December 28, 2023 08:34 AM ISTIndian equity market is expected to maintain its bullish run given the significant consolidation breakout ahead of the monthly expiry of derivative contracts on December 28. The Nifty 50 is likely to face immediate resistance at 21,700-21,800 levels, followed by the 22,000 mark, considering the higher highs, higher lows formation and positive momentum indicators, while the 21,500, which acted as a resistance, is expected to be support for the index, experts said. On December 27, the benchmark indices ended at fresh record closing highs. The BSE Sensex climbed above the 72,000 mark for the first time, rising 702 points to 72,038, while the Nifty 50 surged 214 points to 21,655. Meanwhile, the volatility jumped to the highest level since March 20 this year, which experts feel may make the trend unfavourable for bulls. The India VIX rose 6% to 15.56 levels. This morning global cues are positive with Wall Street poised to clock its ninth-straight winning week and the GIFT Nifty hinting at a fresh high above the 21,700 mark. Also among stocks in focus today, we put the spotlight on Canara Bank, NTPC, Zomato and LIC among others. Watch out for Sachin Tendulkar-backed Azad Engineering, that makes its stock market debut today. Catch Nandita Khemka in conversation with Andrew Holland-- Chief Executive Officer, Avendus Capital Public Markets Alternate Strategies LLP and Osho Krishan, Senior Analyst - Technical & Derivative Research, Angel One.
December 27, 2023 08:29 AM IST Indian equity market is expected to remain rangebound with a positive bias with the Nifty 50 facing hurdle at 21,500-21,600 on the higher side, and taking support at 21,200-21,000 levels in coming sessions, while the volume is expected to be low given the holiday period, experts said. The benchmark indices continued upward momentum for three days in a row. On December 26, the BSE Sensex climbed 230 points to 71,337, while the Nifty 50 was up 92 points at 21,441 and formed bullish candlestick pattern on the daily charts with higher highs, higher low formation for yet another session. The India VIX, known as the fear indicator, rose over 7% to 14.68, giving some discomfort to the bulls. This morning global cues are upbeat with Wall Street inching towards record high and Asian markets in fine fettle. The GIFT Nifty is signaling a start above the 21,500 mark. Also among stocks in focus today, we put the spotlight on Zydus Health, AB Capital, Hero Moto & Adani Green among others. Catch Nandita Khemka in conversation with Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher and Preeyam Tolia, Senior Research Analyst, FMCG, Axis Securities.
December 26, 2023 08:58 AM IST Indian equity market is expected to be rangebound in the last week of the 2023 with Nifty 50 facing resistance in the zone of 21,500-21,600, and taking immediate support at 21,300-21,200 levels. Clearance of 21,600 decisively can take the index towards 21,800 levels, while the breaking of the said support can drag it towards 21,000 levels, experts said. On December 22, the benchmark indices extended gains for second consecutive session after sharp fall in middle of the week. The BSE Sensex rallied 242 points to 71,107, while the Nifty 50 jumped 94 points to 21,349. The broader markets also traded higher with the Nifty Midcap 100 and Smallcap 100 indices rising 0.7 percent and 1 percent respectively. This morning global cues are largely muted with Asian markets subdued in early and absence of cues from Wall Street. But US stocks clocked an eighth straight week of gains as inflation cools further. The GIFT Nifty is indicating a higher start for the Indian market. Also among stocks in focus today, we put the spotlight on Infosys, Paytm & Aurobindo Pharma among others. Catch Nandita Khemka in conversation with market expert Ambareesh Baliga and Sacchitanand Uttekar, Vice president- Research (Derivatives And Technicals) at TradeBulls Securities.
December 22, 2023 08:59 AM IST Indian equity market rebounded smartly and held on to the psychological 21,000 mark at close on December 21. Going ahead, the current ongoing consolidation is expected to continue with near term support at around 21,000 as if the index closes below the same then sharp correction can be seen, while on the higher side, 21,593, the record high, is likely to be key hurdle as the decisive crossing of the same can start another leg of rally, experts said. The broader markets have also seen a rebound after more than 3 percent correction in previous session. The Nifty Midcap 100 and Smallcap 100 indices gained 1.7 percent and 1.9 percent respectively. This morning global cues are positive with Wall Street on track for 8th weekly gain and GIFT Nifty hinting at a higher start for the Indian market. Also among stocks in focus today, we put the spotlight on Zomato, LIC, Bata India among others. Catch Nandita Khemka in conversation with Raja Venkatraman, Co-Founder NeoTrader & Trading Influencer and Mithun Aswath, Managing Partner, Kivah Advisors.
