GIFT Nifty is suggesting a positive start for the Indian markets. US markets have ended in the green with gains of around 0.6 to 0.8 percent.

The rally continues in Hang Seng. Over the weekend, China had cut the stamp duty on stocks, so it spurred a rally in Asian markets, particularly Hang Seng and Shanghai.

This morning, the strength continues in markets like Hang Seng.

Yesterday, in the second half of the trading session, as Reliance Industries stock price came under pressure, markets gave up from the day's high and finally ended closer to 19,300, a gain of about 0.2 percent.

The resistance level for a market has emerged to the 50 day moving average aroun d the 19,380 mark, that was also around the intra-day high yesterday.

On the way down, 19,200 19,250 has emerged as a support level. On Friday, the Intraday low was 19,229, on Monday, the intra-day low was 19,250. Over the last 10 sessions, Nify has taken support between 19,200 and 19,300 five times. So, in this consolidation band, the 19,250 level has emerged as an important support level,

Today is also the weekly Fin Nifty expiry, tomorrow is the first quarter GDP print, Thursday is the August series expiry and Friday the August auto sales numbers will be out.

In terms of flows, the domestic institutional investors (DIIs) net bought Rs 1,264 crore in cash on Monday, while foreign institutional investors (FIIs) net sold Rs 1,393 crore in the cash market.

The stocks that should be on your radar include Gokuldas Exports because the company has entered an agreement to acquire an apparel manufacturer,

lots of stock should be on a radar go exports because the company has gone ahead and entered into an agreement to acquire an apparel manufacturer Atraco Group for $55 million. The latter has a very strong market position in US and Europe. The product range includes shorts, pants, shirts, t-shirts, dresses, blouses, etc. The company will be funding this via debt and internal accrual. So the Street is quite excited with the prospect.

NBCC and SJVN have won orders. For SJVN it is a letter of acceptance, for NBCC it is a Rs 66 crore order win.

For APL Apollo Tubes we understand the promoter is likely to sell some stake in the company for approximately Rs 400 crore, which is around 0.85 percent of the equity. The base issue is Rs 300 crore, but there is a green shoe option of Rs 116 crore.

PG Electroplast has also launched a QIP to raise Rs 500 crore. The implied dilution is around 14 percent.

Zomato witnessed a big block deal yesterday. Tiger Global has sold 1.4 percent of its stake in it.

Tune in to the Marketbuzz Podcast for more news and cues ahead of today’s session

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