Experts Financial News

Given the positive global and domestic set-up analysts believe positive momentum will continue with some consolidation in the second half of the week. We have collated a list of three stocks that either hit a fresh 52-week high, or an all-time high or saw a volume or a price breakout. We spoke to analysts on how one should look at these stocks the next trading day entirely from an educational point of view: Analyst: Mitesh Karwa, Research Analyst Bonanza Portfolio Zensar Technologies Zensar Technologies is seen to be breaking out of a rounding bottom formation on the weekly timeframe with a bullish candlestick and above-average volumes which indicates bullish strength, adding to it, the stock is making higher high and higher lows and is trading above all its important EMAs.

RBI) has set Monday, December 18 as the date for premature redemption of SGB 2017-18 Series XII of the sovereign gold bond. The price for premature redemption is Rs 6,199 per gram. Premature redemption in the SGB scheme is permitted after the completion of the fifth year from the date of issue.

Chelsea will host Newcastle United on Tuesday in the Carabao Cup quarter-finals. The Blues thrashed Sheffield United on Saturday while Newcastle beat Fulham in their previous match. With these victories, both sides are full of confidence and optimism. Chelsea welcomed Christopher Nkunku onto the bench for the first time since his signing on Saturday. On the other hand, Newcastle lost both Fabian Schar and Joelinton to injury on Saturday. Besides, Alexander Isak needs to be fit. Newcastle will also miss Harvey Barnes, Sandro Tonali, Jacob Murphy, Nick Pope, Elliot Anderson and Joe Willock.

Both the NSE Nifty 50 index and BSE Sensex rose about 2.3% in the week, extending gains for the seventh consecutive week, marking their longest winning run since January 2018. IT companies, drawing a significant share of their revenue from the US, rallied 7.16% this week, logging their best week in 26 months. Here's how analysts read the market pulse: «The prevailing sentiment appears strongly in favor of the bulls, as indicated by the absence of any reversal signals on the technical charts. Resistance is observed at 21,500, while a potential further rally in the Nifty could occur upon breaching this level.

Indian stock market: The Nifty's upward momentum persists with the bulls maintaining control in the market. Achieving a new all-time high, the index has marked its seventh consecutive weekly gain. The prevailing sentiment appears strongly in favor of the bulls, as indicated by the absence of any reversal signals on the technical charts.

global market performance has got highly buoyant in anticipation of deep reduction in interest rate. Concern is that the rally is stretching ahead, caution is warranted as inflation is forecast to stay above average in 2024. Fed is indicating 3 cuts in 2024 while market is hoping on 4 to 5.

diversifying globally in investments provides advantages such as generating Alpha, hedging against currency fluctuations, and exploring diverse markets. “With only three Indian companies among the top 500 global market capitalizations and a 3% share in global GDP, Indian investors have access to a limited pool of global prospects.

IPO) of Suraj Estate Developers will open for subscription on December 18. The issue closes on December 20.

Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore).

automobile sector took off in 2009 when Tata Motors set up its Nano manufacturing plant in Sanand, about 50 km from Ahmedabad, and the state has been attracting some big ticket investments from both domestic and international players since then. Now, with the global shift tending towards electric mobility, the Gujarat government seeks to position itself as a leading electric vehicles (EV) manufacturing hub. To this effect, it signed an MoU with the Tata Group worth Rs 13,000 crore in June this year.

COVID-19 sub-strain JN.1). As reported by ANI, George said, “No need of any worry. That is a sub-variant (COVID-19 sub-strain JN.1).

Dalal Street, and market experts see them riding indices further higher in the near term. Last week’s rally was driven largely by foreign inflows, which will be essential for a sustained up-move in the market. After the 7% gains clocked in by Nifty 50 so far in December, technical charts, however, suggest that the market has entered into an overbought zone, and some cooling off to that extent is warranted. “From a technical standpoint, the Nifty is maintaining its bullish momentum, marked by a breakout from a flag formation. The immediate target stands at 21,700, with the possibility of further upward movement to 22,000, although some consolidation may follow,” said Santosh Meena, head of research, Swastika Investmart. On Friday, the Nifty 50 ended at a record closing high of 21,456.65 points with 1.3% gains. While the outlook for the secondary market remains positive, the action is likely to be more in the primary market as a plethora of IPOs are scheduled to hit the Street. Here are a few other factors that will drive the momentum for markets in the coming week.

