NIFTY Financial News

Investing.com-- Most Asian stocks drifted lower on Thursday, extending recent declines amid persistent fears of higher U.S. interest rates, while Chinese stocks fell on renewed concerns over the country’s beleaguered property market. 

“We are hoping that 2024 will be a breakout year for India in terms of flows with more tailwinds than headwinds,” says Harendra Kumar, Managing Director, Elara Securities India. In an interview with ETMarkets, Kumar said: “There is always some tactical money that finds its way in/out of India during some macro headwinds. There is more money waiting to come in, than to go out” Edited excerpts: After hitting 20,200 on the Nifty50, the market is going through some healthy consolidation. In terms of global overhang, we have the US Fed outlook, a rise in Dollar index, crude, and recent Canada comments. Have we made a top? The Nifty was around 18500 in Oct 2021, and it has taken us two years to reclaim the top — so it is hardly a euphoric event, except that it is a headline moment.

Sensex closed 173.22 points higher at 66,118.69, while the Nifty 50 gained 51.75 points to end at 19,716.45. Nifty formed a long bull candle on the daily chart with a long lower shadow. “Technically, this market action is indicating a formation of a bullish engulfing pattern.

Sensex rose 173 points to settle at 66,118, while the broader Nifty gained 51 points to end at 19,716. Stocks that were in focus included names like REC, which rose 6.06%, Suzlon Energy, which dropped 1.54%, and Hudco, whose shares jumped 2.63% on Wednesday. Here's what Amol Athawale, VP technical research analyst at Kotak Securities, recommends investors should do with these stocks when the market resumes trading today. REC — Neutral In this quarter so far, the stock rallied over 70%. After the 170 breakout the stock consistently held higher high and higher low series formation, which is largely positive. Last Wednesday, the stock rallied over 6% and hit a fresh all time high of 285.95.

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«Markets saw some respite after the previous day’s sell-off but the pressure still continues given several concerns regarding rising interest rates, crude oil prices, and growth concerns in China,” 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 positive start GIFT Nifty on the NSE IX traded higher by 14 points, or 0.07 per cent, at 19,838.5, signaling that Dalal Street was headed for positive start on Thursday.

Buy or sell stocks for today: After recovering from early morning sell off, Indian stock market ended higher on Wednesday. Nifty 50 index finished 51 points higher at 19,716 levels whereas BSE Sensex gained 173 points and closed at 66,118 mark.

Vedanta shares tumbled 6.9% in Wednesday's trading after rating firm Moody's downgraded the corporate family rating (CFR) of UK-based parent Vedanta Resources. Analysts said concerns over the group's debt burden and volatile metal prices due to global headwinds could weigh down the stock in the near term. The stock closed at ₹208.95 on the BSE on Wednesday, after hitting a 52-week low of ₹208. «Vedanta Resources has been struggling to refinance its upcoming debt maturities worth $2 billion maturing during the next year,» said Jayesh Bhanushali, lead-research at IIFL.

stock price trends are a crucial aspect of picking their next bet face a tricky task in deciding what is in store for the Bank Nifty index for the rest of the year. Over the last 10 years, the index has gained in seven instances between October and December.

Nomura has upgraded its ratings on India to 'overweight' as it sees the recent 'softness' in the stock market driven by higher oil prices as an opportunity to raise bets here. The firm's top stock picks in India include ICICI Bank, Axis Bank, L&T, Reliance Industries, ITC, Medplus Health, and Uno Minda. «We see recent softness driven by higher oil prices as an opportunity to raise exposure,» said Nomura's analysts including Chetan Seth, Anshuman Agarwal, and Ankit Yadav in the firm's Asia strategy note to clients.

Incred Equities has reiterated 'overweight' rating on the Nifty with a target of 21,103, implying an upside of over 7% from Wednesday's closing of 19,716. The recent correction has made valuation of large-caps attractive, while the premium valuation of the mid-cap index is a concern, said the firm's head of equity research Pramod Amthe in a note.

Click here! Meanwhile, domestic equity benchmarks Sensex and Nifty snapped a six-day losing streak and settled higher on Wednesday over strong macroeconomic indicators and positive trends in Asian markets. The frontline indices however, opened in a negative territory tracking weak global cues and rebounded in the second half of the session.

Nifty on Wednesday formed a bullish reversal pattern near the 50-day SMA (simple moving average), which indicated strong possibility of fresh uptrend rally from the current levels. For the traders now, 19630 would act as a key support level. Above which, the market could continue the positive momentum till 19800-19825.

On the BSE, Ganga Pharmaceutical(down 19.95 per cent), Sakuma Exports(down 18.15 per cent), O P Chains Ltd.(down 16.00 per cent), New Light Apparels(down 15.99 per cent) and Alacrity Sec(down 13.97 per cent) stood among the top losers in today's trade. In the Nifty pack, 31 stocks closed in the green, while 19 stocks ended in the red.

The 30-share BSE benchmark Sensex recovered 570 pts from day's low and settled at 66,118, rising 173 points or 0.26%. The broader NSE Nifty surged 52 points or 0.26% to end at 19,716. From the Sensex pack, L&T, ITC, and Sun Pharma were the top gainers, rising 1.5-2%.

Stock Market Today: Domestic equity benchmarks Sensex and Nifty recouped losses snapping a six-day losing streak and settled higher on Wednesday, September 27 on resilient macroeconomic indicators. The Nifty 50 closed at 19,728.25, up 63.55 points, or 0.32 per cent.

₹500 crore+ hits - Gadar 2 and Jawan - one ₹300 crore+ movie - Jailer - and five ₹100 crore+ movies. There were several other regional hits in sub- ₹100 crore bucket as well. Moreover, the pipeline of Hindi and regional movies over the next 3-6 months appears healthy, with potential hits such as The Vaccine War (September 28), Tiger 3 (November 10), Animal (December 1), Dunki (December 22) and Fighter (January 25) in Hindi and Salaar and Leo (October 19) in regional.

Adani Power Ltd. slipped 0.74 per cent to Rs 374.65 in Wednesday's trade as of 12:53PM (IST). The stock hit a high price of Rs 378.85 and low of Rs 373.75 during the session.

NSE) said it has sought Sebi's approval to add another evening session from 6-9 pm. While longer trading hours mean more revenue for exchanges due to increase in volumes, derivative traders fear that their work-life balance may go for a toss. «Prima facie an average F&O trader, is less likely to warm up to the idea of the evening session as it eats into one’s personal time and space, which is essential for research and planning or more importantly time off the market for recharge and introspection,» said Anand James, Chief Market Strategist at Geojit Financial Services. NSE wants to extend trading hours in a gradual manner, depending on the feedback from market participants, including FIIs and brokers. As of now, there are no plans to tweak the timings of the cash segment as the second session would be meant only for index future and options. The exchange's rationale is that the extension will give traders a chance to react to global events.

Havells India Ltd. slipped 0.04 per cent to Rs 1399.15 in Wednesday's trade as of 12:58PM (IST). The stock hit a high price of Rs 1400.0 and low of Rs 1388.55 during the session.

InterGlobe Aviation Ltd. slipped 0.29 per cent to Rs 2397.4 in Wednesday's trade as of 12:33PM (IST). It hit a high of Rs 2411.5 and low of Rs 2384.55 during the session.