Targeted actions: Reliance Industries, Bharti Airtel, HDFC Bank, Future Retail, Punjab National Bank

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Nifty’s short-term trend continues to be negative, according to a technical analyst. “The resumption of bearish momentum could signal more weakness in the coming sessions.

Nifty futures traded 95 points or 0.65% higher at 14,770 on the Singapore Stock Exchange, indicating a positive open for BSE Sensex and Nifty 50 on Tuesday. Leading indices have been in a bearish grip for the past four days, with investors taking the risk off the table amid fears of soaring commodity prices, rising bond yields and another peak in Covid cases -19. Nifty’s short-term trend continues to be negative, according to a technical analyst. “The resumption of downward momentum could signal more weakness in the coming sessions. Lower levels to watch around 14350-14300, which could be reached by or next week. Immediate resistance is placed at 14800-14850, ”said Nagaraj Shetti, technical research analyst, HDFC Securities.

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Stocks in brief today:

RIL: Mukesh Ambani’s RIL announced the reorganization of its O2C business into an independent subsidiary by the second quarter of FY22. Reliance Industries Ltd will transfer all refining, marketing and petchem assets to O2C. The stand-alone RIL entity will have all existing segments other than O2C activities.

Bharti Airtel: Telecommunications giant Bharti Airtel said on Monday that it will meet with global fixed income investors on or after February 23, after the company makes a final decision on issuing foreign currency bonds, subject to the terms of the market.

Future Retail Ltd: The Supreme Court on Monday barred the National Company Law Tribunal (NCLT) from taking a final appeal over the Rs 24,713 crore deal between Kishore Biyani and Reliance Retail, even as it allowed the court to go ahead. ‘forward with the merger procedure of the companies of the Future group and the Reliance group of Mukesh Ambani.

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National Bank of Punjab: PNB has started the process of exiting Asset Reconstruction Company (India), also known as Arcil. On Monday, the investment arm of the Punjab National Bank solicited expressions of interest from potential buyers in a public notice.

HDFC Bank: The Securities Appeals Tribunal (SAT) has stayed an order by Sebi that fined HDFC Bank 1 crore for relying on securities promised by stock broker BRH Wealth Kreators, until further notice orders, according to a report from PTI. Sebi imposed the fine and also ordered the bank on Jan.21 to transfer Rs 158.68 crore with 7 percent interest per annum to an escrow account until the issue of settling clients’ securities. be reconciled.

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