December 21, 2023 08:42 AM IST Indian equity market finally caught into the much-awaited major profit booking and lost more than 400 points from its record high touched in the morning session on December 20 despite the positive mood at global counterparts. The Nifty50 is likely to take support at around the psychological 21,000 mark in the profit booking, and 20,800 is expected to be a crucial support area, whereas it may face resistance at the 21,200-21,400 zone and 21,600 seems to be the top for the time being, expert said, adding overall, the market sentiment is still positive and remained consolidative unless it decisively breaks 20-day EMA (exponential moving average which is nearly 400 points away from Wednesday's closing). On December 20, the BSE Sensex fell 931 points or 1.3 percent to 70,506, while the Nifty50 tanked 303 points or 1.4 percent. The broader markets hit badly with negative breadth. The Nifty Midcap 100 and Smallcap 100 indices corrected 3.3 percent and 3.6 percent, respectively. The fear index, India VIX also jumped further, rising 4.20 percent to 14.45, from 13.87 levels, which made the bulls uncomfortable at higher levels. This morning global cues are downbeat with Wall Street clocking its worst session since September. But the GIFT Nifty is hinting at a muted start. Also among stocks in focus today, we put the spotlight on railway stocks, Zee and defence stocks among others. Catch Nandita Khemka in conversation with Milan Vaishnav, Founder and Technical Analyst, ChartWizard FZE and Gemstone Equity Research and Market expert Ajay Bagga.
December 20, 2023 08:47 AM IST The Nifty 50 surpassed the much-awaited 21,500 mark for the first time on December 19, but could not sustain above the same. This is expected to remain as a key resistance area for the index going forward as sustaining above the same can be a start for another leg of upward momentum in coming sessions, below the same consolidation can be seen and 22,300-22,200 can remain good support for the index, experts said. On December 19, the rebound in the afternoon after correction in the morning session helped the market close moderately higher. The BSE Sensex rose 122 points to 71,437, while the Nifty 50 advanced 34 points to 21,453. This morning global cues are extremely positive with Dow clocking a ninth straight day of gains and Asian markets edging higher in trade. The GIFT Nifty is hinting at a gap up start and a fresh high above the 21,600 mark. Also among stocks in focus today, we put the spotlight on Embassy REIT, Nippon AMC, Astral, Varun Beverages among others. Catch Nandita Khemka in conversation with Hemen Kapadia, Senior Vice President, Institutional Equity, KR Choksey Shares & Securities and Kunal Valia, Founder of Stat Lane.
December 19, 2023 08:32 AM IST After a sharp rally in the previous couple of sessions, it was a lackluster trade for the Indian market on December 18. However, the index being near its record high and maintaining its previous day's closing low, it seems that the momentum still lies with the bulls. Hence, experts see some more consolidation in the coming days, before the market gets into a strong mood with the resistance at 21,500 and support at 21,200 levels. On December 18, the benchmark indices retreated a bit with the BSE Sensex falling 169 points to 71,315, while the Nifty50 declining 38 points to 21,419. The India VIX, the fear index jumped to the highest level in the current financial year, making the bulls a bit uncomfortable. The VIX rose by 5.88 percent to 13.90 levels. This morning global cues are mixed with Wall Street notching overnight gains and Asian markets fixed ahead of BoJ decision. The GIFT Nifty is hinting at another muted session. Also among stocks in focus today, we put the spotlight on ONGC, RIL, Apollo Tyres, Nestle, Devyani International, Archean Chemicals among others. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, Vice president- Research (Derivatives And Technicals) At TradeBulls Securities and Dhiraj Mathur IAS(Retd), Independent Director and Aviation Expert, Former Partner PwC and leader of Aero & Defence practice.
