Nifty Sensex News: Saudi PIF to invest Rs. 11,367Cr in JIO

Nifty Sensex News June 19th Pre-Market Update: Nifty moves, Stocks to Trade, FnO Action, Share Market Tips and Much More. Saudi PIF to invest Rs. 11,367Cr in JIO, Reliance to acquire stakes in some Future Group Co's, Both FII and DII Return as Net Buyers post 6 days in Equity, Pompeo brands former White House National Security Adviser John Bolton a traitor, Trump says he could pursue complete decoupling from China in response to unspecified conditions, *Fitch ratings revised India ratings to Negative from Stable

International Key Triggers: Nifty50 rose before close in late session to close at 10091.65. Though overnight news flows from US are positive, Nifty is expected to open little lower and trade mixed. Nifty at the close yesterday was pulled down by FinService and metals at close.

SGX Nifty is currently trading at 08:25am today around 10044 is indicating another sluggish-start, today being weekly expiry we need to see the movements of BankNifty closely. Key world indices Futures are also trading in Red DJIA Futures which currently around that 25970 mark while Nikkei225 at 22370 and Hang-Seng at 24350, Moody's downgrades Tata Motors ratings to Ba3 US Jobless claims at 1.5Mn, Cipla expands partnership with Roche Pharma on Oncology Medicines.

Domestic News: *Saudi Arabia Public Investment Fund to invest Rs. 11367Cr to pick up 2.32% stake in JIO Platforms, the 11th Investor to invest in the Telecom Biz and the 4th Largest in Size. FII had been selling in Futures segment over past 3 sessions, 41 Coal Blocks to be coming under auction for commercial mining.

HDFC plans to raise fresh funds, SBI Plans to raise up to 20000Cr in this fiscal. As many as 96 shares ended in Red from Nifty200 while 104 closed in green with Muthoot, BHEL, BajFinSerc, BEL and VBL are top Gainers while IGL, OFFS, ICICIGI, Cummins and NMDC were top losers.

Except Nifty Pharma all other sectoral Indices closed in green with NiftyBank, FinService, Metal, Nifty PSU Bank and Energy gaining over 2%. Muthoot, Coromandel, Reliance, Biocon and Escorts hit fresh 52wk High, Cadila,BajajElec, LICHousing, PNB and RamcoCem reports results today.

FII net Buy of Rs. 366.57Cr while DII bought Rs. 1131.27Cr. VIX moved down by 5.7% to end at 31.46, Long-buildup was witnessed in MuthootFin, BHEL, Manappuram, LTFH and BajFinServ while Cummins, IGL, BataIndia, ApolloHosp and Voltas saw short-Buildup. UPL is seeing rollovers already at 30% followed by VEDL and BHEL and to be watched in FnO space.

Nifty Watch for the day: Nifty which was sluggish till the SC hearing spurted upon breaking the resistance of 9984 to punch a high at 10111.2 and dropped down till 10060 before settling at 10091.95, we mentioned the critical resistance is 10129.

Nifty is likely to open weak around 9750-9780 and expected to continue its swings between 9634-10129 while we may see some wild movements like yesterday in the afternoon sessions today, if Nifty manages to trade above 10129 we may see short-covering to take it around 10176-10225.

As we had mentioned on yesterday Nifty made an upside at opening and fell on news flow to end at 9881.15 with low again at that 9833.8, BankNifty saw a 800point swing and managed to close higher at 20201.75. Nifty Supports are placed at 9882, 9816, 9772 and 9727.

Resistances are at 10082 followed by 10149, 10183 and 10216. Key Stocks to watch are:  BajFin, BajFinServ, DrReddy, Grasim, HDFC, HDFCBank, IndusInd, LT, Muthoot, Reliance and ShreeCem. For more share market tips, ideas, updates and stock recommendations follow our App, Twitter, FB, Telegram and Website.