Pakistan shares on track to record highest ever point-wise gains on IMF deal - 9 months ago
Pakistan's benchmark share index rose over 6% after securing a $3 billion financial package from the IMF. Auto stocks increased as import restrictions are expected to ease. Automakers, including Pakistan Suzuki Motor and Honda Atlas Cars, experienced gains of 7.5% while Indus Motor Co. rose 6%. With the import ban lifted and the IMF deal secured, companies in the auto sector will not face any supply chain issues.
Economic Times

BSE, Godrej Properties among 10 overbought stocks trading with bearish RSI - 9 months ago
The Relative Strength Index (RSI) is an important indicator for investors to assess stock movement. This article explores stocks that are currently overbought but have a bearish RSI trend. The RSI, which ranges from 0 to 100, helps identify whether a stock is overbought or oversold. An RSI above 70 suggests overbought conditions, while below 30 implies oversold conditions. This information can assist investors in making informed decisions and managing risks effectively. The article provides a list of 10 stocks currently in the overbought zone with a bearish RSI trend.
Economic Times

Nifty valuation more sober today than in October 2021: Motilal Oswal - 9 months ago
Motilal Oswal, a domestic brokerage firm, has stated that the valuations of Indian stock markets are now more reasonable compared to their highs in October 2021. The Nifty trades at a 12-month forward P/E of 18.8x, at a 6% discount to its long-period average. Nifty EPS grew by about 19% during FY20-23. Despite the Nifty reaching new highs, it has remained almost flat over a two-year period. The bull run has been fueled by strong FII flows, solid corporate earnings growth, and expectations of high-teens earnings CAGR over FY23-25. The upcoming June quarter earnings season will be closely watched.
Economic Times

Will bulls reign on D-Street this Q2? See what 3-year history shows - 9 months ago
Indian equities are expected to continue their double-digit gains in the current quarter due to favorable conditions compared to other emerging markets. The Nifty 50 index has historically performed well in the July-September period, with high single-digit to low double-digit returns. Strong foreign portfolio investor (FPI) inflows, supported by strong corporate earnings growth and favorable macroeconomic conditions, have driven the recent market rally. FPIs have shifted their focus from China to India due to the improving Indian macros, GDP growth, and corporate earnings potential. Global fund managers are recommending dedicated allocations to India within Asia in the second half of 2023.
Economic Times

M&M shares surge 3% as June sales up 15% to 62,429 units - 9 months ago
Shares of Mahindra & Mahindra (M&M) rose 3% after the company reported a 15% YoY increase in overall auto sales for June 2023. The utility vehicles segment saw domestic sales of 32,585 vehicles and overall sales of 33,986 vehicles, including exports. However, sales of SUVs were affected by disruptions in engine-related parts and constraints in the supply of specific parts. M&M's domestic sales of small commercial vehicles stood at 19,798 vehicles. The company's farm equipment sector also saw growth, with domestic tractor sales up 9% YoY.
Economic Times

L&T Finance Holdings among 10 BSE MidCap stocks which hit new 52-week highs - 9 months ago
Several mid-cap stocks on the S&P BSE MidCap index reached new 52-week highs, attracting significant investor attention. Some of the notable performers include ABB, Abbott India, Aditya Birla Capital, Ashok Leyland, Cholamandalam Investment & Finance, Cummins India, Exide Industries, Godrej Industries, Hindustan Petroleum, and L&T Finance Holdings. These companies operate in various sectors such as electrification, pharmaceuticals, financial services, automotive, and manufacturing. Please note that the data is sourced from BSE and is current as of 12:45 pm.
Economic Times

Bullish Signs! MACD of 5 large and midcap stocks moves above zero - 9 months ago
MACD or Moving average convergence divergence is a momentum indicator used in technical analysis. The metric shows the relationship between two moving averages of prices. For calculating MACD, 26-day EMA is subtracted from 12-day EMA. Also, a 9-day EMA of the MACD called the signal line, is plotted on the top of the MACD, which provides the likely trading strategy in a stock i.e. a buy or a sell.
Economic Times

