Tag: HDFC Bank share

A calm end to the week. Nifty Auto stocks performs again.

NIFTY opened the day at 15,657 with a gap-up of 100pts. The index had a less volatile day, moving mostly in a 100 pts region. 15,630 – yesterday’s resistance acted as a good support today. Nifty closed at 15,699, up by 142 points or 0.92%.

BANK NIFTY started the day at 33,434 and fell into a consolidation mode.The index moved in a 220 pts region, using 33,450 as a support. Bank Nifty closed the day at 33,627, up by 492 points or 1.4%.

All sectoral indices except Nifty IT (-0.9%) closed in the green today. Nifty Bank (+1.4%), Nifty Auto (+1.9%), Nfty Media (+2.5%), Nifty Metal (+1.6%) and Nifty PSU Bank (+1.9%) closed with good gains.

Major Asian markets closed in the green today. European markets are all trading 1-2% in the green.

Today’s Moves

Once again Nifty Auto stocks stole the show. M&M(+4.3%), Hero MotoCorp (+3.2%), and Eicher Motors (+2%) featured in the Nifty 50 Top Gainers list.

Hero MotoCorp has increased the prices of its scooters and motorcycles by up to Rs 3,000. 

All the stocks from Nifty Bank and Nifty PSU Bank closed in the green. Bandhan bank (+2.9%), Federal Bank (+2.7%), ICICI Bank (+2%), IDFC First Bank (+4.2%), IndusInd Bank (+2.7%) moved the most from Bank Nifty.

S&P has affirmed a stable outlook for ICICI Bank (+2%). 

Only eight stocks from Nifty 50 closed in the red and five of them are from IT sector. TechM (-1%) and INFY (-0.78%) fell the most.

Mindtree (-2.8%), LTI (-2.4%), Mphasis (-2.1%), LTTS (-2.1%) also moved down. 

Dwarikesh Sugar (+8.9%) shot up after increasing the distillery capacity at Dwarikesh Dham unit.

Nazara Technologies closed above the 600 level after the bonus issue today. The stock was down 70% from its 52-week high before the bonus issue.

Route Mobile (+5.6%) once again moved up after the buyback plan.

Canara Bank (+2.2%) has approved raising up to Rs 9,000 crore via debt instruments in this fiscal year.

Thomas Cook (+8.5%) saw the highest volume in June as the promoter group bought 2.81 crore shares via the open market.

Markets Ahead

15,700-750 region is the next immediate resistance zone for Nifty. As we discussed yesterday, the weekly setup is indicating more upside movement if this zone is broken. On the downside, we can watch 15,630 as immediate support.

Many global IT companies are reporting good quarterly numbers. Will there be a strong pre-result rally in Nifty IT in the coming weeks?

Nifty Auto made the biggest weekly gain of more than 6% since February 2021. It will continue to be under the radar as monthly sales numbers are expected next week.

Nifty Metal ended as the worst performer of the week, down 3%. 

Michael Patra, Deputy Governor of RBI said today that the monetary policy action is in the direction and inflation will fall into limits during next Jan-march period. This gave some confidence to the market.

Global cues are currently supportive. Where do you see the Nifty next week? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

NIFTY opened the day at 15,451 and moved nearly 180 pts up to find resistance at 15,630. At this point all the indices were trading well in the green, indicating an uptrend day. Surprising everyone, the index then fell more than 250 pts from the day’s high. 

NIFTY added more thrill to the expiry by bouncing 200 pts from the day low and closed at 15,556, up by 143 points or 0.93%.

BANK NIFTY started the day at 32,927 and the index was no different compared to Nifty. It fell nearly 800 pts from the day high and then recovered 600+ points from there. Bank Nifty closed the day at 33,135, up by 289 points or 0.86%.

All sectoral indices closed in the green today. Nifty Auto (+4.3%) had an interesting day along with Nifty IT (+1.9%), Nifty Media (+1.5%), Nifty Pharma (+1.5%) and Nifty Realty (+1.6%).

Major Asian markets except Taiwan closed in the green today. European markets are all trading flat to red.

Today’s Moves

Nifty Top Gainers list is ruled today by Nifty Auto stocks. Maruti(+6.2%), Hero MotoCorp (+5.9%), Eicher Motors (+5.8%), M&M (+4.4%), Bajaj Auto (+4.1%), and Tata Motors (+3.5%) found its own place.

