Analysis Financial News

Marico Ltd. gained 0.04 per cent to Rs 696.15 in Thursday's trade as of 01:24PM (IST). The stock hit a high price of Rs 702.2 and low of Rs 689.85 during the session.

«So, in terms of percentage, the support is closer for Indus Tower and the stock may see some bit of cooling off, consolidation happen around the 360 mark. But speaking of Vodafone Idea, clearly below the 12 level, we expect more weakness to continue in the same,» says Rahul Sharma, JM Financial Services. What is your take coming in on both of these counters, Vodafone Idea and Indus Towers? While when you talk about the news flow, you thought things were getting better for Vodafone Idea. There was some scope of revival but that is definitely not how it is playing right now given the fact the Supreme Court order is negative and will have a negative impact. Rahul Sharma: Yes, so speaking technically the stock has broken its crucial support area of 12.5, 12 and it has been like a nosedive for the stock of sorts in today's session. Now what that opens up is a room for more downside and the next psychological level that we can see is at around 10. But technically speaking the crucial support is coming in around Rs 9, so that is another 20% down move that can happen especially the way the sell-off has been there today. Now speaking of Indus Tower which has been relatively doing well, this has also sort of broken down from its short-term moving averages and the meaningful support for this one is placed around the 355-360 mark.

Varun Beverages Ltd. traded at Rs 642.2 on BSE at 11:21AM (IST) on Thursday, down 0.65 per cent from previous close. The scrip quoted a 52-week low price of Rs 331.28 and a high of Rs 682.84.

Bajaj Housing Finance ended its two-day rally as its stock encountered selling pressure, declining 11% in the last 2 days to a low of Rs 161 on BSE. IPO investors who got the allotment of the issue, however, are still sitting on gains of 130%.

Sunteck Realty Ltd.(up 3.0 per cent), Mahindra Lifespace Developers Ltd.(up 1.33 per cent), Phoenix Mills Ltd.(up 0.9 per cent) and Prestige Estates Projects Ltd.(up 0.59 per cent) were among the top gainers.

Godrej Consumer Products Ltd. traded at Rs 1453.3 on BSE at 11:16AM (IST) on Thursday, up 1.4 per cent. The stock quoted a 52-week low price of Rs 959.55 and a high of Rs 1541.3. Earlier in the day, the stock saw a gap up opening.

Reliance Power surged 5% to a day’s high of Rs 34.62, while shares of Reliance Infrastructure advanced 7.5% to Rs 304 on the BSE on Thursday. This upward rally follows their resolution of past debts and obligations.

Bank of Baroda traded at Rs 235.15 on BSE at 11:11AM (IST) on Thursday, down 1.09 per cent. The stock quoted a 52-week low price of Rs 187.95 and a high of Rs 298.45. Earlier in the day, the stock saw a gap up opening.

PI Industries with a target price of Rs 4980. The current market price of PI Industries Ltd. is Rs 4691.85. PI Industries Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 70623.27 Crore) operating in Pesticides/Agro Chemicals sector.

Jerome Powell delivered exactly what traders up and down Wall Street had long hoped for: A big interest-rate cut that would justify this year’s steep rally in stocks and bonds as the era of tight monetary policy finally began to reverse. Equities, especially those of economically sensitive companies, briefly surged Wednesday, driving the S&P 500 up as much as 1%. Ditto bonds, while the prospect of easy money ahead initially pushed up speculative assets like crypto.

US interest-rate cuts after the Federal Reserve reduced its benchmark by half a point and signaled more cuts coming this year. The market is now pricing in another 70 basis points worth of rate reductions at the Fed’s two remaining meetings this year, reflecting a far more aggressive stance than policymakers. Officials on Wednesday forecast just a half-point of further easing in 2024, though Chair Jerome Powell made clear that Wednesday’s decision wasn’t indicative of the pace ahead for cuts.

Fed policy outcome, the Nifty experienced significant volatility. In the first half, it rose towards the 25,500 levels; however, in the second half, it surrendered all gains and fell below the 25,300 levels. Nonetheless, it managed to recover half of its losses and closed near the 25,350 levels. “So, technically, the range is 25,200 to 25,500, and it is currently exactly in the middle of that range. From a derivatives point of view, there is the highest open interest (OI) on the call front at the 25,500 strike, whereas the put side shows the highest OI at the 25,000 strike, indicating a range of 25,000 to 25,500 levels,” said Jay Thakkar, Vice President and Head of Derivatives and Quant Research at ICICI Securities.

Brokerage firms Morgan Stanley and BofA have initiated coverage on Brainbees Solutions with an overweight and buy rating respectively. Emkay Global has upgraded Tata Motors to a ‘buy’ from ‘add’ while Citi has maintained a buy rating on Exide while cutting the target price of the stock. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

U.S. stocks closed with modest losses on Wednesday, well off their intraday highs, after the Federal Reserve cut interest rates by 50 basis points, the high side of estimates for its first cut in more than four years. Trading was choppy. Prior to the Fed announcement, the S&P 500 oscillated between modest gains and losses. The benchmark index rose as much as 1% after the announcement before paring gains and finally closing lower. The Dow and S&P 500 hit intraday highs before weakening.

Whether you’re frying, grilling, or simmering, a ductless chimney helps maintain a fresh and comfortable environment. In this article, we’ll explore some of the best ductless chimneys available, highlighting their features, performance, and how they can enhance your kitchen’s functionality and aesthetics.

Policymakers voted 11-to-1 in favor of lowering the US central bank's benchmark lending rate to between 4.75 percent and 5.00 percent, the Fed announced in a statement.

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Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...

Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...

NTPC Green Energy filed draft papers for a Rs 10,000 crore ($1.19 billion) initial public offering on Wednesday, as it looks to cash in on the country's renewables ramp-up plans and a red-hot equities market. The company, a unit of power producer NTPC, will only issue new shares, and existing shareholders will not sell any stake, the draft papers showed.