Following stocks are close to their 52-weeks low as at 12:54 p.m. on July 22, 2019.

Mukesh Ambani-led Reliance Industries’ subsidiary Reliance Industrial Investments has signed an agreement with BIF IV Jarvis India, an associate of Brookfield Asset Management Inc. for investment by Brookfield of Rs. 25,215 crore in the units proposed to be issued by the Tower Infrastructure Trust.

The markets on July 22, 2019 opened gap down. BSE Sensex is trading at 37,943.91, down by 393.10 points and the Nifty is trading at 11,314.65, down by 104.60 points. 

The company has set a target of reducing gross debt by US$1 billion in FY20. The company had a debt of Rs. 1 trillion as of March 2019.

Market may be giving goosebumps for investors but traders are still active in the market. We analysed the most traded stocks post Union Budget 2019 and their performance in the month of July.

As we were expecting for the past few weeks the gap of May 20 is filled. An important factor is that the Nifty closed below its all-important support levels. Now, the market has reached pre-exit poll levels.

Overall volumes in futures & options currently stand at 1,62,82,041 contracts with a turnover of Rs.11,25,854.80 crore.

Overall volumes in futures & options currently stand at 1,62,82,041 contracts with a turnover of Rs.11,25,854.80 crore.

We believe the next major support area for the Nifty is in the zone of 11,300-11,320. On the upside, any pullback rally towards 11,550-11,570 is likely to be resisted and this area is the likely hurdle going forward. Stocks in news: BHEL, CIPLA, Dr Reddy’s Laboratories, CG Power and Industrial Solutions, Strides Pharma Science, IOL Chemicals and Pharmaceuticals, Reliance Industries, McNally Bharat Engineering.

The outlook for the day is a flat start with a slight negative bias. At the time of writing, the SGX Nifty was trading lower by 31 points at 11,398.