Indian equity market continued its higher highs formation as well as upward journey for fifth consecutive session as the Nifty reclaimed the 19,700 mark. Experts say the index is likely to move towards 19,800-19,900 levels in coming sessions, provided it holds 19,650. The 19,700-19,500 is expected to be support zone. The BSE Sensex jumped 385 points to 66,266, while the Nifty50 rose 116 points to 19,727. The positive trend remained in broader markets for nine days in a row, with the Nifty Midcap 100 and Smallcap 100 indices rising 0.8 percent and half a percent respectively. This morning the cues from global markets are once again fairly subdued with Wall Street clocking a mixed close and Asian markets edging lower after Japan’s Q2 GDP data disappoints. However, GIFT Nifty is implying a mildly positive start for the Indian Market. Stocks in focus will be Ashok Leyland, Landmark Cars, Shemaroo Entertainment and Mazagon Dock. Meanwhile, EMS IPO kicks off for subscription today. Catch Nandita Khemka in conversation with Raja Venkatraman, Co-founder Neotrader and Trading Influencer and Prateek Pant, Chief Business Officer, WhiteOak Capital.
Indian equity market rebounded smartly in late trade and closed higher for yet another session with continuing higher highs formation on the Nifty50 for four days in a row. Experts say the index can possibly start marching towards 19,700-19,750 area in coming sessions, with immediate support at 19,500-19,400 levels. The BSE Sensex climbed 100 points to 65,881, while the Nifty50 rose 36 points to 19,611 amid volatility, staging a smart recovery in the last hour of trade. The broader markets saw consolidation after recent sharp upside, but closed higher with moderate gains, while the volatility continued to slide, with the India VIX declining by 1.27 percent from 10.82 to 10.68 levels. This morning the cues from global markets are pretty downbeat with Wall Street clocking overnight losses following stronger than expected US economic data. Asian markets too start the day on the back foot with GIFT Nifty hinting at a lower start. Stocks in focus will be Paytm, RIL and TCS among others. Meanwhile, The wait is finally over as Shah Rukh Khan-starrer Jawan hits the theatres. As per trade analysts, Jawan will get box office opening of Rs 100 cr, with Rs 40 cr coming from the overseas market and the remaining Rs 60 cr from the domestic market. Will it weave box office magic? Catch Nandita Khemka in conversation with Kunal Rambhia, Fund Manager for Technical and derivatives, The Streets.
Indian equity benchmarks seem to be in fine fettle after recent consolidation. The Nifty50 is well on its way to reclaim 19,600 mark. Experts say as long as the index holds 19,600, there could be a possibility of a reclaim of 19,800 level. Whereas on the flip side, 19,400-19,300 is likely to provide good support to the index. The market settled higher for third consecutive session with the BSE Sensex rising 152 points to 65,780, while the Nifty50 climbed 46 points to 19,575 trendline. This morning the cues from global markets are largely tepid with Wall Street and Asia under pressure as oil rallies past $90/barrel. GIFT Nifty too hints at a muted start for the Indian market. Stocks in focus will be Jio Financial, Vedanta and NBCC India among others. Jupiter Life Line IPO kicks off today. Catch Nandita Khemka in conversation with Shivangi Sarda, Analyst- Equity Derivatives & Technicals, Broking & Distribution, MOFSL and Feroze Azeez, Deputy CEO, Anand Rathi Private Wealth Management
Indian equity benchmarks extended their northward journey for the second consecutive session with the Nifty50 climbing above the 19,500 mark, tracking positive Asian cues. Experts say if the index sustains above 19,500, then the 19,600-19,650 can be easily seen, with immediate support at 19,400-19,300 levels. The BSE Sensex climbed 241 points to 65,628, while the Nifty50 jumped 94 points to 19,529. The momentum remained strong in the broader markets as the Nifty Midcap 100 and Smallcap 100 indices gained 1 percent and 1.3 percent respectively, backed by positive breadth with 3:2 ratio. The volatility also cooled down further, making bulls more comfortable at Dalal Street. The India VIX, the fear gauge index, fell 3.54 percent to 10.96 from 11.37 levels. This morning the cues from global markets are subdued with Asian markets trending lower and GIFT Nifty hinting at a muted start. Wall Street was shut overnight on account of Labor Day. Stocks in focus will be Cipla, Dr Reddy’s, Gland Pharma and Escorts among others. Meanwhile, shares of Vishnu Prakash R Puglia will list on the exchanges today. Metal stocks have clocked sparkling gains over the last few trading sessions, is it a good time to buy? Catch Nandita Khemka in conversation with Sacchitanand Uttekar, Vice president – Research (Derivatives and Technicals) at TradeBulls Securities; and Aditya Welekar, Senior Research Analyst – Auto and Metals at Axis Securities.