UPL (+3.3%) bounced back after hitting a fresh 52-week yesterday.

It wasn’t a good day for energy related stocks. Reliance (-1.6%), GAIL (-1.4%), Torrent Power (-1%), Power Grid (-1%), NTPC (-0.85%) closed in the red.

Asian Paints (+3.4%) gained more investor confidence after Promoter released a pledge of 2.8 lakh shares on June.13

IRB Infrastructure (+7.1%) closed in the green as the company received Rs 308 crore from IRB Pathankot Toll Road out of a total claim of Rs 419 crore.

Spandana Sphoorty (+20%-UC) shot up after the company said that its board and the founder Ms. Padmaja Reddy (Ex-MD) have resolved their issues.

Route Mobile (+8.5%) saw strong buying after the company announced its plan to consider proposal of buyback on June 28.

Markets Ahead

Do you remember those days when we all considered Nifty as less volatile?

Nifty was in an uptrend till 11 am and then it created a downtrend in the next two hours. Interestingly, during all the India VIX was so calm and closed just 1.9% down. As we discussed earlier Nifty is highly unpredictable now and has momentum on both sides. 

Talking about Bank Nifty it looks like the index has strong support in the pre- Covid high near the 32,650 regions. We should be watching for a good weekly green candle from there to get some relief.

Vedanta is trading at the 220 region which has been acting as a major level since 2008. Keep a watch on the stock.

In the daily candle, Nifty is giving some positivity around the 15,350 region and RSI indicator is also supporting this. We may see some greenery in the near term, but don’t forget, ‘sell on rise’ is not yet over.

Today was a trap for both sellers and buyers. How was your day? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

Markets lose most of yesterday’s gains and move down.

NIFTY opened the day at 15,563 with a gap-down and moved down. After a fall of nearly 140 points, the index tried to bounce back but fell again. By closing time, the index reached the day-low. NIFTY closed the day at 15,413, down by 225 points or 1.44%.

BANK NIFTY started the day with a gap-down at 33,104. After a 350-point fall in the first 20 minutes, the index mostly moved sideways for the day. Ending near the day-low, Bank Nifty closed the day at 32,845, down by 346 points or 1.04%.

All sectoral indices closed in the red today. NIFTY Metal (-4.8%), NIFTY Media (-3.5%) and NIFTY Realty (-2.1%) fell the most today.

Major Asian markets closed in the red today. European markets are all trading in the red.

Today’s Moves.

BPCL (+1.5%) closed in the top-gainers of NIFTY 50 as traders expect the international crude oil price fall to help the company. Hindustan Petro also moved up.

However, oil exploration stocks including ONGC (-3%), Reliance (-3%) and OIL (-2.3%) closed in the red.

Similar to recent days Nifty Metal and Nifty Media stocks were crushed down again. Hindalco (-6.7%), Tata Steel (-5.2%) and JSW Steel (-4.4%) closed in the red from NIFTY 50.

National Aluminum (-6.2%), Jindal Steel (-5.9%), Vedanta (-5.9%), and Hindustan Copper (-7.3%) also fell.

From the Media sector, Dish TV (-7.7%), Network18 (-5%), SUNTV (-8.7%) and ZEEL (-4.6%) fell heavily.

Indigo (+1.1%) moved up after May’s Domestic air passenger traffic increased 11% from April. SpiceJet (-6.8%) however looks weak and hit its lowest since April 2020.

NIFTY 50’s fertiliser stock UPL (-6.2%) fell to hit a 52-week low.

Shares of Matrimony (+6.6%) gained after approving the buyback of shares at a price of Rs 1150/share. The current market price is around Rs 800.

Markets Ahead

International Brent crude has weakened with fear of a fall in demand. The U.K.’s inflation data for May also remain high at 9.1%.

The U.S. Dow Jones had moved up yesterday night but the Futures data today shows weakness.

Tomorrow is the weekly expiry, the second last one for the month of June. We can expect volatility in the market.

Indian Rupee fell to 78.28 per US Dollar to a record low. More and more Foreign Investments are being pulled from the country

Our market is also looking weak but the obvious support at 15,200 may take care of it for tomorrow. On the upper side, yesterday’s high could act as an intraday resistance.

Are you investing in these dips? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

A strong recovery rally across the market as international stocks move back up.