December 18, 2023 08:31 AM IST Indian equity market recorded sharp upmove for second consecutive session and moved closer to 21,500 mark on December 15. Experts believe the momentum indicator RSI (relative strength index) is showing positive bias, but has reached th overbought stage, hence, some kind of consolidation can't be ruled out in coming days. Immediate support on the Nifty is seen in the 21,300-21,200 zone, before it can resume its upward journey above the 21,500 mark. On December 15, the BSE Sensex surged 970 points to 71,484, while the Nifty50 rose 274 points to 21,457. The broader markets gained but underperformed benchmark indices. The Nifty Midcap 100 index was up 0.11 percent and Smallcap 100 index gained 0.7 percent, while the India VIX, the fear index jumped above 13 mark, rising 6.55 percent to 13.13 levels, which is a bit of concern for bulls. This morning global cues are mixed with Asian markets edging lower ahead of BoJ rate decision and China loan prime rates later this week. Wall Street clocked in a seventh straight week of gains with Dow hitting a fresh high in intra-day trade. The GIFT Nifty is hinting a muted start for Indian market. Also among stocks in focus today, we put the spotlight on Zee Entertainment, JSW Group, J Kumar Infratech & PB Fintech among others. Catch Nandita Khemka in conversation with Harsha Upadhyaya, Chief Investment Officer - Equity, Kotak MF and Rajesh Palviya, Senior Vice President Research Head-Technical & Derivatives at Axis Securities.
December 15, 2023 08:39 AM IST The market made a remarkable journey on December 14, with coming back strongly after six-day consolidation and climbed to a new high on the benchmark indices as well as Bank Nifty. Given the strong momentum and holding 20,850 as a strong support in the past six days on closing basis, the Nifty50 is likely march towards 21,400-21,500 levels in coming sessions with sector rotation support, experts said. On December 14, the BSE Sensex hit 70,500 levels for the first time, rising 930 points to 70,514 after dovish commentary by the Federal Chair Jerome Powell, while the Nifty 50 hit a new high of 21,211 and closed at new all-time high of 21,183, up 256 points. The index has formed bullish candlestick pattern on the daily charts, after strong gap up opening. The broader markets continued northward journey with the Nifty Midcap 100 and Smallcap 100 indices rising 1.3 percent and 0.9 percent respectively. This morning global cues are solid with Dow notching yet another record close and the GIFT Nifty hinting at a fantastic Friday for Dalal Street as it trades above the 20,400 mark. Also among stocks in focus today, we put the spotlight on Hero Motocorp, M&M Finance & PVR Inox among others. Catch Nandita Khemka in conversation with Raja Venkatraman, Co-Founder, NeoTrader & Trading Influencer and Mayuresh Joshi--Head of Equity Research, William O’Neil India.
December 14, 2023 08:43 AM IST Indian equity benchmarks turn cautious ahead of the FOMC meet outcome and saw some profit booking on December 12. Overall, the Nifty50 still remained rangebound with taking support at 20,850-20,800 levels and facing resistance at 21,000-21,100 levels, hence as long as the index holds this immediate support, the rangebound trade may continue and if it trades above 21,000 for few days, then another leg of rally can be possible, experts said. On December 12, the BSE Sensex fell 378 points to 69,551, while the Nifty50 declined 91 points to 20,906. The market breadth was in favour of bears, but the broader markets had a mixed trend. About 1,371 equity shares declined against 758 advancing shares on the NSE. The Nifty Midcap 100 index was up 0.4 percent and Smallcap 100 index gained 0.03 percent. This morning global cues are sanguine despite an uptick in US core inflation and ahead of the US Fed rate decision tonight. The Gift Nifty hints at a mildly higher start. Also among stocks in focus today, we put the spotlight on Axis Bank, Pharma Companies amid US FDA setback and PI Industries among others. Catch Nandita Khemka in conversation with Kush Bohra, Founder, kushbohra.com and Purvi Shah, DVP (Fundamental Research) – Pharma Analyst, Kotak Securities.