The Nifty50 attempted to move towards 19,400 in the initial hour of trade but took a U-turn and traded lower for a major part of the session amid volatility on the expiry day for August derivative contracts. The index has managed to take a support at 19,250 on closing basis for fifth time in current month, hence a break below 19,250-19,200 area can drag the index towards 19,100-19,000 levels, whereas on the higher side, it may continue to face resistance at 19,400-19,500 levels, according to experts. This morning, global cues are once again mixed with key indices on Wall Street ending mixed. The Nasdaq has clocked its worst month for 2023 while Asian markets are edging higher after positive Chinese economic data. The GIFT Nifty is hinting at a lower start for the Indian markets. Meanwhile Q1 GDP growth came in at 7.8%, a four-quarter high driven by the services sector. Autos will be in focus as August sales figures will start trickling in today. Also in focus will be stocks like Five Star Business Finance, Medplus, Genus Power among others. Catch Nandita Khemka in conversation with Nilesh Jain, Head AVP- Derivative and Technical Research, Centrum Broking and Siddhartha Khemka, Head of Retail Research, Broking & Distribution, MOFSL.
Indian equity benchmarks shaved off all the intra-day gains amid late-hour profit booking. Both the Nifty and Sensex ended flat with a positive bias ahead of expiry of August month futures & options contracts. The Nifty failed to hold the crucial 19,400-19,500 hurdle and has taken a support at 19,300, hence in the coming sessions, the index is expected to face resistance at similar range, with support at 19,300-19,200 levels, experts said. The BSE Sensex rose 11 points to 65,087, while the Nifty50 gained 5 points at 19,348. We continued to see strong interest in the broader markets on positive breadth. The Nifty Midcap 100 and Smallcap 100 indices gained 0.7 percent and 1 percent respectively, while the India VIX, the fear index, dropped below 12 levels, down by 3.47 percent to 11.80 levels. This morning the global cues are mixed with Wall Street clocking a 4-day winning streak amid rate pause bets. However, Asia is trading mixed with the GIFT Nifty hinting at a muted start for the Nifty. All eyes will be on the Q1 GDP data due later today. Lots of stocks in focus including Sula Vineyard, Natco Pharma, Zomato and Spandana Sphoorty. Ashish Kacholia-backed Aeroflex Industries is set to make its debut on the bourses today. Catch Nandita Khemka in conversation with Siddarth Bhamre - EVP, Head of Research, Religare Broking and Shrikant Chouhan, Head of Equity Research – Retail, Kotak Securities.
