Posts in category Economic Times
Stock market update: Nifty IT index falls 0.71% (02-04-2024)
The Nifty IT index closed 0.71 per cent down at 34793.95.
Goldman sees Indian banks’ profitability coming under pressure (02-04-2024)
Indian banks were in a Goldilocks period over the last couple of years, during which lenders improved their top line and enjoyed a pickup in loan growth, according to Rahul Jain, co-head of Asia Pacific Financials Research at Goldman.
Sensex snaps 3-day winning run, dips 111 points dragged by bank, IT stocks (02-04-2024)
Benchmark equity indices closed slightly lower on Tuesday due to mixed global cues. ICICI Bank, Kotak Bank, and IT stocks dragged the market. Sensex fell 111 points to settle at 73,904, while Nifty dropped 9 points to end at 22,453. The market capitalisation of all listed companies on the BSE surged by Rs 2.42 lakh crore to Rs 395.57 lakh crore. The market breadth was skewed in favour of the bulls.
Metal stocks rally on strong China Data, US rate cut hopes (02-04-2024)
Shares of metal companies surged Monday, leading gains in a session where benchmark indices hit lifetime highs. The Nifty Metal index also surged to a record, ending with near 4% gains on positive manufacturing data from China amid brightening prospects of a June start to the US rate easing cycle.
Bharti Hexacom’s Rs 4,275 crore IPO opens on Wednesday. What GMP indicates ahead of subscription (02-04-2024)
Bharti Hexacom IPO is completely an offer-for-sale, without any fresh equity issue. The company's shares are trading with a grey market premium (GMP) of Rs 40 in the unlisted market.
Extended winter to dent Q4FY24 prospects for consumer pack; Nuvama suggests 6 stocks to buy (02-04-2024)
Nuvama forecasts a gradual recovery for consumer staples in FY2025, picking top stocks amidst comparisons with Nifty FMCG index. Q4FY24 may show muted growth, with price hikes and ad spends expected in FY2025.
Brent crude breaks above $88 for first time since October on fresh supply threats (02-04-2024)
Brent futures for June delivery were up $1.29, or nearly 1.5%, at $88.71 a barrel by 0912 GMT. U.S. West Texas Intermediate (WTI) crude futures for May rose $1.30, or about 1.6%, to $85.01.
Expect Nifty at 24K in next 3-4 months; Midcap 100 to rally towards 58,000; Smallcap target 18K: Manav Chopra (02-04-2024)
Manav Chopra, from Nuvama Institutional Equities, foresees bullish trends in metals, defence, power, and mid-tier PSU banks. Bank Nifty support levels, IT sector basing out, and strong performances in Karur Vysya Bank, BSE, and metals sector are notable. Chopra further says: "It seems the bull market is here to stay and eventually , we expect the midcap 100 to rally towards sub-58,000 levels and for the smallcaps, we have a target of close to 18,000 levels."
Nifty may surge to 23,400 before general election outcome, says ICICIdirect; here’s why (02-04-2024)
ICICIdirect has picked up nearly 8 dozen stocks as its top bets across sectors. According to the brokerage, Nifty is expected to see a 930-point rally from Monday’s closing of 22,462.
Money-making Ideas: ICICI Bank, BoB among Axis Securities’ top largecap stock picks for April (02-04-2024)
Axis Securities shares top largecap bets for April