Reliance Industries, Vodafone Idea, Bharti Airtel, Axis Bank, Future Retail stocks focus on F&O expiration day


The national stock market benchmarks BSE Sensex and Nifty 50 were expected to open on a negative note on Thursday, the weekly F&O expiration day.

The national stock market benchmarks BSE Sensex and Nifty 50 were expected to open on a negative note on Thursday, the weekly F&O expiration day. Shrewd futures were trading at 138 points, or 0.77%, at 17,835 on the Singapore Stock Exchange. In the previous session, S&P BSE Sensex gained 367 points or 0.61% to settle at 60,223 while NSE Nifty 50 added 120 points or 0.67% to close the day at 17,925. “Support and Nifty’s immediate resistance can be 17,600 and 18,200, respectively. While for Bank Nifty, the 37300 and 38200 can act as immediate support and resistance, ”said Mohit Nigam, Head of PMS at Hem Securities.

Actions to watch

Vodafone idea: In a setback to Vodafone Idea, Delhi’s high court suspended an order from the TDSAT telecommunications tribunal that barred the Telecommunications Regulatory Authority of India (Trai) from taking coercive action against the company for not having provided outgoing SMS service on low value tariff plans, thus creating barriers for customers to send SMS porting for mobile number portability (MNP).

Future retail: A day after receiving a setback from a single judge bench at Delhi High Court, Future Retail was granted a stay on Wednesday from the court’s division bench, which stayed the arbitration proceedings initiated by Amazon in a court from Singapore.

Bharti Airtel: Hughes Communications India (HCIPL), a majority owned subsidiary of Hughes Network Systems and Bharti Airtel have formed a joint venture to provide broadband satellite services in India.

Axis Bank: Axis Bank sold 38 lakh shares of Orient Green Power Company at Rs 22.40 per share through a wholesale deal on NSE on Wednesday. Axis Bank also sold 45 lakh shares of the stock on BSE at Rs 22.80 per share.

Reliance Industries Ltd (RIL): Moody’s and S&P Global Ratings rated Baa2 with a stable outlook; and S&P Global Ratings BBB + with a stable outlook for the issuance of US dollar denominated senior unsecured fixed rate notes.

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