November 20, 2023 08:47 AM ISTIndian equity market clocked one percent gains for third consecutive week ended November 17 despite RBI's decision to raise risk weights for unsecured loans impacted banking & financial stocks on Friday. This rally attributed to falling oil prices, and hopes for end to the rate hike cycle globally with declining inflation. Hence, experts expect the positive sentiment in the markets to sustain in the coming week too, with focus on US bond yields & oil prices, and advised continuing with buy on dips strategy. During the truncated week, the BSE Sensex climbed 535 points to 65,795, and the Nifty50 jumped 206 points to 19,732, while the Nifty Midcap 100 and Smallcap 100 indices gained 2 percent and 2.7 percent respectively. Most of sectors participated in the weekly run up, barring banking & financial services stocks. IT & realty were the biggest gainers, with Nifty IT and Nifty Realty each rallying over 5% for the week. Even the mid & smallcap indices ended the week with gains of nearly 3% apiece. This week Nifty bulls will be watching out for a retest of the psychological 20,00o mark. The GIFT Nifty is hinting at a start around 19,800 for the Nifty. Stocks in focus today will be SBI Card, Aurobindo and Exide Industries among others. Catch Nandita Khemka in conversation with Kunal Shah, Senior Research Analyst, Carnelian Capital and Aamar Deo Singh, Sr Vice President – Angel One.
November 15, 2023 08:33 AM IST After moving closer to the key resistance of 19,550 on Muhurat trading day, the Nifty50 caught in to profit booking amid consolidation in the following session, November 13 and fell tad below 50-day EMA (exponential moving average - 19,447). will the index manage to get back decisively above the 19,550 resistance? Experts feel that as long as the index holds 19,300 as a strong support, an upmove towards 19,550-19,600 is possible after current consolidation, which can later pave the way for October high of 19,850. The BSE Sensex fell 326 points to 64,934, while the Nifty50 declined 82 points to 19,444. The broader markets remained positive despite negative breadth. The Nifty Midcap 100 index was up 0.07 percent and Smallcap 100 index rose 0.7 percent. Today the focus will be on MSCI index rejig and the stocks in focus are the likes of IndusInd Bank, Suzlon, Paytm among others. Also watch out for Tata Motors as Tata Tech’s much awaited IPO opens for subscription on November 22. This will be the first IPO from the Tata stable in over 2 decades. Also we will have a new listing today as ASK Auto makes its debut on the exchanges. Catch Nandita Khemka in conversation with Brijesh Ail, Head Technical & Derivatives - Retail Research, IDBI Capital Markets and Securities and Hemant Shah, Fund Manager at Seven islands PMS.
November 13, 2023 08:35 AM IST The Indian equity market kicked off Samvat 2080 on a strong note with the Nifty reclaiming the 19,500 mark and hitting a 3-week high. Experts say if the index sustains above 19,500, there is a high possibility of the index moving towards the October high of 19,850 in coming sessions, with crucial support remaining at 21-day EMA of 19,386. Options data also indicated that 19,500 is expected to be crucial for march towards 19,600-19,800 levels, with support at 19,400 & 19,300 levels. The GIFT Nifty is hinting at a higher start for the Indian market even as US futures are trending lower after Moody’s downgrades its outlook on US credit rating to negative. Among stocks in focus will be Eicher Motors, Coal India, ONGC, BSE post their earnings. Meanwhile, shares of Protean eGov will list on the bourses today. Catch Nandita Khemka in conversation with Ruchit Jain, Lead Research Analyst at 5Paisa.com and Market expert Hemang Jani.
November 08, 2023 08:37 AM IST India equity market took a breather after three-day run up and ended flat with a negative bias, but held above 19,400. Will it indicate rangebound trade or further upmove above 50-day EMA in coming days? The rangebound trade is likely to continue with 19,400 seems to be acting as a crucial role for either side of trend. If the index holds the same, then it will surpass 19,450 (50-day EMA - exponential moving average) followed by hurdle at 19,500-19,600, whereas on the lower side, 19,300 will be immediate support for the Nifty50, experts said. On Tuesday, the BSE Sensex fell 16 points to 64,942, while the Nifty50 declined 5 points to 19,407. The broader markets continued their uptrend for fourth consecutive session, with the Nifty Midcap 100 and Smallcap 100 indices gained 0.3 percent and 0.75 percent respectively, while the market breadth was slightly in favour of bulls. Meanwhile, global cues are upbeat this morning with Wall Street notching another day of gains and Asian markets edging higher in early trade. The GIFT NIFTY is hinting at a muted start for Indian markets. For today the stocks that will make headlines include IRCTC, IndiGo & Voltas. Meanwhile, key earnings to watch out for will be Lupin, BHEL, Pidilite and United Spirits among others. Catch Nandita Khemka in conversation with Kunal Rambhia, Fund Manager, The Streets (Technical) and Deepak Malik from Carnelian Capital.
