NIFTY Financial News

Samir Arora, Founder and Dinshaw Irani, CIO, Helios Capital in conversation with Nikunj Dalmia of ET Now. Arora says: “The difference between us and others is that while nobody will say that they buy bad factors like bad management or bad history or bad themes, they do trade off. That means they will accept high valuation by saying it has good management or they will accept poor quality management by saying it is very cheap and discounted. We have understood that there is no need to make these trade-offs. That is how the consistency has come. In fact, we are betting on it. If you see our tagline, it is for every term.” What is elimination investing? Do fund managers need to take higher risk to beat the index? Samir Arora: For any active fund manager, the attempt is always to do better than the index. But to do that, you have to basically sort the universe into stocks which are good or bad and eliminate the bad, which is why we call it elimination investing. Whether it pays off or not is something that you cannot promise because you yourself do not know. But historically, that has worked.

gold to crypto. Amidst this dynamic landscape, Bitcoin has been the standout performer, with an impressive surge of over 160% in the past twelve months. Bitcoin has delivered these returns, which is higher than stalwarts like Nifty50 and gold, which delivered nearly 19% and 13.5%, respectively. Prices of some crypto coins (Altcoins) surged up to 16,000%, churning out mind boggling returns for investors. «Bitcoin and Ethereum experienced significant gains, with Bitcoin's Year-to-Date growth reaching an impressive 160%. This upward trajectory reflected a clear shift in sentiment towards crypto assets. The market's growth throughout the year was characterized by organic and sustained development, positioning it favourably for the future,» said Rahul Pagidipati, CEO of ZebPay. Meanwhile, Shivam Thakral, CEO of BuyUcoin, said, «We have witnessed very encouraging numbers in terms of growth. The total market capitalization has increased by around 60% year-to-date. This growth was driven by factors like institutional adoption, DeFi's rise, and NFT popularity. Bitcoin, the world’s largest digital asset by market cap is up by 155% at the time of writing, which makes Bitcoin one of the best-performing asset class of 2023.»

Kunal Rambhia, Fund Manager, The Streets, says one can initiate a buy on Mphasis. The stop loss being Rs 2070 and the first target can be 2140 and we will keep revising the target on the higher side. The second counter is from the defensive pack and that's Britannia. One can go long on Britannia also. The target is Rs 4,650 and the stop loss is Rs 4,450. Let us talk about the fall, there is nothing more that we can talk about the midcap, smallcap space that has seen a sharper fall. So, what is the view on the broader markets? What do they look like? And what is your presumption that is coming in for going forward as well? The Nifty is down by around 5.5% from the recent highs of around 19,850. But presently we are trading at around 18,865 and on the chart the first support which I can see is 18,925. Now, this is the futures level which I am mentioning about.

The stock quoted a 52-week high of Rs 775.0 and a 52-week low of 557.15. About 51,456 shares changed hands on the counter so far.

Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here It is an excellent time for retail investors to lock in the FD rates for 3-5 years, suggested Gupta. Recently, some banks have also started floating rate FDs.

General Elections are likely to keep markets volatile in the near term, say experts. The yield on the 10-year US benchmark bond rose to over five percent for the first time since 2007 on Monday, putting pressure on equity markets globally. Though it has receded below 5 percent - but still remains at a multi-year high.

MphasiS Ltd. slipped 1.17 per cent to Rs 2103.75 in Thursday's trade as of 12:58PM (IST). The stock hit a high price of Rs 2123.9 and low of Rs 2068.45 during the session.

The NSE Nifty index traded 260.35 points down at 18861.8, while BSE Sensex was down 853.45 points at 63195.61 as of 11:15AM(IST)on October 26. In the Nifty index, Axis Bank Ltd.(up 0.41 per cent), HCL Technologies Ltd.(up -0.13 per cent), ITC Ltd.(up -0.30 per cent), Grasim Industries Ltd.(up -0.40 per cent) and Hindustan Unilever Ltd.(up -0.49 per cent) were among the top gainers.

The NSE Nifty index was trading 243.8 points down at 18878.35, while BSE Sensex was down 800.53 points at 63248.53 at the time of writing this report. In the Nifty index, Axis Bank Ltd.(up 0.45 per cent), HCL Technologies Ltd.(up -0.13 per cent), ITC Ltd.(up -0.32 per cent), Grasim Industries Ltd.(up -0.40 per cent) and Hindustan Unilever Ltd.(up -0.47 per cent) were among the top gainers.

Benchmark NSE Nifty index fell 262.25 points to 18859.9 amid selling in frontline bluechip stocks. However, stocks such as Godha Cabcon & Insul, SecMark Consultancy, V Mart Retail, Adani Gas and VL E-Governance & IT, touched their fresh 52-week low.

PI Industries Ltd. fell 0.79 per cent to Rs 3304.55 in Thursday's trade as of 11:21AM (IST) even as the benchmark Nifty ruled at 18860.7, down 261.45 points. The scrip had closed at Rs 3330.9 in the previous session.

Adani Enterprises (down 3.2%), Tech Mahindra (down 2.8%), Mahindra & Mahindra (down 2.6%), Bajaj Finserv (down 2.5%), Hindalco Industries (down 2.1%), Bajaj Finance (down 1.9%), LTIMindtree (down 1.7%), and Eicher Motors (down 1.7%) were the top losers in the pack. On the flip side, Axis Bank and HCL Technologies are trading in the green with a marginal gain of 0.8% and 0.1%, respectively. Among sectoral indices, Nifty Realty was the biggest laggard in today's trade, dropping as much as 3.17%, followed by Nifty Media (down 2.6%), and Nifty PSU Bank (down 2.31%).

