Bank Nifty option chain reflects PE writers standing tall at 43,000/43,500 strikes

Data on Thursday showing a rise in U.S. weekly jobless claims, however, has raised investor hopes that the Federal Reserve could temper its aggressive stance on interest rate hikes.

Along with the major auto companies, auto ancillary companies had been under pressure for some time. With commodity prices cooling off from their highs and increasing demand for the auto industry, select auto ancillary companies are making a comeback. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list.

However, the SIP book had a different story to tell. In November, the SIP inflow was at an all-time high at Rs 13,307 crore vs Rs 13,040 crore recorded in October. It was for the second straight month that the SIP flow was above Rs 13,000 crore mark.

These factors, coupled with macro-economic headwinds including the liquidity tightening, has left start-ups who are still burning cash at a crossroads. So, what is different about the public market investor sentiments from the private investors? Well, while public markets investors want start-ups to be more disciplined in their spend, private investors take a long-term growth perspective of business and are more patient.

The timeline of the buyback will be released later on.The stock which has a market capitalisation of Rs 2,700 crore has rallied over 32% in the last 6 months. The smallcap was trading 3% higher at Rs 183.65 after the buyback announcement.

The private lender filed the petition under Section 7 of the Insolvency and Bankruptcy Code, which allows a financial creditor to apply for initiating the process. The NCLT has issued a notice to Digital Ventures.

"With macro conditions deteriorating, positive news on this front is highly unlikely, we believe. HCL Tech also highlighted that there is greater level of vendor consolidation underway right now than in the recent past not only due to challenging macro circumstances, but also due to weeding out of a few global top 10 service providers based on risks associated with them," Nirmal Bang's Head of Research Girish Pai said.

Mukesh Ambani's Reliance Industries (RIL) has emerged as the largest wealth creator on Dalal Street in the last 5 years. With a gain of Rs 13 trillion, RIL has emerged as the largest wealth creator over 2017-22, shows Motilal Oswal's wealth creation study. Followed by TCS, Infosys, and HDFC Bank in top wealth creators list. Take a look at how much each company has created the wealth in the last 5 years with key indicators.

Expert: Nooresh Merani, an independent technical analyst told ETNow - IndusInd Bank: Buy| Target Rs 1350| Stop Loss Rs 1160

"With macro conditions deteriorating, positive news on this front is highly unlikely, we believe. HCL Tech also highlighted that there is greater level of vendor consolidation underway right now than in the recent past not only due to challenging macro circumstances, but also due to weeding out of a few global top 10 service providers based on risks associated with them," Nirmal Bang's Head of Research Girish Pai said.

Citigroup maintained its buy rating on Hindustan Unilever with a target price of Rs 3050. The company announced entry into Health and well-being which is a positive sign, the brokerage said.

As nifty continues to make new high’s, mid-caps stocks are making a comeback. Only difference is that the market is more selective in making stocks inch higher. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.

Lupin’s daily trend is bullish, however, in the last few trading sessions, it is showing weaknesses. In the last trading session, it closed in the negative with 1.9% with an extended range candle and it might go further down. Based on option chain analysis, the range is between 700 and 800. Using the PCR ratio, it is at 0.95. Let’s plan a trade around that.

China has managed to avert a hard landing by offering a relief package to the residential property developers, whether the sector will see a meaningful recovery remains a medium-term issue, according to GREED & fear.

In the NSE list of stocks with a market cap between Rs 1,000-10,000 crore, four stocks crossed their previous 5-year high value at the close on December 8, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look

Sensex jumps over 100 points; Nifty tests 18,650; Paytm surges 5%, HCL Tech tanks 4%.

In the first half of FY23, midcaps posted stronger sales (+30% YoY) but weaker EBITDA margin (avg -210bps). "But now, many sectors (eg: durables, tiles, electrodes) are alluding to softer offtake, leading us to pencil lower sales growth in H2 at +14% YoY," global brokerage firm Jefferies said in a report.It believes that select demand pockets like private capex revival and PLI upside may remain healthy. While recommending a bottom-up approach in stock selection, it has come out with 5 midcap stock ideas for 2023:

Investors are likely to build steady buying positions ahead of next week's much-awaited US monetary policy announcement. Back home, a sweeping and historic victory for BJP in Gujarat elections supported the sentiments.

“Indian Hotels is the largest listed hotel chain company in India operating several luxury hotels across all metro cities and major tourist destinations in India. IHCL operates the iconic Taj Group of Hotels, the Vivanta and SeleQtions hotels, making up two-thirds of their total number of hotels in their portfolio,” Anmol Das, Head of Research, TejiMandi, said.

IHCL has shown its dominance and pricing power with domestic travelling already in full swing, increasing foreign tourist arrivals will make occupancy levels increase to even higher than current levels allowing the further potential of premium addition in Average Room rates.

According to Nomura Financial Advisory and Securities, this tie-up opens up export avenues for Britannia, and given that Bel Group is a major player in the healthy dairy, fruit and plant-based snacks, it will give the former access to new categories from its global portfolio.

Stocks that were in focus include names like Bank of India which was up nearly 8%, Canara Bank gained over 3% and Bank of Baroda was up more than 6% on Thursday.

Bajaj Consumer Care’s board will meet for buyback of shares. Also, VIP Clothing’s board meeting is lined up to consider the issue of warrants.

ET Now spoke to various experts and here's what they have to recommend for today's trading session. Nooresh Merani has a buy/sell recommendation on Indusind Bank and City Union Bank while Kunal Bothra has a buy/sell recommendation on Axis Bank and Ambuja Cements for today's trading session. Check out the targets and stop-loss.

