EQUITY MARKETS
Ahead of Market: 10 things that will decide stock action on Friday
India's benchmark indices Sensex and Nifty50 hit new record highs, driven by gains in financial and IT stocks, and Reliance Industries' plans to accelerate AI adoption and issue bonus shares. Analysts expect Nifty to continue its upward momentum towards 25,250, with crucial support at 25,000.
Trading of Tata Motors DVR shares to stop from August 30
Tata Motors announced that the trading of its differential voting rights (DVR) shares will cease after market hours on August 29, 2024, due to their conversion into ordinary shares. For every 10 DVR shares, investors will receive 7 ordinary shares. The swap, with a record date set for September 1, follows NCLT approval.
Ahead of Market: 10 things that will decide stock action on Wednesday
Indian equity markets ended flat on Tuesday. Analysts noted that profit-taking at highs and technical indicators suggest the Nifty could face resistance at 25,200-25,250, with support at 24,960-24,855. The market remains range-bound, with potential for a slight dip or rise depending on movements around 25,000 and 25,100.
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Ashish Kacholia invests in AI-based wealthtech platform
InvestorAi, an AI-based equity investment platform, secured Rs 80 crores in a Series A funding round from Ashish Kacholia and his associates. The investment aims to scale the business and introduce new products. The platform provides stock recommendations through several brokers and has maintained a solid track record of strong investment returns.
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Looking to diversify your portfolio? Be a global citizen & a global investor
The Union Budget 2024 has reformed the tax structure for International Fund of Funds (FoFs) to a 12.5% long-term capital gains tax if sold post 24 months. With assets under International FoFs surging significantly, investors may consider global equities for diversification and reducing market-specific risks.
Ahead of Market: 10 things that will decide stock action on Tuesday
Indian equity markets ended near record highs on Monday, lifted by IT stocks, as the Federal Reserve hinted at impending rate cuts. Analysts observed strong bullish momentum, with support and resistance levels indicating potential for further gains despite some counters showing weakness.
The time has come for a Powell booster
Indian equities could see a boost early this week, inspired by Wall Street's gains after US Federal Reserve chairman Jerome Powell hinted at upcoming interest rate cuts. The potential easing of rates may encourage foreign investments in emerging markets like India, which have seen a cautious approach from investors recently.
FPIs inject Rs 11,366 cr in debt market in Aug; inflow tally crosses Rs 1 lakh cr for 2024
Foreign investors infused Rs 11,366 crore in the Indian debt market so far this month, pushing the net inflow tally in the debt segment to over the Rs 1-lakh-crore mark. Foreign investors' strong buying interest in the Indian debt market can be attributed to India's inclusion in JP Morgan's Emerging Market government bond indices in June this year.
PSU stocks HUDCO, Cochin Shipyard among 13 additions into FTSE All-World index
FTSE announced changes to its All-World Index on Friday, adding 13 Indian stocks, the highest from any country. The new additions include Bank of Maharashtra, Central Bank of India, Cochin Shipyard, Hitachi Energy India, HUDCO, KEI Industries, and Motilal Oswal Financial Services. Additionally, 14 Indian stocks were added to the FTSE Large Cap Index, including Bharat Dynamics and Dixon Technologies.
Jackson Hole history points to Jerome Powell sidestepping market shocks
Markets expect Federal Reserve Chair Jerome Powell to play it safe at the Jackson Hole symposium. Amid high equity volatility and speculation about rate cuts, strategists foresee moderate bond movements and small stock swings. Historically, the event has had minimal market impact.
PSUs' M-cap grows by 4% in 2 years, now comprises 15% of India's total market capitalisation
Public Sector Undertakings (PSUs) in India have seen their market capitalisation rise by 4% over 24 months, and now represent 15% of the market. Despite unchanged earnings metrics, their valuation multiples have expanded significantly. ROE is improving, and substantial capex suggests future growth.
Japan's Nikkei inches higher amid weaker yen, pharma extends rally
Japan's Nikkei share average rose in early trade on Friday, with pharma shares rallying for a second session, although gains were limited due to tech stocks following their U.S. counterparts lower. Export-heavy markets got support from a weaker yen. Market participants await Bank of Japan Governor Kazuo Ueda's and U.S. Federal Reserve Chair Jerome Powell's speeches.
GIFT Nifty signals a muted start for D-Street. Here's the trading setup for today's session
Equity markets inched up slightly on Thursday due to positive global sentiments. Market watchers are anticipating potential interest rate cuts in September. The Nifty showed signs of consolidation, staying above the 24,700 level, but encountering resistance at 24,850. Investors are advised to focus on selective stock-picking.
