Experts Financial News

THE Pension Fund Regulatory and Development Authority (PFRDA) has allowed investors of National Pension System (NPS) to select multiple pension funds for the various asset classes. So investors must review the performance of the funds at the beginning of the year and spread the corpus across three top-performing pension fund managers to earn higher long-term returns.

Driven by policy reforms, positive consumer sentiment, rising disposable income and growing demand for bigger homes, the real estate sector in India has experienced remarkable growth in 2023, surpassing the growth rates of all previous years and breaking all records.

Lower interest rates will likely drive the growth in affordable housing finance in 2024, say bankers. Last week, State Bank of India Chairperson, Dinesh Khara said that lending rates may fall from middle of next year.

The Income Tax (IT) department has sent alerts through text messages and emails to around 3 million salaried taxpayers across the country, highlighting the apparent mismatch between TDS (tax deducted at source) and the refunds claimed by them in their revised tax returns, an official told FE.

The year 2023 has been marked by major global economic shocks such as the Russian-Ukraine war, NATO tension, stressed US-China relations, energy and food crisis, cyber-attacks, and climate risk. These shocks have led to significant geo-political reorientation. It has also resulted in an impending economic downturn in western economies, placing the global economy in a very vulnerable position. COVID-19 is another polarizing issue with many economic and social ramifications. India’s GDP and economic growth rate have also been adversely affected by these global tensions.

Adani Power Ltd. traded 0.22 per cent up at Rs 526.05 at 01:49PM (IST) on Monday, even as BSE benchmark Sensex dropped 170.12 points to 72240.26.

LTIMindtree Ltd. dropped 0.16 per cent to Rs 6280.0 at 01:54PM (IST) in Monday's trade. The stock hit a high of Rs 6319.95 and low of Rs 6237.8 so far during the session.

Trent Ltd. fell 1.54 per cent to Rs 3009.0 in Monday's trade as of 01:59PM (IST) even as the benchmark Nifty ruled at 21731.4, down 47.3 points. The scrip had closed at Rs 3056.15 in the previous session.

Cholamandalam Investment & Finance Company Ltd. slipped 2.34 per cent to Rs 1230.7 in Monday's trade as of 02:05PM (IST). The stock hit a high price of Rs 1260.0 and low of Rs 1229.8 during the session.

Aditya Arora, Adlytick, says “the outperformance in the PSU counter may continue, but it has been a little overstretched. So, probably there could be a sentiment spillover in January but post that, there could be profit booking in all the PSE counters. So, mean reversion trade could be a good trade in the selective PSE basket, somewhere valuations are pretty stretched. I am not very bullish on this space.” My first question today would not be on the index, but on a stock that has gained nearly 30% in two trading sessions, Vodafone-Idea. Any kind of technical trigger that you are seeing on this counter? Aditya Arora: So, before talking about Vodafone-Idea, I would like to give a disclaimer that we had recommended a buy call on Vodafone on Friday itself in derivatives, which shot up 100%. Coming back to the question, I think the stock is in bull's control. They are strongly controlling and dominating the trend. There is a long way to go on the upside. This could be start of an uptrend which could take the stock upwards towards Rs 20-22 levels in long term and stop loss for the same should be maintained at Rs 14 but the outlook for the stock looks very strong whether you look at the news front, fundamental front or technical front or derivative front, stock looks very fantastic and very bullish.

Colgate-Palmolive (India) Ltd. traded 1.65 per cent down in Monday's trade at 02:10PM (IST). Around 6,667 shares changed hands on the counter.

Marico Ltd. traded 0.49 per cent down at Rs 545.5 on Monday at around 01:19PM (IST), while the benchmark BSE Sensex declined 170.12 points to 72240.26. As many as 9,698 shares changed hands on the counter with a total value of Rs 0.54 crore.

Lupin Ltd. slipped 0.94 per cent to Rs 1310.5 in Monday's trade as of 01:24PM (IST). It hit a high of Rs 1334.9 and low of Rs 1307.7 during the session.

Avenue Supermarts Ltd. traded 0.32 per cent down in Monday's trade at 01:29PM (IST). Around 4,142 shares changed hands on the counter.

Voltas Ltd. traded 0.06 per cent up at Rs 977.85 at around 01:34PM (IST) on Monday. The stock had closed at Rs 978.45 in the previous session.

Shriram Finance Ltd. gained 0.28 per cent to Rs 2058.0 in Monday's trade as of 01:39PM (IST). The stock hit a high price of Rs 2078.95 and low of Rs 2042.45 during the session.

Au Small Finance Bank Ltd. fell 0.68 per cent to Rs 781.6 at 01:44PM hours (IST) on Monday. Earlier in the day, the stock saw a gap down start to the session.

Vedanta Ltd. traded 0.07 per cent up at Rs 258.7 on Monday at around 12:38PM (IST), while the benchmark BSE Sensex declined 170.12 points to 72240.26. As many as 230,292 shares changed hands on the counter with a total value of Rs 5.95 crore.

Godrej Consumer Products Ltd. traded 0.98 per cent up in Monday's trade at 12:43PM (IST). Around 6,642 shares changed hands on the counter.

ICICI Prudential Life Insurance Company Ltd. traded 0.43 per cent down in Monday's trade at 12:48PM (IST). Around 10,792 shares changed hands on the counter.

Markets brace for January storm as retail, institutions face off in derivatives (Exciting news! Mint is now on WhatsApp Channels. Subscribe today and stay updated with the latest financial insights! Click here!) Wipro has made a solid base near ₹400–420 levels. The time retracement is 0.886 approximately, along with a price retracement of 0.618 approximately on the monthly timeframe.