest by 1.2%, short covering was seen in Banknifty future and Finnifty future with decrease in open interest by 6.4% and 7.3% respectively.
On the sectoral front, long buildup was seen in Chemical, Infrastructure and Technology stocks whereas short buildup was seen in Banking shares. Initial sign of long unwinding was seen in Capital goods shares.
On options front, Nifty will start the new weekly contract with maximum positions at 19000 PE and 19500 CE.
Institutional Trading Activity
Yesterday, FIIs bought stocks worth Rs 1525 Cr in the cash segment, sold stocks futures and index futures worth Rs. 847 Cr and Rs. 439 Cr respectively. DIIs were net buyer in the cash segment to the tune of Rs 5797 Cr.
Nifty Futures, Banknifty Futures and Finnifty Key Levels
F&O stocks in ban today: BHEL, DELTACORP, GMRINFRA, GNFC, HINDCOPPER, IBULHSGFIN, INDIACEM, MANAPPURAM, METROPOLIS, PNB, RBLBANK
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