GAGA Share Market News

[hfe_template id='11223'] [ad_1] Technical charts suggest the short-term trend of Nifty is likely to be range-bound with a weak bias. A move below the immediate support of 23,250 could indicate the beginning of a shortterm downward correction, according to technical analysts. For short-term trading, analysts recommend stocks such as SBI, IDFC First Bank, Granules, Infosys, HCL Tech, M&M Financial, PVR Inox, Max Financial, Tata Steel, and SAIL. SAMEET CHAVAN, HEAD RESEARCH TECHNICAL & DERIVATIVES, ANGEL ONE Where is Nifty headed this week? The small-bodied candle formations suggest that the bulls may be reaching their limit and could be waiting for an external trigger to continue their momentum. As the Nifty ventures into uncharted territory, it becomes challenging to identify the intermediate resistance. However, with the recent developments, 23,650-23,700 seem to pose a significant challenge, and a decisive closure could potentially trigger the next leg of the i...

[hfe_template id='11223'] [ad_1] New Delhi, Shareholders and non-convertible debenture (NCD) holders of IDFC First Bank have approved a proposal to merge parent IDFC Ltd with the lender. The National Company Law Tribunal (NCLT) convened a meeting on May 17 through video conferencing and other audio-visual means to consider and approve the composite scheme of amalgamation for IDFC First Bank, the bank said in a regulatory filing. The board of the bank presented the result of voting on the proposal for amalgamation before the NCLT. "We wish to inform that the resolution approving the Scheme was passed by the overwhelming majority of 99.95 per cent of the equity shareholders, representing more than three-fourths in value of the equity shareholders of the bank voting through remote e-voting and e-voting during the meeting, in terms of the provisions of Sections 230-232 of the Companies Act, 2013," the lender said. In a separate filing, it said the proposal was pass...

[hfe_template id='11223'] [ad_1] Indian headline indices returned to their winning ways after a one-day hiatus, led by strong buying action in banks. While the S&P BSE Sensex rallied 990 points to hit the day's high of 74,721.15, the broader Nifty50 climbed by over 230 points to hit 22,655 mark. Finally, the Sensex on Monday settled at 74,671.28, up 941.12 points or 1.28%, while Nifty 50 closed at 22,643.40, gaining 223.45 or 1%. Volatility remained high as India VIX closed at 12.24%, gaining 12% over Friday’s closing. Here are a few factors that led to the surge in Nifty and Sensex: 1) Banks and financials shine Banking stocks which corner the highest weight in the 50-stock Nifty were trading with strong momentum. ICICI Bank, SBI, HDFC Bank and Kotak Bank were four of the top five index contributors today.The Nifty Bank index hit a fresh lifetime high today, rising 1,200 points. Barring IDFC First Bank and Bandhan Bank, the remaining 10 counters in Nifty Bank we...

[hfe_template id='11223'] [ad_1] Equity markets rallied last week mainly due to relief from the middle-east tensions coupled with a correction in oil prices. In today's trade shares of ICICI Securities, ICICI Bank, YES Bank, Ultratech Cement, HCL Tech will be in focus due to various earnings and news developments. ICICI Securities Minority shareholders of ICICI Securities led by Bengaluru-based investment manager Manu Rishi Guptha have filed a class action suit with National Company Law Tribunal (NCLT) against ICICI Bank's bid to delist its broking arm from the Indian bourses. YES Bank Yes Bank reported a standalone net profit of Rs 452 crore for the quarter ended March 2024, which jumped 123% year-on-year. Read more: Here's the trade setup for today's session ICICI Bank ICICI Bank reported a standalone net profit of Rs 10,707 crore for the quarter ended March 2024, which was up by 17.38% year-on-year. UltraTech Cement, Trent, UCO Bank Shares of UltraTech...