Indian equity benchmarks gained for a second consecutive session amid volatility in expiry week. The Nifty continued to face strong resistance at 19,350-19,400 area. Experts say a breakout above this zone decisively can lift the index towards 19,500-19,600 levels, whereas the support is expected to remain at 19,250 levels. The BSE Sensex rose 79 points to 65,076, while the Nifty50 climbed 37 points to 19,343. This morning the global cues are very positive with Wall Street clocking a third straight day of gains. The Nvidia fuelled rally sparked a near 2% upmove on Nasdaq. Meanwhile, Asian markets are in fine fettle with Nikkei and Kospi gaining in early trade and the GIFT Nifty hinting at a start above 19,400 for the Nifty. Lots of stocks in focus including Zomato, Lupin and Ami Organics. Meanwhile OMCs will also be in focus after Govt cuts LPG price by Rs 200/cylinder in major relief for consumers ahead of festive season. The IPO of energy efficiency solutions company Rishabh Instruments is the first from the mainboard segment opening for subscription this week. The bidding for the offer starts today, August 30. The book-built issue will close on September 1. The price band for the maiden public issue has been fixed at Rs 418-441 per share. Catch Nandita Khemka in conversation with Aamar Deo Singh, Sr Vice President, Angelone and Ashish Shanker – Managing Director & CEO – Motilal Oswal Private Wealth
Indian equity benchmarks saw a nice rebound amid consolidation, after a two-day correction. However, experts are not convinced about the bounceback and expect markets to remain rangebound, unless the Nifty50 breaches 19,400 levels. 19,200-19,300 is expected to be a support area in the near term. The broader markets fared better than benchmarks as the market breadth remained positive. The Nifty Midcap 100 and Smallcap 100 indices gained half a percent and seven-tenth of a percent respectively, while the volatility index jumped to a three-month high. This morning the global cues are positive with Wall Street clocking in modest gains in overnight session and Asian market upbeat in early trade. The GIFT Nifty, too, signals a higher start for the Indian markets. Lots of stocks in focus including Zomato, Sun Pharma, HFCL and Bayer CropScience. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, Vice president- Research (Derivatives And Technicals), TradeBulls Securities. Also catch Ram Subramanian, Executive Director, Union Bank of India as he explains the rationale behind the bank’s Rs 5,000 crore fund raise via QIP, first on Moneycontrol!
Indian equity benchmarks clocked a fifth consecutive week of losses, with both the Nifty and Sensex ending at a two-month low on Friday. The market after negative opening remained volatile throughout session and closed six-tenth of a percent lower, continuing downtrend for second consecutive sessions. The Nifty has managed to take support at around 19,230-19,250 area on closing basis, which also coincides with previous month's low. The BSE Sensex declined 366 points to 64,887, while the Nifty50 fell 121 points to 19,266. Experts say that if the index decisively falls below 19,240, it could potentially lead the Nifty towards the 19,000 mark . This week there will be a lot of data points to digest including the Q1 GDP figures, US Q2 GDP among others. Meanwhile, markets will react to US Fed chair Jerome Powell’s Jackson Hole speech where he reiterated that the fight against inflation still has a long way to go and has left the door open for further rate hikes. However, he added that the central bank will tread ‘carefully’ on further rate increases. Meanwhile, all eyes will on RIL’s 46th AGM where the company is expected to announce plans for value unlocking in the telecom and retail divisions of RIL. After the listing of Jio Financial, analysts and investors expect the conglomerate to provide some colour on the areas it wishes to venture into as a non-banking financial company. Catch Nandita Khemka in conversation with Mark Matthews, Bank Julius Baer and Rajesh Palviya, Axis Securities
Indian equity benchmarks are likely to stay in the range of 19,250-19,600 in coming sessions, as an attempt at a rally fizzled out due to strong bear attack. The index lost nearly 200 points from day's high and closed lower by 57 points at 19,387. Experts say a new leg of rally is possible only if the index successfully manages to close above the 19,500 mark in coming sessions. Overnight on Wall Street, stocks fell sharply after a tech rally, sparked by stronger-than-expected Nvidia results, was short-lived. All eyes will be on US fed chair Jerome Powell’s Jackson Hole speech that will provide further clues to the US central bank’s future rate trajectory. Asian markets are also drifting lower with the GIFT Nifty hinting at a start below the 19,300 mark. Stocks in focus will be Paytm, Coforge, Kaynes Tech among others. Also, should you invest in multi-asset funds to beat the market volatility and ensure inflation-beating returns? Catch Nandita Khemka in conversation with Deepak Ramaraju, Senior Fund Manager, Shriram Asset Management Company and Raja Venkatraman, Co-founder, Neotrader.