HDFC Bank at record high post HDFC-merger, among world's top 10 banks by value - 9 months ago
HDFC Bank's shares reached a record high after completing its merger with parent company HDFC, making it one of the world's top 10 banks by market capitalization. The $40 billion merger closed on June 30 and allows HDFC Bank to underwrite larger loans, including those for infrastructure. Since the deal was announced, HDFC Bank's shares have risen about 14.5%, outperforming the benchmark Nifty 50 index. The combined entity has a market capitalization of around $157 billion, surpassing major global lenders such as Morgan Stanley and HSBC Holdings. Morgan Stanley considers HDFC Bank's valuation attractive and expects accelerated loan growth.
Economic Times

BSE board to consider share buyback on July 6; stock surges over 5% - 9 months ago
BSE Ltd will hold a board meeting on July 6 to discuss and approve a proposal for a share buyback, which involves the company repurchasing its own shares. Share buybacks are considered a tax-efficient way to distribute cash to investors and can increase the value of the stock by reducing the number of shares available. Following the announcement, BSE's stock rose over 5%. The company also made changes to its executive team, appointing a new Chief Regulatory Officer, Chief Risk Officer, and Chief Information Officer. BSE is known as the world's fastest stock exchange. In the March quarter, the company reported a revenue of Rs 227 crore and a profit of Rs 88 crore.
Economic Times

Learn With ETMarkets: Options demystified 401 – Market sentiment - 9 months ago
Market sentiment derived from options can be assessed using the Put-Call Ratio (PCR). There are two types of PCR: volume-based and open interest-based. The volume-based PCR provides short-term analysis, while the open interest-based PCR gives longer-term insights. Traders use the PCR as a contrarian indicator, with a ratio above 1 suggesting bearish sentiment and a ratio below 1 suggesting bullish sentiment. The Option Chain is another tool that traders use to gauge market sentiment by analyzing factors such as open interest, volume, bid-ask spread, and implied volatility. The Max Pain theory suggests that the price of the underlying asset tends to settle near the option strike price where option writers minimize their financial gain.
Economic Times

Japan's Nikkei ends at 33-year high as BOJ's tankan survey signals recovery - 9 months ago
Japan's Nikkei share average reached a 33-year high, driven by machinery makers and a positive quarterly survey from the central bank indicating a recovery in corporate activities. The index closed at 33,753.33, its highest since March 1990. The broader Topix also rose by 1.41%. Factors contributing to the market's growth include a strong US stock market, a slowdown in inflation, and positive sentiment from the Bank of Japan's survey. Machinery makers and chip-related shares were among the top performers, while department store operators saw a decline in stock value.
Economic Times

Liquor stocks weather it all: From sin tax to prohibition and many times attack from bears on the Street - 9 months ago
Liquor is one of the most taxed businesses in the country. A bottle of a particular brand which cost Rs 400 in one state may cost as much as Rs 1200 in another. State governments don't want to lose their power to tax liquor business. Another big factor in this business is the establishment of the brand. History is filled with examples, where companies have gone down because they invested too much in brands that did not do well, however they still survived for another day to launch a brand.
Economic Times

Is HDFC Bank stock up for re-rating after merger? Morgan Stanely cites 5 growth triggers - 9 months ago
Morgan Stanley has resumed its overweight rating on HDFC Bank and set a target price of Rs 2,110. The brokerage firm expects loan growth and EPS growth to be around 17-18% YoY after FY24. They believe that the stock is available at an attractive valuation and trades at a discount to its historical mean. The analysts also highlight key drivers for the stock, including strong trailing investments, sustained deposit market share gains, steady margin trends, strong asset quality, and operating leverage. They expect re-rating over the next year as profitability and loan growth improve.
Economic Times

Chart Check: Tube Investment breaks out from a cup pattern; fresh record highs likely to continue in July - 9 months ago
Tube Investments, an auto component company, has seen a 13% increase in its stock price in a month. Experts suggest that the stock could reach the level of Rs 3,700 due to a breakout from a cup pattern on the weekly charts. Short-term traders are advised to buy the stock now or on marginal declines. The stock is currently trading above the neckline of the cup pattern and is supported by various moving averages. The Relative Strength Index (RSI) and MACD indicators are also positive.
Economic Times

