NIFTY Financial News

Provident Fund Organisation (EPFO) has invested a little over ₹2 lakh crore in exchange-traded funds since 2018-19, which accounts for its exposure in equity markets. The minister said out of a total corpus of ₹18.3 lakh crore, the EPFO has invested 8.7% in ETFs and 91.3% in debt instruments including those of Public Account of India. The Minister of State of Labour was speaking in response to a question on investment of EPFO fund.

Kunj Bansal, Investment-illiteracy.com, says “pharma is one sector which has remained neglected for the last 7, 8 years or so and which is where we seem to have been seeing the interest coming in partly or largely backed by the finally improving financial numbers, both in the US market as well as in the Indian market. I think that is where something similar can continue to remain an investment opportunity.”I guess Zee is where all the action is right now. News just in, the NCLT has approved the Zee merger with Sony India. They have dismissed all objections from creditors. The only overhang I guess now or the other event is that SEBI is yet to pass the final order against Subhash Chandra and Punit Goenka. But does now Zee become a buy for you?I wish I had such simple answers to such simple questions.

Shares of Sona BLW Precision Forgings(up 1.06 per cent), TVS Motor Company(up 0.72 per cent), Mahindra & Mahindra(up 0.69 per cent), TIINDIA(up 0.47 per cent) and Balkrishna Industries(up 0.38 per cent) ended the day as top gainers in the pack. On the other hand, Samvardhana Motherson International(down 2.89 per cent), Bharat Forge(down 1.31 per cent), Hero MotoCorp(down 0.78 per cent), Ashok Leyland(down 0.72 per cent) and Bosch(down 0.7 per cent) finished as the top losers of the day.

Madhya Bharat Agro Products(up 1.32%), Coromandel International(up 1.14%), Sikko Industries(up 0.90%), G S F C(up 0.60%), Agro Phos(up 0.59%), Deepak Fertilizers & Petrochemicals(up 0.58%), Madras Fertlizers(up 0.27%) and KRISHANA(up 0.21%) stood among the top gainers. ZUARIAGRO(down 6.74%), Nagarjuna Fertilizers & Chem(down 3.23%), Fertilizers & Chemicals Tranvancore(down 2.85%), Rama Phosphates(down 2.42%), Aries Agro(down 1.62%), Chambal Fertilisers & Chemicals(down 1.59%), Paradeep Phosphates(down 1.45%), Gujarat Narmada Valley Fertilizers (down 1.11%), Mangalore Chemicals & Fertilizers(down 0.58%) and Southern Petrochemicals Industries(down 0.54%) were among the top losers of the day.

Shares of IndusInd Bank(up 1.54 per cent) ended the day as top gainers in the pack. On the other hand, AU Small Finance Bank(down 2.16 per cent), Kotak Mahindra Bank(down 1.67 per cent), Bandhan Bank(down 1.51 per cent), Bank of Baroda(down 1.11 per cent) and Axis Bank(down 1.08 per cent) finished as the top losers of the day.

Kothari Sugars & Chemicals(up 4.93%), Rajshree Sugars & Chemicals(up 4.62%), BAJAJHIND(up 4.20%), Simbhaoli Sugars(up 1.78%), Sakthi Sugars(up 1.18%), Mawana Sugars(up 1.00%), K.M.Sugar Mills(up 0.86%), Rana Sugars(up 0.62%), Balrampur Chini Mills(up 0.13%) and DCM Shriram Industries(up 0.07%) stood among the top gainers. Dalmia Bharat Sugar & Industries(down 3.25%), EID Parry(down 2.51%), AVADHSUGAR(down 2.49%), Dhampur Sugar Mills(down 1.69%), Uttam Sugar Mills(down 1.45%), Vishwaraj Sugar Industries(down 1.22%), Dwarikesh Sugar Industries(down 1.19%), KCP Sugar & Industries(down 1.14%), Triveni Engineering & Industries(down 0.78%) and MAGADHSUGAR(down 0.70%) were among the top losers of the day.

