NIFTY Financial News

Exide Industries Ltd aims to capitalize on these opportunities by venturing into lithium-ion cell manufacturing. Investors have given a thumbs up. Exide’s shares have risen by nearly 52% so far in 2023, versus the 9.5% gain in the Nifty 50 index.

Nifty displayed strength, primarily driven by strong demand for large-cap stocks. The overall trend remained robust as the index consistently stayed above a critical moving average. However, a significant hurdle for the Nifty came in the form of substantial Call writing at the 19900 strike price.

RIL, Canara Bank and Tata Motors DVR are top 3 trading ideas of the week by Kunal Shah, Senior Technical & Derivative analyst at LKP Securities. "Reliance Industries has recently experienced a breakout on the daily chart, accompanied by a significant surge in trading volumes. This breakout suggests renewed bullish momentum in the stock," he says. Edited excerpts from an interview:Given the broad-based buying seen in the market last week, do you think Nifty will easily scale the 20,000 peak ignoring all the concerns around the spike in crude oil price and dollar? What are the targets?The market is currently characterized by bullish momentum, driven by increased participation from large-cap stocks.

option strategies, explaining Tara the concepts of Strangles and Short Strangles. She also pointed out a significant drawback of short strangles, where a trader is exposed to unlimited risk, and a substantial directional market move can seriously dent their trading capital. To address this concern, Maya suggested two alternative approaches to Tara: using stop-loss orders or transforming both sold options into credit spreads by purchasing far out-of-the-money (OTM) options. This transformation turns the short strangle into a well-known strategy known as Iron Condor.Iron Condor: Tara, intrigued by the idea, asked Maya to elaborate on the Iron Condor and its popularity. Maya, appreciating Tara's enthusiasm for exploring new trading strategies, gladly obliged.

global cues, Sensex and Nifty gained nearly 2% last week with all sectors participating in the broad-based rally which was backed by strong economic outlook and macroeconomic data such as robust GDP and PMI figures. Nifty is now just 172 points away from the all-time high of 19,992, made on July 20 and analysts are now eyeing 20,000 level this week itself. «In the broad market, mid- and small-cap stocks attracted strong buying interest, even though their valuations were relatively high. Moreover, heightened order inflows made sectors like infrastructure and realty particularly attractive to investors during the week,» said Vinod Nair, Head of Research at Geojit Financial services. Here are top 5 factors that may sway the market mood in the week:

macroeconomic data, crude oil prices, global cues, and more. Despite the US 10-year bond yield surpassing 4.3 per cent, the dollar index reaching above 50, and Brent crude trading at over $90, the Indian market displayed remarkable resilience last week. Frontline indices Sensex and Nifty settled higher for the sixth consecutive session on Friday, despite a cautious global market.

macroeconomic data, while sustained buying by domestic investors and the possibility of a pause in rate hikes by the US Federal Reserve added to the rally, despite a poor monsoon, a strong US dollar, higher bond yields and a surge in crude oil prices. In this week, the Nifty50 gained 1.97 per cent or 384.7 points to close at 19,820, while BSE Sensex added 1.85 per cent or 1,211.75 points to close at 66,598.91.

Investor interest seems to be insatiable in PSU stocks, be it defence, shipping or even banking. Many of the PSU defence and shipping stocks have turned out multi-baggers, be it BEL, BHEL, Coal India, HAL, NHPC, NTPC, PFC, REC, Mazagon Dock, to name a few, says Aamar Deo Singh, Head Advisory at Angel One. At current levels, fresh entry might not work in favour of proper risk-reward, so rather one should wait for correction, to look at fresh entry, he adds.Are you surprised with the start of the September series considering all the negativity of the August series? Markets are always filled with surprises but if one is on the right side of the trend, the surprises could be pleasant.

«Short covering was clearly visible on 19,700 strike, that was the major call concentration area. So, that short covering is clearly indicating that now base is shifting higher towards 19,600-19,700, put writers are now acting as writing positions are taking place around those levels,» says Rajesh Palviya, Axis Securities.19,800 is what we have scaled past and also on the Bank Nifty, 45,100 is where we have touched. So, going ahead, what are the targets coming in for Nifty 50, 20,000, are we very close to that? Definitely. So, the kind of momentum we have witnessed throughout the week is clearly indicating that yes, we are heading towards the 20,000 mark. Yes, possibly in the coming week, we are going to scale up to the level of 20,000 or we can surpass that level also. Very strong buying action across the sector has been there.

