NIFTY Financial News

Harshad Patwardhan, CIO at Union Asset Management Company (AMC) Private Limited, believes that the overall market valuations are reasonable. However, there are pockets of overvaluation in select segments and they can be vulnerable to any sudden change of sentiment. In an interview with Mint, he shared his views on the markets, economy and interest rate trajectory, among others. To understand the current behaviour of the market in a proper context, let’s first review how the market behaved in the earlier phase.

Devang Mehta, Director – Equity Advisory, Spark Private Wealth, says “we have been maintaining that HDFC Bank is going to now enjoy the economies of scale. The synergies of HDFC and HDFC Bank which now becomes a sort of behemoth or a conglomerate in terms of its banking strengths as well as housing finance strengths. Both of them as they are integrated together and HDFC will benefit from lower cost of funds from HDFC Bank and get to use each other's synergies as well. ”Do you see the return of the banking names and if yes, which stocks will lead the rally?There are a plethora of factors which I was just looking at when you talk about the banking index or banking stocks. On the fundamental front, if one can argue, in 2018, in the entire banking system collectively the NPAs were roughly around 11% and now this is roughly around 4% with extremely strong credit growth, extremely strong capex, government induced capex as well as private sector induced capex.

Delta Corp, Hindustan Copper, The India Cements, Indiabulls Housing Finance, Manappuram Finance, Punjab National Bank (PNB) and Steel Authority of India (SAIL). The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban. For BHEL, MWPL stood at 103.8% on Monday with OI reported by Trendlyne at 81 million. It was up 3.7% from the previous session. The MWPL for Delta Corp stood at 90.4% with OI at 15.2 million.

Sensex jumped 528 points to regain the 67,000 level, while Nifty scaled record 20,000-mark for the first time as robust buying by domestic investors helped equity markets extend the winning run to the seventh straight session on Monday. Stocks that were in focus included names like Tata Power, which rose 6.67%, Natco Pharma, which fell 8%, and Coffee Day, whose shares declined 14.88% on Monday. Here's what Riches Vanara, Technical And Derivatives Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.Vodafone Idea — Sell on riseStock is showing stupendous momentum from the last several weeks and making new highs every week. However we feel stock has approached the resistance area from where it has reversed multiple times. The stock is also approaching its 200 WEMA and it seems crossing it will be not easy. Hence, the stock will be a sell on rise candidate for targets of 10.50 and 9.60 with stop above 13.Natco Pharma — SellWe have seen a gap down opening after facing resistance at 61.8% fibonacci retracement level and it has also violated 50% retracement level calculated from previous pick to latest low. The stock is getting some supply pressure from higher levels and momentum indicators MACD and 14 RSI compliments the supply pressure.

Jupiter Hospital IPO: After closure of three days bidding, investors and market observers are eagerly waiting for Jupiter Hospital IPO allotment date, which is most likely on 13th September 2023 i.e on Wednesday. However, after announcement of share allocation, a bidder will be able to check Jupiter Hospital IPO allotment status online by logging in at BSE website or at the website of official registrar of the book build issue.

Buy or sell stocks for today: On account of strong global cues, Dalal Street extended its rally for seventh straight session on Monday. NSE Nifty climbed to record 20,000 peak and climbed to a new life-time high of 20,008 levels. BSE Sensex reclaimed 67,000 levels and closed at 67,127 mark.

Nifty up more than 70 points from Monday's close on Nifty Futures and tracking positive global cues. Asian stock markets slid sideways, while the US stock market indices ended higher overnight. On Monday, Nifty and Sensex ended in the green for the sixth day in a row, each one gaining nearly 3%.

₹ 2,069.50 crore into RRVL, a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of ₹ 8.361 lakh crore, which makes it among the top four companies by equity value in the country.KKR’s follow-on investment will translate into an additional equity stake of 0.25% in RRVL on a fully diluted basis. This, combined with its stake from its investment of ₹ 5,550 crore in RRVL in 2020, will take its total equity stake in RRVL to 1.42% on a fully diluted basis.

