NIFTY Financial News

GAIL (India) Ltd. gained 1.72 per cent to Rs 123.6 in Friday's trade as of 10:20AM (IST). The stock hit a high price of Rs 123.9 and low of Rs 122.35 during the session.

quarter which brought back inflation concerns on Dalal Street did weigh on the performance of benchmark indices and its constituents, as less than 10 stocks that are part of the Nifty 50 have given double-digit returns in this period. The Nifty 50 net gained about 2% in the current quarter, compared to the 10% gains it clocked in the June quarter. Nine of its 50 constituents gave 10-26% returns in the September quarter.

Market expert Dilip Bhat says he would still feel that one need not be in a hurry to buy, one can wait and watch and get stocks lower and if not downwards, at least sideways. Markets are good and even at the current level index-wise, much ahead of the implicit fundamentals. Bhat says: «Whether it is midcap, whether it is frontline, all stocks have rallied significantly well. Maybe a few here and there have corrected but by and large, I think they are still trading in an overpriced zone.» It looks like the era of double-digit growth is going to take time to come back for the IT companies. In IT companies, we have seen a lot of things happening, a lot of events that have taken place and in a sense, it is changing the picture a lot more than what we earlier thought. It is a lot more dynamic, earlier we all were so bullish about digital, the cloud and all those things. While those things still continue to be on the radar, AI has taken the front seat at the moment and possibly that also is going to change a lot of things, especially in terms of how IT is going to address these particular issues especially on the headcounts. So, taking all these factors into account, although none of the IT companies have given any great guidance, my own sense is that a lot of it has been reflected in the prices. So, I do not think there is going to be any negative surprise there for IT.

Nifty50 rose 60 points or 0.3% to 19,583 while the S&P BSE Sensex was up 138 points or 0.2% at 65,647 points. From the Sensex pack, NTPC, Tata Steel, JSW Steel, and L&T were the top gainers, rising 1-2%. Tata Motors, Sun Pharma, and SBI also rose in early trade.

Sandip Sabharwal, asksandipsabharwal.com, says “from the Kotak standpoint, there is no significant negative. HDFC faces a lot of headwinds related to its integration and impact on margins as liquidity becomes more and more tight. We have to give it time. So, at a price, it will be a buy. I do not think they are buys right now. Let them correct. These are good, well-managed banks and we will buy them at our prices.” Overnight, Morgan Stanley put out a note in the US saying that the rising yields and dollar rally would be very disadvantageous for emerging market stocks. We have seen all of this play out and the kind of relationship global macro cues have with Indian stocks for a very long time because of flows. How vulnerable are we now or do you think drawing previous historic example may not apply anymore and we are much more robust? Specifically for India, we are much, much more robust. If you look at our forex reserves, if you look at our overall trade, our current account deficit vis-à-vis what forex reserves we hold, our entire inflation dynamics vis-à-vis what used to be there earlier, things are totally different.

Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! Meanwhile, India fell short of inclusion in FTSE Russell's emerging market government bond index. However, the global index provider kept India on a watch list.

Sensex and Nifty fell by nearly 1% on Thursday due to unabated foreign capital outflows amid a largely negative trend in global markets. Stocks that were in focus included names like ICICI Bank, which fell 0.037%, Adani Power, which declined 0.37%, and RIL, whose shares dropped 1.26% on Thursday. Here's what Avdhut Bagkar, Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today. ICICI Bank — Cautious Following a breakdown below the 50-simple moving average (SMA) set at 969, the price action has accelerated weakness on the downside bias. The next support exists at 910, it's 200-SMA. The current sentiment is vulnerable to more bearishness.

«Going ahead, the weakness in the market is likely to extend till the worry over the elevated oil prices and higher interest rates remains, posing a risk to the earnings growth trajectory,” 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 25.5 points, or 0.13 per cent, at 19631.5, signaling that Dalal Street was headed for negative start on Friday.