Suzlon Energy shares hit 10% upper circuit, takes winning run to 6th day - 9 months ago
Shares of Suzlon Energy surged 10% to Rs 17, extending its winning streak for the sixth consecutive session. In the past six sessions, the stock has gained 24%, and it has risen 47% in the last month and over 175% in the past year. ICICI Securities expects Suzlon Energy to benefit from favorable industry factors and anticipates a significant increase in earnings from FY24 onward. The brokerage firm has initiated a buy rating on the stock with a target price of Rs 22, reflecting a 32% upside potential.
Economic Times

Stock picks of the week: 4 stocks with consistent score improvement and upside potential of up to 26% - 9 months ago
As broader market indices like sensex and nifty continue to form new highs. Some stocks have witnessed consistent improvement in their scores. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Economic Times

Mazagon Dock shares jump over 7%, hit 52-week high on defence deal - 9 months ago
Shares of Mazagon Dock Shipbuilders surged over 7% and hit a 52-week high after the company won a contract worth Rs 2,724 crore from the Indian Navy. The stock has seen a tremendous rally, delivering returns of 435% in the past year. With a market capitalization of over Rs 25,000 crore, Mazagon Dock has become the first shipbuilding company to achieve this milestone. Despite trading in an overbought zone, the stock has been performing well and is above its 50-day and 200-day moving averages.
Economic Times

Mcap of BSE-listed firms reaches record high of Rs 297.94 lakh cr - 9 months ago
The market capitalization of BSE-listed firms reached a record high of Rs 297.94 lakh crore as the benchmark Sensex crossed the 65,000 mark for the first time ever. The BSE benchmark has been rallying for the fourth straight trading session. The market capitalization of BSE-listed companies jumped to Rs 2,97,94,780.47 crore. HDFC, HDFC Bank, UltraTech Cement, Tata Steel, Bajaj Finance, ICICI Bank, and State Bank of India were among the major gainers. Foreign Portfolio Investors (FPIs) bought equities worth Rs 6,397.13 crore on Friday. GST collections crossed Rs 1.60 lakh crore mark in June.
Economic Times

Will bulls rain dance on D-St this Q2? See what 3-year history shows - 9 months ago
Indian equities are expected to continue their double-digit gains in the current quarter due to favorable conditions compared to other emerging markets. The Nifty 50 index has historically performed well in the July-September period, with high single-digit to low double-digit returns. Strong foreign portfolio investor (FPI) inflows, supported by strong corporate earnings growth and favorable macroeconomic conditions, have driven the recent market rally. FPIs have shifted their focus from China to India due to the improving Indian macros, GDP growth, and corporate earnings potential. Global fund managers are recommending dedicated allocations to India within Asia in the second half of 2023.
Economic Times

Bulls in Action! Sensex scales Mt 65,000 on rally in HDFC twins after merger - 9 months ago
From the Sensex pack, UltraTech Cement and M&M were the top gainers, rising over 2% each. HDFC, HDFC Bank, Tata Motors, SBI, Wipro and Tata Steel also opened higher. On the flip side, Power Grid, Asian Paints, Axis Bank, Maruti, Tech Mahindra, and Sun Pharma opened in the red.
Economic Times

Ashok Leyland shares gain 4% as June sales rise 5% YoY - 9 months ago
Shares of Ashok Leyland, a commercial vehicles maker, increased by 4% after the company reported a 5% YoY rise in vehicle sales in June 2023. The company's medium and heavy commercial vehicle sales were up 6% while light commercial vehicle sales increased by 2% YoY. The stock has seen a 14% surge in the last month, and analysts have an average target price of Rs 180. In Q4 FY23, the company's net profit dropped by 17% YoY, but revenue rose by 33%. For FY23, net profit more than doubled, and revenue grew by 67%.
Economic Times

HDFC shares rally 3% as traders look for arbitrage bets ahead of delisting - 9 months ago
Shares of HDFC, which has merged with HDFC Bank, surged over 3% as traders sought arbitrage opportunities ahead of the delisting date. The merger deal will create the world's fourth largest bank in terms of market value. Analysts expect the merger to result in strong growth and profitability, with a 15.7% market share. The bank is expected to see loan and deposit growth of around 17% and 19%, respectively. The merger became effective on July 1, with a share swap ratio benefiting HDFC shareholders. The record date for share allotment under the merger deal is July 13.
Economic Times

