An overbought stock is one whose price has risen significantly, potentially beyond its intrinsic value. In essence, it's a situation where the demand for the stock has pushed its price to unsustainable levels in the short term. Overbought stocks often trigger concerns of a price correction or pullback.

Though the primary market has been buzzing with IPOs in 2023, not all of them were instant hits. Around 12 companies either listed at a discount or had a muted D-Street debut. Despite a weak start, seven of these companies have managed to give double-digit gains since listing. Take a look: (Data Source: Ace Equity | Ritesh Presswala)

The fund is an open-ended equity MF scheme that aims to generate long-term capital appreciation by investing in a concentrated portfolio of high-quality stocks, allowing for in-depth research and active management to capitalize on growth opportunities

Coming to the OI Data, on the call side, the highest OI was observed at 19,800 followed by 19,900 strike prices, while on the put side, the highest OI was at 19,500 strike price. On the other hand, Bank Nifty’s support was at 44,400-44,200, while resistance was placed at 44,900-45,100 levels.

On September 22, Friday, StockEdge identified 40 stocks with a declining Relative Strength Index (RSI). ETMarkets has chosen 10 of these stocks for closer examination.

HDFC Bank's market cap has fallen by Rs 1.2 lakh crore since the merger, which is more than the total market cap of IndusInd Bank (m-cap: Rs 1.1 lakh crore). The wealth erosion is close to the total combined m-cap of IDFC First and Yes Bank combined. (Data Source: ET NOW)

On Monady, sectorally, buying was seen in realty, consumer durables, banks, and healthcare and selling in IT, capital goods and telecom space

The announcement was made by the company ahead of the market closing. The stock settled at Rs 536 on the NSE, up Rs 37, or 7% over Friday's closing price. Strides Pharma Science shares also hit their 52-week high of Rs 539.

Delta Corp shares fell nearly 20% to their 52-week low of Rs 140 on the NSE in Monday's early trade following a notice from the government to pay tax of Rs 11,140 crore along with interest and penalty for the period July 2017 to March 2022. Management said it has received one notice for Rs 11,140 crore has been raised against Delta Corp. In another notice, Delta Corp received tax shortfall notice of Rs 5,682 crore against three of its subsidiaries — Casino Deltin Denzong, Highstreet Cruises and Delta Pleasure Cruises.

The stock market brought noteworthy developments on September 22, 2023, with several midcap companies confidently surpassing their critical 20-Day Simple Moving Average (SMA).

Benchmark indices Sensex and Nifty closed flat on Monday in a highly volatile trade amid a weak trend in global markets and continuous foreign fund outflows. After gyrating 461.6 points during the day, the 30-share BSE Sensex eked out a marginal gain of 14.54 points or 0.02 per cent to settle at 66,023.69. During the day, it hit a high of 66,225.63 and a low of 65,764.03. The broader Nifty settled marginally up 0.30 points at 19,674.55.

From the Sensex pack, Bajaj Finance and Bajaj Finserv were the top gainers. Kotak Bank, Asian Paints, and UltraTech Cement also closed higher. On the other hand, Infosys, M&M, Wipro, TCS, and Sun Pharma closed in the red

The company’s shares have been trailing the country’s benchmark gauges this year, gaining only 0.9% year-to-date. A slide since late July was further accelerated amid a consolidation in local shares after the Sensex Index hit its all-time high earlier this month.

On September 22, Friday, data from StockEdge revealed that 22 stocks had entered the overbought zone, and ETMarkets has handpicked 10 of these stocks for a closer look. This article not only explores what it means for a stock to be overbought but also delves into the significance of the Relative Strength Index (RSI) in assessing stock movements.

The National Stock Exchange, India’s largest bourse, is finalising plans to extend trading hours for equity derivatives, said three people with knowledge of the matter. The exchange is proposing an evening session, possibly between 6 pm and 9 pm, when market participants can continue trading futures and options contracts after the regular session between 9:15 am and 3:30 pm is over, said one of them. The NSE might consider extending this session to 11:30 pm at a later stage, the person said. Sriram Krishnan, Chief Business Development Officer, NSE speaks on market hours extension.

On September 22, Friday, StockEdge identified 40 stocks that were trending up, and ETMarkets has selected 10 among them for a closer look. This article explores the importance of the Relative Strength Index (RSI), a key indicator, and delves into the 10 stocks with upward-trending RSIs.

Several stocks achieved remarkable milestones by reaching all-time high stock prices on September 25, 2023.

In the current fiscal year of 2024, Indian equities have exhibited exceptional performance, with nearly all sectoral indices recording double-digit gains. The benchmark index Sensex has surged by approximately 12%. In today's market analysis conducted by ETMarkets, we found that power sector has recorded 28% gains. Further examination revealed that eight out of the 12 stocks in the BSE Power index have witnessed significant gains ranging from 25% to 100%. (Data Source: ACE Equity)These eight stocks exhibit remarkable strength in a SWOT analysis, with strengths outweighing weaknesses, indicating the potential for further increases in their stock prices, according to Trendlyne data.According to a report by Jefferies, "As India enters a phase of capex-driven GDP growth, power intensity should rise. We expect annual thermal plant load factors (PLFs) to cross 80% by FY25E, above a two-decade peak. Power generation and T&D investments should rise 2.2x to USD 280 billion in FY24E-30E versus FY17-23, and we landscape 50+ listed beneficiaries. Green hydrogen is a further potential boost. NTPC, Power Grid, and JSW Energy are our top picks. We estimate that Power Capex will grow at a CAGR of 20% from FY23 to FY26E, a substantial increase compared to the 2.2% CAGR observed between FY10 and FY20."

China-exposed luxury stocks such a LVMH and Kering shed 0.6% and 2.0%, respectively, amid continued concerns about growth in the world's second-largest economy.

The Mini Ratna travel and tourism PSU company has also launched other offers with discounts of up to Rs 2,000 off air tickets on card transactions of different banks, the company filing to the exchanges said.

The Aditya Birla Group stands as a distinguished global powerhouse and a pivotal player in the Indian stock market landscape. Shares of the group's companies are keenly observed, given their significant influence over daily stock market dynamics. With its unwavering performance, the group commands significant respect and trust from investors. Among the group's stocks, Voda Idea has given the highest returns to investors. Aditya Birla Money, Aditya Birla Sun Life AMC, Hindalco, Grasim, and Aditya Birla Capital have also managed to generate double-digit returns in FY24 so far. Take a quick look.

An equity index that houses India’s biggest operator of cinema screens as well as its top television broadcaster has lost about 6% since reaching a 17-month high in early September. Still, up 31% this quarter through Friday, the gauge is poised for its best performance since 2009.

The first IPO from the JSW Group in 13 years is all set to hit the primary market. Sajjan Jindal-owned JSW Infrastructure's initial public offering will open for subscription on Monday, September 25. The three-day issue will close on Wednesday, September 27

What would you call a company which makes both, water geysers and electrical wires, a white goods or electrical goods company. From the year 2015 to 2020, companies with strong brands in different sectors which were considered as commodity plays got re-rated by the street. The expansion in price earnings multiples of these companies led to big wealth creation. For the last three years, with some more companies getting listed in the same sector and some headwinds emerging we saw these companies consolidating between a very broad range. Are they close to a fresh breakout?

The objective of the acquisition of Anamika Sugars was to establish a presence in Uttar Pradesh, one of the largest sugar-producing states, and to cater to the markets of North and East India, the company said.