Indian market is likely to consolidate on Tuesday tracking mixed global cues. Foreign institutional investors (FIIs) sold to the tune of Rs 4680.51 cr while domestic institutional investors (DIIs) bought to the tune of 4477.73 cr on Monday. FIIs’ long-short ratio for index futures is at 51.45 as on a net basis, they sold 7222 … Read more
Benchmark indices climbed on Wednesday after positive macro data. The 30-share Sensex climbed 526 points to settle at 72,996 and the broader Nifty recovered 118 points to close at 22,123. Stocks that were in focus include names like Maruti Suzuki, which rose 2.53%, HDFC AMC, which declined 0.36%, and Adani Power, whose shares fell 1.63% … Read more
Shares of multibagger HDFC Asset Management Company (AMC) have been downgraded by Kotak Institutional Equities despite growth tailwinds remaining the strongest. The company’s outperformance over its peers is fully priced in at the current valuations, Kotak said in a note as it slashed the stock’s fair value to Rs 3,750, a 1.5% climbdown from Tuesday’s … Read more
India’s largest domestic institutional investor LIC’s holding in India Inc declined to all-time low of 3.64% in the December quarter as the giant likely used the bull market to book profits. Shareholding pattern data reveals that LIC reduced stake in at least 19 smallcaps with market capitalisation of less than Rs 10,000 crore. Following a … Read more
Benchmark indices surged to their fresh all-time highs on Friday, driven by a sharp rally in IT stocks. The 30-share Sensex jumped 999 points to reach a new record of 72,721 and the Nifty climbed 281 points to reach its fresh record peak of 21,928. Stocks that were in focus included names like Tata Consumer, … Read more
Brokerage firm Morgan Stanley maintained an overweight rating on Tata Motors, and Jefferies maintained a buy rating on Nippon AMC and HDFC AMC. Jefferies upgrades Mindspace REIT to a buy rating from hold earlier. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: JPMorgan on Tata Motors: Overweight| … Read more
Shriram Finance holds a strong chance to replace UPL in Nifty when the next review of the index happens in March 2024, according to estimates by Nuvama. The brokerage also sees a medium to high probability of Canara Bank replacing Bandhan Bank in the Nifty Bank index. Shriram Finance, which has a market cap of … Read more
Indian market is likely to trade higher on Wednesday tracking positive global cues. The Nifty50 closed above 20,800 levels on Tuesday. Nifty future closed positive with gains of 0.74% at 20953 levels. Positive setup was seen in stocks like Adani Enterprises, Adani Ports, ACC, Ambuja Cements, Power Grid, NTPC, MCX, JK Cement, HDFC AMC, Trent, … Read more
The Indian market opened flat on Monday tracking muted global cues. India VIX was up by 1.55% from 11.64 to 11.83 levels on Friday. Volatility was slightly higher but overall bulls were holding the grip at support zones. The Fin Nifty Index opened a gap-down by more than 200 points on the back of RBI’s … Read more
Equity index Sensex rallied on Friday, logging its best single day in two months, while Nifty closed above the 19,400 level following strong domestic macro data and global cues. Stocks that were in focus included names like MTAR Technologies, which rose 10.01%, BHEL, which gained 11.75%, and HDFC AMC, whose shares declined 3.42% on Friday. … Read more