Day trading guide for today: After showing a sustainable upside bounce from the lows on Wednesday, Indian stock market witnessed sharp downward reversal on Thursday and closed in red territory. Nifty 50 index finished 192 points lower at 19,523 levels, BSE Sensex corrected 610 points and ended at 65,508 mark whereas Bank Nifty lost 287 points and closed at 44,300 levels.

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Also Read: 10 things that changed for the stock market overnight - Gift Nifty, US GDP to Accenture’s muted earnings forecast Here’s what to expect from Nifty and Bank Nifty today: The Nifty corrected sharply and was unable to maintain levels above 19,750. “On the daily timeframe, the most recent candle has engulfed the bodies of the preceding few days' candles, which suggests a negative sentiment. The prevailing sentiment continues to favor selling during rallies," said Rupak De, Senior Technical analyst at LKP Securities.

domestic equity benchmarks settled around a percent lower amid volatility due to the monthly F&O expiry and dragged by weak global cues. Going ahead, the weakness in the market is likely to extend till the worry over the elevated oil prices and higher interest rates remains, posing a risk to the earnings growth trajectory. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd Asian markets traded higher on Friday following overnight gains on Wall Street and release of key economic data in Japan.

Buy or sell stocks for today: Following sell off in global markets, Dalal Street witnessed sharp correction ahead of the closing bell on Thursday session. Nifty 50 index finished 192 points lower at 19,523 levels, BSE Sensex corrected 610 points and ended at 65,508 mark whereas Bank Nifty lost 287 points and closed at 44,300 levels.

oil prices further squeezed appetite for risk assets. A surge in US treasury yields overnight to a 16-year high also kept investors on the edge, with market participants weighing the impact of elevated interest rates on equity valuations. BSE's Sensex dropped 610.37 points, or 0.92%, to close at 65,508.32.

NEW DELHI : Indian benchmark indices fell the most in six days on Thursday on continued selling by foreign institutional investors (FII) amid rising oil prices and US bond yields and weak Asian markets like Hang Seng and Nikkei 225 which plunged almost a per cent and a half each. Indian investors were left poorer by ₹2.98 trillion, with the NSE’s market cap falling to ₹314.26 trillion. Underscoring the negative sentiment and possibility of an extended correction, fear gauge India Vix surged the most in six months.

Nifty50 was below the 19,550 level. Here's how analysts read the market pulse: «On the daily charts, we can observe that the Nifty has closed below the 19,600 – 19,550 zone where multiple supports were placed. This is a sign of further weakness. On the way down it can slip further towards 19,500 – 19,440, which is the 78.6% Fibonacci retracement level of the rise from 19,224 – 20,222.

ALSO READ: Wipro appoints Aparna Iyer as new CFO as Jatin Dalal resigns Top Indian IT firm Tata Consultancy Services CEO Rajesh Gopinathan quit in March, while Tech Mahindra named Infosys veteran Mohit Joshi as its CEO and managing director, set to join in December. Dalal spent over two decades at Wipro, where he joined as a manager at its treasury operations and most recently held the position of president and CFO.

Stock Market Today: Domestic equity benchmarks Sensex and Nifty gave up initial gains and settled lower on Thursday, September 28, tracking volatility on F&O expiry and dragged by weak global cues. The Nifty 50 closed at 19,523.55, down 192.90 points, or 0.98 per cent.

Meanwhile, the market capitalisation of all listed companies on BSE declined by Rs 1.82 lakh crore to Rs 317.79 lakh crore. Among Sensex stocks, Tech Mahindra, Asian Paints and M&M were the top laggards, falling 3-4%. ITC Titan, Wipro, HUL, and Infosys also declined.

Zee Entertainment Enterprises Ltd. slipped 1.72 per cent to Rs 257.05 in Thursday's trade. It hit a high of Rs 263.5 and low of Rs 255.8 during the session.

Pidilite Industries Ltd. traded 1.86 per cent down in Thursday's trade at 01:39PM (IST). Around 16,223 shares changed hands on the counter.