A sustainable move above 19770 levels could bring bulls back into action. A slide below 19500 is expected to resume sharp selling momentum, said Nagaraj Shetti of HDFC Securities

September 29, 2023, will be remembered as a day when major stocks showcased their potential, reaffirming their role as key contributors to the dynamic landscape of the stock market.

On September 29, Friday, Trendlyne reported that over 40 Nifty stocks had witnessed the Golden Crossover. ETMarkets handpicks 10 stocks that have experienced this bullish pattern and explains its significance for potential investors.

On September 28, Thursday, StockEdge reported that 18 stocks were trending up, signaling a potential bullish wave. ETMarkets spotlights 10 of these stocks and explains the significance of RSI in stock analysis.

As many as seven IPOs, mainboard and SME combined, are set to list on indices next week, starting October 3 onwards. Grey market signals positive listing for all IPOs so far. Two IPOs - Organic Recycling Systems & Mangalam Alloys - are not seeing any traction in the grey market. (Data Source: Chittorgarh)

The rate is sharply higher than what the company had paid for a 15-month bond issue in December, when it had raised 8 billion rupees and the coupon was linked to 91-day Treasury bill yield, which then worked out to around 8.79%.

On September 28, several major stocks exhibited their strength by surpassing their 200-day SMA.

In Q2 FY24, Nifty surged 449 points or 2.3% to 19638, while Sensex advanced 1,110 points or 1.7% to 65,828. From the Sensex pack, NTPC, Tata Motors, and Sun Pharma were the top gainers, rising 2-3%. Tata Steel, SBI, UltraTech Cement, and JSW Steel also closed in the green, while Infosys, HCL Tech, Tech Mahindra, and TCS closed in the red

Closing Bell: Sensex gains 320 points, Nifty above 19,600; NTPC, Tata Motors rise 3% each

Chairman Anil Agarwal said last month Vedanta will consider separately listing all or some of its businesses, in contrast to a failed attempt in 2020 to delist the company to speed up the process of simplifying its corporate structure

After six straight months of net buying, overseas funds have sold $1.93 billion worth of Indian stocks so far in September, according to data compiled by Bloomberg. The last such run of foreign inflows lasted until March 2021.

FIIs net shorts stood at 144,000 contracts at the end of the September series versus 142,000 contracts at the start of the series. As for the client category, the HNIs and retail investors added meaningful longs in the index while increasing their long positions in SSF

In the fiscal year FY24, Indian stocks have shown relatively good performance, with the benchmark index Sensex recording around 11% gains. However, there has been somewhat subdued monthly performance in the last six months, with most months delivering single-digit returns and even a negative performance in July. The possibility of achieving double-digit annual returns is quite probable, just imagine if investors could have attained monthly returns exceeding 10%. ETMarkets has identified five stocks that have consistently demonstrated share price growth of over 10% in each of the past six months of the current fiscal year. Our selection criteria included stocks with a market cap exceeding Rs 1,000 crore. Interestingly, all five of these stocks have become multibaggers in FY24 so far (Data Source: ACE Equity)

Their stance during the September series was contrary to the net long positions of $20 million held by them during the previous expiry, the report said further.

Sony said that the completion of the merger with Zee was previously expected to conclude by the end of September. However, the merger has been embroiled in controversies over the past few months. Various operational and financial creditors had objected to the Zee-Sony merger scheme in the NCLT.

Their stance during the September series was contrary to the net long positions of $20 million held by them during the previous expiry, the report said further.

"JKC, the new proposed promoters of Jet Airways, today completed an additional infusion of Rs 100 crore, reaffirming its unwavering commitment to a successful resurgence of Jet Airways. With this infusion, JKC has now fulfilled its total financial commitment of Rs 350 crore equity as per the court-approved resolution plan, and all commitments by JKC now stand fulfilled to take control of the iconic airline," Jet Airways said.

The correction which Nifty has seen in the last few trading sessions has been led by financials and that too a very specific part of financial sector stocks, private banks. Whether it is upward or southward movement of Nifty, it is largely led by financials. The reason, high ownership of foreign portfolio investors ( FPI ) in the majority of these stocks. The big difference this time has been the fact that while private banks are correcting, PSU banks have been able to sort of outperform and have provided a counter to bears. The big question is will this correction be over before the Q2 earnings season begins?

Accenture's 4% YoYcc growth in 4QFY23, at the mid-point of its 2-6% guidance, was the sixth straight quarter of revenue deceleration for the company. Going by the company's commentary, FY25 growth expectations could be at risk as well.

A study of the performance of BSE500 stocks in the last two years shows that there are 158 counters with negative returns during the period. But what has actually caused heartburn to those looking for consistent compounders is the hibernation phase of top wealth creators like Infosys, HDFC Bank, RIL, TCS and Asian Paints.

In terms of technicals, the stock's day RSI (14) is at 45.4. The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. MACD is at 1.7, above its Center Line, but below the signal line.

In this journey, they would have taken professional help and support in various specialised areas like legal, regulatory compliance, mergers and acquisitions, valuations, loan syndications, and government policies.

While they made a comeback when the Covid rally took place in 2020, multiple factors have kept the focus on the real estate stocks for the last more than two years. Excess inventory, over-leveraged balance sheets, issues of corporate governance, and weak demand were some of the factors that plagued the sector. Right from change in laws, competition weeding out of weak players, increase in demand taking care of excess inventory, new projects getting lapped at a higher price. A bigger one is that savings are once again shifting toward real estate as an asset class.

Accenture's 4% YoYcc growth in 4QFY23, at the mid-point of its 2-6% guidance, was the sixth straight quarter of revenue deceleration for the company. Going by the company's commentary, FY25 growth expectations could be at risk as well.

Medium-to-long-term investors can look to buy the stock for a possible target of Rs 268-338 in the next 2-4 quarters, suggest experts.

Over a dozen stocks are trading with momentum indicator RSI trending up. ETMarkets has picked five stocks in this pack to give insights about their movement trends on September 28, Thursday, ahead of the market opening today. RSI or the relative strength index computes the ratio of the recent upward traction in the stock price movement relative to its absolute price movement. The RSI value ranges between 0 and 100. Herein the StockEdge data takes into consideration the time period of 14 days to compute RSI. Furthermore, RSI also enables an understanding of the stock’s overvalued or oversold state. (Source: StockEdge)

Axiom Ayurveda has a manufacturing facility in Ambala, Haryana, and is setting up a new state-of-the-art facility in Jammu at a cost Rs 160 crore. AloFrut has a strong market presence across general trade, government institutions, modern trade, and e-commerce platforms.

On Wednesday, Aurobindo Pharma's wholly owned subsidiary Auro Vaccines Private Limited informed about entering into a License Agreement with Hilleman Laboratories Singapore Pte. to develop, manufacture and commercialise a pentavalent vaccine candidate used in children vaccination.