NIFTY Financial News

«Overall, we would suggest investors to shift their focus from mid and small caps to large caps in the near term, as the risk-reward is favourable over there,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded 36 points, or 0.18 per cent, at 20,182, signaling that Dalal Street was headed for positive start on Thursday.

Indian stock market is expected to open higher on Thursday following positive global cues. Gains in Asian markets after the US stock indices closed mixed overnight, may support domestic equities. On Wednesday, the domestic equity indices ended higher due to upbeat macroeconomic data amid global signals being subdued.

Buy or sell stocks for today: Despite weak global market sentiments, key benchmark indices of the Indian stock market ended higher on Wednesday. NSE Nifty ended above 20,000 for the first time ever at 20,070 levels, logging an intraday gain of 76 points.

NEW DELHI : After a weak start, the markets rebounded well on Wednesday, with Nifty gaining 0.38% and closing above the 20000-mark for the first time, supported by softer inflation data and strong production numbers despite weak global cues. While Nifty ended the day at the record closing high of 20070, Sensex, with gains of 0.38%, closed at 67466.99 and is inching close to its all-time high of 67619.17 seen in July. The mid- and small-caps, which had seen significant corrections on Tuesday, also ended with gains.

Here's how analysts read the market pulse: «The domestic indices resumed their upward trajectory despite weak global cues. The cooling of domestic CPI inflation to 6.83% in August and the rise in industrial production data reaffirmed the robustness of the Indian economy.

macroeconomic data. The domestic institutional investors (DIIs) were net buyers again and invest ₹850 crore in Indian stocks today. As per the NSE data, FIIs cumulatively bought ₹10,375.25 crore of Indian equities, while they sold ₹12,006.88 crore --- resulting in an outflow of ₹1,631.63 crore.

Steel Authority of India (SAIL), India Energy Exchange (IEX), Manappuram Finance, India Cements, Delta Corp, National Aluminium Company, REC Ltd, Hindustan Copper, Indiabulls Housing Finance are the nine stocks that are a part of the F&O ban list by the stock exchange for Thursday. The NSE updates the list of securities in F&O ban for trade everyday. The derivative contracts in the mentioned securities have crossed 95 per cent of the market-wide position limit and have been currently put in the ban period by the stock exchange, said NSE.

Nifty PSU Bank index hit a fresh 52-week high on Wednesday, September 13, jumping over 4 per cent to 4,948.55 by the end of the session. PSU bank shares have climbed more than 10 per cent so far in September alone, pushing its sectoral index to multi-year highs. The 12-pack index of public sector undertaking (PSU) bank shares is trading with gains led by Punjab National Bank, rallying as high as 9 per cent today.

IPO) to Rs 730 crore ($88 million) from Rs 1,000 crore an updated prospectus showed. The IPO comprises a fresh issue of shares worth Rs 6.03 billion and Rs 1.27 billion worth of shares being offered by the company's existing shareholder International Finance Corporation, a World Bank Group member, according to the prospectus dated September 12. «A high-interest rate environment to tackle inflation poses a major challenge to both homebuyers and developers...believe these are among the reasons Signature Global would have reduced offer size,» said Prashanth Tapse, senior vice president of research at Mehta Equities. The company develops residential, commercial and retail projects mainly in the northern cities, including Gurugram, Karnal and Ghaziabad. Its consolidated loss after tax narrowed to Rs 638.6 million for the financial year ended March 31 from Rs 1.16 billion a year earlier. Revenue from operations surged more than 72% to Rs 15.54 billion. The offering comes at a time when benchmark index Nifty 50 scaled record highs, aided by the inflow of funds from foreign and domestic investors. Signature joins companies like Mankind Pharma and Aeroflex Industries, which recently made stellar debuts on improved domestic appetite for new listings. ICICI Securities, Axis Capital and Kotak Mahindra Capital were book-running lead managers for Signature Global's IPO. The bidding date for anchor investors is set for Sept.