November 07, 2023 08:37 AM IST Indian equity market extended northward journey for third consecutive session, with the Nifty50 decisively surpassing 19,250-19,300 area and closing above the 19,400 level. All eyes now will be on 50-day EMA (exponential moving average 19,450), which if crossed could lead to 19,550-19,600, experts said. The BSE Sensex rallied 595 points to 64,959, tracking positive Asian cues and amid buying in all key sectors barring PSU Bank, while the Nifty50 jumped 181 points to 19,412. The market breadth also remained in favour of bulls, while the Nifty Midcap 100 and Smallcap 100 indices gained 0.9 percent and 1.4 percent respectively. Meanwhile, global cues are mixed this morning as Wall Street ekes out gains overnight with Nasdaq clocking a 7-day winning streak for the first time since January. But Asian markets are edging lower with the GIFT Nifty hinting at a flat start for our markets. For today the stocks that will make headlines include Bajaj Finance, Nykaa, HPCL, Power Grid & IRCTC. Mamaearth parent Honasa Consumer lists on the exchanges today while ASK Auto IPO kicks off for subscription. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, Vice president- Research (Derivatives And Technicals) At TradeBulls Securities and Karan Taurani, Senior VP, Elara Capital.
November 06, 2023 12:38 PM IST Indian equity market extended uptrend for second consecutive session on November 3, but considering it is at the crucial hurdle of 19,200-19,300 area, which had acted as a strong support area in August before getting into sharp rally in September, and also there is a continuation of tug-of-war between bulls and bears for firm direction, will it be able to extend uptrend from here on? Experts believe it is possible only if the index surpasses and holds 19,300 mark, then 19,500-19,600 can be the next possible resistance area for the index, whereas on the downside, 19,000-18,900 seems to be key support zone. On Friday, the BSE Sensex jumped 283 points to 64,364, while the Nifty50 was up 97 points at 19,231. The broader markets also continued uptrend, with the Nifty Midcap 100 and Smallcap 100 indices rising 0.7 percent and 1.2 percent respectively, on positive breadth. About two shares advanced for every falling share on the NSE. This week earnings will once again take centrestage as Divis Laboratories, Power Grid, Adani Ports, Coal India, Eicher Motors, Hindalco Industries, Mahindra & Mahindra, and ONGC ar4e slated to hand in their quarterly report cards in the last leg of earnings. The primary market will remain in action in the last week of Samvat 2079 with four initial public offerings worth Rs 1,390 crore opening for subscription and nine firms making their debut on the bourses. Cello World is all set to make its debut and it could list at 22-25% premium over its issue price. Other notable mainboard listings include Mamaearth and ESAF Small Finance Bank. For today the stocks that will make headlines include SBI, Bank Of Baroda, PB Fintech, IndiGo among others. Catch Nandita Khemka in conversation with Rajesh Palviya of Axis Securities and Siddhartha Khemka, Head of Retail Research - Broking & Distribution, MOFSL.
