“Consolidation continued in the market as investors stayed cautious due to disappointment in earnings and the flight of FIIs. The US Fed continued its rate-cutting cycle to stimulate the economy and is expecting a similar 25-bps rate cut in December policy meet amid moderation in inflation. While inflation in India is estimated to increase in October and the strengthening USD would reinforce RBI to hold the rate in the near-term,” said Geojit’s Vinod Nair.
Posts in category Economic Times
Aurobindo Pharma Q2 net profit rises 8.6% to Rs 817 crore in Q2FY25 (10-11-2024)
Aurobindo Pharma witnessed an 8.6% YoY increase in net profit, reaching Rs 817 crore in Q2 FY25, driven by robust sales in Europe and growth markets. Despite a dip in US formulations revenue, the company’s overall revenue rose by 8% YoY.
F&O Talk | Nifty eyes consolidation, key support at 23,800: Sudeep Shah of SBI Securities (09-11-2024)
“Nifty IT is witnessing an outperformance, and this could witness further strength in the coming few sessions. After marking a high of 43,645 on September 17, Nifty IT entered a throwback phase. During the period of throwback, the index has taken support near its 100-day EMA level and resumed its northward journey. Interestingly, on a weekly scale, it has formed a Bullish Engulfing candlestick pattern, which is a bullish sign.”
Ajay Bagga explains the impact of Donald Trump’s victory on Indian markets (09-11-2024)
“Overall, the move in India would be more into defensives. Expect Chinese stocks to go down further which is mildly positive for us, but the big issue for India right now is continued FII selling and until that abates it is very difficult for our markets at these valuations with these earnings to move ahead, Trump or no Trump.”
IPO Calendar: 3 new IPOs, Swiggy listing to keep primary market buzzing next week (09-11-2024)
Zinka Logistics Solutions, a leading Bengaluru-based platform for truck operators, has set its IPO price band at Rs 259-273 per share, with subscriptions opening on November 13. The IPO includes a fresh share issue totaling Rs 550 crore and an offer for sale (OFS) of up to 2,06,85,800 shares by selling shareholders, valued at Rs 564.72 crore at the top price band.
Dalal Street week ahead: Sector rotation in focus; where to find opportunities in market (09-11-2024)
The Nifty faced a volatile week, ending with a 0.64% loss as it reacted to the US election and encountered strong resistance levels between 24500-24750. While a technical rebound occurred, selling pressure kept gains in check. Support remains at 23800, with a breach potentially leading to further weakness. A cautious outlook is advised for the coming week, with a focus on protecting gains during intermittent rebounds. Sector rotation is also evident, with Financial Services, IT, and Pharma leading, while Consumption and FMCG weaken.
Crorepati Dreams? Recognize these 8 behavioural biases to build lasting wealth (09-11-2024)
The focus is on examining how psychological biases influence investor decisions, often resulting in less-than-optimal returns. Identifying and addressing these biases is crucial for making sound investment choices and securing long-term financial success.
No fundamental challenges to India’s growth story despite FPI selling, says NSE Chief Business Officer (09-11-2024)
National Stock Exchange (NSE) Chief Business Officer, Sriram Krishnan, downplayed concerns regarding recent foreign portfolio investor (FPI) selling in Indian stock markets. He emphasized India’s strong economic fundamentals and attractiveness as an investment destination. Krishnan also mentioned the NSE’s ongoing investor education initiatives, particularly targeting young investors, and confirmed the exchange is awaiting regulatory approval for its anticipated IPO.
Two stock recommendations from Rajesh Palviya for next week (09-11-2024)
“On the higher side, 24,350, 24,400 are the major resistance areas. Until Nifty crosses 24,400, I think comfort would not return on the street in terms of Nifty as well as in the sectoral indices. So, 24,400 needs to cross on a weekly closing basis, then only we can see some short covering action or some follow-up buying action. Till then, sell-on-rise is the strategy for Nifty.”
Divi’s Laboratories Q2 Results: PAT jumps 46% YoY to Rs 510 crore on forex gain (09-11-2024)
Divi’s Laboratories Q2 Results: The company reported a 22.5% year-on-year revenue increase in Q2, reaching Rs 2,338 crore, up from Rs 1,909 crore in the previous year’s corresponding quarter. Profit before tax rose to Rs 722 crore, compared to Rs 469 crore in the same period last year.