Morning Market Views:

Indian Markets again gave sharp reversal from the intraday highs in the last session all thanks to some selling in the banking index heavyweights on the higher zones. Nifty managed to hold the previous week lows of 23300 mark but the resistance of 23800 is not breached. The overall trend of the index still seems to be sideways and will turn bullish only above 23800 on the daily charts. On the flip side, if the index slips below 23300 then major sell off may be seen. Banking stocks once again came under pressure in the initial trade in the last session but witnessed some good buying at the lower zones. The private sector banks lead the gains while PSU banks witnessed selling flows. The trend of the index seems to be cautious with support for the index placed around 52800 for the day while 53800 remains stiff resistance. Stocks In News !ITC Hotels: The company has acquired a 100% stake in Zuri Hotels and Resorts, absorbing it as a subsidiary effective today, for an enterprise value of Rs 205 crore. Separately, ITC acquired a 49.3% stake in Mother Sparsh Baby Care for Rs 30 crore. $WIPRO : The IT major has completed the acquisition of a 100% stake in Mindsprint Pte and its related arms, which represents the Olam Group's IT and digital services business. Bharti Airtel: The telecom operator has launched a new 5G service called 'Priority Postpaid', with plans ranging in price from Rs 449 to Rs 1,749. $JSWENERGY : The company will acquire a 10.7% stake in Toshiba JSW Power (TJPS) for a consideration of Rs 150 crore. M&M Financial Services: The NBFC's board has approved the issuance of Non-Convertible Debentures (NCDs) worth Rs 2,200 crore. $INDUSINDBK : The bank clarified that it has received no summons from SEBI regarding an insider trading case, stating that reports of SEBI summoning a former top official and referencing the Company Secretary are unsubstantiated.