November 03, 2023 08:35 AM IST Bulls are back on Dalal Street after easing fears related to FOMC outcome, which turned out to be dovish commentary. Will the bull party continue in the coming sessions? Experts believe that the party may continue, provided the Nifty50 holds 19,100-19,000 levels in coming sessions, which can help the index move to 19,200-19,300 area, the crucial resistance area. If the index manages to climb and sustain above the resistance for a few days, then 19,500-19,600 can be possible areas to watch. Till then, the index may remain in the range of 18,900-19,200 zone. After a two-day correction, the BSE Sensex advanced 490 points to 64,081, while the Nifty50 rose 144 points to 19,133. The market breadth also turned positive, pushing the broader markets higher. About five shares advanced against two falling shares on the NSE. The Nifty Midcap 100 and Smallcap 100 indices rallied more than 1.3 percent each. The volatility also cooled down considerably, making the trend favourable for bulls. The fear index, India VIX fell by 8.07 percent to 11.08 levels. This morning too we may be in for a strong start as Wall Street extended its gains overnight and GIFT Nifty trades above the 19,300 mark. Tata Motors reports strong set of numbers in Q2 backed by robust JLR margins. Other stocks to watch out for include Titan, Zomato & Gujarat Gas. Catch Nandita Khemka in conversation with Raja Venkatraman, Co-founder Neotrader and Trading Influencer and Saji John, Lead Analyst – Automotive, Geojit Financial Services.
November 02, 2023 09:32 AM IST After back-to-back fall in the market, the market sentiment turned in favour of bears and the participants seem continuing with 'sell on rise' opportunity. Hence, if the index fails to hold on to the 18,900, the immediate support, then it can again move towards the low of last week around 18,800, but in case, the index rebounds, then may face crucial hurdle at 19,100-19,300 area, experts said. The BSE Sensex was down 284 points at 63,591, while the Nifty50 declined 90 points to 18,989. The market breadth turned in favour of bears after the equal ratio in previous two sessions, as three shares declined against two rising shares on the NSE, while the broader markets continued to be rangebound, closing flat (with negative bias) for third straight session. Meanwhile, global cues are positive this morning with the Dow climbing more than 200 points, while the S&P 500 and Nasdaq Composite each ending higher by more than 1%. Wednesday’s session was centered around the Fed’s decision to keep interest rates unchanged and the subsequent press conference with Jerome Powell, the central bank’s chair. Powell said he would not rule out a rate increase at the December meeting, leaving market participants unsure of when the hiking cycle would end. Stocks to watch out for include Tata Steel, Tata Motors, Hero Moto & Dabur among others. Catch Nandita Khemka in conversation with Kunal Rambhia, Fund Manager, The Streets and Edward Yardeni, President, Yardeni Research.
November 01, 2023 08:56 AM IST The market corrected sharply after gap-up opening and snapped two-day winning streak on October 31. Given the unsustainability of Nifty50 at the crucial resistance area of around 19,250 due to selling pressure along with negative crossover on the hourly charts, further downtrend can be possible up to 19,000-18,900 levels, but on the higher side, the decisive clearance of 19,250-19,300 area can open the door for 19,500-19,600 levels, experts said. BSE Sensex dropped 238 points to 63,875, while the Nifty50 declined 61 points to 19,080. The broader markets had a mixed trend and the breadth was largely equal for yet another session. The Nifty Midcap 100 index was up 0.4 percent and Smallcap 100 index fell 0.06 percent. Mood may remain cautious ahead of the US Fed rate decision tonight. Stocks to watch out for include L&T, Tata Steel, Sun Pharma and Lupin. Catch Nandita Khemka in conversation with Hemen Kapadia, Senior Vice President, Institutional Equity, KR Choksey Shares & Securities and Nirav R Karkera, Head of research, Fisdom.
October 31, 2023 09:00 AM IST The market extended upward journey for yet another session on October 30, but will that northward move continue in coming sessions? Possibly yes, if the index decisively surpasses its hurdle of 19,250-19,300 area in coming sessions, otherwise the rangebound trade may continue, experts say. The clearing and holding above this resistance of 19,250-19,300 can open doors for 19,500, the 50-day EMA (exponential moving average) given the Nifty50 made higher tops, higher bottoms for yet another session with bullish candlestick pattern on the daily timeframe, but if it fails to sustain above Friday's close i.e. 19,050, then it may take support at 18,900-18,800 area, experts said. The BSE Sensex climbed 330 points to 64,113, while the Nifty50 jumped 94 points to 19,141 and formed bullish candlestick pattern with long lower shadow on the daily charts. The broader markets had a flat closing on the first day of the week, while the volatility index, India VIX rose by 5.36 percent to 11.49 levels which remained in the broad range of 9-13 levels for past several months. This morning the GIFT Nifty is hinting at a flat start for the Indian market even as Wall Street saw a strong rally overnight. In trade today, watch out for stocks like DLF, TVS Motor post Q2 earnings. L&T and Tata Consumer report earnings today. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, VP-Research-Derivatives And Technicals, TradeBulls Securities and Asutosh Mishra of Ashika Stock Broking.
