1. Today there is a bit of bounce in Banks but too early to say that they are out of goods. Nifty 50 is at 11460.05. Sensex is at 38862.82. Reliance came out with very strong denial, the company said they cannot confirm but they will inform. However, we would insist that retail investors should be a bit very of a lot of speculation which is going on.
Stocks up 7-8% on that size, the law of gravity somewhere would kick-in. The breadth is looking exceedingly well. Job portal Naukri's parent Info Edge (India) Ltd has got an investment in Zomato. US Tech is slightly unstable but that is not changing the life of Indian Tech. The metal sector has done a broader market out-performance.
Yesterday, the Sensex jumped over 600 PTS; Nifty settled at 11,449 at market closing.
2. Reliance Industries became the first Indian Stock company to hit the market cap $200 BN dollars, The share price got a huge lift following RIL is going to sell 15% stake in their retail business.he 15% stake is going to be valued at ₹63K crore and after JIO it is retail where the series of fund infusion is in the pipeline.
ET Now's Jayesh reports, the top 3 companies first one being Reliance Industries $200 BN dollars is now greater than the combined market capitalisation of the next two large entities which is TCS and HDFC Bank which have market capitalisation just about $200 BN dollars.
4. India and China have agreed on a five-point plan for resolving the prolong border face-off in eastern Ladakh. Times Network's Srinjoy Choudhary reports, 'Incidents have affected the bilateral relationship, you can do the bilateral relationship and continue to have differences. They have to be resolved.
Secondly, the massing of troops is not in accordance with the bilateral pacts of 1993 and 1996. China will have to explain why they have done because if you have an agreement saying you can't move mass troops on the border on the Line of Actual Control.
Though high-level diplomatic and military engagements between the neighbours are being held, the relentless Chinese army continues to provoke the Indian forces near eastern Ladakh while trying to transgress into Indian territory.