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As for the Nifty, going ahead, immediate support is expected around last Thursday’s low of 22,300, which coincides with the 20EMA (20-day exponential moving average), followed by the pivotal support of the bullish gap around 22,200.
The Department of Investment and Public Asset Management raised a total of Rs 80,256 crore as receipts in 2023-24, of which Rs 63,749 crore was from dividends from CPSEs and the remaining Rs 16,507 was from stake sales in state-owned firms.
In the fiscal year 2023-24, the government's dividend collections from non-financial central public sector enterprises and entities with minority stakes reached a record high of ₹63,749 crore, showing a 27.5% increase over the revised estimate. However, disinvestment proceeds fell slightly short of expectations, totaling ₹16,507 crore, mainly due to the IDBI Bank sell-off process spilling over into the current fiscal year. The government achieved divestment through the dilution of minor stakes in 10 entities, primarily via the offer for sale route.
The analysis of BSE500 index suggests that 20 stocks were able to triple investors wealth or better to say delivered up to 200 per cent returns to the investors.
Shriram Finance to replace UPL in Nifty, which could trigger inflows. HDFC Bank, Jio Financial, Adani Power to benefit from rebalancing. PSU pack to see weight adjustments. Nuvama estimates significant inflows and outflows in index reshuffle.