October 27, 2023 08:47 AM IST Bears tighten their grip over Indian market. Sensex shed over 900 points while Nifty ends below 18,900. The short-term trend of Nifty continues to be negative. The handover from wall street doesn't seem promising either, Nasdaq Composite is now officially in correction territory, down more than 10% from its high close for the year in July. Among the stocks to be watching out for RIL & Maruti will be among those declaring their Q2 results. Other index heavyweights will also be in action after the rout that has wiped out 17.77 lakh cr of investors money. Stacy Pereira discusses all this and more with Hemant Shah Fund Manager, Seven Islands PMS & Raja Venkatraman Co-founder Neotrader and Trading Influencer on this episode of Morning Trade.
October 26, 2023 08:59 AM IST Bears seem to have a strong hold over Indian market. Sensex shed over 500 points while Nifty slipped below 19,200. The short-term trend of Nifty continues to be negative. The handover from wall street doesn't seem promising either, Nasdaq seeing sharp cuts of over 2% as tech stocks come under pressure on wall street. But can market stabilise around current levels or correct more on the monthly F&O expiry session? Among stocks in focus will be Asian Paints ahead of its earnings. Adani group of stocks will also be in focus after the NFRA has written to its past auditors. Whereas Unicorn Honasa Consumers is all set to file its IPO in Oct 31 the price band for which will be disclosed today. Stacy Pereira discusses this with Rahul Malani, Dy VP - Fundamental Research, Sharekhan by BNP Paribas & Brijesh Ail, Head Technical & Derivatives, Retail Research IDBI Capital Markets on this episode of Morning Trade.
October 25, 2023 08:37 AM IST Weak Global Cues Drag Market. Broader market falls the most. Sensex breaches 65,000 to end at lowest closing level in 4 months. Nifty & Midcap Index end at lowest closing levels in nearly 2 months. BSE companies see biggest single-day fall in market cap since January 27. Catch Stacy Pereira in conversation with Kunal Rambhia—Fund Manager, The Streets and Nikhil Oswal—Founder & Director, Finterest Capital as they discuss trade setup and buzzing stocks for today.
October 23, 2023 08:30 AM IST Multiple global factors including tension in the Middle East, spike in the crude prices and rising bond yields in the US have put a lid on Indian equity market upswing. But can the bull make their way back to Dalal street? It is the third week of earnings with almost 250 companies set to report their September quarter numbers, which could act as some trigger. Besides that Fed Chairman Jerome Powell will be delivering a speech on Oct 26 which could swing global markets along with US Q3 GDP estimates.It will also be crucial to monitor how ECB reacts. Among the stocks in focus would be banking stocks post their earnings, IPCA labs, Paytm & others. Stacy Pereira discusses all this with Rajesh Palviya · Senior Vice President Research (Head Technical & Derivatives ) at Axis Securities Limited& Vinit Bolinjkar-Head of Research, Ventura Securities on Morning Trade
October 20, 2023 08:44 AM IST Indian benchmark indices will continue to remain under pressure for the third session in a row, tracking weak global cues amid raging crisis in the Middle East and the ongoing earnings season. The benchmark Sensex and Nifty indices are likely to open in the red with the GIFT Nifty indicate a negative start for the broader index. FMCG Stocks like HUL, ITC will be in focus after putting out a stead set of Q2 numbers. Other stocks declaring their earnings on Oct 20 include JSW Steel, Paytm, L&T Finance among others. Catch Stacy Pereira in conversation with Kush Bohra Founder, kushbohra.com & Aishvarya Dadheech, Founder & CIO, Fident Asset Manegement on this episode of Morning Trade
October 19, 2023 08:29 AM IST Sensex and Nifty indices are likely to open marginally lower as trends in the GIFT Nifty indicate a negative start for the broader index with a loss of 24 points. On October 18, benchmark indices ended on a weaker note amid selling across the sectors barring except auto and pharma. The Sensex was down 551.07 points or 0.83 percent at 65,877.02, and the Nifty was down 140.40 points or 0.71 percent at 19,671.10. The pivot point calculator indicates that the Nifty may be taking support at 19,666, followed by 19,625 and 19,561. On the higher side, 19,796 can be an immediate resistance, followed by 19,836 and 19,901. Wall Street saw a sharp selloff last night while Asian markets are off to a weak start as US 10-year surges to a fresh 16-year high. This morning among stocks to watch will be Bajaj Auto, IndusInd Bank, Wipro as earnings came post market hours yesterday. Also watch out for big FMCG earnings today as HUL, ITC and Nestle report their quarterly numbers today. We will also discuss what to expect from the cement earnings. Catch Nandita Khemka in conversation with Rohan Shah - Technical Analyst, Religare Broking and Ronald Siyoni, Associate Vice President at Sharekhan by BNP Paribas.