Adani Enterprises, Indian billionaire Gautam Adani's flagship firm, said on Saturday it had acquired a majority stake in news agency Indo-Asian News Service or IANS as the conglomerate tries to consolidate its media presence. The Adani group said in a statement that upon acquiring a 50.5% stake for 510,000 rupees ($6,140), it would assume full operational and management control of IANS. The news agency reported a revenue of over 118.6 million rupees in the 2022/23 financial year. Adani entered the media industry in March last year by acquiring Quintillion Business Media, which operates business and financial news digital media platform BQ Prime. Later in December 2022, it acquired almost a 65% stake in the broadcaster NDTV.

Muthoot Microfin has raised Rs 285 crore by selling part stake to anchor investors in the pre-IPO placement. The company has allocated 97,93,812 shares to 26 anchor investors. These include foreign portfolio investors like Morgan Stanley, Societe Generale, Copthall Mauritius Investment.

IPO) of Muthoot Microfin will open for subscription on December 18. The issue closes on December 20.

Gaurav Bissa, VP, InCred Equities, says “our strategy and something which we had discussed with our clients and we have recommended aggressively to our clients as well as we are playing IT index as a whole for a fresh lifetime high in the next six to eight trading months. IT is looking strong but Bank Nifty has been so-so. As a strategy, we have recommended that IT and pharma will outperform Bank Nifty relatively over the next couple of years.” First of all, a quick view on the IT index along with the Nifty. If we talk about Nifty IT, it had a good amount of consolidation, it was consolidating for a year and then we witnessed a breakout around 32,000 odd levels. It made a retest and now we have seen IT going higher. The next hurdle at this point of time comes around 36,000, 36,500. So, probably, another 1000 points upside cannot be ruled out from the current levels and there we can see some consolidation.

Sanjiv Bhasin, Director, IIFL Securities, explains why he was convinced about the merits of stocks like JP, TTML and even Suzlon. One would have considered them to be too risky, but they have all done very well. Every Friday afternoon, I would say TGIF, thank God it is Friday. After the way the markets have moved, everybody is saying, why is it Friday? The market will remain closed for two days. Of course, we should have the market open on the weekend also.

Pankaj Murarka, CIO, Renaissance Investment Managers, says “the AI wave will be a much longer term wave like we saw in the mid-90s or early 90s till the end of the decade, the dotcom boom. As a result, IT companies in India across largecaps and midcaps, if they execute well, if they have solutions around it and if they build capabilities around AI, will see a huge amount of work flowing to them. This whole wave of elevated IT spends or resurgence in IT spends globally will sustain for this decade. That is my view and that is why I think this is not one of those cyclical rallies in IT, but this is probably a change of trend.” It has been such a great week. Shouldn’t you be more enthusiastic? We are nearing the end of the year. It has been a phenomenal year for equities globally and for India as well and now that we are ending on a very high note with the last of the sector which had not participated in this b,ull market for almost 24 months now has also started participating. So, it is time to just calm down and absorb all that we have gained and experienced.

Kerala, the Central government has approved the Beypore-Kochi-Dubai cruise service, signaling a new era for Malayalis venturing into the world of luxury sea travel, according to a report by Manorama, on December 15, 2023. The Union Shipping Minister, Sarbananda Sonowal, revealed that the initial steps to launch the cruise ship service are underway, following consistent demands from non-resident Indian passengers.

AI is coming to a smartphone near you. The stars have aligned. All pieces of the puzzle are falling in place. From 2024 onwards, the breakthrough technology is expected to be a key selling point, featuring prominently in marketing communication from brands, as smartphone makers look to leverage the breakthrough technology to chart another phase of growth. “Innovation has so far been on the connectivity side or the camera, both of which have improved by leaps and bounds thanks to AI. But now, with generative AI, smartphones will become smarter, because you will be able to do a lot of things without even opening any apps. You can simply issue voice commands to accomplish tasks,” said Neil Shah, co-founder of the consulting firm Counterpoint Research.

gains for the seventh consecutive week, marking their longest winning run since January 2018. Specifically, the BSE benchmark jumped 1,658.15 points or 2.37 per cent on the week, while the Nifty climbed 487.25 points or 2.32 per cent. Global cues triggered foreign capital inflows into Indian markets after the US Federal Reserve signalled the end of its tightening cycle.