Technical stock picks: LTTS, Polycab among 4 stocks that can rally up to 10% - 9 months ago
Indian equity indices are trading at fresh all-time high levels. Amid this backdrop, a host of analysts have shared their tech views on particular stocks that can rally up to 10% in the short term. These stocks include Hindustan Petroleum and LTTS. Here are 4 tech picks from various analysts:
Economic Times

Most Adani stocks recover from Hindenburg-led mayhem, but worries persist - 9 months ago
Shares of most Adani Group companies have rebounded in the June quarter after a tumultuous March quarter. Adani Enterprises saw a net gain of over 36% in the quarter, while Adani Power gained more than 30%. The recovery was driven by the group's efforts to reduce debt, decrease pledged shares, and positive initial findings by a Supreme Court-appointed panel. However, concerns remain as SEBI continues to investigate the matter and US authorities are reportedly looking into investments in Adani stocks. GQG Partners expressed confidence in the group and made significant investments.
Economic Times

Hot Stocks: Brokerages view on UltraTech Cement, KPIT Tech and MCX - 9 months ago
Goldman Sachs has given a 'Buy' rating for UltraTech Cement and KPIT Technologies, with target prices of Rs 8,720 and Rs 1,200, respectively. The brokerage firm expects strong volume growth for UltraTech Cement and sees market share gains for the company. For KPIT Technologies, Goldman Sachs anticipates growth in revenue due to exposure to the growing electric vehicle and driverless car market. On the other hand, Morgan Stanley has an 'Underweight' stance on MCX and a price target of Rs 1,125, citing the average daily traded value as a key driver of the company's profits and share price.
Economic Times

Sensex hits 65K, gains nearly 300 pts; Nifty above 19,250 - 9 months ago
Sensex hits 65K, up nearly 300 points; Nifty above 19,250; UltraTech, M&M gain 2% each; HDFC, Tata Motors are some of the gainers in the morning trade.
Economic Times

Bulls in Action! Sensex scales Mt 65,000 on rally in financials, auto stocks - 9 months ago
From the Sensex pack, UltraTech Cement and M&M were the top gainers, rising over 2% each. HDFC, HDFC Bank, Tata Motors, SBI, Wipro and Tata Steel also opened higher. On the flip side, Power Grid, Asian Paints, Axis Bank, Maruti, Tech Mahindra, and Sun Pharma opened in the red.
Economic Times

Buy or Sell: HDFC Bank, Bandhan Bank and more - 9 months ago
ET Now spoke to various experts and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on HDFC Bank and Maruti Suzuki while Nooresh Merani has a buy/sell recommendation on Bharat Forge and Bandhan Bank for today's trading session. Check out the targets and stoploss.
Economic Times

Stocks to buy today: Tata Power, HPCL among 7 short-term trading ideas by experts for 3 July, 2023 - 9 months ago
Indian stock indices, S&P BSE Sensex and Nifty50, reached new all-time highs on Friday, closing with gains. The Sensex rose by 803 points or 1.26% to 64,719, while the Nifty50 climbed 217 points or 1.14% to 19,189. The Nifty Bank also saw gains of nearly 1%. The positive performance was attributed to global data, strong foreign institutional investor (FII) buying, and progress in monsoon. The auto sector is expected to be in focus due to monthly sales data releases, and economic data locally and globally will influence market movements.
Economic Times

Stocks in focus: Vedanta, Adani Transmission and more - 9 months ago
Nifty futures on the GIFT Exchange traded 23 points, or 0.12 per cent, higher at 19,368, signaling that Dalal Street was headed for positive start on Monday. Here's a slew of stocks that will be in focus today for various reasons.
Economic Times