"Factoring in the rate hike expectation by the RBI, the long-term bond yields have gone up 82 bps in 2022 so far. Currently, the BEER ratio is trading above 1stdev, indicating a slightly expensive equity market at current levels as against the bond market," Axis Securities said in a report.

If there is some recovery in global growth and sentiment, over “6-12 months some of these markets that have become oversold may do better than India because India has outperformed so much in the last 18 months,” said Hiren Dasani, managing director at Goldman Sachs Asset Management. “But in the medium term India will do much better because of the compounding opportunity of growth.”

Nifty futures on the Singapore Exchange traded 48 points, or 0.26 per cent, higher at 18,775.50, signaling that Dalal Street was headed for a positive start on Friday. Here are some stocks which may buzz the most in today's trade.

Apart from China optimism, investors are focused on U.S. producer price inflation figures later in the day for more signs about the health of the U.S. economy, after data overnight showed some loosening in the labour market, with weekly jobless claims rising moderately.

Adani Enterprises has acquired 100 percent stake in Alluvial Mineral Resources, from Adani Infra (India). Alluvial Mineral Resources is engaged in mining of minerals & ores activities and other allied activities.

Stocks rose as investors cheered data showing the number of Americans filing claims for jobless benefits increased moderately last week, while unemployment rolls hit a 10-month high toward the end of November.

The S&P 500 ended higher on Thursday, snapping a five-session losing streak, as investors interpreted data showing a rise in weekly jobless claims as a sign the pace of interest rate hikes could soon slow.

Foreign exchange analysts are not ruling out the likelihood that some forward contracts that RBI had to honour would have come up for maturity. That could also have led to the addition of spot-dollar reserves. RBI Governor Shaktikanta Das has also underscored the focus on building up forex reserves to deal with uncertain external financial conditions.

Businesses are typically structured as corporates or trusts. The VCC is a specialised structure intended for the asset management industry specifically.

Paytm, said its board of directors will meet on December 13 to consider a proposal for a buyback of its shares.

Several banks, along with industry bodies representing money and currency market dealers, met on Wednesday to discuss the probable fallout on financial markets if the RBI and the European Securities and Markets Authority (ESMA) fail to sort out their disagreement.

Naveen Jindal-promoted JSPL acquired Monnet Power for a captive purpose. The 1,050 MW Monnet Power plant is located next to JSPL's Angul steel plant in Odisha, making the acquisition synergistic, the people cited above said.

Reliance Industries, the Adani Group, state-owned NTPC, Torrent Power, Jindal Power, Hindustan Powerprojects, Sarda Energy & Minerals and Jindal India Thermal are among some 23 entities that have expressed interest in the company.

Essar is offering ₹1,600 crore to settle ₹4,500 crore of loans taken for the Salaya plant in Gujarat's Jamnagar district, effectively giving banks a recovery of about 36% on their dues. Banks as well as Essar officials are working out legal and other details to complete the settlement, multiple persons aware of the deal, said.

Elon Musk's takeover of Twitter may also be weighing down the shares of Tesla. The electric car maker's shares have slumped more than 47% since Musk on April 14, 2022, announced the intention to buy out Twitter. Tech giants such as Apple, Microsoft, Alphabet, and Nvidia have fallen between 12% and 25% since April 14.

Trent is divesting its stake of around 3.22% of Tata Unistore on a fully diluted basis to Tata Digital. The shares of TUL will be sold to TDPL for a total estimated value of ₹24.14 crore, with no consideration of cash, but in the form of Compulsorily Convertible Preference Shares of the promoter group company.

Long-term investors can look at buying the stock now or on dips for a possible target towards Rs 500 in the next 4-5 quarters, which translates into an upside of nearly 200% from Rs 177 recorded on December 7, suggested experts

At 10:43 a.m. ET, the Dow Jones Industrial Average was up 241.67 points, or 0.72%, at 33,839.59, the S&P 500 was up 32.12 points, or 0.82%, at 3,966.04, and the Nasdaq Composite was up 130.60 points, or 1.19%, at 11,089.15.

“The bulls came back strong and knocked out the bears with full force surpassing the hurdle of 43,500 on a closing basis. The index confirms the continuation of the uptrend towards 44,000-44,600 levels on the upside. The lower-end support stands at 43,000, which will act as a cushion for the bulls. The index remains on a ‘buy’ mode and any dips should be utilized to initiate fresh long positions,” Kunal Shah, Senior Technical Analyst at LKP Securities, said.

"Zomato seems to have captured incremental market share against Swiggy. We remain positive on Zomato with a fair value is closer to Rs 100," Shrikant Chouhan, Head of Equity Research (Retail) Kotak Securities, said.

The stock ended 0.3% down at Rs 508.40 on the BSE. Year-to-date, the stock has fallen by more than 67%.

The announcement of a $500 million injection into its India unit comes after Reuters reported last month that Apple supplier Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, with two government officials with knowledge of the matter pointing to a production adjustment as it faces disruptions in China.

The Dow Jones Industrial Average rose 98.05 points, or 0.29%, to 33,695.97 at the open

Benchmark index Sensex closed higher by about 160 points to 62,570 on Thursday. During this rally, four stocks from the BSE commodities index managed to touch new 52-week highs.s current value and for predicting its future price movement.The 52-week high is the highest price at which a stock has traded during the last year. Some traders and investors use this technical indicator as an important factor for analysing a stock's current value and for predicting its future price movement.

The all-equity round is expected to close in the next two weeks and may take Walmart-backed PhonePe's valuation close to $13 billion, according to the report.