December 14, 2023 08:41 AM IST Indian equity markets are poised for a strong start after yesterday’s fag end buying. The GIFT Nifty is hinting at a fresh high as it trades above the 21,200 mark. U.S. stock futures are edging higher after the Federal Reserve indicated multiple rate cuts in 2024, and the Dow Jones closed at an all-time high. U.S. Federal Reserve kept interest rates unchanged in a range between 5.25% and 5.5%, in line with Wall Street’s expectations. Market sentiment was buoyed after policymakers penciled in 3 rate cuts next year. On December 13, the BSE Sensex rose 34 points to 69,585, while the Nifty50 gained 20 points at 20,926. The broader markets also traded strong with the Nifty Midcap 100 and Smallcap 100 indices rising 0.9 percent each on positive breadth, while the fear index India VIX dropped by 5% to 12.07 levels. Among stocks in focus today, we put the spotlight on Fusion Micro, SBI, IRCTC and Uno Minda among others. Catch Nandita Khemka in conversation with Peter Cardillo, Chief Market Economist, Spartan Capital Securities LLC and Shivangi Sarda, Analyst- Equity Derivatives & Technicals, Broking & Distribution, MOFSL.
December 11, 2023 08:33 AM IST Indian equity markets had a spectacular run in the week ended December 8, reporting the biggest weekly gain in last 16 months and hitting the much-awaited psychological 21,000 mark for the first time. Favourable States elections results hinting more infrastructure investment from government, better-than-expected economic growth for Q2FY24, increase in full year GDP growth estimates by RBI while maintaining status quo on policy rates & retaining full year inflation forecast, strong hopes of ending rate hike cycle despite inflation concerns, and stable oil prices lifted market sentiment. After consistent run up in past six weeks, the market is expected to see a rangebound trade and consolidation, with major focus on the Fed meet outcome and the Powell commentary especially after latest better-than-expected jobs data and lower unemployment rate in November, and monthly inflation data by US & India. During the last week, the benchmark indices as well as Bank Nifty ended at fresh record closing high. The Nifty50 closed at 20,969, up 702 points or 3.46 percent, the biggest weekly gain since July 2022, while the BSE Sensex rallied 2,344 points or 3.47 percent to 69,826. Banking & financial services, energy, infrastructure, technology, metal, oil & gas, and auto stocks supported the market, while FMCG and pharma stocks were under pressure. The broader markets also recorded gains with the Nifty Midcap 100 and Smallcap 100 indices rising 2.35 percent and 1.16 percent respectively. This morning global cues are positive as investors digest China CPI data for November and US jobs data. The GIFT Nifty is hinting at a mildly higher start for the Indian market. Also among stocks in focus today, we put the spotlight on among others Tata Motors, Cipla, GMR Airports & Pricol among others. Catch Nandita Khemka in conversation with Rajesh Palviya, Senior Vice President Research Head-Technical & Derivatives at Axis Securities and Aishvarya Dadheech, Founder & CIO, Fident Asset Management.
December 08, 2023 08:34 AM IST Indian equity market finally entered into consolidation mode and saw profit taking on December 7, after significant upward journey in previous seven straight sessions. Hence, the said consolidation may continue for some more days with major support at 20700-20,500 area, as long as the Nifty50 trades below psychological 21,000 mark, but in case, the index sees sharp upmove above 21,000 mark, then another phase of northward journey may be seen, experts said. On December 7, the BSE Sensex declined 132 points to 69,522, while the Nifty50 fell 37 points to 20,901 and formed bearish candlestick pattern with long lower shadow on the daily scale. The broader markets gained a bit of strength compared to consolidation in the past two days, with the Nifty Midcap 100 and Smallcap 100 indices rising six-tenth of a percent and 0.4 percent respectively on positive breadth. About 1,193 shares advanced against declining 933 shares on the NSE. The volatility index, India VIX also trended lower, snapping three-day upmove and closing 7.76 percent lower at 12.67 levels which provided some support to the market. This morning global cues are mixed with Wall Street snapping a 3-day losing streak and Asian markets too in the mixed zone after a surprise revision in Japan’s Q3 GDP. The GIFT Nifty, however, trades above the 21,000 mark. Among stocks in focus today, we put the spotlight on Zomato, Five-Star Business, Concor, IRCON among others. The MPC will also announce its interest rate decision today. Catch Nandita Khemka in conversation with Latha Venkatesh, Executive Editor, CNBC-TV18 and Raja Venkatraman, Co-founder Neotrader and Trading Influencer.
