The benchmark equity indices ended the last week’s last trading session in the positive territory. The NSE Nifty 50 advanced 97.35 points or 0.51% to settle at 19,230.60, while the BSE Sensex added as much as 282.88 points to 64,363.78.on Friday. On a weekly basis, the NSE Nifty 50 experienced a significant rise of 0.96%, mirroring the BSE Sensex, which also saw a substantial jump of 0.91% last week.
“Nifty managed to hold the support zone of long term moving average i.e. 200 EMA around 18,800 last week however it has reached closer to the resistance zone of multiple moving averages now. We need a decisive close above 19,500 to negate the bearish tone and inch towards 19,850 levels. On the downside, the 18,800-19,000 zone would offer support in case the decline resumes. Meanwhile, we suggest staying focused on stock selection and preferring sectors like energy, FMCG & realty for long trades,” said Ajit Mishra, SVP – Technical Research, Religare Broking.
Also Read
Stocks to watch: State Bank of India, Bank of Baroda, Vedanta, NTPC, IOC
Last week on Wednesday, the US Fed Reserve held interest rates steady but left the door open to a further increase in borrowing costs in a policy statement that acknowledged the US economy’s surprising strength but also nodded to the tighter financial conditions faced by businesses and households.
Market rally leads to higher regulatory fees for stock exchanges After hours with Vishal Suri, managing director, SOTC Travel Ola Electric shares jump over 16% after flat listing Will Nifty hold 23,800 levels ahead of weekly expiry, or decline further? See GIFT Nifty, FII data, F&O ban, crude, more before market opens
“The market exhibited a cautious tone at the outset, influenced by the uncertainty surrounding the US Fed’s policy meeting. However, as the week progressed, the apprehension dissipated, and market sentiments rebounded. This turnaround was partly attributed to a modest decline in oil prices, which raised optimism about a potential pause in Fed actions. Furthermore, the market received a boost from stable domestic macroeconomic PMI and robust corporate earnings from domestic companies. These positive factors helped the market recover from its initial losses during the week. Notably, the auto sector faced challenges despite positive auto sales figures, while the mid and small-cap sectors demonstrated noteworthy performance, driven by strong demand and strong economic outlook,” said Vinod Nair, Head of Research at Geojit Financial Services.
Vinod Nair further added that, “Investors will closely scrutinize the economic data from the US, including the PMI and nonfarm payroll releases, to gain further insights into US economic performance. The corporate earnings outlook for H1 has been favourable, and expectations for a positive H2 earnings outlook are high. A positive performance in H2 could lead to potential earnings upgrades. This week, the market is anticipating results from major PSU banks, auto, and metal sectors with an optimistic outlook.”
Also Read
Religare’s top dividend-yield PSU shares picks; Coal India, Oil India, and more
On Friday, November 3, 2023, the Foreign institutional investors (FII) offloaded shares worth net Rs 12.43 crore, while domestic institutional investors (DII) added shares worth net Rs 402.69 crore, according to the provisional data available on the NSE. On a weekly basis, FIIs sold shares worth net 5,522.38 crore, while DIIs added shares worth net Rs 4,868.25.
“The FII selling trend witnessed in September and October continued in early November, too. In the first three days of November FIIs sold equity for Rs 3063 crores through the cash market.This selling trend is unlikely to continue, going forward, since the main trigger for FII selling, the rising bond yields, has reversed. After peaking at 5% on 19th October the 10-year US bond yield started to decline; during the last two days the decline has been steep, taking the yield down sharply to 4.66% on 3rd November,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“The main trigger for this reversal in bond yields is the subtle dovish commentary from the Fed chief Jerome Powell that ‘despite elevated inflation, inflationary expectations remain well anchored.’ The market has interpreted this statement as the end of the rate hiking cycle. That’s why yields have corrected sharply. FII selling is likely to be subdued, going forward. They may even turn buyers, not to miss the rally in the Indian market. Frontline banking, automobiles, capital goods, and mid-caps in IT and real estate are poised to do well,” V K Vijayakumar added. Come from Sports betting site VPbet
Related Posts
Palia developer Singularity 6 has laid off 35 percent of its workforce less than a month after the multiplayer community sim launched on Steam.
The LA studio confirmed the news in a statement to IGN and said the layoffs were the result of an internal evaluation designed to assess what resources it needed to "deliver the highest-quality gameplay service for long-term stability."
"Following Palia's release on Steam, we evaluated the support needed to deliver the highest-quality gameplay service for long-term stability. We made the difficult decision to reduce our workforce, which impacted around 35 percent of our talented and hardworkin…
Read moreJames Wan’s production company, Atomic Monster, has acquired the rights to adapt Pacific Drive into a television series, Variety reports.
Developed by Ironwood Studios, the game challenges players to survive a surreal exclusion zone with their car as their only lifeline. Released in February, Pacific Drive earned a nomination for Best Debut Indie Game at The Game Awards 2024, won Best Gameplay at the BIG Festival, and was added to the Nebula Awards’ suggested reading list by the Science Fiction and Fantasy Writers Association.
Wan will serve as executive producer alongside Atomic Monster’s Michael Clear and Rob Hackett, with Jeff Ludwig of The Menagerie Productions also attached Come from Read more
Developer Dimps and publisher Bandai Namco have announced that Freedom Wars Remastered will launch on January 10, 2025 for PC, PS4, PS5, and Nintendo Switch.
