NIFTY Financial News

Nifty is likely to see a gap-down opening on Wednesday amid weak global cues. The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading lower at around 19,389 level as compared to Nifty futures’ Monday’s close of 19,471.

Buy or sell stocks for today: In this truncated week at Indian stock market, Dalal Street will resume trade session today after a gap of one day as stock market was closed on Tuesday for Independence Day 2023. On Monday, Nifty and Sensex recovered from morning losses and ended marginally higher. NSE Nifty finished 6 points higher at 19,434 levels, BSE Sensex gained 79 points and closed at 65,401 mark whereas Bank Nifty index lost 108 points and finished at 44,090 levels.

ITC Ltd exceeded market expectations on Monday by reporting a robust 17.5% surge in its standalone net profit for the June quarter, benefiting from reduced expenses. Nonetheless, the company faced challenges as an ongoing prohibition on wheat exports and a more recent ban on rice exports led to a 7.2% decline in standalone revenue for the quarter, which amounted to ₹16,995.49 crore as compared to ₹18,320.16 crore in the corresponding period last year.Renowned for its Gold Flake cigarettes and Bingo chips, ITC Ltd achieved a net profit of ₹4,902.74 crore for the quarter ending on June 30, surpassing the ₹4,169.38 crore recorded a year prior.

«Market is witnessing consolidation at higher levels in the absence of any positive trigger. We expect this trend to continue in the near term as a series of macro data around the world and FOMC meeting minutes will be released during the week which could keep markets subdued,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19000 to 19800 zones while an immediate trading range in between 19200 to 19600 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative startGIFT Nifty on the NSE IX traded 88.5 points, or 0.45 per cent, lower at 19,385.50, signaling that Dalal Street was headed for negative start on Wednesday.

Indian stock market is likely to open lower on Wednesday tracking weak global cues amid overnight selloff in the US equities. Concerns that interest rates may remain higher for a longer time dampened investors' sentiment. On the domestic front, Indian markets were shut on Tuesday on account of the Independence day holiday.

Buy or sell stocks for today: In this truncated week on Dalal Street, Indian stock market will resume trade session today after a gap of one day as stock market was closed on Friday for Independence Day 2023. On Monday, Nifty and Sensex recovered from morning losses and ended marginally higher.

MUMBAI — The Indian banking sector exited its worst-ever downcycle after Covid, which led to a major clean-up in the balance sheet across the board. But it’s public sector banks that have seen an almost 360 degree shift in earnings performance, and this reflects in the stock prices, as many of them turned multibaggers since the pandemic. Despite the rally, many of the PSU banks are still reasonably valued, believes P Krishnan, CIO and Managing Director, Spark Asia Impact Managers.

diverse workforce, India's top corporates have only three persons with disabilities ( PwD) for every 1,000 employees on rolls, an ET analysis showed. According to latest workforce data reported by Nifty 50 constituent companies as part of their annual disclosures, only five out of these 50 companies have more than 1% people with disabilities on their rolls, with four of them being public sector companies. To be sure, public sector companies are required to reserve 4% of all jobs for disabled people in compliance with the Rights of Persons with Disabilities Act, 2016 — a target which all the analyzed companies fall short of.

MUMBAI : Amid expectations of heightened market turbulence in the wake of India’s surging retail price inflation and slowing merchandise exports, which impacts the rupee, FPIs have turned net sellers of Indian stock futures of a significant quantity in just four days, a rare occurrence, according to market experts, who see this as a move to hedge their profits against a falling market. From being cumulatively net long 19,130 stock futures contracts on 9 August, they turned net sellers of 83,366 contracts on 14 August, during which period the Nifty shed a percent or 198 points through Monday’s closing of 19435.55.

Zee Entertainment Enterprises, Granules India Ltd, India Cements Ltd, Chambal Fertilizers and Chemicals, Gujarat Narmada Valley Fertilizers And Chemicals Limited, Manappuram Finance, Delta Corp, Balrampur Chini Mills, Indiabulls Housing Finance are the nine stocks that are a part of the F&O ban list by the stock exchange for Wednesday. 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.

MUMBAI : Amid expectations of heightened market turbulence in the wake of India’s surging retail price inflation and slowing merchandise exports, which impacts the rupee, FPIs have turned net sellers of Indian stock futures of a significant quantity in just four days, a rare occurrence, according to market experts, who see this as a move to hedge their profits against a falling market. From being cumulatively net long 19,130 stock futures contracts on 9 August, they turned net sellers of 83,366 contracts on 14 August, during which period the Nifty shed a percent or 198 points through Monday’s closing of 19435.55.

Life Insurance Corporation of India (LIC), is set to receive a huge amount of more than ₹1,800 crore as dividend. ITC has around 30.14 lakh shareholders as per the data till quarter ending June 2023. Among these shareholders, LIC owns 189.69 crore ITC shares, or 15.26% stake in the cigarettes-to-hotels major.

The fall in Sensex and Nifty of the last four weeks may have caused a loss to traders. But for the bottomline of stock exchanges and bank-end service providers to that transaction, it does not matter.

equity market witnessed decent gains since the last Independence Day amid sticky inflation, continuous rate hikes and a deteriorating global macroeconomic scenario. Thanks to India's robust macro indicators, the domestic market has shown remarkable resilience. "Domestic equity market has underperformed since last Independence Day with just 9 per cent returns as compared to long-term average annual returns of around 15 per cent," said G.

Nifty gained by 9.8%. On Monday trading session, Nifty 50 closed 6 points, or 0.03 per cent, up at 19,434.55. According to Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One, in the immediate future, a robust support range is identified at 19,000 - 18,800.

Narendra Modi said India will become the world’s third largest economy in five years. Looking at the year gone by, Indian stock market investors may have a reason for cheer. The benchmark index Nifty has rallied 9.81 since last year’s Independence day, or since 15th August 2022.

US Federal Reserve have raised its key policy rate by 500 basis points (bps) to take the Fed funds rate to 5.25%-5.50% in more than the last one year period. Following this, the Reserve Bank of India (RBI) has raised the repo rate by 250 bps (bps) since May 2022. As we celebrate the Independence Day 2023, let us take a look at the performance of key asset classes since the Independence Day of last year.

Andrew Holland, CEO, Avendus Capital, says “I do not think we are out of the woods yet. I would not be surprised if the Nifty was to go downward to around 19,000, it would be a good point to relook again. But at the moment, even though we remain in this small trading range, the risks are more to the downside, particularly because of the banking index.”Many are questioning whether the market is getting overheated or not. Some of the froth has definitely come off from the top. But do you think there is still a meaningful correction in store or this is just a temporary blip that one has seen and maybe the worst of it got over last week? I am not sure that the worst of it is over yet but it is a temporary blip in terms of the market fall.

Independence Day 2023: On 15th August 2023 i.e. on Tuesday this week, India is going to celebrate its 77th Independence day. This is an auspicious day to scrutinize one's achievements and failure during the year.

Indian stock market today. As per the list of stock market holidays in August 2023, trading on BSE and NSE will remain closed for the entire Tuesday’s session i.e. on 15th August 2023.

MUMBAI : The count of active retail investors participating in trades on India’s largest stock exchange, the NSE, hit a 10-month high of 9.7 million in July, driven by a widespread market rally, with mid and small-cap stocks outperforming the benchmark Nifty. A similar number of investors was last seen in September 2022, according to NSE data. In June, the figure stood at 8.9 million.