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market outlook: Ahead of Market: 12 things that will decide stock action on Thursday


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NEW DELHI: Nifty saw a choppy trade in intraday session on Wednesday as the headline index closed lower for the fifth consecutive session. The 50-pack index formed a long bearish candle on the daily chart.
Ruchit Jain, Senior Analyst - Technical and Derivatives at Angel Broking said, Nifty has ended around 14,700, which is a crucial point now and a breach of this could then lead to a continuation of price-wise correction towards 14,500. On the flipside, 14,850-14,900 becomes the immediate hurdle now.
“The Indian market remained in negative territory as investors traded cautiously ahead of the US Fed meeting coupled with a resurgence in Covid cases. Adding to that, the rise in international crude prices is also dragging the Indian market. On a consensus basis, an accommodative policy is expected by the Fed, which will help the global market to stabilize, said Vinod Nair, Head of Research at Geojit Financial Services. ....

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Generic Engineering Construction bags construction orders worth Rs 81 cr


Generic Engineering Construction and Projects Ltd on Wednesday said it has bagged construction orders worth Rs 81 crore.
The company has been awarded with new work orders worth Rs 80.80 crore (including GST) for various institutional projects from new reputed clients,Generic Engineering Construction and Projects Ltd said in a regulatory filing.
The work orders include a residential project based in Panvel worth Rs 44.68 crore from Cityopia Ventures Private Ltd, and special project for structural construction of replica of 12 Jyotrilings (Shiv Dham Phase I) at Kangnidar (Mandi), Himachal Pradesh, amounting to Rs 36.12 crore from Himachal Pradesh Tourism Development Corporation Ltd.
With receipt of above, the total current outstanding order book stands at Rs 1,288.58 crore, the company said. ....

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52-week low: Stock market update: 8 stocks hit 52-week lows on NSE


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NEW DELHI: Around 8 stocks fell to touch their 52-week lows on NSE in Monday s session.
Among the stocks that touched their 52-week lows were: HLE Glasscoat, Best Agrolife, Akg Exim, Generic Engineering, Global Education, Ravinder Heights, Sanwaria Consumer and Silly Monks Entertainment.
Domestic benchmark index NSE Nifty was trading 257.00 points down at 14724.75, while the BSE Sensex was trading 971.63 points down at 49918.13.
On the other hand, Hindustan Copper, Ratnamani Metal, Vaibhav Global, Varun Beverages and Aditya Birla Capital stocks hit their fresh 52-week high today.
In the Nifty 50 index, Hindalco Industries, JSW Steel, Tata Steel, ONGC and Adani Ports SEZ were among the top gainers on the NSE. However, M&M, Tech Mahindra, ITC, Dr. Reddy s and Larsen & Toubro were among the top losers. ....

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market outlook: Ahead of Market: 12 things that will decide stock action on Tuesday


US stocks fall as growth stocks slide
US stock indexes fell on Monday as climbing Treasury yields and prospects of rising inflation triggered valuation concerns, hitting shares of high-flying growth companies. Shares of Apple Inc, Microsoft Corp, Facebook Inc, Alphabet Inc, Tesla Inc, Netflix Inc and Amazon.com Inc resumed a fall from the previous week, falling between 0.6% and 2.1% in early trading. The Dow Jones Industrial Average was down 142.78 points, or 0.45%, at 31,351.54, the S&P 500 was down 23.54 points, or 0.60%, at 3,883.17 and the Nasdaq Composite was down 165.59 points, or 1.19%, at 13,708.88.
European shares drop on inflation risk concerns
European shares fell nearly 1% on Monday as hopes of a vaccine-led global economic recovery fuelled a rally in commodities and raised concerns over the risk of higher inflation. The pan-European STOXX 600 index was on course for its worst day this month, led by declines in technology companies and retail stocks. ....

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