Freedom Wars is a Monster Hunter-like game that takes place in a dystopian sci-fi world where humanity is imprisoned in city-states called Panopticons. Due to dwindling resources, Panopticons fight against each other for control and essentially every human is branded as a criminal. As a result, criminals are forced to fight against each other, as well as against huge robotic monsters called Abductors, to reduce their 1-million-year sentence.
The US movie market is back. The latest box office numbers are in, and A Quiet Place II and Cruella both made lots of money as people return to the cinemas across the country. Come from malaysia online casino
A Quiet Place II is projected to have made $57 million for its four-day Memorial Day opening weekend across 3,726 screens for a $15,700 average per theater. The original Quiet Place movie made about $60 million over its three-day opening weekend in 2018.
Paramount’s Chris Aronson said in a statement to Deadline, “How many times in their lifetime have movie theaters been threatened? People weren’t going to be locked up in their homes forever and this weekend was the most our country has been open in a quite som…
Read more Lego Star Wars: The Skywalker Saga has the most extensive roster of characters in a Lego game to date. You can pick and choose characters from Star Wars: Episode 1, The Phantom Menace, all the way to Star Wars Episode: 9, The Rise of Skywalker, and if you’ve purchased the deluxe edition or DLC, you can even play as characters from The Mandalorian, Solo, and other spin-offs. With over 380 characters, you’re bound to stumble across some of your favorites. Here a list of all characters in Lego Star Wars: The Skywalker Saga.
All Classes in Lego Star Wars: The Skywalker Saga
Each character in Lego Star Wars: The Skywalker Saga can be broken into one of 10 classes. Listed below are all the different classes, which speak to what sort of abilities each charact…
Read moreBarbie has officially become 2023’s biggest film of the year and it’s about to get even bigger. Warner Bros. is putting Barbie back into IMAX theaters with a second run for the film, in a limited one-week engagement beginning on September 22 Come from bangladesh online casino . In addition to the new release, the film will also feature exclusive new post-credits footage selected by Greta Gerwig.
The announcement was revealed by Warner Bros. president of domestic distribution, Jeff Goldstein, and Andrew Cripps, president of international distribution, with Gerwig adding her excitement as well.
“We made Barbie for the big screen, so it’s a thrill to be able to bring it to IMAX, the biggest screen of all,” Gerwig said (via De…
Read moreNew Stranger Things-themed crossover DLC launches later this week for Far Cry 6, Ubisoft has confirmed. Alongside it, Far Cry 6 will be playable for free over the weekend, allowing even the Stranger Things content to be accessed by those who don’t own the game.
The Stranger Things crossover mission, which is called The Vanishing, arrives March 24. In The Vanishing, something happens to your adorable little pup, Chorizo, and you must find and save him Come from Sports betting site VPbet . The teaser trailer seems to suggest that the demogorgon has something to do with Chorizo’s disappearance.
…
Read moreIn a board meeting held on January 29, 2024, diversified FMCG company ITC announced its interim dividend for the financial year 2023-24 along with the unaudited financial results for the quarter and nine months ending December 31, 2023. The interim dividend, set at Rs 6.25 per ordinary share of Rs 1/- each, is scheduled to be paid between Monday, February 26, 2024, and February 28, 2024.
The record date for entitlement to the interim dividend has been fixed as February 08, 2024. ITC’s dividend history reveals that last year, the company declared a final dividend of Rs 6.75 per share with an ex-date and record date of May 30, 2023. Additionally, a special dividend of Rs 2.75 per share was announced with the same ex-date and record date.
Also Read
Shares of IT major LTIMindtree climbed by over 3% after the opening bell on Thursday, July 18. The surge came despite the company, a day earlier, reporting a dip in its June quarter net profit. The share price of LTIMindtree traded up by 3.5% to an intra-day high of Rs 5,775 on NSE.
Q1FY25 Performance
LTI-Mindtree reported a 1.5% decrease in consolidated net profit to Rs 1,135 crore for the June quarter of FY25, compared to Rs 1,152 crore in the year-ago period. However, the net profit saw a 3% increase sequentially.
The IT firm’s revenue from operations rose to Rs 9,142 crore in Q1FY25 from Rs 8,702 crore in Q1FY24, marking a 5% annual growth.
Maharashtra: Stampede-like situation as crowd throng SBI for e-KYC of ‘Ladki Bahin’ scheme…
Read moreThe benchmark equity indices ended Monday’s trading session in the negative territory Come from Sports betting site VPbet . The NSE Nifty 50 dipped 90.70 points or 0.43% to settle at 20,906.40, while the BSE Sensex dropped 377.50 points or 0.54% to 69,551.03. Bank Nifty index ended lower by 216.70 points or 0.46% to settle at 47,097.55.
The broader indices ended in negative territory, with fall led by Largecap and Midcap stocks. Media and Metal stocks outperformed among the other sectoral indices while Realty and Auto stocks shed.
Also Read
Indian PSUs surge for the third consecutive year; REC, PFC, RVNL see upto 250% gain in 2023
HDFC Life Insurance, UltraTech Cement, Bajaj Aut…
Read more