October 18, 2023 08:32 AM IST Indian equity market closed higher for the first time in last four consecutive sessions, though it remained in the range of 19,500-19,850 on October 17. The Nifty50 ended at previous week's high and faced hurdle at 19,850 on the higher side, hence experts say if the index decisively closes above this mark, then it can march towards 19,000-20,000 area. The BSE Sensex jumped 261 points to 66,428, while the Nifty50 climbed 80 points to 19,812. The broader markets continued upward journey with the Nifty Midcap 100 and Smallcap 100 indices rising 0.35 percent and 0.88 percent respectively on positive breadth. This morning global cues are negative with Wall Street clocking mixed close and Asia on the backfoot. Gift Nifty hints at a mildly lower start and oil prices have surged past the $91/barrel mark ahead of US PresidentJoe Biden’s visit to the Middle-East. Stocks to watch today are RIL & ONGC after govt slashes windfall tax on crude petroleum. Also in focus will be Bajaj Finance after Q2 profit misses estimate and HUDCO as govt looks to sell stake via OFS. What should you expect from the auto sector in the second quarter? Catch Nandita Khemka in conversation with Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher and Aditya Welekar, Senior Research Analyst, Auto and Metals, Axis Securities.
October 17, 2023 08:33 AM IST Indian equity market consolidated in a narrow range throughout session before ending with moderate losses and also remained within previous day's trading range on October 16. For the Nifty50, 19,700 which coincides with 20-day EMA can be an immediate support for the Nifty50 followed by 19,600, whereas on the higher side, 19,800-19,850 will remain a key resistance area for further upside going ahead, experts said. The market will be awaiting the speech by the US Federal Reserve Chair Jerome Powell later this week. The BSE Sensex fell 116 points to 66,167, while the Nifty50 declined 19 points to 19,732. However, the broader markets outperformed benchmarks, as the Nifty Midcap 100 and Smallcap 100 indices gained 0.2 percent and 0.4 percent respectively, while the India VIX, which measures the expected volatility for next 30 days in the Nifty50, jumped by 5 percent to 11.07 levels. This morning global cues are fairly encouraging with Wall Street rallying over a percent last night and Asian markets off to a strong start. The GIFT Nifty is implying a start above the 19,800 mark. Stocks to watch today are HDFC Bank and Jio Financial post their Q2 results. Also in focus will be Bajaj Finance as it reports its quarterly earnings today. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, Vice president- Research (Derivatives And Technicals), TradeBulls Securities and Kaitav Shah, Lead BFSI Analyst, Anand Rathi Institutional Equities
October 16, 2023 08:35 AM IST The market is expected to take the support at 19,600 which somewhat coincides with the 50-day EMA (exponential moving average), in coming sessions as breaking of the same can trigger major correction, while the 19,800-19,850 area is likely to be critical for march upwards towards 19,900-20,000 levels, experts said. On October 13, the market managed to cut down losses by more than 100 points on the Nifty50 and settled off day's low, holding the 19,750 on closing and taking support at 19,600 intraday. The BSE Sensex declined 126 points to 66,283, while the Nifty50 fell 43 points to close at 19,751. The broader markets also ended moderately lower with the Nifty Midcap 100 and Smallcap 100 indices declining 0.1 percent and 0.4 percent respectively, while the volatility index, VIX, ended flat at 10.62 levels. This morning global cues are mixed with US futures in the green but Asian markets edging lower in trade. GIFT Nifty is hinting at a muted start for the Indian markets while Brent Crude is back above the $90/barrel mark. Stocks to watch today are the likes of HDFC Bank, Avenue Supermarts, Tata Motors and Delta Corp. Catch Nandita Khemka in conversation with Rajesh Palviya, Senior Vice President Research (Head Technical & Derivatives ) at Axis Securities and Hemang Jani, Market Expert.