Indian equity benchmarks are poised for a higher open. The GIFT Nifty is hinting at a start above the 19,500 mark for the Nifty. Overnight, Wall Street saw a positive close with the NASDAQ clocking a three-day gaining streak. After hours, Nvidia reported a blowout quarterly performance. Stocks in focus will be Reliance Industries as Qatar Investment Authority (QIA) will invest over Rs 8,200 crore in Reliance Retail, valuing it at over $100 billion; and Coforge, as reports suggest promoters may exit stake via a block deal. We also put the spotlight on defence stocks as they aim for the moon! Catch Nandita Khemka in conversation with Kush Bohra, Founder, kushbohra.com; and Amit Kumar Gupta, Founder & CIO of Fintrekk Capital. Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Indian equity benchmarks closed flat after a volatile session yesterday, and this was despite a rally in global peers. Broadly, the Nifty50 has been in the range of around 200-250 points since August 14 with resistance at 19,450-19,500 area and the crucial support at 19,300-19,250 levels. Experts expect the benchmark index to remain within this range and advise investors to continue selling on rallies as long as the index remains below 19,500 mark. The BSE Sensex was up just 4 points at 65,220, while the Nifty50 rose 3 points to 19,397. Overnight on Wall Street key indices end mixed with the Nasdaq notching slim gains. Financial stocks come under pressure as S&P downgrades multiple U.S. banks on growing liquidity worries. Asian markets kickstart the day on a mixed note with GIFT Nifty hinting at a lower start for the Indian indices. Stocks that will be in focus today include Brightcom after the SEBI order barring officials from holding directorial positions, Vodafone Idea and BEML among others. Meanwhile, TVS Supply Chain makes its debut on the bourses today. Catch Nandita Khemka in conversation with Vinay Rajani, CMT (Senior Technical & Derivative Analyst) at HDFC Securities and Sanjiv Bhasin, Director, IIFL
The Indian equity market had a good start to the week with the Nifty50 clocking a smart rebound and shutting shop around the 19,400 mark. 19,300-19,250 levels is expected to remain a crucial support zone going ahead. Experts say a 20-day EMA which is placed near 19,500 is likely to be a critical hurdle for a move towards 19,650 in coming sessions. The Nifty50, after two days of correction, rose 83 points to 19,394, and formed a bullish candlestick pattern on the daily scale, while the BSE Sensex climbed 267 points to 65,216. Overnight, on Wall Street the US 10-year yields are at 16-year highs and this morning Gift Nifty is indicating a negative start for the Indian market. Stocks that will be in focus today include Adani Enterprises, Tata Power, Union Bank and Lemon Tree among others. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, Vice president- Research (Derivatives And Technicals) At TradeBulls Securities and Independent market analyst, Anand Tandon.