Crude oil deficit to high inflation: How can the Israel-Hamas war impact Indian economy? — Explained (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The market is expected to remain on a bumpy track in the near term even though the long-term outlook remains strong because of India's strong economic growth potential.

Tech Mahindra's disappointing earnings, the Nifty IT index plummeted more than 1% on Thursday's trade amid an overall gloomy market environment. Among the top laggards of the Nifty IT index were shares of Persistent Systems Ltd (down 3.07%), Tech Mahindra Ltd (down 2.91%), and Coforge Ltd (down 1.95%). Analysts witnessed selling pressure to continue in the IT Index following the release of lower-than-expected earnings from major IT companies, along with lower guidance indicating less spending for the upcoming year.

Natco Pharma Ltd.(up 0.85 per cent) were among the top gainers. Sanofi India Ltd.(down 2.63 per cent), Granules India Ltd.(down 2.13 per cent), Torrent Pharmaceuticals Ltd.(down 2.01 per cent), Alkem Laboratories Ltd.(down 1.85 per cent) and Biocon Ltd.(down 1.8 per cent) were the top losers on the index.

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says “we are in for a correction and volatility in the broader market, but it is not because investors are turning risk averse. It is because FIIs are selling largecaps. Mutual funds, in order to buy those largecaps, need to sell mid and smallcaps. It is not necessarily a reversal of risk attitude as much as the opportunity to get good quality, large companies at much reasonable prices. So it is just a reallocation. For a long-term investor, in fact the on-going correction could be a good time to accumulate.” Crude prices have eased off a bit at the start of the week. How do you see this correlation between crude prices and the kind of consolidation that we are seeing on the Nifty play out from here? The spot crude prices may ease up based on local announcements but if you look at the forward crude expectations, they remain in a firm stage both because it is winter setting into the US and in Europe, when the energy heating demand for homes goes up. The Israel-Hamas conflict is adding to the statement by OPEC that there will be at least a three and a half million barrel shortfall for Q4. So in the short term, because of China's slowdown, there may be movement in the spot crude, but otherwise I expect a firm crude trend.

BSE Sensex today opened lower at 63,774 levels and went on to hit intraday low of 63,403 within few minutes of stock market's opening bell today. The 30-stock index has been under sell of heat for the last six days and it has fallen from 66,428 levels to 63,403 levels, losing over 3,000 points in this time. Nifty 50 today opened lower for sixth day in a row and hit intraday low of 18,920 levels, losing around 890 points in this time.

S Krishnakumar, Director, Lion Hill Capital, says “water, capex and water chemicals are big areas where there is a huge amount of growth that is kind of coming through. In addition to that, if you look at the green energy transition, people talk about hydrogen etc. A lot of global companies in India have their foot into those areas and we should look at some of the Indian listed entities of global MSEs. Valuations are a little steep because we are factoring in a lot of the next decade and less of the current numbers which are not as good as supportive valuations. So, one should definitely look at good entry points to get into some of these new trends.” We are seeing the US 10-year bond yield retreat to 4.8%. We are seeing positive global cues, but we are also seeing the Indian index in retreat mode. How should one look at it? In the near term definitely the global construct is not positive. Definitely, rising tensions in the Middle East is creating a lot of uncertainty on how this could go in the next one or two months. Also, the US 10-year has been moving up and hitting a 10-5% and above kind of a mark, bringing into focus the kind of stiff interstates kind of ahead of us for the next six to six months and more.

“My first investor, who is very close to me, indeed had faith in our fund. She invested Rs 55 L with us on the inception date of October 8, 2020. When I last checked her investment at the end of September, it had grown to approximately Rs 2.05 cr,” says Anirudh Garg, Partner & Fund Manager, INVasset LLP. In an interview with ETMarkets, Garg said: “Our fund house, INVasset, manages the INVasset Growth Fund, which operates on a unique algorithm known as the INVasset Aaid Shifter” Edited excerpts: Second straight month of consistent performance with gains of more than 9% compared to over 1% rise seen in the Nifty50. Please take us through the performance of your fund ‘Growth Pro Max Fund’ in September. As we delve into past returns, there are a couple of important disclaimers to keep in mind. Firstly, any discussion of past returns should not be construed as a guarantee of future performance.

Zerodha Broking and Smallcase Technologies, launched its maiden funds — Zerodha Nifty LargeMidcap 250 Index Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund. Both are open-ended, passive, index equity mutual fund schemes with the minimum amount of investment being Rs 100 and Rs 500, respectively. The NFOs will close on November 3. The schemes will replicate the Nifty LargeMidcap 250 Index, with the ELSS having a mandatory lock-in of 3 years. The 250 stocks of the Nifty LargeMidcap 250 Index are the combination of the universe of stocks forming part of the Nifty 100 Index and Nifty Midcap 150 Index.

Sensex and Nifty plunged nearly 1% on Wednesday due to heavy selling in financial and IT shares as the ongoing tensions in the Middle East unnerved investors. Stocks that were in focus included names like Mahindra Logistics, which fell 1.94%, NDTV, which declined 2.38%, and Vodafone Idea, whose shares declined 0.91% on Wednesday. Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today. Mahindra Logistics — Buy The stock has touched a significant support level of 350 in today's session. Looking at the overall structure on daily charts, Mahindra Logistics might experience a pull-back rally towards 380-390 if the level of 350 is well maintained.