Experts Financial News

Nifty 50 index closed below the crucial 200-DEMA on Monday, technical indicators present a mixed outlook for the market. The Relative Strength Index (RSI) currently stands at 40.7 — trending downward and indicating bearish momentum. In contrast, the Stochastic RSI showed a bullish crossover, hinting at a potential short-term recovery. This divergence in indicators suggests caution, as the market lacks a clear directional bias. The Nifty faced strong selling pressure throughout the session, struggling to sustain above the immediate resistance level of 24,000. It closed below 23,700 and breached the 200-day Exponential Moving Average (EMA), signalling a bearish trend. If the index fails to hold above current levels, further corrections could lead to the next support levels at 23,270 and 23,000. However, a decisive breakout above 24,000 remains critical to revive bullish momentum, said Mandar Bhojane of Choice Broking.

ICICI Securities on Monday settled a case pertaining to the alleged violation of stock brokers rules with capital markets regulator Sebi, after paying Rs 40.2 lakh towards settlement charges. The order came after ICICI Securities proposed to settle the matter without «admitting or denying the facts and conclusions of law», through a settlement order. «In view of the acceptance of the settlement terms… The adjudication proceedings initiated against applicant (ICICI Securities) vide show cause notice (SCN) dated May 17, 2024 is disposed of in terms of the settlement regulations,» Sebi's adjudicating officer Amit Kapoor said.

Cricket Australia chair Mike Baird and his England counterpart Richard Thompson later this month to discuss the finer points.

Subscribe to enjoy similar stories. At a time when few films have been able to make a splash at the box office, making producers cagey about taking new projects to the floors, a string of unlikely partnerships have taken shape recently between mainstream film studios and independent digital content houses to spice up their entertainment offerings.

ITC Ltd completed today as ITC shares started trading ex-demerger after a special price discovery trading session. While ITC shares fell over 2% following the demerger amid broad-based weakness in the market, analysts are bullish both on ITC as well as ITC Hotel shares in the long run following completion of the value unlocking deal for 36 lakh shareholders. ITC share price got adjusted by Rs 26 on NSE and by Rs 27 on BSE in the special call auction session from 9 am to 10 am in which no trading was allowed.

Mercedes-Benz on Monday said Emrah Ozer has been appointed as its Chief Financial Officer for its Indian operations as part of an organisational change in its finance and controlling function effective since January 1, 2025. Ozer, currently associated as a Member of the Board of Management and Head of Finance & Controlling, Mercedes-Benz Otomotiv Turkey, will be inducted into the Board of Mercedes-Benz India as Executive Director in due course of time.

safe-haven buying in gold, domestic brokerage firm ICICI Securities believes that the prices may hit Rs 85,000/10 g while silver prices may rally to Rs 1,10,000/kg, backed by rising industrial demand in the calendar year 2025. The domestic brokerage firm, in its report, stated the expectation of gold prices to rise towards the said target due to strong central bank buying and trade war concerns whereas silver’s rally towards the Rs 1,10,000 target is backed on expectations of market deficit and industrial demand.

Sensex and Nifty plunged 1.6% on Monday, certain hospital stocks attracted investors' attention after the government confirmed three confirmed cases of Human Metapneumovirus (HMPV) — 2 in Karnataka and one in Gujarat — amid reports of a virus outbreak creating havoc in China. Bengaluru-based Narayana Hrudayalaya shot up 3.4% to hit the day's high of Rs 1,355 on the NSE while Rainbow Childrens Medicare was up 4% in the intraday trade. Others including Apollo Hospitals, Aster DM Healthcare, Krishna Institute of Medical Science (KIMS) were up by up to 2% in the day's trade.

Fabtech Technologies was fully subscribed on Monday, with overall subscriptions of 94.08 times by 1:02 PM on the second day of bidding. The company aims to raise Rs 28 crore through the SME IPO, with shares set to list on the BSE SME platform. The retail portion of the issue was subscribed 158.99 times, while the non-institutional investors category was subscribed 70.93 times on the second day of bidding. Meanwhile, the allocation for qualified institutional bidders was booked 3.75 times.

The stock had been making higher highs and higher lows over the past few months on the daily timeframe, indicating sustained bullish momentum. Recently, it had consolidated near its immediate support zones and had shown a sharp upward move of nearly 10% in the last two weeks, suggesting renewed buying interest.

Au Small Finance Bank Ltd. 2.29 per cent to Rs 560.30 in Monday's session as of 12:27PM (IST) even as the equity benchmark Sensex traded 965.37 points at 78257.74. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 813.00 and a 52-week low of Rs 534.00 on NSE. Around 65989 shares changed hands on the counter till 12:27PM (IST).

SBI Cards and Payment Services climbed as much as 5.1% on Monday to Rs 760.15 on the BSE after two brokerage firms Nomura and Nuvama upgraded the stock’s rating to 'buy’, while increasing their target prices to Rs 825 and Rs 850, respectively, signaling potential upsides between 8.5% and 12% from current levels. Japanese brokerage firm Nomura highlighted that several near-term concerns, particularly around asset quality, are expected to diminish for SBI Cards and Payment Services. The brokerage said that it has observed a growing concentration of credit card debt in metro regions since FY23, with the share of the top eight metro cities in new sourcing showing an upward trend.

Telangana Anti-Corruption Bureau office here on Monday after BRS Working President K T Rama Rao, who was summoned in connection with the ongoing investigation into Formula E race case, was denied the company of his lawyer, prompting him to submit his statement outside the office.

InterGlobe Aviation Ltd. 3.83 per cent to Rs 4291.20 at 12:32PM hours (IST) on Monday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 17,344 shares with a turnover of Rs 7.52 crore till 12:32PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 25.06, while the price-to-book value ratio stood at 68.53.

Voltas Ltd. traded at Rs 1786.90 on BSE at 12:22PM (IST) on Monday, 2.44 per cent from previous close. The scrip quoted a 52-week low price of Rs 985.15 and a high of Rs 1946.20.

Subscribe to enjoy similar stories. The latter half of December witnessed a flurry of groundbreaking announcements despite the holiday season, highlighting a Generative AI industry that cannot afford a pause, given the rapid developments and high costs for those who fall behind. Google raised the bar with Gemini 2.0: Google’s launch of Gemini 2.0 is a full-fledged base model upgrade from the 1.5 series.

ArcelorMittal South Africa Ltd. will close its business that makes long-steel products, potentially affecting about 3,500 jobs.

Human metapneumovirus (HMPV) virus has hit the headlines around the world including India, sparking concerns about the possibility of a Covid-like crisis. However, health experts are urging the public to remain calm and avoid unnecessary panic.

Bharat Electronics Ltd. 2.17 per cent to Rs 285.60 at 12:17PM (IST) in Monday's trade. The scrip has hit a high of Rs 292.40 and low of Rs 283.35 so far during the session. The stock had closed at Rs 291.95 in the previous session. The counter has had a total traded volume of 599792 shares so far with a value of Rs 17.24 crore on the NSE. It traded at a price-to-earnings multiple of 45.81 and a price-to-book ratio of 9.02.

Nifty Index, trading near the 24,000 mark seems to be getting stuck within 50 DEMA of 24,212, 100 DEMA of 24,249 on the upper side and 20 DEMA of 24,017 and 150 DEMA of 24,026 DEMA on the lower side. In the previous week, a positive breakout in Nifty was seen but the momentum fizzled out on Friday as the index didn’t manage to break the resistance at 61.8% Fibonacci level of 24,248 and gave away partial gains by closing 183 points, lower than the previous day.