Fri, Oct 4, 2024 10:17 AM
Rajesh Palviya of Axis Securities suggests these three stocks for today
A Flip by Avya Verma
After staying in the green following a sharp rebound the week before this one, the Indian market experienced a 4.77% weekly loss due to selling pressure, with the Nifty index violating key support levels and closing below the 200-DMA. The 50-week MA level of 23,530 is crucial for the market's trajectory, and a breach below it could lead to a prolonged intermediate downtrend.
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While Nifty ended with a weak-on-weak decline of 4.9% on Friday, it was laden with top action where over three dozen companies from large, mid and smallcap segments witnessed prominent block deals worth Rs 5,683 crore on screen, which included both buying and selling action. In the largecap segment, 15 companies witnessed significant block deals on the screen worth Rs 2,477 crore.
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Anil Ambani's flagship firm Reliance Infrastructure Ltd on Friday (December 20) said it has been ordered to pay ₹494 crore, along with interest, following an arbitral award passed on December 18, 2024, in a dispute with Aravali Power Company Private Ltd (APCPL) over an EPC contract. "..it is hereby informed that today the company is in receipt of an arbitral award dated December 18, 2024.
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