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[hfe_template id='11223'] [ad_1] Indian equity indices opened in the red on Friday, snapping a four-session gaining streak, dragged by IT stocks amid concerns over discretionary spending in the U.S. The BSE Sensex was down 114 points, or 0.15%, at 76,234, while the Nifty50 slipped 14 points, or 0.06%, to 23,176 around 9:19 am. The Nifty IT index dropped over 2% after global IT consultancy firm Accenture warned of reduced discretionary spending. Accenture shares fell 7.3% overnight. Among Sensex stocks, Infosys, TCS, HCL Tech, Zomato, and Tech Mahindra were the top laggards, falling up to 2.3%. On the other hand, Bajaj Finance, Nestle India, Sun Pharma, Power Grid, and NTPC opened with gains. Live Events In individual stocks, Ola Electric Mobility surged 5% in early trade after the company attributed discrepancies in its February sales data to a temporary backlog caused by ongoing negotiations with vehicle registration vendors. Meanwhile, the FTSE March semi-annual review...

[hfe_template id='11223'] [ad_1] Indian stock markets are trying to inch back to life, fueled by a double dose of macro relief: a sliding US dollar and plunging crude oil prices. The past few days have seen a relief rally take hold, with bullish sentiment returning as the dollar index retreats and oil prices drop below $70 a barrel. Sensex is up around 1,000 points in the last two days, but the broader market, which had slipped into bear territory, is rallying even sharper, with the BSE Smallcap index rising 5.6% in three days. The US dollar index has tumbled to 104.2, giving up a significant portion of its gains since September 2024. Simultaneously, the Indian rupee has strengthened, boosting optimism that foreign institutional investor (FII) selling could soon reverse. Brent crude’s sharp 6.5% drop over the past four sessions—its lowest level since December 2021—provides further tailwinds, as India, a major oil importer, stands to benefit from lower energy costs. A dec...

[hfe_template id='11223'] [ad_1] When the Sensex fell over 1,200 points and Nifty cracked below the 24,200 level in the first half of the day before recovering all the losses later on, investors couldn't help but draw parallels with how today's dateline of Friday the 13th could have proved to be spooky for the stock market. While it's tough to find rationale in the sudden U-turn in the movement of headline indices intra-day as share prices are known to be unpredictable and non-linear just like the footsteps of a drunk man, let's look at how Friday the 13th, considered an unlucky day in Western culture, looks like on Dalal Street. Market data shows that the superstition doesn't hold true in the Indian stock market, as Dalal Street witnessed 41 trading sessions on Friday the 13th. However, Nifty ended in the negative in only 46% (19) of these sessions, according to an analysis by Samco Securities. The average gain across these 41 sessions is 0.35%, sugg...

[hfe_template id='11223'] [ad_1] Indian headline equity indices Sensex and Nifty50 opened marginally higher on Thursday, tracking other global peers, after in-line US inflation data reinforced expectations of a Federal Reserve rate cut next week. The BSE Sensex was trading 116 points, or 0.14%, higher at 81,642. The Nifty50 was up 13 points, or 0.07%, trading at 24,659 around 9:27 am. Other Asian markets also ticked higher, with the MSCI Asia ex-Japan index gaining 0.4%. Meanwhile, most Wall Street equities closed higher overnight after data showed the U.S. consumer price index (CPI) rose 0.3% on a monthly basis and 2.7% on a yearly basis in November. The odds of a 25-basis-point Fed rate cut rose to about 99%, up from 89% a day ago, according to CME FedWatch. The Nifty IT index rose 0.83%, led by 1-2% gains in Tech Mahindra, Persistent Systems, Coforge, and Mphasis. Other major indices, including Nifty Bank and Nifty Financial Services, also opened higher. In contrast,...

[hfe_template id='11223'] [ad_1] A blistering rally in mid-cap stocks is on course to enter correction territory, as investors become increasingly concerned over slowing earnings growth and elevated valuations. The Nifty Midcap 100 tumbled as much as 2.9% Friday, extending its drop from recent high to more than 10% — the parameter for a so-called technical correction. Heavy selling by foreign portfolio managers this month fueled the downturn in the index, which had rallied about 30% through September 23. The rapid change in fortunes for Indian stocks came as a rally in Chinese shares gathered steam, following a central bank stimulus blitz in late September that sparked a frenzy of buying. Slowing earnings growth in India also weighed on sentiment. Bloomberg While foreign investors have soured on local shares, domestic institutions have poured in billions to absorb their selling. Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By...

[hfe_template id='11223'] [ad_1] Indian equity indices, the Sensex and Nifty50, opened higher on Monday ahead of the domestic September inflation data due later in the day, with investors focusing on earnings reports from Reliance Industries and HCL Tech. The BSE Sensex rose 507 points, or 0.62%, to trade at 81,888.15, while the Nifty50 gained 143 points, or 0.57%, to reach 25,107.65 around 9:48 a.m. From the Sensex stocks, JSW Steel, L&T, Tech Mahindra, HDFC Bank, Tech Mahindra, and Infosys opened with gains, while Axis Bank, Bajaj Finance, UltraTech Cement, Titan, and Bharti Airtel opened with cuts. Wipro shares jumped over 3% at the open after the company announced that its board will consider a bonus share issue in its upcoming meeting on October 17. DMart shares plunged over 9% after the company reported a 5.8% year-on-year (YoY) rise in net profit for the second quarter, falling short of analysts' expectations. On the sectoral front, the Nifty Bank, Auto, F...

[hfe_template id='11223'] [ad_1] Benchmark Nifty50 opened at a fresh record high for the fourth consecutive session on Monday, driven by gains in IT and financial stocks. This follows data showing that the country’s economic growth outperformed major economies despite a slowdown.The BSE Sensex was up 240 points, or 0.30%, trading at 82,598, while the Nifty50 rose by 75 points, or 0.30%, to 25,310 around 9:20 am. India’s economic growth in the April-June quarter was 6.7% year-on-year (YoY), easing from 7.8% in the previous quarter, but still the world's fastest-growing major economy. Tata Motors shares fell 1.5% in early trading after the company reported an 8% drop in domestic vehicle sales for August. In contrast, Maruti Suzuki shares edged up 0.5% despite a nearly 4% decline in sales. Meanwhile, TVS Motor shares rose by 1% following a 13% increase in domestic two-wheeler sales for August, while Hero MotoCorp shares jumped over 3% after reporting a nearly 5% rise in...

[hfe_template id='11223'] [ad_1] "We see the risk of an imminent 5-10% correction in the headline indices, with bigger drawdowns in small and midcap stocks. Nifty valuations are stretched at 21.4x 1YF PER, and a positive budget is now in the price. There are no additional positive catalysts, as we expect a tepid 1QFY25 earnings season with rate cuts coming only at end-CY24," Seshadri Sen, Head Of Research, Emkay Global, said in a note to investors. He said a sell-off is likely to be led by Industrials (high valuations) and financials (most liquid), but durables like autos are vulnerable too. "The best places to hide are staples, energy, and technology, in that order. We remain constructive on India from a longer-term (>1 year) perspective, and would use a meaningful correction to increase exposure to the market," Sen said. In the Union Budget, which will be presented in the Parliament on Tuesday, Nirmala Sitharaman is widely expected to tread the p...