October 13, 2023 08:36 AM IST Indian Equity indices have turned into a consolidation mode after two days rally, with the Nifty50 closing tad below 19,800 mark with a moderate losses on October 12. The index remained in the range of 19,750-19,850 for yet another session, hence the decisive breakout on either of this range can give clear direction to the market going forward, experts said.The BSE Sensex fell 65 points to 66,408, while the Nifty50 dropped 17 points to 19,794. The broader markets outperformed benchmark indices with the Nifty Midcap 100 and Smallcap 100 indices climbing 0.2 percent and 0.65 percent respectively. India VIX, which measures the expected volatility for next thirty days in the Nifty50, dropped for third straight session, indicating some stability in the equity markets. The VIX fell by 3.34 percent from 10.99 to 10.62 levels. This morning global cues are not very encouraging as Wall Street has snapped a 4-day winning streak amid a hotter than expected inflation data. Asian markets too edge lower with the GIFT Nifty hinting at a negative start. Among stocks to watch out for will be Infosys after a strong show in Q2 but surprise guidance cut could take a toll on the stock. HCL Tech will be in focus too as revenue misses estimates. Also watch out for Dr Reddy’s and Angel One. Catch Nandita Khemka in conversation with Siddhartha Khemka, Head - Retail Research, Broking & Distribution, MOFSL and Raja Venkatraman, Co-founder Neotrader and Trading Influencer.
October 12, 2023 08:40 AM IST Indian equity market extended its northward journey for a second consecutive session with the Nifty50 climbing above 19,800, which is on expected lines, on October 11. Hence, if the index sustains the 19,750-19,800 area in the coming sessions, the march towards the 20,000 mark can't be ruled out, while taking support at 19,600-19,500 levels, experts said. The BSE Sensex jumped 394 points to 66,473, while the Nifty50 rose 122 points to 19,811. The broader markets also maintained momentum on positive breadth. The Nifty Midcap 100 and Smallcap 100 indices gained half a percent and 0.8 percent respectively, while about two shares advanced for every share rising on the NSE. This morning global cues are supportive with Wall Street clocking a 4-day winning streak and GIFT Nifty hinting at a higher open. IT pack will be in focus after TCS’ mixed quarterly show and buyback announcement and ahead of Infosys and HCL Tech Q2 earnings. Meanwhile, other stocks in focus today are IndusInd Bank and Delta Corp. Catch Nandita Khemka in conversation with Brijesh Ail, IDBI Capital Markets and Brijesh Ail, IDBI Capital Markets.
October 11, 2023 08:37 AM IST Indian equity market bounced back sharply on October 10 after a day of correction due to geopolitical tensions between Israel & Palestine. The Nifty50 decisively climbed above last week's high on closing basis and experts believe that a close above 19,700-19,800 area in coming sessions can take the index towards 20,000 mark. The BSE Sensex climbed 567 points to 66,079, while the Nifty50 jumped 178 points to 19,690, recouping entire previous day's losses. The Nifty Midcap 100 and Smallcap 100 indices also remained strong on positive breadth, rising 1.4 percent and 1.2 percent respectively. About three shares advanced for every falling share on the NSE. This morning global cues are looking pretty strong with Wall Street clocking gains, Asian markets off to a strong start and the GIFT Nifty signalling an open above the 19,800 mark for the Nifty. Meanwhile, stock in focus today are TCS as it reports its Q2 earnings today. Moneycontrol’s Debangana Ghosh gives us a lowdown on what to expect. We also put the spotlight on Bank of Baroda as RBI bars the lender from onboarding new customers on its mobile app. Catch Nandita Khemka in conversation with Hemen Kapadia, Senior Vice President, Institutional Equity, KR Choksey Shares & Securities and Pankaj Kumar, VP - Fundamental Research, Kotak Securities.
