Crucial hour: the main economic news of April 20, 2022

0

Nifty ends above 17,100, Sensex gains 574 pts; automobiles outperform: business news

A pullback rally in global markets lifted sentiment as benchmarks traded higher. Nifty recovered to its 17000 level. Among sectors, the Nifty Auto index outperformed and rallied more than 2%. While technical selling was seen in metals and media stocks.
Technically, after today’s bounce, the Nifty is still trading below its 200-day SMA, which is negative overall. On the daily charts, Nifty has formed a small bullish candle inside the body and on the intraday charts. Nifty is consistently taking support near 17050. In terms of direction, the medium term trend is still down. But a continuation of the pullback rally is not ruled out if the Nifty manages to trade above 17050.

For traders, 17050 would act as a decisive trend level, above which Nifty could rise to 17250-17350. However, below 17050, uptrends would be vulnerable. Below, the chances of reaching the 16950-16900 level would become bright.

India has coal stockpiles for over 30 days: Business news

India has enough coal stocks to meet more than 30 days of demands and there is no need to panic, government sources told ANI.

Sources said that 72.5 million tonnes (mt) of coal stocks are at Coal India Ltd.

no need to panic"India has coal stockpiles for over 30 days, report says

On average, power stations in India have a coal stock of 22 mt and an average of 2.1 mt of coal per day is replaced by power stations. Thus, no shortage of coal will arise in the country, sources said. Power plants in India still have 10 days of stock and the country has more than 30 days of coal stock, the sources added.

Another senior official told ANI that there is no shortage of coal, especially in Maharashtra. The government has ordered the states to review the PPA with the power stations and Maharashtra is already in the process of reviewing it. Energy demand has increased due to the onset of summer and the recovery of the economy. Coal production increased by 20 to 22% in April itself. The Ministry of Railways has also increased the availability of rakes by 20%.

Rakesh Jhunjhunwala sells stake in this PSU metals stock in Q4: Business news

investor rakesh jhunjhunwala sees years of double-digit stock market gains

In the December quarter, Rakesh Jhunjhunwala held a 1.09% or 4,50,00,000 share stake in SAIL. its stake in many companies, while it has increased its stake in some.

union of IT employees files complaint against infosys' non-competition clause |  the news minute

Non-competition clauses in employment contracts offered by major IT company Infosys to its IT and BPO employees are “unlawful”, a Pune-based IT workers’ union has said. The Senate of Emerging Information Technology Employees (NITES) has written to Union Labor Minister Bhupender Yadav asking for his intervention to remove this ‘arbitrary, unethical and unlawful clause from employment contracts’ . He also filed a complaint with the Ministry of Corporate Affairs.

Elon Musk to invest $15 billion of his own money to buy Twitter: Business news

Elon Musk is willing to invest between $10 billion and $15 billion of his own money to take Twitter Inc. private, the New York Post reported on Tuesday, citing two sources familiar with the matter.

elon musk |  latest news, photos and videos |  wired

The billionaire, who is Twitter’s second-largest shareholder with a 9.1% stake, plans to launch a takeover bid in about 10 days and has tapped Morgan Stanley to raise another $10 billion in debt, according to the report, Business News.

Musk, who is also the chief executive of Tesla Inc, may also be willing to borrow against his current stake if needed, a move that could potentially bring in several billion more dollars, the New York Post reported.

Twitter declined to comment. Tesla did not immediately respond to a Reuters request for comment from Musk.

Nifty ends above 17,100, Sensex gains 574 pts; automobiles are outperforming: economic news

A pullback rally in global markets lifted sentiment as benchmarks traded higher. Nifty recovered to its 17000 level. Among sectors, the Nifty Auto index outperformed and rallied more than 2%. While technical selling was seen in metals and media stocks.
Technically, after today’s bounce, the Nifty is still trading below its 200-day SMA, which is negative overall. On the daily charts, Nifty has formed a small bullish candle inside the body and on the intraday charts. Nifty is consistently taking support near 17050. In terms of direction, the medium term trend is still down. But a continuation of the pullback rally is not ruled out if the Nifty manages to trade above 17050.

sensex closes Oct 28, 2021 drops below 60000 astute below 17900 BSE Markets News |  market news – indian tv

For traders, 17050 would act as a decisive trend level, above which Nifty could rise to 17250-17350. However, below 17050, uptrends would be vulnerable. Below, the chances of reaching the 16950-16900 level would become bright.

Share.

Comments are closed.