Ahead of Market: 10 things that will decide stock action on Friday
"On the daily chart, Nifty continues to move towards the upper Bollinger band. Additionally, the index has been sustaining above the critical near-term moving average. Sentiment may continue to favor the bulls as long as it remains above 24,650. On the other hand, the current rise might extend towards 25,000 in the near term," said Rupak De of LKP Securities.
Big movers on D-Street: What should investors do with ICICI Securities, Reliance Power and Nykaa?
The equity indices rose on Wednesday, buoyed by FMCG, consumer durables, and healthcare sectors with strong domestic institutional support. ICICI Securities dropped 7.52%, while Reliance Power climbed 5% and Nykaa soared 9.65%. Analysts suggest focusing on key support and resistance levels for these stocks to harness potential gains.
Asian equities climb ahead of central bank events: Markets wrap
Asian stocks saw a rise as markets anticipated key announcements from the Federal Reserve and Bank of Japan. The MSCI Asia Pacific Index increased by 0.2%, with gains observed in Japan, Australia, and South Korea. Fed minutes suggested a potential rate cut, and China launched an anti-subsidy probe into EU dairy imports, escalating trade tensions.
Ahead of Market: 10 things that will decide stock action on Thursday
Indian equity indices closed higher on Wednesday amid market volatility, supported by gains in Consumer Durables stocks. NSE Nifty 50 and S&P BSE Sensex saw modest increases, while analysts highlighted possible intraday pullbacks.
FPIs turn to the primary market amid soaring valuations in the secondary market
FPIs have turned to the primary market, investing $6.4 billion in Indian equities via IPOs and QIBs up to August 19, 2024, amid high secondary market valuations. They have been net buyers in the primary market for 11 consecutive months but net sellers in the secondary market during seven of the past twelve months.
Ahead of Market: 10 things that will decide stock action on Wednesday
Investors are now focusing on the minutes of the latest Fed policy meeting and Fed Chair Powell's upcoming address later this week, seeking clues on the U.S. rate cut trajectory.
Ahead of Market: 10 things that will decide stock action on Tuesday
Indian equity indices ended Monday with mixed results. Gain in energy and metals stocks balanced by profit booking in financials left the Nifty 50 index slightly up and Sensex nearly unchanged. Analysts forecasted range-bound movement, noting crucial support and resistance levels.
FPIs pull out Rs 21,201 crore from equities in August so far
In August, foreign investors sold Indian shares worth ₹21,201 crore, reversing inflows seen in July and June. The sell-off was influenced by global factors like the unwinding of the Yen carry trade, recession fears, and geopolitical tensions. Additionally, profit-booking after recent market gains contributed to the outflow.
Ahead of Market: 10 things that will decide stock action on Monday
Indian benchmark indices surged over 1.5% on Friday, driven by positive global outlooks and strong U.S. economic data. The NSE Nifty 50 closed 1.65% higher at 24,541.15, and S&P BSE Sensex rose by 1.68% to 80,436.84.
Weekly market trends: Sectors in focus & outlook
Global markets were mixed last week, while Indian markets showed resilience despite bad job data and unchanged RBI rates. During the earnings season, FMCG stocks rallied steadily, and the Pharma sector saw significant gains. The Nifty index remained range-bound but positive, with key levels to watch at 24,250 on the downside and 24,750 as resistance.
Asian equities rally as US recession fears fade: Markets wrap
Asian markets saw gains on Friday after positive US employment and spending data eased recession worries. Japan, Australia, and South Korea benefited from improved US retail sales and lower jobless claims. US stock indices, including the S&P 500, continued their upward trend. Analysts believe this reflects reduced fears of a recession, aided by potential Federal Reserve rate cuts.
Stock Market Holiday: Is the stock market open or closed today for Independence Day?
Stock Market Holiday: On August 15, equity markets were closed due to Independence Day, halting all trading activities. The Multi-Commodity Exchange also remained closed. Market closures are also scheduled for Id-E-Milad and Mahatma Gandhi Jayanti. Softer U.S. producer prices data positively impacted Indian indices amid expectations of an interest rate cut by the Federal Reserve.
Ahead of Market: 10 things that will decide stock action on Wednesday
"On the daily charts, we can observe that Nifty has witnessed a breakdown from the consolidation on the downside. The selling pressure can intensify on the downside. Immediate support stands at 24037 which is the 40-day moving average. A breach below it can take the Nifty down towards 23600. On the upside, 24300 is the immediate hurdle from a short-term perspective," Jatin Gedia of Sharekhan.
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