Monday, December 23, 2024 | 04:13 AM ISTEN Hindi

MARKET WRAP: Sensex loses 155 pts amid selling in banks; IBHFL tumbles 34%

All that happened in markets today.

SI Reporter New Delhi

hare brokers react to falling stock prices on screens of computers and television

9:04 AM

Market at Pre-open

9:03 AM

Market at Pre-open

9:03 AM

Rupee Opening Alert

Rupee opens stronger at 70.42/$ vs Friday's close of Rs 70.56 per US dollar

8:57 AM

India-dedicated funds pull out over $3 billion so far this year: EPFR data

India-dedicated funds saw outflows to the tune of $375 million in August, taking their year-to-date outflows to $3.2 billion, an EPFR data compiled by Kotak Institutional Equities shows. Global emerging market (GEM) funds saw outflows to the tune of $868 million, paring the 2019 inflows by these funds to about $181 million. READ MORE

8:49 AM

Stocks to watch: Cipla, Bandhan Bank, LVB, IBHFL, DHFL, Reliance Nippon

Here's a look at the top stocks that may remain in focus today -

Peninsula Land: Brickwork has downgraded the rating for debentures of Peninsula Land, real estate unit of the Ashok Piramal Group, from “A” to “BBB-“. It also revised the outlook from “stable” to “negative”.

Reliance Anil Dhirubhai Ambani Group stocks may remain in focus today as the companies will hold their annual general meetings (AGMs) today in Mumbai starting 10 am. Anil Ambani will address the meetings of all the companies, except the bankrupt RCom which will be addressed by the resolution professional. READ MORE HERE

8:42 AM

India is a highly promising macro-restructuring case: Christian Gattiker

It has been a choppy few sessions for the markets, which saw a runaway rally post the cut in corporation tax rates but later witnessed profit booking at higher levels.

Switzerland-based Christian Gattiker, chief strategist and global head of research Julius Baer, tells Puneet Wadhwa that he has a neutral view on the Indian equity market for now, given the rich valuation READ FULL INTERVIEW HERE

witzerland-based CHRISTIAN GATTIKER, chief strategist and global head of research Julius Baer

8:38 AM

IRCTC IPO: A robust growth outlook, attractive valuations are key positives

Indian Railway Catering and Tourism Corporation’s (IRCTC’s) initial public offering (IPO) is a good bet for investors. The company, which is under the railway ministry, has a monopoly over e-ticketing, catering in trains and packaged drinking water at railway stations.

Reasonable valuation, a robust dividend track record, zero-debt status and a strong outlook for its three core services are the other triggers. READ MORE

8:34 AM

NEWS ALERT | Fashion retailer 'Forever 21' files for bankruptcy: Reuters

8:33 AM

NEWS ALERT | China's Manufacturing PMI came in at 49.8 in September: Reuters

-- China’s factory activity shrank for the fifth straight month in September

-- It was slightly higher than 49.5 in August

-- Services PMI came in at 53.7

8:27 AM

Nifty outlook and stock pick by Angel Broking: Buy SBI Life, Sudarshan Chem

Market extends gains but momentum seems to have disappeared

On September 20, market took a giant leap after FM’s announcement on slashing corporation taxes. All of a sudden, the tide turned upwards and before anyone could realise, the Nifty was well above 11,200. Since it was predominantly a short squeezing move, markets were not done with such sharp one day spurt. Expectedly, we had a good bump up on Monday to kick start the week on a strong note. Participants were so ecstatic; the Nifty went on to almost kiss the 11,700 mark in the initial euphoric move. However, this seemed to be an overreaction and hence, throughout the remaining part of the week, market consolidated in a slender range to eventually conclude tad above 11,500. READ MORE

8:24 AM

Top stock picks by CapitalVia: Buy Adani Green Energy, Torrent Pharma

Buy Torrent Power above Rs 295

Target: Rs 320

Stop loss: Rs 284

The stock is showing resistance breakout from the levels of 295 and meanwhile the stock is trading above its 50-day EMA and a breakout will result in good upside momentum. Considering this, we recommend buying the stock above Rs 295 for the target of Rs 320, keeping a stop loss at Rs 284 on closing basis. READ MORE

8:22 AM

Market outlook and top two trading ideas by Prabhudas Lilladher

NIFTY VIEW

Nifty has been consolidating near 11,500 levels to maintain the bias and as of now only a breach above 11,700 levels would bring about further fresh upward movement whereas on the downside the level of around 11,350 would prove to be a crucial support zone which, if broken, can witness some further more downside slide. However, the support for the week is seen at 38,230/11,320 for Sensex and Nifty, respectively, while resistance is seen at 39,400/11,700. Bank Nifty would have a range of 29,260-30,470 levels. READ MORE