April 28: Will the stock market rise on the third day, these stocks will be watched

Read Time:2 Minute, 33 Second

April 28: Will the stock market rise on the third day, these stocks will be watched

Table of Contents

Bajaj Finserv, Biocon, Tata Communications, will announce their January-March quarterly results.

The stock market saw a bounce on April 27 last day. The BSE Sensex and the NSE Nifty index were strengthened by around 1.15% on the basis of good buying. Earlier on Monday, the market had gained 1%. Metal stocks continue to perform well. The Sensex has risen sharply to 49,000 while the Nifty has reached close to 14,650.

Bulls are showing signs of a comeback in the market for a good fast of two days. But investors should be cautious amid rising cases of corona. Domestic institutional and retail investors are shopping amid selling by foreign investors.

What is happening in foreign markets?

Asia’s markets are showing mixed direction in the morning. There is a boom in Japan, Taiwan markets. At the same time, the market is in red mark in China, Thailand and South Korea.

The S&P 500 and the Dow Jones Industrial Average (DJIA) index closed flat in the US in the last trade.

The SGX Nifty of Singapore is trading at 14,632.00 after a fall of 0.19% at 7:00 am, giving an early signal to the Indian market.

Keep these things in mind in the market as well

Foreign institutional investors (FIIs) sold 1454 crore shares in the market on 27 April. Stocks of 1463 crores purchased by domestic institutional investors (DII).
According to Moneycontrol, there are 14,536.03 and 14,419.07 support levels for the Nifty on April 28, due to which the index may break after going down. Similarly, there are 14,718.73 and 14,784.47 resistance levels, due to which the Nifty can get a jump by reaching the top.
On April 27, Singapore Government’s Sovereign Wealth Fund purchased one crore 60 lakh shares of Hathway Cable at a rate of Rs 22.22 per share in the bulk deal. In another deal, East Bridge Capital Master Fund sold 70 lakh shares of J&K Bank at a rate of Rs 23.7.

These stocks will be watched

Britannia: The company’s profit (YoY) decreased from 372 crores to 360 crores as compared to the fourth quarter of the previous year. On the contrary, revenue increased from 2867 crores to 3130 crores.

TVS Motors: Net profit of the company reached nearly Rs 289 crore in the March quarter compared to the same quarter of the previous year. Revenue has also increased from 3481 crores to 5321 crores.

Bajaj Finance: Net interest income (NII) year on year (YoY) stood at 4659 crores without major changes. Consolidated profit has gone from 948 crores to 1347 crores.

Axis Bank: The bank recorded a net profit of 2677 crores as compared to a loss of 1388 crores in the fourth quarter of the previous year. Net interest income (NII) increased from 6808 crores to 7555 crores.

Announcement of quarterly results:

Bajaj Finserv, Biocon, Bombay Dyeing, GHCL, Hathaway Cable, Tata Communications and UTI Asset Management, etc. will announce their January-March quarterly results.