Indian equity market clocked a fourth consecutive week of losses with benchmark indices losing six-tenth of a percent for week ended August 18. The benchmark Nifty50 index is now 3.4% off from the record highs of July 20. Disappointing industrial production for June, higher-than-expected spike in CPI inflation, fears of likely another rate hike by Fed given the strong retail sales data, currency depreciation against US dollar, rising US bond yields putting pressure on FII flow, and slowing China’s economy weighed on market sentiment. Experts believe the consolidation may continue largely with negative bias in the coming week too, with focus on Powell's speech, MPC minutes, FII flows and global equity markets action. On Friday Wall Street saw a mixed close with the Nasdaq ending lower for a fourth straight session notching its longest weekly losing streak since December. This morning Asian markets are trading mixed after The People’s Bank of China cut its one-year loan prime rate by a smaller-than-expected margin, while five-year rates were left unchanged as the country grapples with slowing economic activity. GIFT Nifty is hinting at another weak open for the Indian market. Jio Financial Services makes its stock market debut today. Shareholders of Reliance Industries were granted a single equity share of Jio Financial Services for every individual share they owned as of July 20. JFS, which is currently a part of the benchmark Nifty50 and Sensex, will move out from both the indices three days after its listing. According to Nuvama Alternative & Quantitative Research, the exclusion will happen on August 24. FTSE Russell, which had earlier planned to remove Jio Financial from its indices, announced on Friday that the stock will remain in all four of the indices that it is currently a part of. Lots of other stocks to watch out for today including Titan & M&M among others. Catch Nandita Khemka in conversation with Rajesh Palviya, Senior Vice President Research - Head Technical & Derivatives at Axis Securities and Ajay Srivastava, CEO, Dimensions Corporate Finance Services
Nifty50 failed to defend the 19,400 mark amid weak global cues. But the broader markets fared better than benchmarks as the Nifty Midcap 100 and Smallcap 100 indices gained 0.25 percent and 0.14 percent respectively. Going ahead, the benchmark index is still expected to be rangebound and according to experts a breakout of the 19,250-19,500 range on either side can give clear direction. In the currency market, the rupee fell to a record low against the dollar. On Wall Street overnight, major indices post third straight losing day with the Dow closing below the 50-day moving average for the first time since June 1. Asian markets are trading lower as China’s Evergrande files for bankruptcy in US and the GIFT Nifty is hinting at further weakness for the Indian market. Lots of stocks to watch out for today including Bata, PNB, Nykaa, LTIMindtree. Catch Nandita Khemka in conversation with Preeyam Tolia, Senior Research Analyst - FMCG, Axis Securities and Raja Venkatraman, Co-founder, Neotrader.
Nifty once again took support at 19,300 levels and rebounded in late trade to end above the 19,450 mark. Experts believe 19,300-19,250 is expected to be crucial support area for the Nifty50 in coming sessions, whereas the 19,550, which coincides with falling resistance trendline, is likely to play a key role for upward journey and if the said levels get sustained, a sharp rally can't be ruled out. Till then, the volatility and consolidation are likely to persist in the market. Meanwhile, Wall Street slips for a second day after minutes of the Fed’s July meeting indicate that future rate hikes are not out of the picture. The Nasdaq slips over a percent overnight while US futures too tick lower. Asian markets kickstart the day on the backfoot with the GIFT Nifty hinting at a lower start for the Indian market. Lots of stocks to watch out for today including Adani Power, JBM Auto, Essar Shipping & Paytm. Catch Nandita Khemka in conversation with Nirav Chheda, AVP-Derivatives & Technical Research, Nirmal Bang and Hemant Shah, Fund Manager, Seven Islands PMS.
Nifty50 staged an impressive recovery in the last-hour of trade on Monday to recoup the day’s losses and shut shop in the green. Experts say technical indicators are pointing to a possible bounce in the coming sessions. The index rose 177 points from the day's low and closed at 19,435, up six points. The GIFT Nifty hints at a weak start below the 19,400 mark after the Independence day holiday. On Wall Street, all three of the major indices finished more than 1% lower. With the losses, the Dow has snapped a three-day winning streak. Meanwhile, the S&P 500 ended the session below its 50-day moving average, which could signal a downturn ahead. Financial stocks including JPMorgan, Wells Fargo and Bank of America slid after Fitch warned it may be forced to downgrade the credit ratings of dozens of banks. It comes as the latest challenges to the sector, following Moody’s decision last week to downgrade the ratings of 10 banks while putting other institutions on a watchlist. Lots of stocks to watch out for today including ITC, Infosys, Vodafone Idea, IndiGo among others. Meanwhile, SBFC Finance makes its debut on the bourses today. Share are likely to debut with a 35-40% premium over its issue price of Rs 57 per share, against the 70 percent premium that was expected earlier. If the strong IPO subscription numbers and robust business model with stable asset quality were the factors behind the bullishness till last week, experts say the correction in equity markets is the main reason for this shift. Catch Nandita Khemka in conversation with Deepak Agrawal CIO - Debt, Kotak Mutual Fund and Aamar Deo Singh, Sr Vice President at Angelone.