December 07, 2023 08:25 AM IST The Nifty is expected to scale mount 21k today as the GIFT Nifty is trading above the crucial level. After a consistent run-up for the last seven consecutive, experts expect some kind of consolidation with the index facing resistance at 21,000 mark while taking support at 20,800-20,500 area. On December 5, the BSE Sensex climbed 358 points to 69,654, and the Nifty50 jumped 83 points to 20,938, taking the total seven-day gains to 3,684 points and 1,143 points, respectively. This morning global cues are downbeat with Wall Street clocking a 3-day losing streak. Also among stocks in focus today, we put the spotlight on IDFC First Bank, IRCON, BEL & Paytm among others. Catch Nandita Khemka in conversation with Hemen Kapadia, Senior VP-Institutional Equity, KR Choksey Shares & Securities and Nirav R Karkera , Head Of Research, Fisdom.
December 05, 2023 08:54 AM IST Indian equity benchmarks Sensex and Nifty zoomed to new highs surging more than 2 percent on December 4, as investors celebrated the BJP’s win in three state elections, seeing it as a sign of continuing political stability. At close, the Sensex was up 1,383.93 points, or 2.05 percent, to 68,865.12, and the Nifty was up 418.9 points, or 2.07 percent, to 20,686.80, closing at a new high for the second successive session. The pivot point calculator indicates that the Nifty is likely to see immediate resistance at 20,289, followed by 20,314 and 20,356, while on the lower side, it can take support at 20,207, followed by 20,181 and 20,140 levels. This morning global cues are subdued with Wall Street pausing its rally and Asian markets trending lower. The GIFT Nifty is in the negative zone but hints at a dash at 20,800 for the Nifty. Also among stocks in focus today, we put the spotlight on Honasa Consumer, Bank Of India and CAMS among others. Which are the themes one should look at to ride this upmove in the run up to the general elections? Catch Nandita Khemka in conversation with Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One and Feroze Azeez, Deputy CEO, Anand Rathi Wealth.
December 04, 2023 08:23 AM IST The benchmark Sensex and Nifty indices are likely to open on a strong note on December 4 as trends in the GIFT Nifty indicate a positive start for the broader index with a gain of 287 points after a clean sweep by the BJP in state elections. On Friday, Nifty50 index had scaled a fresh all-time high as the investors cheered the higher-than-expected GDP data and buying across sectors, barring auto. At close, the Sensex was up 492.75 points or 0.74 percent to 67,481.19, and the Nifty was up 134.70 points or 0.67 percent to 20,267.90. The pivot point calculator indicates that the Nifty is likely to see immediate resistance at 20,289, followed by 20,314 and 20,356, while on the lower side, it can take support at 20,207, followed by 20,181 and 20,140 levels. Will the bulls charge for new highs post Modi's electoral triumph in the Hindi heartland? Get expert insights on navigating this leg of the bull run! Catch Nandita Khemka in conversation with Moneycontrol’s markets editor N Mahalakshmi, Sushil Kedia, Founder, Kedianomics, and Amit Jeswani, Founder, Stallion Asset.
December 01, 2023 08:53 AM IST Last-hour buying helps Nifty close above the 20,100 mark, continuing the positive trend and higher highs, and higher lows formation for the third consecutive session on November 30. The ongoing momentum and renewed FII buying interest indicated the trend is in favour of bulls, who are expected to take the Nifty50 beyond the previous record high (20,222) in the initial days of the December series, followed by 20,500, while the 20,000 may act as an immediate support, experts said. On the day of the monthly expiry of November derivative contracts, the BSE Sensex rose 87 points to 66,988, while the Nifty50 was up 37 points at 20,133. The trading volume on the expiry day was significantly higher, with the highest-ever single-day buying by FIIs since March 2 this year, which is another positive sign. This morning global cues are mixed as Dow clocks new high for the year amid a cooloff in US inflation data. Also among stocks in focus today, we put the spotlight on Kesoram Industries, Whirlpool India among others. Flair Writing debuts on the bourses today. Catch Nandita Khemka in conversation with Brijesh Ail, Head Technical & Derivatives, Retail Research, IDBI Capital Markets and Securities and Dipti Deshpande, Principal Economist, CRISIL.
