NIFTY Financial News

Nifty 50 closing at 19,638.30, up 115 points, or 0.59%, while the Sensex ending at 65,828.41, up 320 points, or 0.49%. For the month of September, Nifty 50 gained 2% while the Sensex rose 1.5%. Nifty 50 formed a small positive candle on the daily chart with a long upper shadow.

equity markets witnessed decent gains on Friday with both the benchmark indices ending around half a percent higher. The Nifty 50 ended the month of September with a gain of 2% while the Sensex rose 1.5%. Investors will now focus on the Reserve Bank of India’s (RBI) monetary policy outcome this week and the upcoming quarterly earnings.

Read More)Microsoft CEO Satya Nadella said Monday that unfair tactics used by Google led to its dominance as a search engine, tactics that in turn have thwarted his company's rival program, Bing.Nadella testified in a packed Washington, D.C., courtroom as part of the government's landmark antitrust trial against Google's parent company, Alphabet. The Justice Department alleges Google has abused the dominance of its ubiquitous search engine to throttle competition and innovation at the expense of consumers, allegations that echo a similar case brought against Microsoft in the late 1990s.

auto stocks will remain in focus with monthly sales numbers. Further, a RBI policy meeting is scheduled this week, which will likely shape the market direction. «Overall we expect the market to trade in a broader range as the higher oil price has rekindled the worry over inflation and might result in a prolonged high interest rate environment,” said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a negative start GIFT Nifty on the NSE IX traded higher by 26 points, or 0.13 per cent, at 19587.5, signaling that Dalal Street was headed for negative start on Tuesday.

Nifty to sustain above the 19,500 mark to extend Friday’s gains. However, if the index falls below 19,500, analysts anticipate the possibility of additional selling pressure, potentially leading to a decline to 19,200 level. For traders considering long positions, stocks like Bajaj Finance, DLF, Granules, Grasim, Sun Pharma, Hero Motocorp, NTPC, and Tata Power are worth considering. VIRAJ VYAS TECHNICAL & DERIVATIVES ANALYST, ASHIKA STOCK BROKING Where is Nifty headed? Nifty has witnessed a corrective spell last week after touching life-highs in mid-September.

₹20 lakh for his son’s education, but this would be insufficient to fund education overseas. He is not sure how to build additional corpus or whether he should rely on loans or sell existing assets. Figuring out how to fund a sudden increase of 2-4 times the amount needed for a financial goal is baffling many individuals and has become one of the most asked questions.

Remunerations paid to top bosses in corporate India are increasingly coming under scrutiny, just as the gap between salaries of workers and top bosses widens. The widening gap Jayadev Galla, CMD of Amara Raja Batteries, took home over Rs 52 crore as compensation in FY23. That was about 1,872 times the median salary of the company's employees. Amara Raja Batteries heads the list of top 10 companies with the widest gap between CEO pay and median employee remuneration. An analysis of Nifty 500 companies that had released their annual reports for FY23 showed several small- and mid-cap, promoter-driven companies such as Amber Enterprises, JK Paper, Balkrishna Ind and Ratnamani Metals in the top 10, ET had reported in August.

Nifty 50 has net gained more than 13%, and one sector that has contributed significantly to this is the information technology pack despite the hullabaloo around global slowdown and earnings growth risks for the sector. The outperformance of IT stocks, which enjoy the second highest weightage in Nifty 50, to banks, has helped the 50-stock index move past the psychologically-crucial 20000-mark. In the first half of FY24, while the Nifty IT index has gained 11%, Nifty Bank has added over 9%. Of the 10 constituents of the Nifty IT index, eight of them have given double-digit returns in the April-September period. One must note that the stellar gains in stocks have come even after most technology majors gave a bleak outlook for earnings growth in FY24 amid the economic slowdown in the US and Europe.

Reserve Bank of India's (RBI) rate-setting panel is likely to keep the policy interest rates unchanged later this week while continuing its protracted vigil on inflation, as the steepest increase in crude oil prices in 10 months amid signs of further rate hardening in the US lengthens the odds on an immediate turnabout in the rate trajectory at home. An ET poll of 12 market respondents showed that at the end of its October 4-6 meeting, the Monetary Policy Committee (MPC) is likely to keep the repo rate unchanged at 6.50% while retaining its stance of withdrawal of accommodation. Such an outcome would mark the fourth successive policy review in which the MPC has maintained a status quo on rates and stance. Focus on protecting external sector «The MPC is expected to extend its hawkish pause… global crude oil prices have surged to November 2022 highs, surpassing the RBI's April estimate of $85 per barrel, with September's average approximately 9% higher than that of August,» Radhika Rao, senior economist, DBS Bank said. This has coincided with the dollar's climb as the Federal Reserve has sought to hold rates 'higher for longer', dimming the appeal of emerging market assets for global investors.