Nifty brushed aside pessimism from the previous session and saw increased buying activity in various sectors on Wednesday, September 13, over upbeat macroeconomic data. Sensex finally closed with a gain of 246 points, or 0.37 per cent, at 67,466.99 while the Nifty ended 77 points, or 0.38 per cent, higher at 20,070.

macroeconomic data. This happened despite global signals being subdued, with anticipation building around the US inflation figures, which will influence expectations regarding US interest rates. Consumer Price Index (CPI)-based inflation, or retail inflation, moderated to 6.83 per cent in August from a 15-month high of 7.44 per cent in July, thanks to a fall in vegetable prices.

Max Healthcare Institute Ltd. traded 4.93 per cent lower in Wednesday's session at 02:05PM (IST).

Havells India Ltd. traded 0.76 per cent down in Wednesday's trade at 01:49PM (IST).

Adani Power Ltd. slipped 2.49 per cent to Rs 376.5 in Wednesday's trade.

Page Industries Ltd. traded 2.33 per cent lower in Wednesday's session at 01:34PM (IST).

Rohit Srivastava, Founder & Market Strategist, Indiacharts.com, says For the midcap index, the reading was at around 89 on the day before’s close. Yesterday's closing, it has come back to 63 and right now live, it is trading at 60. For the small cap index, the similar thing would be the day before, it would have been at 87.98. After yesterday's close, it is down to 59 and right now also it is at around 59. As mid and smallcap indices are coming very close to the 20-day moving average, we will expect them to get support and bounce back over the next couple of days.”Yesterday's fall and today's follow-up activity, how do you read it?This is part of a minor correction in what is a bigger trend in favour of mid and smallcaps. We have to view it from both the short term time horizon and the long term time horizon. In the short term, indicators like the RSI is hitting overbought but what that usually means is we get a one day knee-jerk reaction, maximum two days and then that is it, because then it takes only two days for the RSI to come off from something like 85-87 which is an extremely overbought state to something like a 65-66 or even 60 which we have already seen yesterday and are further seeing today. Both the mid and smallcap indices now are coming very close to the 20-day moving average and that is more significant because that is where we will expect them to get support and bounce back over the next couple of days.

valuations. The small cap mutual fund category has given an average return of 24.95% in this year so far. The category offered around 26.53% returns in six months. Mutual fund managers and advisors have been cautioning investors about imminent corrections in the small cap segment after the indices soared very high over a short period of time. There were around 24 schemes in the small cap category. Quant Small Cap Fund lost the most of around 3.95% in the one-day horizon. DSP Small Cap Fund, and Mahindra Manulife Small Cap Fund lost around 3.57%. ITI Small Cap Fund and Bandhan Emerging Businesses Fund lost 3.40%.

The correction which the nifty and sensex has been witnessing for the last six weeks was finally felt by the large majority of the street on Tuesday. The reason after the last few months of the sharp rally, mid-cap indices and stocks witnessed a sharp correction.

PI Industries Ltd. traded 0.06 per cent up in Wednesday's trade at 12:02PM (IST).

Pidilite Industries Ltd. slipped 0.47 per cent to Rs 2476.6 in Wednesday's trade as of 12:08PM (IST). The stock hit a high price of Rs 2489.75 and low of Rs 2455.0 during the session. The return on equity (ROE) for the stock stood at 17.76 per cent.

Pankaj Murarka, CIO, Renaissance Investment Managers, says “The Nifty index trading at about 20 times current year earnings is reasonable in the context of the strong earnings growth that we are witnessing. From here on, much of the gains on the indexes are done and markets will be more stock specific in that sense. And some correction at this level is pretty healthy for the medium term health of the market.”Going by the exceedingly volatile moves that we have witnessed in the broader markets, from the March lows first we have seen a meteoric rise and then yesterday, things were clearly shaken up. Is that an instance of the direction that the broader markets are headed in?We have had a phenomenal rally in the last six months and so a correction was probably much warranted and it is a healthy correction for the market because there are pockets of markets where we have seen stock prices have clearly run ahead of fundamentals and there has been a fair degree of exuberance or froth in midcap smallcap space. So, correction is much warranted. Aggregate markets are still reasonably priced.