November 30, 2023 08:43 AM IST since September. Hence, given the index traded well above all key moving averages and positive trend in the momentum indicator RSI (relative strength index) & MACD (moving average convergence divergence) on daily, weekly and monthly timeframes, the Nifty50 may start surpassing its previous record high (20,222.45) in coming days, with support at 20,000-19,800 levels, experts said. Now bulls seem to be back in full action on November 29, a day before the expiry of November futures & options contracts, and exit polls of five States elections. The trading volumes on the Nifty50 also remained strong in last two consecutive sessions, which is another positive sign, though the breadth needs to be strong for further upmove. The BSE Sensex jumped 728 points or 1.1 percent to 66,902, while the Nifty50 rallied 207 points or 1.04 percent to 20,097. However, the India VIX advanced for third consecutive session, rising 4.4 percent to 12.7 levels and closed above 200-day EMA (exponential moving average) for first time in last 10 months. This morning global cues are mixed with GIFT Nifty hinting at a muted start. Watch for India Q2 GDP data and exit poll predictions for the assembly elections. Also among stocks in focus today, we put the spotlight on Thomas Cook, IDBI Bank and Lemon Tree among others. Tata Technologies lists on the bourses today along with two other stocks - Gandhar Oil & Fedbank Financial. Catch Nandita Khemka in conversation with Deepak Jasani, Head-Retail Research, HDFC Securities and Ajit Mishra--SVP, Technical Research, Religare Broking.
November 29, 2023 08:38 AM IST Nifty may gradually start moving towards psychological 20,000 mark and then record high (20,200) in coming sessions amid optimism post the breakout of seven-day consolidation. Immediate support is now seen at 19,800-19,700 levels, experts said. On November 28, the BSE Sensex rose 204 points to 66,174, while the Nifty50 was up 95 points at 19,890. The broader markets also gained strength with the Nifty Midcap 100 and Smallcap 100 indices rising half a percent and third of a percent respectively, while the India VIX, the volatility index, increased sharply by 7.45 percent to 12.18 levels, may be ahead of exit poll of five States elections. Midcap index hit a fresh high and the realty index also scaled new peak yesterday. This morning global cues are positive with US stock futures heading higher and GIFT Nifty signalling an open above the psychological 20,000 mark. Also among stocks in focus today, we put the spotlight on Zomato, Aster DM and Siemens among others. Meanwhile, legendary investor Warren Buffett’s right hand man Charlie Munger has passed away at the age of 99. Catch Nandita Khemka in conversation with Mayuresh Joshi--Head of Equity Research, William O’Neil India and Shivangi Sarda, Analyst- Equity Derivatives & Technicals, Broking & Distribution, MOFSL
November 28, 2023 08:41 AM IST The market had a lacklustre week ended November 24 due to absence of any major global and domestic cues, but continued to end higher for fourth consecutive week. The coming truncated week will be full of news including exit polls after fives States elections, September FY24 quarter economic growth, and second estimates for Q3-CY23 US GDP numbers, which seem to be eagerly awaited by the participants. Overall, the market is likely to get into some momentum after the rangebound trade seen in previous seven trading sessions, by taking cues from several global and domestic factors, though there may be a bit of volatility due to expiry of monthly derivative contracts, experts said. The Nifty50 climbed 63 points to 19,795, and the BSE Sensex rose 175 points to 65,970, supported by auto, banking & financial services, energy, metal and pharma stocks. The broader markets had a mixed trend as the Nifty Midcap 100 index advanced 0.6 percent and Nifty Smallcap 100 index was down 0.4 percent. This morning global cues are fairly supportive with US futures mildly higher after a negative close overnight. Asian markets are mixed but the GIFT Nifty is signalling a start around the 19,850 mark. Also among stocks in focus today, we put the spotlight on Paytm, DLF and PB Fintech among others. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, Vice president- Research (Derivatives And Technicals) At TradeBulls Securities and Asutosh Mishra, Head Research – Institutional Equity at Ashika Stock Broking.
November 24, 2023 08:35 AM IST Indian equity benchmarks are attempting to make a comeback and hold above the 19,850 resistance area. Experts say if the index successfully climbs above this area, then immediate resistance to watch out for will be 19,900-20,000 levels, with support at 19,700-19,500 area. On November 23, BSE Sensex was down 5.4 points at 66,018, while the Nifty50 declined 10 points to 19,802. The index has been in the range of 19,600-19,875 levels for sixth day in a row now. The cooling down volatility supported the market, with the fear index India VIX declining 4.63 percent to 11.32 levels, while the market breadth was in favour of bulls as about 1,146 shares advanced against declining 951 shares on the NSE. This morning global cues are muted in absence of cues from Wall Street which was shut on account of Thanksgiving holiday. The GIFT Nifty is hinting at a mildy higher start. Also among stocks in focus today, we put the spotlight on Cipla after yesterday’s crash, Indian Hotels post the data leak, TCS and Axis Bank. Catch Nandita Khemka in conversation with Raja Venkatraman Co-founder Neo- trader and Market Expert Ajay Bagga.
