sensex today: Stock Market Highlights: Nifty downside support getting stronger. What traders should do on Thursday
09:14 PM
FPIs net buyers for second straight day
Foreign portfolio investors were net buyers for second straight day at Rs 922 crore. DIIs, too, bought shares worth Rs 470 crore on Wednesday.
09:12 PM
Jio Financial ropes in BlackRock to disrupt India’s asset management industry
JFS and BlackRock are targeting initial investment of $150 million each in the joint venture, to be named Jio BlackRock.
Through the joint venture, the firms aim for a digital-first offering and democratise access to investment solutions for investors in India.
07:51 PM
Nifty downside support getting stronger. What traders should do on Thursday
The positive chart pattern like higher tops and bottoms continued on the daily chart and the low of Tuesday at 19615 levels could now be considered as a new higher bottom of the sequence. But, a decisive up move from here is likely to confirm this higher bottom reversal pattern, said Nagaraj Shetti of HDFC Securities.
Nifty Futures Open Interest (OI) indicated buildup of fresh long positions after three losing trading sessions.
07:18 PM
M&M buys 3.5% stake in RBL Bank for Rs 417 crore; may raise stake further
“We may consider further investment subject to pricing, regulatory approvals and required procedures. However, in no circumstances will it exceed 9.95,” M&M said.
Optimism has inched back today after the last three trading days of consolidation ahead of the FOMC meeting. As the market’s ambiguity against the monetary policy is likely to reverse henceforth, going forward we are unlikely to see another Fed rate hike in 2023. This is because inflation has rapidly come down and is forecast to settle down further. However, the interest rate is expected to stay high in the short-term since the rigidity of core inflation remains above the long-term average.
– Vinod Nair, Head of Research at Geojit Financial Services
04:18 PM
Axis Bank Q1 Results: PAT jumps 40% YoY to Rs 5,797 crore; NII rises 27%
An ET NOW poll of analysts had anticipated the profit figure at Rs 6,000 crore.
01:06 PM
Embassy REIT Q1 Results
- Grew Net Operating Income by 9% YoY to Rs 738 crores with commercial office segment margins at 85%
- Delivered distributions of Rs 510 crores or Rs 5.38 per unit, marking the 17th consecutive quarter of 100% payout
- Raised Non-Convertible Debentures (NCDs) totaling Rs 2,075 crores at an average rate of 7.8%; secured 146 bps
proforma savings; c.Rs 15,350 crore debt book remains highly competitive at 7.28% average cost
01:02 PM
Puma highlights ‘volatile’ demand after rise in second-quarter sales
The sportswear sector is struggling to bring down inventory levels in the face of weakening demand in North America and a slower than expected recovery in China, a market the industry was betting on to boost sales.
Puma stuck to its financial targets for 2023 but sounded a cautious note on market conditions, including an “uncertain” recovery in China.
12:31 PM
Nikkei ends lower ahead of BOJ meeting, auto-related shares drag
The Nikkei index inched down 0.04% to close at 32,668.34. The broader Topix slipped 0.1% to 2,283.09.
“There were no negative cues to sell stocks. Investors were just cautious ahead of the central bank decision,” said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
10:13 AM
Yatharth Hospital IPO opens for subscription. Should you bid?
The issue has received a thumbs-up from analysts, with most recommending a “subscribe” given strong financials and growth potential in Northern India.
09:42 AM
Market View | Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
While the range bound movement of the Indian market is likely to continue today, individual stock action in response to results and news will happen. Q1 results of Tata Motors and their decision to cancel DVR shares and the good results of L&T and the share buy back news are sentient positive.
As maintained in the last two days, reclaiming of 19770-840 region is critical for Nifty towards resuming the 20160 trajectory. Until then, Nifty could continue show tendencies to resume the ongoing slide with eyes on 19460. However, fall in VIX as well as a hammer candlestick pattern formed yesterday, raises the hopes that the downtrend that has been on since coming close to 20k last week, is about to reverse. Towards this end, we will look to play upsides while above 19675, with downside marker at 19620.
– Anand James, Chief Market Strategist at Geojit Financial Services
“Markets are likely to stay range-bound with a mixed bias Wednesday, mirroring the sluggish overnight US markets trend as investors await the US Fed’s FOMC meeting outcome to be held late night today. The street will be eager to know if the Fed chairman has the confidence that inflation will be tamed and no more tightening is needed. Powell will emphasize that data dependency (especially July & August CPI numbers + jobs report) will remain a key theme for future rate prospects. Technically speaking, Nifty’s recovery faces resistance at 19887 while the downside remains well supported at 19561 mark.
– Prashanth Tapse, Senior VP (Research), Mehta Equities
07:39 AM
Markets Live Updates: Asian shares mostly weaker as markets mull Fed rate rise
Asian markets were trading mostly weaker on Wednesday ahead of the U.S. Federal Reserve’s expected interest rate rise to be delivered later in the day, as investors also weighed the likelihood of a Chinese economic stimulus package.
07:29 AM
Markets Live Updates: Quarterly earnings today
Bajaj Finance, Axis Bank, Tech Mahindra, Dr Reddy’s, Cipla, Tata Consumer, BPCL, PNB among others will announce their first quarter results today.
07:29 AM
Markets Live Updates: GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded 14 points, or 0.07 per cent, higher at 19,871, signaling that Dalal Street was headed for positive start on Wednesday.
07:29 AM
Tech View: Nifty downside momentum slowing down
Nifty ended Tuesday’s session flat and in the process formed a small bearish candle with minor lower shadow on the daily chart.This pattern indicates a choppy movement in the market with weak bias. Nifty is currently showing signs of slowing down of downside momentum and is placed at the support of 10-day EMA around 19650 levels, said Nagaraj Shetti of HDFC Securities.
07:28 AM
Markets Live Updates: Tokyo stocks open lower on firmer yen
Tokyo stocks opened lower on Wednesday as a stronger yen against the dollar weighed on the market while investors awaited central bank decisions.The benchmark Nikkei 225 index was down 0.11 percent, or 36.71 points, at 32,645.80 in early trade, while the broader Topix index was down 0.26 percent, or 5.88 points, at 2,279.50.
07:28 AM
AI mania drives Wall Street to higher close ahead of earnings
The tech-heavy Nasdaq closed higher on Tuesday, leading gains on Wall Street amid investor excitement about artificial intelligence before earnings reports from megacap technology companies Alphabet and Microsoft after the bell.
07:28 AM
Rupee falls 7 paise against US dollar
The rupee pared initial gains to settle 7 paise lower at 81.88 against the American currency on Tuesday, as elevated crude oil prices and a muted trend in domestic equities weighed on investor sentiments.
