The Nifty closed with a loss of 51 points (-0.2%) at 24,148 while the broader markets underperformed, with midcap and smallcap indices losing 1.3% and 1.7%, respectively, on Friday. The US Fed cut its benchmark lending rate by 25 bps to 4.5%, in line with expectations and in an attempt to support economic growth, China’s … Read more
“So, the way broader market is participating, sectorial rotation is happening, now the IT is on the front seat for this rally, so the way market is doing the sector rotation that is clearly giving us confidence that ahead of budget maybe we can see further higher level towards 25,000 level also,” says Rajesh Palviya, … Read more
Shares of India’s software services exporters on Friday rallied up to 4% during the day as quarterly results of global peer Accenture had a few positive elements such as strong bookings growth and acceleration in growth rates. Shares of Persistent Systems was the top gainer as it rallied over 4% to day’s high of Rs … Read more
The percentage of small and mid-cap stocks trading below 20-DMA has come down to 57% from 83% last week, indicating attempts to pull back, says Anand James, Chief Market Strategist, Geojit Financial Services. However, the percentage of stocks closing below the 30-day low increased to 9% from 2% last week which is indicating that the … Read more
Following a one-way rally in the first two weeks of December, Nifty is likely to consolidate in the next two weeks, shows historical trends. “Now we are entering the second half of December red hot, and if history repeats, we are likely to see a decline in the rest of December, followed by a consolidation … Read more
Financials and IT – two of the most widely-owned sectors on Dalal Street have shared an inverse relationship over 70% of the time in the last 14 years. An analysis of the performance of Nifty IT and Nifty Bank by global brokerage firm Jefferies shows that since 2010, the two indices tend to generally perform … Read more
Notwithstanding the rupee’s plunge to historic lows against the dollar, IT stock investors have apparently ignored all the worries related to margin compression and demand moderation. IT has been the worst performer so far in 2022 with the Nifty IT index having lost around 31% of its value against Nifty’s 2% loss during the period. … Read more
Nifty had piled up over 1,100-points in the two weeks before this one. There were clear signs of some impending consolidation at that point in time. In line with that analysis carried out, the index spent the past five sessions in a much narrower range as it tried to consolidate at present levels. It oscillated … Read more
35,000 is a support for the Bank Nifty, and possibly next week we could see the Bank Nifty heading towards at least 36000-36500 on the index, said Kunal Bothra, kunalbothra.co.in. Edited excerpts: For most part of the week we were hovering in the green territory. It was only over the last couple of trading sessions … Read more