Day trading guide for today: Following strong global market sentiments, Indian stock market ended higher for seventh straight session on Monday. NSE Nifty advanced for the seventh straight day to log the best stretch of gains in 11 weeks and touched the all time high of 20,008 levels.

equity indices soared to record closing levels on Monday with the Nifty crossing 20,000 for the first time, albeit briefly, as investors and traders continued to ride the recent bullish wave that has catapulted various stocks to multi-year highs. All bets are still on the stock market extending its winning run with domestic flows showing no signs of ebbing.

investments in plain vanilla equity products — especially those investing in mid- and small-caps. Investors, who still do not want to miss the equity buzz, may consider hybrid mutual fund schemes, like balanced advantage funds, which invest in a mix of stocks and bonds and alter the investments based on the valuations; or opt for long-drawn Systematic Investment Plans (SIPs) in equity plans. In the past six months, the Nifty 50 has moved up by 15.5%, while the Nifty Microcap 250 has jumped 57%.

equity (RoEs) for the Nifty 50 index has recently surged above the 15% threshold, marking a milestone after a decade.

₹202.45 billion from July. Small- and mid-cap schemes were in favour, with their combined inflows exceeding ₹67 billion in August, compared with ₹57 billion in July.

MUMBAI : Investors added ₹3.37 trillion in wealth on Monday as National Stock Exchange (NSE) of India Ltd’s Nifty index breached the psychologically significant 20,000 mark before ending trading slightly lower. The index soared to an intraday high of 20,008.15 before ending at a record 19,996.35, surpassing its previous high of 19,991.85 made 36 sessions earlier amid persistent institutional flows.

MUMBAI : Rajiv Jain-led US-based boutique investment manager GQG Partners Llc, on Monday, acquired an additional 5.1 crore or 0.76% stake in private lender IDFC First Bank Ltd from V. Vaidyanathan, MD & CEO of the bank, for ₹478.7 crore through block deal on the exchange. GQG Partners increased its stake in IDFC First Bank to 3.36% with an additional purchase of 5.1 crore shares.

₹1,473.09 crore from the market. FII bought shares worth ₹11,469.51 crore and sold around ₹9,996.42 crore in the market. Maintaining a consistent streak, Domestic Institutional Investors (DII) pumped in shares worth ₹366.24 crore in the market.

global market, domestic benchmark indices ended in the green for the sixth day in a row, each one gaining nearly 3%. The dollar, Treasury yields, and US stock futures all declined as speculation mounted that the US Federal Reserve will decide to leave interest rates unchanged at its September meeting. While the Sensex closed, major European markets such as the UK's FTSE, France's CAC, and Germany's DAX traded with large losses.

Stock market today: After a gap of 36 sessions, NSE Nifty climbed to a new peak of 20,008 during Monday deals. However, the 50-stock index took 52-sessions to race from 19,000 to 20,000 peak. While Nifty rallied to 20,000 peak, BSE Sensex too regained 67,000 mark.

On the BSE, City Pulse Multiplex(down 14.70 per cent), Coffee Day Ent(down 14.57 per cent), Chandra Bhagat Pharm(down 14.00 per cent), Ambo Agritec(down 10.56 per cent) and UTL Industries (down 10.00 per cent) stood among the top losers in today's trade. In the Nifty pack, 46 stocks closed in the green, while 4 stocks ended in the red. The index closed 176.4 points up at 19996.35. On the BSE, Sarda Proteins, Ritesh Intnl, Corp Courier, Voltaire Leas and Concrete Credit Ltd. hit their fresh 52-week lows, while ITI Ltd, SJVN, Creative Casting, Ircon Intl.

The NSE Nifty index closed 176.4 points up at 19996.35, while BSE Sensex ended up 528.17 points at 67127.08. On the other hand, Coal India Ltd.(down 1.12 per cent), Oil And Natural Gas Corporation Ltd.(down 0.57 per cent), Bajaj Finance Ltd.(down 0.26 per cent), Larsen & Toubro Ltd.(down 0.26 per cent) and IndusInd Bank Ltd.(down 0.09 per cent) were among the top losers of the day.

rupee ended weaker on Monday despite a rally in the Chinese yuan and a softer U.S. dollar as the domestic unit's strength was capped by dollar demand from oil companies and importers, traders said. The rupee ended at 83.03, compared with 82.9450 in the previous session.