FAST MONEY: Infosys, MMTC among top five intraday trading calls
The US Fed raised its benchmark overnight lending rate a quarter of a percentage point to a range of 1.75 per cent to 2 per cent, as expected, on the back of strong US economic growth.
The Sensex and Nifty are expected to open lower on Thursday after Asian markets edged down as the Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year. At 8:00 am, SGX Nifty was trading at 10,814.50, down 30.50 points or 0.28 per cent.
MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.25 per cent in early trade. South Korea's KOSPI was off 0.9 per cent, while Australia's market slipped 0.2 per cent. Japan's Nikkei shed 0.7 per cent.
The Fed raised its benchmark overnight lending rate a quarter of a percentage point to a range of 1.75 per cent to 2 per cent, as expected, on the back of strong US economic growth.
Here are key intraday trading ideas:
The govt planning to sell a portion of its 89.9% stake in company
MMTC may see a merger with STC ahead of stake sale
Rakesh Jhunjhunwala bought 0.7 per cent stake in company
Jhunjhunwala bought stakes at Rs 92.6 per share
Infosys completes 25 years since its listing
The company is facing pressure for a buyback or bonus shares
The govt owns 90 per cent stake in company
The company may soon see a merger with MMTC
The company is profitable and has no long-term debt on its books
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Mild short-covering in stock in previous session
Cash delivery for more than 50 per cent
(The stock mentioned here are for informational purpose. Consult your financial advisor before investing.)