Amidst the ongoing consolidation in the market, benchmark indices are likely to see further correction, which could be be taken as a healthy sign in a bullish market. As far as kep levels are concern on the technical charts Nifty the immediate support is placed around 19,380-19,350 while the immediate resistance can be seen around 19,500-19,600 zone. The broader markets also corrected, but less than benchmarks.So will indices continues their southward journey? Among key earnings to watch out for, ITC , Divi's Lab
Nifty50 has managed to defend 19,500 but faced strong resistance at around 19,650 level, which is a crucial level to watch out for in coming sessions, as breaking decisively on either side on closing basis can give clear direction to the market. The index remained within previous day's range yesterday and finally closed 89 points lower at 19,543 after the MPC raised its full-year inflation forecast to 5.4% and announced incremental CRR of 10% for banks, while retaining repo rate at 6.5%. The index has been struggling to defend the 20-day moving average which is placed in the zone of 19630 – 19670. Wall street ended higher after softer than anticipated July CPI print. The Gift Nifty is hinting at a mildly positive start for the Indian market. Lots of stocks to watch out for today including Her Moto as it clocks a fourth straight quarter of margin expansion. Also in Focus will be HCL Tech, ONGC, Apollo Tyres, Nykaa and Mazagon Dock. Catch Nandita Khemka in conversation with Ajay Bagga, Market Expert and Raja Venkatraman, Co-founder - Neotrader and Trading Influencer.
Nifty50 closed above the crucial 19,600 mark amid a late-hour bounceback ahead of the outcome of Monetary Policy Committee meeting. Experts say the recovery raised hopes for further rally if the index manages closing above the range of 19,650-19,700 and sustains these levels in coming sessions, whereas the crucial support remains in the range of 19,500-19,300 levels. This morning the GIFT Nifty is hinting at an open below the 19,600 mark amid weak cues from global markets. Wall Street extended its slide overnight with the Nasdaq falling over a percent ahead of the July US consumer price index data. Asian markets are largely mixed this morning. Lots of stocks in focus this morning including Zee, Suzlon, IRCTC and BSE. Hero Moto and LIC will report Q1 earnings today. Meanwhile, all eyes will be on MPC meet outcome. The RBI is likely to hold interest rates steady and keep stance unchanged but all eyes will be on inflation forecast amid soaring tomato prices. Catch Nandita Khemka in conversation with Latha Venkatesh, CNBC-TV18 and Osho Krishan, Sr Analyst-Technical & Derivative Research, Angel One.
Nifty50 continues to consolidate amid volatility as investors await the outcome of the three-day Reserve Bank of India Monetary Committee Policy (RBI MPC) meeting that started off yesterday. The index has gradually been moving towards 19,650-19,700 area, which is crucial for further upside. Experts say unless and until the index gives a strong close above these levels, the uptrend towards 19,800-20,000 is unlikely and till then the range bound action can continue with crucial support around 19,500-19,300 levels. This morning on August 9, the GIFT Nifty is hinting at a muted start for the Indian markets. Global cues are mostly negative with Wall Street clocking overnight losses after Moody’s downgraded 10 United States’ banks. The European markets also ended lower after a surprise windfall tax announcement. China’s consumer and producer prices both declined in July from a year ago, a sign of deflation pressure as demand in the world’s second-largest economy weakens. Lots of stocks in focus this morning including Coal India, Siemens, ICICI Lombard and Adani Enterprises, among others. Pharma has made a strong comeback after underperforming in the first half of the year. The index has hit a fresh 52-week high and stocks such as Cipla have been hitting fresh highs. Is this the time to dive into stocks like Gland Pharma after strong performance in the first quarter? Catch Nandita Khemka in conversation with Nithya Balasubramanian, Director, Healthcare Research at Sanford Bernstein; and Hemen Kapadia, Senior Vice President, Institutional Equity, at KR Choksey Shares & Securities.