Shares of Coforge(up 1.56 per cent), Tech Mahindra(up 0.64 per cent), Wipro(up 0.2 per cent) and LTIMindtree Ltd(up 0.05 per cent) ended the day as top gainers in the pack. On the other hand, L&T Technology(down 1.07 per cent), HCL Technologies(down 0.86 per cent), MPhasis(down 0.61 per cent), Tata Consultancy(down 0.59 per cent) and Infosys(down 0.38 per cent) finished as the top losers of the day.

Shaktikanta Das in his monetary policy statement on Thursday announced that all scheduled banks will have to maintain a 10% incremental cash reserve ratio (ICRR) from August 12. The ICRR of 10% will be on the increase in the banks’ net demand and time liabilities (NDTL) between May 19, 2023, and July 28, 2023.

equity market witnessed an all-round selloff on Thursday even as the Reserve Bank of India (RBI) maintained a status quo on the repo rate and policy stance on expected lines but raised inflation projections for the current financial year due to the recent rise in vegetable, cereals and pulses prices. The six-member monetary policy committee (MPC) of the RBI unanimously decided to keep the repo rate unchanged at 6.50 per cent for the third straight meeting in a row. The MPC also decided to keep the policy stance unchanged as ‘Withdrawal Of Accommodation’.

Domestic benchmark index NSE Nifty ended 89.45 points down at 19543.1, while the BSE Sensex closed 307.63 points down at 65688.18. On the other hand, Hindustan Comp, Zee Ent., Antarctica Ltd, Niraj Cement and Sabar Flex India stocks hit their fresh 52-week highs today.

The 30-share Sensex fell 307 points to settle at 65,688, while the broader Nifty ended at 19,543. Sectors sensitive to domestic interest rates like banks and financial services stocks were among the top losers as Nifty Bank fell 0.76%.

Oil India share price continued its upward trend and touched 52-week high for the second consecutive session on Thursday after the company posted a 4% rise in its net profit for the quarter ended June (Q1FY24) on the back of increased production, which offset a fall in price. Oil India share price today opened at ₹279.50 apiece on BSE. Oil India shares touched intraday high of ₹279.95 and low of ₹275.10.

While the nifty is in a correction mode, if one looks at other indicators, like relative performance of mid and small cap indices, it is clear that bulls are still in control of the street as on majority of the days when correction is taking place at index level, select stocks continue to gain weight.

Golden Crossover, explore 10 stocks that have recently experienced this pattern, and discuss its importance in making informed investment decisions. The Golden Crossover is a significant technical pattern that occurs when a stock's short-term moving average (typically the 50-day moving average) crosses above its long-term moving average (usually the 200-day moving average). This pattern is considered bullish and indicates a potential shift from a bearish trend to a more optimistic upward trajectory.

inflation projection for the current fiscal by the Reserve Bank of India (RBI) on Thursday, while highlighting the global economic conditions, has dashed Dalal Street investors’ hope of a rate cut any time in the near future. Until the last policy meet, expectations were building for a longer pause and possibly, a rate cut later in FY24.

Pidilite Industries Ltd. rose 1.11 per cent to Rs 2576.0 in Thursday's trade. It hit an intraday high of Rs 2619.0 and low of Rs 2563.0, respectively, during the day.

Jubilant Foodworks Ltd. rose 1.36 per cent to Rs 494.3 in Thursday's trade. It hit an intraday high of Rs 502.45 and low of Rs 492.05, respectively, during the day.

Voltas Ltd. traded 0.33 per cent lower in Thursday's session at 01:30PM (IST).

In another couple of weeks, talks about the festive season sales would start to come up. For the auto industry, headwinds like rising input cost, stagnant demand are becoming things of the past.

RBI) Governor Shaktikanta Das found a smarter option to absorb surplus liquidity in the banking system — the imposition of incremental CRR. Banking industry analysts say the move will suck out additional liquidity worth around Rs 90,000-95,000 crore from the system.

SRF Ltd. traded 0.28 per cent higher in Thursday's session at 12:08PM (IST).