Experts Financial News

As part of the Statement on Developmental and Regulatory Policies. RBI said on December 8, 2023, «Banks and financial entities are maintaining an ever-increasing volume of data.

The NSE Nifty index traded 92.35 points up at 20993.5, while BSE Sensex was up 310.47 points at 69832.16 as of 10:50AM(IST)on December 08. In the Nifty index, JSW Steel Ltd.(up 3.56 per cent), NTPC Ltd.(up 2.27 per cent), Coal India Ltd.(up 1.78 per cent), HCL Technologies Ltd.(up 1.77 per cent) and Hindalco Industries Ltd.(up 1.50 per cent) were among the top gainers.

The NSE Nifty index was trading 77.65 points up at 20978.8, while BSE Sensex was up 271.67 points at 69793.36 at the time of writing this report. In the Nifty index, JSW Steel Ltd.(up 3.51 per cent), NTPC Ltd.(up 1.92 per cent), HCL Technologies Ltd.(up 1.77 per cent), Coal India Ltd.(up 1.51 per cent) and Hindalco Industries Ltd.(up 1.38 per cent) were among the top gainers.

Nifty 50, Sensex at record highs; how should you play large, mid, smallcaps? Nuvama underscored that midcaps are also expensive but they should still do relatively better than smallcaps. "Midcaps are also expensive at 26 times P/E (versus 20 times 10-year average), but the sizes and profiles of midcap businesses in India have improved significantly in the past five–seven years. Midcap premium of 28 per cent to Nifty valuation (versus 7-8 per cent average) is also not supportive.

Siemens Ltd. traded 0.1 per cent up at Rs 3838.05 at 10:56AM (IST) on Friday, even as BSE benchmark Sensex gained 279.37 points to 69801.06. The scrip had closed at Rs 3834.15 in the previous session.

HCL Technologies Ltd.(up 1.76 per cent), MphasiS Ltd.(up 1.5 per cent), LTIMindtree Ltd.(up 1.29 per cent), Persistent Systems Ltd.(up 0.81 per cent) and Infosys Ltd.(up 0.78 per cent) were among the top gainers. were the top losers on the index.

Tata Power Company Ltd. traded 0.93 per cent up in Friday's trade at 10:45AM (IST). Around 2,117,761 shares changed hands on the counter.

Reserve Bank of India's decision to keep the repo rate unchanged for the fifth successive time at 6.5% is expected to support the housing property market and help sustain a consistent trajectory of growth in home sales. The prevailing momentum in mid-income and premium housing sales is expected to persist, whereas affordable and low-income housing, sensitive to interest rates, may experience a subdued pace. Responding to the inflationary environment, the central bank, through six successive increases since May 2022, had raised policy rates by a cumulative 250 basis points, taking the repo rate to 6.5% before hitting the pause in April. Following this, home loan rates are already hovering around 9% from a record low of 6.6% a year ago. “Both residential and commercial real estate markets may benefit from stable interest rates.

RBI Monetary Policy (MPC) Meet: The Reserve Bank of India's MPC has kept repo rates unchanged at 6.5 percent, RBI Governor Shaktikanta Das announced on December 8. “The RBI MPC has decided unanimously to keep the policy repo rate unchanged at 6.50 percent. Consequently, the standing deposit facility (SDF) rate remains at 6.25 percent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 percent," Das said.

DOMS IPO: The initial public offering (IPO) of DOMS Industries Limited is going to hit primary market on 13th December 2023 i.e. on Wednesday next week. As per the DOMS IPO date of subscription, the public issue will open on 13th December 2023 and it will remain open for bidding till 15th December 2023.

LTIMindtree Ltd. traded at Rs 5642.0 on BSE at 10:51AM (IST) on Friday, up 1.32 per cent from previous close. The scrip quoted a 52-week low price of Rs 4120.0 and a high of Rs 5668.25.

Bank of India (RBI) refrained from surprising the market as on expected lines it kept policy rates and stance unchanged on Friday, December 8. The Monetary Policy Committee (MPC) of the RBI unanimously decided to keep the repo rate unchanged at 6.5 per cent after its December meeting. The MPC maintained the policy stance of 'withdrawal of accommodation' by the majority of 5 out of 6 members.

