The Indian market was closed on Wednesday, December 25 on account of the Christmas holiday, while on Tuesday, Indian benchmark indices ended marginally lower, as losses in heavyweight financial and IT stocks offset gains in consumer and auto stocks. With the holiday-truncated week lacking major triggers, analysts expect range bound moves for the benchmark indices … Read more
Shares of IDFC First Bank fell over 5% to the day’s low of Rs 81.45 on the NSE in the opening trade on Monday amid selling pressure in banks and financial stocks. Though the stock managed to recover from its intraday lows around 10:30 pm, it was still down by 3%. Brokerage Motilal Oswal downgraded … Read more
Mumbai: India’s leading equity benchmarks soared to fresh highs on Monday, extending their run of gains for the fourth session in a row. Monday’s rally was backed by Reliance Industries, ITC, the HDFC twins and the pack of financial stocks. The ‘risk-on’ rally in global equities took the Sensex above 65,000 and the Nifty past … Read more
“With the China market flattening out and even actually falling, there was a shift in investor attention from North Asia to India. So, this confluence, low valuation, improving macro, better relative position has created that momentum in the market,” says Sanjay Mookim, JPMorgan.How would you start with the current market setup if you have to … Read more
Four financial service companies, including three banks, from the smallcap space have turned multibaggers since last year’s Holi, according to an analysis by The Economic Times. Karnataka Bank was the top gainer among the financial pack, with a rise of over 153%, followed by Ujjivan Financial Services, whose shares have risen 145%. Meanwhile, South Indian … Read more
“Bank Nifty is also holding very decisively at about 42000 which is a very good sign for the bulls and we should see targets of 44000 in a short while,” says Shilpa Rout, Derivatives – Lead Analyst, Prabhudas Lilladher. It looks like the benchmark indices have taken a breather after the furious rally that we … Read more
The Bank Nifty, which has lagged the Nifty and sectoral indices for pharma and IT since March, is attempting to make a comeback. Synopsis Speculative bullish positions in the derivatives segment are building up in both banking and NBFC stocks even as worries remain over the fate of interest payments and recoveries of advances. MUMBAI: … Read more
Obviously with the kind of fund flows Reliance managed to get in the Jio platform, some rally was likely to happen but Rs 2,100 was the target of many analysts, one or two years down the line, says the analyst at asksandipsabharwal.com. What has been your take away on ICICI numbers?ICICI Bank results on a … Read more
We are not positive but neutral when it comes to the construction or infrastructure space, said Fund Manager, MOAMC. Let us take stock of the earnings so far. Post Axis Bank’s moratorium confusion, it seems like the Street has absorbed the earnings well. I cannot comment on individual stocks but if we look at the … Read more