October 10, 2023 08:39 AM IST The market failed to extend the momentum seen last week and wiped out all the previous two days' gains on October 9, especially after conflict escalated between Israeli and Palestine, which ultimately boosted oil prices in the international market. The Nifty50 has managed to defend 19,500-19,450 area amid volatility and selling pressure, which if it holds in coming sessions then the resumption of upward rally towards 19,600-19,800 will be seen again, whereas the crucial support for the index remains at 19,300 levels, experts said. The BSE Sensex declined 483 points to 65,512, while the Nifty50 climbed 141 points to 19,512. On the broader markets front, the Nifty Midcap 100 and Smallcap 100 indices were down 1.3 percent and 1.8 percent, respectively, on weak breadth, while the volatility index, India VIX jumped sharply by 12.11 percent to 11.40 levels, giving discomfort for bulls. This morning global cues are positive with US markets clocking in gains overnight as Fed members signal caution over future rate hikes. Asia is off to a strong start with the GIFT Nifty hinting at a start above the 19,600 mark. Meanwhile, stock in focus today are Dr Reddy’s as arm faces anti-trust complaint in U.S. over cancer drug Revlimid. Also in the spotlight will be Mazagon Dock, Genus Power and Phoenix Mills. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, VP- Research (Derivative’s & Technical), Tradebulls Securities and Sandeep Raina, Executive Vice President- Research, Nuvama Professional Clients Group.
October 09, 2023 08:35 AM IST Indian equity market snapped two-week losing streak and closed moderately higher for the week ended October 6 after showing smart recovery from weekly lows. The market clawed back above 10-day EMA (exponential moving average placed at 19,627) as well as 50-day EMA (19,560) on the Nifty50 after the positive trend in last couple of sessions. The recovery may continue in the coming week too, but volatility can't be ruled out with more stock specific action given the beginning of September quarter earnings season, experts said, adding the participants will also closely watch the September inflation numbers by US and India along with FOMC minutes. The equity market uptrend was supported majorly by falling oil prices, healthy domestic PMI data, and Monetary Policy Committee's status quo in repo rate, but the RBI still sees inflation as a major risk and continues to be hawkish with the announcement of OMOs to manage liquidity. However, the significant FII outflow due to elevated US bond yields and US dollar index capped gains. The BSE Sensex gained 167 points at 65,996, and the Nifty50 rose 15 points to 19,654, while the Nifty Midcap 100 index lost 0.6 percent and Smallcap 100 index climbed 0.7 percent during the week. Auto, banks, energy, pharma, oil & gas stocks were under pressure, whereas technology, and realty stocks trended higher. This morning global cues are not very encouraging as Dow futures slump over 200 points, Asian markets are largely lower and oil has surged to $88/barrel in the wake of Hamas attack on Israel. Meanwhile, stocks in focus today are TCS, Titan, TVS Motor & MCX among others. Catch Nandita Khemka in conversation with Kunal Shah, Senior Research Analyst, Carnelian Capital and Rajesh Palviya of Axis Securities.
October 06, 2023 08:41 AM IST Indian equity market rebounded smartly after couple of days of correction and climbed back above 19,500 mark on October 5. Experts say if the index sustains this uptrend in coming session then it may face hurdle at 19,600-19,700 levels, whereas on the lower side 19,400-19,350 can be key support. The positive signals from PMI data, and fall in oil prices seem to have boosted sentiment, while in terms of sectors, banking & financial services and technology stocks supported the market. The benchmark indices had a gap up opening with the BSE Sensex rising 406 points at 65,632, and the Nifty50 climibing 110 points to 19,546, ahead of the outcome of Monetary Policy Committee scheduled on October 6. On the broader markets front, the Nifty Midcap 100 index was flat and the Nifty Smallcap 100 index rose 0.6 percent amid positive breadth. The volatility cooled down considerably with the India VIX declining 5.94 percent to 10.94 levels. This morning global cues are mixed with Wall Street ending in the negative zone but Asian markets edge higher as US 10-year yields ease from 16-year highs ahead of monthly jobs data due tomorrow. The GIFT Nifty hints at a mildly higher start for the Indian market. Investors will also watch out for the RBI policy outcome today. The central bank is likely to keep repo rate unchanged but the commentary is expected to be hawkish. Meanwhile, stocks in focus today are Bajaj Finance, PB Fintech and Godrej Consumer. Catch Nandita Khemka in conversation with Raja Venkatraman, Co-founder Neotrader and Trading Influencer and Latha Venkatesh, Executive Editor, CNBC-TV18.