RBI) continued with its stance of pause in the bi-monthly policy review on Friday. The central bank held the Repo Rate (or the rate at which lends money to banks) at 6.5%, in line with the expectations of money market participants. What does the continued pause mean to mutual fund investors? The Reserve Bank of India has been holding policy rates since February this year. The apex bank had raised policy rates by 2.5% before the pause, starting from May 2022, to contain the inflationary pressure in the economy. Central banks raise interest rates to control inflation by suppressing demand for loans. According to money market analysts, the policy pause is likely to be a long one as the central bank is extremely vigilant about the inflationary pressure in the economy. Most of these analysts rule out a rate cut before June 2024.

Orchid Pharma with a buy rating, Prabhudas Lilladher has a buy rating on DMart, and a reduce rating on NOCIL. Motilal Oswal maintained a buy rating on Cholamandalam Investment & Finance Ltd. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Investec on Orchid Pharma: Buy| Target Rs 800 Investec maintained a buy rating on Orchid Pharma with a target price of Rs 800.

Future Consumer(up 6.25%), JHS Svendgaard Laboratories(up 6.18%), ADF Foods(up 1.87%), Bikaji Foods International(up 1.00%), Dangee Dums(up 0.88%), Heritage Foods(up 0.76%), Godrej Consumer Products(up 0.69%), Dabur India(up 0.68%), Hindustan Foods(up 0.68%) and Nestle India(up 0.67%) were among the top gainers. Jyothy Labs(down 2.17%), Adani Wilmar(down 1.79%), Mrs Bectors Food Specialities(down 1.06%), Tasty Bite Eatables(down 0.68%), Colgate Palmolive(India)(down 0.55%), Varun Beverages(down 0.50%), Hatsun Agro Product Ltd(down 0.42%), Britannia Industries(down 0.42%), Zydus Wellness(down 0.38%) and Gillette India(down 0.33%) were among the top losers.

Domestic benchmark index NSE Nifty gained 77.25 points to 20978.4, while the BSE Sensex traded 266.84 points up at 69788.53. On the other hand, Aakash Exploration, FCS Software, Orchid Pharma, Indian Renewable and Spencer's Retail stocks hit their fresh 52-week highs today.

On the BSE, Dr. Lalchandani Labs(down 20.00 per cent), Money Masters(down 9.99 per cent), Akshar Spintex(down 9.52 per cent), Atharv Enterpr(down 9.36 per cent) and Navoday Enterprises(down 8.63 per cent) were among the stocks that plunged over 5 per cent during the session.

DLF Ltd. gained 1.24 per cent to Rs 656.8 in Friday's session as of 10:20AM (IST) even as the equity benchmark Sensex traded 300.57 points higher at 69822.26. Earlier in the day, the stock witnessed a gap up start to the session.

MPC) unanimously opted to maintain the repo rate at 6.5 per cent for the fifth consecutive time, RBI Governor Shaktikanta Das said on Friday. The decision, following a three-day bi-monthly meeting, underscores the committee's commitment to its current policy stance. Governor Das highlighted the central bank's continued focus on the withdrawal of accommodation stance.

KKV Agro Powers Ltd.(up 5.33%), Karma Energy(up 4.95%), Indowind Energy(up 4.93%), Power & Instrumentation(Gujarat)(up 4.90%), Energy Development Company(up 4.39%), Alstom T&D India(up 4.24%), DPSC(up 2.84%), GE Power India Limited(up 2.11%), JSW Energy(up 1.97%) and Reliance Power(up 1.94%) were among the top gainers. Adani Energy Solutions(down 1.81%), ADANIGREEN(down 1.46%), SJVN(down 1.21%), CESC(down 1.11%), Torrent Power(down 1.11%), Gujarat Industries Power(down 0.61%), Kalpataru Projects International(down 0.32%), Adani Power(down 0.11%) and KPI Green Energy(down 0.02%) were among the top losers.

The Nifty future closed negative with losses of 0.03% at 21033 levels on Thursday. India VIX was down by 7.77% from 13.74 to 12.67 level.