F&O Ban: Indiabulls Housing re-enters ban on Monday - 9 months ago
Indiabulls Housing Finance has been placed under the futures and options (F&O) ban, but will still be available for trading in the cash market. The ban on a stock occurs when the open interest (OI) crosses 95% of the market-wide positions limits (MWPL) and is only lifted when the OI falls below 80%. Traders who deal with indices are not affected by security bans. Indiabulls Housing's MWPL stood at 97.2% on Friday, with OI at 59.5 million, up by 9.9% from the previous session.
Economic Times

At multi-year highs: 8 stocks witness 5-year swing high breakout. Do you own any? - 9 months ago
In the Nifty 200 pack, we have collated a list of 8 stocks that witnessed a 5-year swing high at the close on June 30, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond. This occurrence may be seen as a bullish sign, indicating the potential for further upward movement in the stock.However, it's worth noting that this is different from a 5-year breakout, which occurs when a stock's price surpasses a key resistance level that has held for five years.
Economic Times

Positive Breakout: Coal India & 4 other largecap stocks crossed above their 200 DMAs - 9 months ago
In the Nifty200 pack, five stocks crossed above their 200 DMA (Daily Moving Averages) on June 30, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
Economic Times

SGX Nifty is now Gift Nifty. Timings, how to check data & key changes explained - 9 months ago
The $7.5 billion derivative trade from the Singapore Exchange (SGX) has shifted to the NSE International Exchange (NSE IX), resulting in the rebranding of SGX Nifty futures contracts as Gift Nifty. Gift Nifty will now trade in NSE IX, which operates under the regulatory framework of the International Financial Services Center Authority. SGX Nifty has been suspended for trading and will eventually be delisted. There will be no significant impact on retail traders and investors, as it is simply a migration from one exchange to another. Gift Nifty will be accessible for almost 21 hours, overlapping with trading hours in Asia, Europe, and the US.
Economic Times

SGX Nifty starts trading as GIFT Nifty from today: All you need to know - 9 months ago
Starting Monday, derivatives contracts of SGX Nifty, previously traded on the Singapore exchange, will begin trading on NSE's International Financial Services Centre (IFSC) in India. The shift is part of an arrangement between NSE and SGX. SGX Nifty/GIFT Nifty is a derivatives contract on NSE's Nifty index, allowing investors to gauge Nifty performance before Indian market opens. Nifty contracts on NSE are in rupees, while GIFT Nifty contracts are in US dollars. GIFT Nifty trading on IFSC offers benefits such as exemption from securities transaction tax, commodities transaction tax, dividend distribution tax, capital gains tax, and income tax.
Economic Times

Big movers on D-Street: What should investors do with HDFC AMC, KFin Technologies and EasyTrip Planners? - 9 months ago
Equity benchmarks reached new record highs last week due to foreign fund inflows and a positive global market trend. Stocks in focus were HDFC AMC, which saw a 11.5% rise, KFin Technologies, with a gain of 6.77%, and Easy Trip Planners, which fell 3.22%. Analyst Pravesh Gour recommends buying HDFC AMC for the long term, as it has formed a double bottom formation and has strong volume support. He suggests buying KFin Technologies due to its impressive structure and positive trend. However, he advises avoiding Easy Trip Planners due to its continuous downtrend formation and negative technical indicators.
Economic Times

Over 20% upside! Dalal Street’s top 14 picks to ride a resurgent main Street - 9 months ago
For investors looking for signs of real economic recovery, not just the stock market rally, here are some stocks that can give a minimum of 20% returns over the next twelve months, recommended by India’s top brokerages.
Economic Times

Nikkei leads Asia higher, China struggles to keep up - 9 months ago
Asian shares rose, driven by demand for tech stocks in Japan. The outlook for the Chinese economy and U.S. interest rates is expected to be determined this week. China's recovery is currently below expectations, with the Caixin manufacturing survey forecasted to dip in June. The Bank of Japan's survey showed improved business sentiment, while Japanese stocks surged due to offshore buying. MSCI's Asia-Pacific index slightly increased, while S&P 500 futures and Nasdaq futures remained steady. The tech sector could be further boosted by Tesla's record vehicle deliveries in Q2 and Apple's market valuation surpassing $3 trillion.
Economic Times

