Paresh Sukthankar resigns as HDFC Bank's deputy managing director
HDFC Bank’s Paresh Sukthankar has resigned from the board of the country’s largest private sector bank. He will vacate the post of deputy managing director.
Sukthankar has been with HDFC Bank since its inception in 1994. Currently, he is overseeing the banks’ credit and risk management departments as well as finance and human resources
Stock Impact
Rupee trading strategy from Motilal Oswal
Nifty sectoral trend
BSE Sensex heatmap
Markets at open
At 9:16 AM, the S&P BSE Sensex was trading at 37,594, down 275 points while the broader Nifty50 was ruling at 11,352, down 77 points.
Top trading ideas by Devang Shah
TCS - BUY
CLOSE – Rs- 1995
TARGET – Rs 2050-2100
TCS closed the weekly in positive territory. Its still trading above 20 DMA. It has wave-V up pending as per weekly chart. Risk Reward is favourable to BUY at current levels. Its daily mometum indicatros are in BUY.One can BUY with a stop loss of Rs-1870 for the target of Rs-2050-2100 levels in short-term.
Click here for more
Benchmark indices ar trading lower on negative global cues and as Rupee hit its record low of 69.53 per dollar
Asian
markets also slipped as a fresh fall in the Turkish lira fueled demand for safe havens.
Japan’s Nikkei lost 0.95 per cent and MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.3 per cent as bourses across the region turned red.
Much of the early action was in currencies with the euro gapping lower as the Turkish lira took another slide to all-time lows around 7.2400 at one stage.
Back home,
inflation data, quarterly earnings and global cues are expected to influence the stock markets’ trajectory in this holiday-shortened week ahead. The stock
markets are closed on Wednesday for Independence Day.
On macro front,
inflation data for the month of July would be announced on Tuesday.Progress of monsoon, currency movement and crude oil prices would also be tracked by market participants.
Meanwhile, industrial output recorded a five-month high growth of 7% in June as production of consumer durables and capital goods picked up pace ahead of the festive season. The data was announced post market hours on Friday.
Stock specific action will continue as Tata Steel, Sun Pharmaceutical Industries, and Oil India among others are scheduled to announce their results this week.
HDFC Bank will also be in focus after Paresh Sukthankar resigned as its Deputy Managing Director on Friday without citing any reasons.
(With inputs from Reuters)
AUTO REFRESH ON