Emkay Global remains cautious due to current high market valuations, moderate topline growth, and the expectation of rate cuts being 1-2 quarters away
Posts tagged BL
Stocks that will see action today: July 24, 2024 (24-07-2024)
Buzzing stocks: Bajel Projects, Titagarh Rail, Dr Reddy’s Lab, Krsnaa Diagnostics, Suven Pharma, Piramal Pharma, Infosys, ONGC, IOL Chem, Tata Consumer, Elgi Equipments
Stock Market Live Updates 24 July 2024: Nifty 50 recovery hinges on breaking 24,650 level (24-07-2024)
Sensex, Nifty, Share Prices LIVE: On Budget Day, the Indian benchmark indices closed in red for the fifth consecutive year, with Sensex and Nifty 50 down around 0.1% each and the Nifty Bank index dropping about 1%. All three indices saw an intraday fall of over 1.5% before partially recovering later. The increase in short-term and long-term capital gains tax and the hike in security transaction tax (STT) for the Futures & Options (F&O) segment were the main reasons for the market dip. The BSE Realty index suffered the most due to the removal of indexation in calculating long-term capital gains tax for real estate assets. Despite the market’s recovery from intraday lows, charts suggest that the Nifty 50 needs a decisive break above 24,650 for a bullish outlook, while the Nifty Bank index faces significant resistance around 52,800-53,000. Realty stocks like Sobha, Prestige Estate Projects, DLF, Brigade Enterprises, and Macrotech Developers are at crucial levels, with their price actions requiring close monitoring.
Budget’s fiscal path makes gilt mutual funds attractive for investors (23-07-2024)
Yields on G-secs across longer tenors were trending down earlier and may soften further
Indices recover despite STT, capital gains tax hike (23-07-2024)
Sensex tanked over 1,200 points intraday before recovering to close at 73 points at 80,429, while Nifty dipped 0.12 per cent to 24,479
Budget 2024: Duty cut to lower gold prices. How will it impact jewellery stocks? (23-07-2024)
A drop in gold price can lead to increased jewellery demand, improving their revenue and profits Market experts believe the price of yellow metal could drop between ₹300 and ₹500 per gram going ahead
Bonanza for start-ups and investors (23-07-2024)
The government has finally plugged this differential by applying a uniform long-term capital gains tax rate of 12.5 per cent for resident and non-resident investors, as well as for listed and unlisted securities.
Agriculture sector welcomes budget proposals (23-07-2024)
Laud Centre’s focus climate resilience, productivity and innovation
OFS transactions under capital gains tax net to hit promoters, anchor investors (23-07-2024)
According to the Budget memorandum, the tax liability will be computed based on the purchase cost indexed to January 31, 2018
Higher tax on capital gains, F&O to pinch investors (23-07-2024)
LTCG increased to 12.5%, STCG at 20%; STT on F&O raised 1.6x