Nifty50 extends its upward journey for second consecutive session and decisively ended above the 20-day EMA of 19,547 on August 7. Experts say the index now needs to give a decisive close above 19,700 for further rally towards 19,800-19,900. Meanwhile, 19,500-19,300 band is expected to be crucial support area for the benchmark index. Foreign Portfolio Investors (FPIs) have been net sellers in the Indian equity market for seven straight sessions. Will they turn buyers anytime soon? It promises to be a volatile week as investors will be watching out for the Reserve Bank of India’s Monetary Policy Committee (RBI MPC) meet outcome on Thursday, August 10. RBI’s rate-setting committee will kick off its three-day policy meet today. A long pause is already factored in but all eyes will be on Governor Shaktikanta Das’ comments on inflation amid surging food inflation, thanks to a spike in tomato prices. Lots of stocks in focus this morning including HDFC Bank, Godrej Consumer, PB Fintech and Inox Wind. Among key Nifty earnings today watch out for Hindalco and Coal India. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, Vice President – Research (Derivatives and Technicals) at TradeBulls Securities; and Kranthi Bathini – Equity Strategist at WealthMills Securities.
Indian market bounced back on Friday with the Nifty reclaiming the 19,500 mark on Friday. The rebound was a much needed relief after the recent correction, but can the benchmark index hold above this crucial level this week as RBI’s MPC meets this week to decide on interest rates. Experts say unless the Nifty gives a strong close above 19,800, the rangebound action in the index is likely to continue in near term, with crucial support at 19,300-19,100 area. Meanwhile, foreign investors have turned sellers in the first week of August, after Fitch downgraded US credit rating to AA+ from AAA. Lots of stocks in focus this morning including Britannia, Delhivery, Cipla and BHEL. Meanwhile what’s the street verdict on SBI & Bank Of Baroda post their quarterly numbers and what should the strategy be with respect to these banking stocks now? Catch Nandita Khemka in conversation with Rajesh Palviya of Axis Securities and Neha Dave of Moneycontrol Pro.
Indian equity markets saw a selloff for yet another session with the Nifty50 ending below the 19,400 mark on August 3 tracking global weakness. This morning the cues are pretty mixed with Wall Street ending lower and oil back near the $85 mark. Among key corporate earnings on Wall Street, Amazon beat estimates while Apple lost around 2% after the bell as revenue came in lower than it did in the same quarter a year ago. Investors will be watching out for the crucial jobs report due later today. This morning Asia is mixed whhile GIFT Nifty is hinting at a muted start for the Indian markets. On the Nifty, the immediate resistance is around 19,400-19,600 area, but breaking of the said level can break the 50-day EMA (exponential moving average) placed at 19,160. Big day for earnings as SBI, M&M and Britannia hand in their Q1 report card today. Also we take stock of Airtel, Eicher and Zomato Q1 earnings. Catch Nandita Khemka in conversation with Mahantesh Sabarad, Independent Market Analyst and Raja Venkatraman,Co-founder, Neotrader and Trading Influencer.
Indian benchmark indices slumped as much as 1.5 per cent on Wednesday amid a global selloff triggered by Fitch Ratings’ downgrade of US government debt. The Sensex plunged 1,027 points, or 1.5 per cent, in intra-day trade before recouping some of the losses to end the session at 65,783, down 676 points, or 1.02 per cent, from the previous day’s closing. The Nifty50 index, on the other hand, settled 207 points, or 1.1 per cent, lower at 19,526. At one point, the 50-share index was down 300 points, or 1.53 per cent. Wall Street ended in the red last night while Asia is largely in the negative zone this morning. Should we brace for more selloff and is this correction an opportunity in disguise? Also stocks in focus today will be Titan, IndiGo, HPCL, Airtel, Sun Pharma among others. Meanwhile, SBFC Finance IPO kicks off for subscription today. Catch Nandita Khemka in conversation with Aamar Deo Singh, Senior Vice President, Angelone and market expert Hemang Jani.