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Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said, “the steep weakness continued in the market for the second consecutive session on Monday, and Nifty closed the day lower by 311 points. The short-term trend of the Nifty is sharply down, and the weakness is expected to continue for the next 1-2 sessions. The lower support area of 16,800 is expected to offer a base for the market in the short term”.
Bankruptcy pros may get a code and moreTwo people familiar with the matter told ET that the Indian Institute of Insolvency Professionals of ICAI (IIIPI) is making the recommendations, including a standard on ethics, which will need the nod of both the Insolvency a… Read MoreCSB Bank tightens gold loan policy after NPAsThe 100-year-old CSB Bank, which is majority-owned by Canadian billionaire Prem Watsa’s Fairfax group, had announced plans to transform itself into a new-age bank. After a clean-up of loan books and infusion of capital, the b… Read MorePharmEasy gets $300 million booster shot for Thyrocare dealUS private equity major TPG, Singapore’s Temasek, Facebook cofounder Eduardo Saverin’s B Capital, Prosus (previously Naspers) and Think Investments participated in the funding round along with a new investor — Kotak Group’s p… Read MoreDistressed hotels pin hopes on travel revivalBig chains like Tata group’s Taj, Oberoi and ITC Hotels also have their fingers crossed as they had depleted significant reserves to survive the pandemic and need to replenish the same for future shocks. Taj parent Indian Hot… Read MoreBanking & metal can take Nifty beyond 16,000Axis Bank, ICICI Bank, SBI, Bank of Baroda, Tata Steel, Jindal Steel, TCS and Tech Mahindra are likely to outperform in the next one month.
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