November 23, 2023 08:36 AM IST After a struggle amid rangebound trade, the Nifty50 successfully closed above 19,800 levels. Hence, if the index manages to sustain above the same mark, then 19,900-20,000 zone can't be ruled out in coming sessions, which is also indicated by the Options data, with support at 19,700-19,500 area, experts said. On November 22, the BSE Sensex was up 92.5 points at 66,023, while the Nifty50 rose 28 points to 19,811.8, the highest closing level since September 20. On the daily charts, the Nifty tested the support zone of 19,700- 19,680 and witnessed a sharp recovery which indicates buying interest at support levels. However, the market breadth was in favour of bears as about three shares declined for every two shares rising on the NSE. As a result, the Nifty Smallcap 100 index fell 1.2 percent, whereas the Nifty Midcap 100 index gained 0.3 percent. This morning global cues are mixed with Wall Street clocking gains overnight and Asian markets trading mixed. The GIFT Nifty is hinting at a start around the 19,900 mark. Also among stocks in focus today, we put the spotlight on Honasa Consumer, TVS Motor and Power Grid among others. Catch Nandita Khemka in conversation with Milan Vaishnav, Founder and Technical Analyst, ChartWizard FZE and Gemstone Equity Research and Kranthi Bathini - Equity strategist at WealthMills Securities.
November 22, 2023 08:38 AM IST After a two-day fall the equity indices ended higher on November 21, erasing most of the last two-session losses amid buying seen across the sectors barring capital goods, and oil and gas stocks. At close, the Sensex was up 275.62 points or 0.42 percent at 65,930.77, and the Nifty was up 89.40 points or 0.45 percent at 19,783.40. Market opened higher with Nifty above 19,750 amid positive global cues and extended the gains as the day progress, helping Nifty to cross 19,800 and Sensex 66,000, intraday. The midcap index hit a fresh lifetime high in intra-day trade before ending the day marginally higher. Biggest gainers on the Nifty included SBI Life Insurance, HDFC Life, Adani Enterprises, Hindalco Industries and JSW Steel, while losers were Coal India, ONGC, BPCL, Tech Mahindra and LTIMindtree. Among sectors, pharma, realty, and metal up 1 percent each, while oil & gas and capital goods down 0.5 percent each. This morning, despite a mixed handover from US and Asian markets, the GIFT Nifty is signalling a higher open for the Indian market. Also among stocks in focus today, we put the spotlight on TCS, Titan, Maruti and a whole host of other stocks. A slew of IPOs including Tata Tech, Gandhar Oil & Flair Writing are slated to hit the markets today. Should you subscribe to any of them? Catch Nandita Khemka in conversation with Hemen Kapadia, Senior Vice President, Institutional Equity, KR Choksey Shares & Securities and Gaurang Shah, Senior Vice President, Geojit Financial Services
November 21, 2023 08:36 AM IST Indian equity benchmarks ended lower for the second consecutive session on November 20 with the Sensex closing down 139.58 points or 0.21 percent at 65,655.15, and the Nifty falling 37.80 points or 0.19 percent to end at 19,694. Amid mixed global cues, the market started on a subdued note and remained rangebound during the day, with the Nifty falling below 19,700 amid selling seen in the auto, capital and FMCG names. This morning the GIFT Nifty is hinting at a start around 19,800 backed by strong global cues. Wall Street clocked overnight gains with S&P500 notching a fifth straight day of gains. IT stocks continue to see buying interest even as Jefferies sounds caution. The global brokerage believes the IT rally may be overdone as near-term outlook remains weak. Is the recovery that has played out in tech stocks for real? Also among stocks in focus today, we put the spotlight on Rategain Travel, ABB India and Oberoi Realty. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, VP-Research (Derivatives And Technicals), TradeBulls Securities and Ashutosh Sharma, Head-Forrester Research India.
November 20, 2023 08:47 AM IST Indian 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.