GIFT Nifty up 25 points; here's what changed for market while you were sleeping - 9 months ago
"We expect the uptrend in Indian equities to continue in the near term. Next week the market will take cues from economic data to be released locally as well as globally.," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services
Economic Times

Stocks in news: Airtel, Adani Transmission, HDFC Bank, Ultratech Cement, TVS Motor - 9 months ago
Promoter entity Fortitude Trade and Investment has sold its entire stake in Adani Transmission Ltd for about Rs 2665 crore through bulk deals on Friday. Meanwhile, GQG partners has bought a stake worth Rs 1,676 crore in the company.
Economic Times

Gujarat Gas among 5 midcaps hinting at bearish trend on futures short positions scan - 9 months ago
The futures short position scan conducted on Friday revealed Aggressive New Short positions on 5 mid cap stocks. This is a bearish indicator, as it signifies that the futures OI has increased while price has decreased. (Source: StockEdge)
Economic Times

Stock Radar: SJVN gives a breakout from a ‘Cup and Handle’ pattern - 9 months ago
"Traders can look to buy this stock in the range of Rs. 42-41 for potential targets of Rs. 47 and Rs. 49. The stop loss on long positions should be placed below Rs. 38," Ruchit Jain, Lead Research, 5paisa.com, said.
Economic Times

Disclosure norms: FPIs may get 3 months to cut exposure - 9 months ago
According to Sebi's new regulations, FPIs - other than sovereign funds, pension funds and public retail funds - having more than 50% of their equity assets under management in a single corporate group or with total equity exposure of ₹25,000 crore or more would have to share the identities of their ultimate beneficial owners (UBOs) who are the last natural persons behind the multiple vehicles in an FPI structure. The rules are expected to be notified soon.
Economic Times

General insurers face tough choice on pushing growth and sustaining margins - 9 months ago
In the fiscal year 2023, the combined ratio - an indicator of profitability, which is calculated by measuring the sum of incurred losses and operating expenses as a percentage of earned premium - rose for almost all general insurers.
Economic Times

Jyothy Labs among 6 stocks signalling bullish reversal on candlestick screener - 9 months ago
On the candlestick screener, a bullish reversal pattern helps identify stocks that can move uptrend from a downward zone in the future. So, here are 6 stocks with m-cap above Rs 1000 crore that have established a Bullish Harami pattern and hint at bullish reversal in the future. (Source: StockEdge)
Economic Times

PSBs shelve deal to sell drug company loans to NARCL - 9 months ago
State Bank of India (SBI) and Punjab National Bank (PNB) had given loans to Parenteral Drugs, a contract manufacturer of liquid formulations which is undergoing corporate insolvency. A binding offer by NARCL for the pharma company had triggered a Swiss Challenge auction, following which SBI invited counter offers from other asset reconstruction companies (ARCs).
Economic Times

GHCL director fails to get enough votes to be reappointed - 9 months ago
As much as 67.73% of the shareholders at the AGM voted in favour of the special resolution, while 32.27% voted against. "The resolution was defeated as it needed to be supported by 75% of the total voting," the company said in a regulatory filing on Saturday.
Economic Times

SBI offers cardless cash facility for all bank users - 9 months ago
Customers can now withdraw cash seamlessly from ICCW-enabled ATMs of any bank by using the 'UPI QR Cash' functionality. The transaction will be facilitated through a single-use dynamic QR code displayed on the ATM screen without using a PIN or a physical debit card.
Economic Times

Shooting Star on charts: 4 major stocks giving bearish indication - 9 months ago
Bearish reversal scan on the candlestick screener can help in ascertaining stocks which can slip downward from an uptrend zone. Here is a list of 4 major stocks that have established a Shooting Star pattern and signal bearish reversal. (Source: StockEdge)
Economic Times

Support above 18,900 can take Nifty to 19,700: Analysts - 9 months ago
​Chart patterns suggest that the zone of 18,900-18,950 for the Nifty will be strong support going forward. Until the index sustains above the level of 18,900, we may witness the continuation of this strong momentum up to the level of 19,450-19,500. However, if the index slips below 18,900, profit booking up to 18,650-18,500 could be witnessed. Options data suggest a broader trading range of 18,900-19,500 for the upcoming week.
Economic Times