After gaining an average of 14% this week and more than 30% in the last one month, railway stocks may now come under some profit booking pressure. «4 out of 5 major railway stocks like RVNL, IRFC, IRCTC and Railtel are overbought with RSI above 75. Even though the outlook for these stocks remains bullish, expect some profit booking in the near term before the bulls regroup,» said Anand James, Chief Market Strategist at Geojit Financial Services. Edited excerpts from an interview: Given the broad-based buying seen in the market this week, do you think Nifty will easily scale the 20,000 peak ignoring all the concerns around the spike in crude oil price and dollar? What are the targets? Seven weeks after coming off from the record peak in December 2022, Nifty is back within its vicinity, with a weekly close above the 7-week SMA. Further, with just 23% of NSE 500 stocks in the 5% vicinity of their respective all-time highs, the market is only in the initial stages of a broad based rally. We are confident of continuation of uptrend, with Nifty’s upside target raised to 21200. Nifty PSE and Nifty CPSE stocks were the top performers in the week. Do you see any signs of the PSU indices being at an overbought stage?

recovery. The Nifty IT index, which had declined by 14 percent between April 1, 2022, and August 31, 2023, has shown signs of improvement since September 1, 2023, with a 4.11 percent increase. One critical factor in this recovery is the reduction in attrition rates reported by IT companies during Q1FY24, signifying improved knowledge retention and cost savings from reduced employee turnover. Furthermore, major Indian IT firms have secured multi-billion dollar IT services deals in recent months, bolstering their revenue prospects for the remainder of the year. As we enter the second half of the year, several factors shed light on why the Indian IT sector is displaying signs of reversal and the potential beginning of a rally.

Ratnaveer IPO: After announcement of Ratnaveer IPO allotment status, listing date for the initial public offering (IPO) of Ratnaveer Precision Engineering Ltd has been fixed on 11th September 2023. As per the BSE notice, effective from Monday, September 11, 2023, the equity shares of Ratnaveer Precision Engineering Limited shall be listed and admitted to dealings on the Exchange in the list of 'T' group of securities. Further in terms of SEBI circular No.

Buy or sell stocks: Despite weak trends from global market cues on rising China-US tension, Indian stock market finished higher on sixth day in a row. NSE Nifty gained 92 points and closed at 19,819 levels, registering best week in the last two months. BSE Sensex finished 33 points higher at 66,598 mark whereas Bank Nifty index ended 278 points up at 45,156 levels.

Top Performing Mid Cap Mutual Funds in 1 Year: Several Mid Cap Mutual Fund schemes have given over 20% returns in 1 year till September 5, 2023, according to data on the website of the Association of Mutual Funds in India. Data shows that the direct plan of 11 mid-cap schemes has given over 23% returns while the top-performing scheme in the one-year duration till September 5 has given 33% return.

indices extended their winning run for the sixth straight day on Friday, bucking the weakness in other Asian markets, as gains in private lenders and power companies helped the market maintain the bullish momentum. The Sensex and Nifty closed at the highest level since July 20 and posted their biggest weekly gains in six weeks. The Sensex rose 333.35 points, or 0.50%, to close at 66,598.91.

market capitalisation on prospects of winning a nearly $4-billion order from Saudi Aramco. This deal win is seen helping the engineering major clock in an over 20% growth in its order inflows in FY24, as against a guidance of 15%. Among the leading gainers on the Nifty 50, the shares closed nearly 2% higher at ₹2,901.60 on Friday. The order win from Saudi Aramco is reportedly for the second expansion phase of its Jafurah unconventional gas production project, and will be executed by L&T Energy Hydrocarbon.

₹9,850 crore of Indian equities, while they sold ₹10,074.71 crore --- resulting in an outflow of ₹224.22 crore. Meanwhile, DIIs infused ₹8,324.05 crore and offloaded ₹7,173.90 crore, registering an inflow of ₹1,150.15 crore. In September so far, FIIs have sold in the cash market for ₹8,608 crore and DIIs have bought for ₹5,715 crore.

₹2,000 notes into banks after the central bank decided to withdraw the high value notes in May. The removal frees up money which can be lent, which is seen as a positive for banks.

The NSE Nifty index ended the session 92.9 points up at 19819.95, while BSE Sensex rose 333.35 points to 66598.91. In the Nifty index, Coal India Ltd.(up 2.96 per cent), NTPC Ltd.(up 2.63 per cent), Bharat Petroleum Corporation Ltd.(up 2.07 per cent), Tata Motors Ltd.(up 2.01 per cent) and Larsen & Toubro Ltd.(up 1.94 per cent) stood among the top gainers. On the other hand, Eicher Motors Ltd.(down 0.93 per cent), UPL Ltd.(down 0.90 per cent), Apollo Hospitals Enterprise Ltd.(down 0.87 per cent), UltraTech Cement Ltd.(down 0.76 per cent) and ITC Ltd.(down 0.73 per cent) were among the top losers of the day.

The NSE Nifty index closed 92.9 points up at 19819.95, while BSE Sensex ended up 333.35 points at 66598.91. On the other hand, Eicher Motors Ltd.(down 0.93 per cent), UPL Ltd.(down 0.90 per cent), Apollo Hospitals Enterprise Ltd.(down 0.87 per cent), UltraTech Cement Ltd.(down 0.76 per cent) and ITC Ltd.(down 0.73 per cent) were among the top losers of the day.

Benchmark NSE Nifty closed 92.9 points up at 19819.95 amid buying in frontline bluechip counters. However, stocks such as Penta Gold, Sandur Manganese, Brookfield India Rea, Parin Furniture and Mohini Health & Hygi, touched their fresh 52-week lows. Overall, 32 shares ended in the green in Nifty50 index, while 18 closed in the red. In the Nifty 50 index, Coal India Ltd, NTPC, BPCL, Tata Motors and L&T were among top gainers during the day, while Eicher Motors, UPL, Apollo Hospital, UltraTech Cem.