Also Read: Stock Market Holidays in October 2023: BSE, NSE to remain shut on these days Additionally, trading in the commodity derivatives segment and Electronic Gold Receipts (EGR) will also be closed due to Mahatma Gandhi Jayanti falling on Monday. Trading in the commodity derivative segment during both, the morning session and evening session, will remain closed.

₹14,768 crore in NSE’s cash market in September after buying equities worth ₹1.69 trillion over six straight months. Simultaneously, they held a cumulative net short position in index and single-stock futures as of 29 September, coinciding with their cash market sales. Their cumulative net shorts in index futures (Nifty and Bank Nifty) contracts stood at 72% and in single-stock futures contracts at 53% at the beginning of the October series of derivatives contracts.

Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here! Nifty futures has rolled at around 76 per cent compared to 78 per cent which is lower with respect to the previous series. The Open Interest for the new contract is also lower by around 3 lakh with respect to the last month contract implying long unwinding of positions in the Index.

₹16,026cr on 27th Sept while net inflow from DIIs is ₹14,230cr as on 21st Sept. During this month, selling was also noticed at HNI’s desk especially in the mid & small counters. Maybe contemplating to book profit after the solid performance of the category in FY24 during April to August.

₹62,586.88 crore last week. Last week, IT majors like Tata Consultancy Services (TCS) and Infosys emerged as the biggest loser of the market. Last week, the BSE benchmark fell 180.74 points or 0.27 per cent, and the Nifty declined 35.95 points or 0.18 per cent.

Also Read: S&P Global downgrades Vedanta Resources to CCC, second rating cut this week after Moody's The BSE Smallcap index also rose about a per cent. The BSE Midcap index, on the other hand, jumped 3.7 per cent in September. The Nifty index gained more than 2 per cent during the July-September quarter, but closed lower for a second straight week, dropping 0.2 per cent.

closer to $100 a barrel, many investors took profits on the rally given ongoing macroeconomic concerns. Crude prices going above $100 per barrel mark brings inflationary pressures on global economy and will compel central banks to raise interest rates all over again. Front-month Brent November futures settled down 7 cents to $95.31 per barrel at the contract's expiry, up about 2.2 per cent in the week and 27 per cent between July-September.

Bank Nifty has not been displaying significant momentum, primarily due to the lackluster performance of the heavyweight HDFC Bank. Rupak De, Senior Technical analyst at LKP Securities, says it may not be advisable to consider shorting until Bank Nifty drops below 44,500. “A decisive decline below this level could potentially drive the index towards 43,800/43,500.

«So, on an intraday basis, we may see a lower level; however, it is very important for us to close above 19,600 to witness a bit of a bullish momentum or even a sideward range,» says Foram M Chheda. Firstly, the index that saw a decent rebound on the Friday session after scaring everybody on the expiry day, that is Thursday, but for the upcoming week how are you placing yourself on to the benchmark indices for Nifty as well as Bank Nifty, the rebound is expected to continue going ahead as well? To begin with, we have just closed marginally up above 19,600 level. It is basically a benchmark that we were eyeing at as well as it is a psychological mark as well. So, it is just closed there. So, it is more like a very consolidated move. Lately, we have seen a lot of volatility overall in the index itself, that maybe in the first half we may see a bit of a rebound but in the second half we see a bit of a sell-off or a profit booking coming in.So, what I expect in the truncated week also, that is the next week, it is going to be more of a consolidated move and at the same time with a very cautious approach, one should be maintaining very strict tight stop losses.

Lord Ganesha’s annual arrival and departure during the festival marks the continuous cycle of birth, life, and death. Interestingly, the stock market also exhibits a continuous cycle of ups and downs. When the devotees welcome the arrival of Lord Ganesha into their homes, it signifies the birth of life with hope and new beginnings. The stock market faces similar phases when the bull market offers the investors the birth of opportunities with periods of prosperity and success.

Buy or sell stocks: Amid expectations of partial US shutdown, Indian stock market opened upside and extended its early morning gains further during Friday session. Nifty 50 index gained 114 points and closed at 19,638 levels, BSE Sensex went up 320 points and ended at 65,828 mark whereas Bank Nifty index added 283 points and closed at 44,584 levels.

The NSE Nifty index ended the session 114.75 points up at 19638.3, while BSE Sensex rose 320.09 points to 65828.41. In the Nifty index, Hindalco Industries Ltd.(up 5.53 per cent), NTPC Ltd.(up 3.59 per cent), Hero MotoCorp Ltd.(up 2.94 per cent), Dr.