DSIJ Mindshare

Formation of higher high-low confirmed by decisive close above the identical highs of the last two trading sessions, which is placed at 11,080 level, would give first indication of respite in the ongoing downward momentum. Stocks in news: Relaxo Footwears, Indian Overseas Bank, PNC Infratech, Corporation Bank, Federal Bank, Reliance Industries, SBI, Tata Power, Bank of Baroda, Adani Power, BEML, Cox & Kings, Jubilant Life Sciences and Punjab & Sind Bank. 

In the early action, SGX Nifty is trading with deep losses, courtesy sharp decline amongst Asian peers and lower closing on the Wall Street on Friday as hopes of trade deal with China faded. At the time of writing, SGX Nifty is trading down by 75 points at the 10,940 mark.

The stocks to watch out on August 5 include INOX, RPP Infra, Birla Corporation, Godrej Agrovet and SBI.

Hindustan Copper Limited has signed a Joint Venture Agreement with National Aluminum Company Ltd. (NALCO) and Mineral Exploration Company Ltd. (MECL) - CPSEs under Ministry of Mines – for constituting a JV company namely Khanij Bidesh India Ltd (KABIL).

The following stocks would be in focus during Monday’s trading session in light of their results announcement, Mangalore Refinery & Petrochemicals, LIC Housing Finance, J.K. Cement, Jammu & Kashmir Bank and Gujarat Mineral Development Corporation.