NIFTY opened the day at 15,460 with a gap-up. After an initial fall, the index started flying up. After breaking the 15,500 resistance, there was no looking back till a day-high was created around 2 PM. NIFTY closed the day at 15,638, up by 288 points or 1.88%.

BANK NIFTY started the day with a gap-up at 32,981. After a small fall, the index of banks bounced back from 32,800 and shot up. A total 800-point rally was seen from the day-low with a fall near closing. Bank Nifty ended the day at 33,191, up by 507 points or 1.55%.

All sectoral indices closed in the green. NIFTY Media (+5.4%), NIFTY PSU Bank (+4%), NIFTY Realty (+3.6%), NIFTY Metal (+3.9%) and NIFTY IT (+3.1%) gained back the most.

Major Asian markets closed in the green today. European markets are all trading in the green.

Today’s Moves.

All stocks from NIFTY 50 closed in the green or flat.

Titan (+5.9%) bounced back up from multi-month lows and closed as the top-gainer in NIFTY 50 after the stock featured in Macquarie’s Asia ‘buy’ list.

Hindalco (+5.5%), JSW Steel (+4.7%) moved up from the metals sector. SAIL (+6%), Hindustan Copper (+7.4%) and Ratnamani (+12%) also jumped back.

Adani Total (+20%) closed at an upper circuit and gained back from the last 2 days’ fall. Sugar stock Eid Parry (+17.6%) and Gujarat State Fertiliser (+17.4%) also moved up sharply.

Goa Carbon (+15.5%) shot up after resuming operations at its Goa plant.

Markets Ahead

The market bounced back today with equal strength from all stocks and NIFTY reclaimed the 15,600 mark.

But if we observe the important levels of NIFTY, the 15,750 zone is a zone it was respecting for many months. Now that the market is below it, the level may act as a resistance while moving back up.

Bank Nifty is also bouncing back from its 52-week low, and if NIFTY reclaims the 15,750 zone we can say that the market has stabilised a bit.

NIFTY Midcap and Smallcap are also trying to recover from a year’s low. 

The major boost was given by U.S. Dow Jones Futures opening the week in the green today. Currently, the index future is up 1.6%. Let us see how their market performs tonight.

Did you catch the rally today? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

Markets open the week in green with HDFC Twins looking strong.

NIFTY opened the week at 15,334, nearly flat. After opening, the index took support from its 52-week low and continued Friday’s consolidation. NIFTY closed the day at 15,350, up by 56 points or 0.37%.

BANK NIFTY started the day with a slight gap-up at 32,873. Yesterday’s support at 32,480 was taken and the index bounced back twice. Bank Nifty ended the day at 32,684, down by 58 points or 0.18%.

NIFTY FMCG (+1.8%) and NIFTY Finserv (+0.96%) moved up. NIFTY Metal (-3.9%), NIFTY Media (-2.5%) and NIFTY PSU Bank (-2.4%) closed in the red.

Major Asian markets closed mixed in the day. European markets are all trading in the green.

Today’s Moves

The Bombay High Court has restricted Sebamed from comparing to that Hindustan Unilever’s Dove, Pears and Lux. The stock closed as the Nifty 50 top gainer, up 4%. 

Other FMCG stocks – Dabur (+3.3%), GodrejCP (+4.6%), Marico (+2.4%) and Nestle (+1.9%) also moved up.

HDFC Bank (+2.5%), HDFC (+4%) and Infosys (+1.9%) helped Nifty to close in the green, contributing 93 pts to the index. 

But Reliance (-1.8%) fell today. 

ONGC(-5%), BPCL (-1.6%), GAIL (-5.6%), ATGL (-7.4%), Reliance (-1.8%), OIL (-10.8%), MRPL (-18.9%), Chennai Petro (-15.2%) and IOC (-1%) closed in the red, following the weakness in crude oil prices.

Gaining from the crude oil fall, Asian Paints (+3.1%), Berger Paints (+3.2%) and Nerolac (+3%) performed well.

While Nifty went into consolidation, Nifty Metal (-3.9%) was getting hammered in the background. Coal India (-3.1%), Hindalco (-3.6%), Hind Copper (-9.4%), Hind Zinc (-3%), Jindal Steel (-4.8%), NMDC (-3.6%).

National Aluminum (-6.8%), SAIL (-5.1%), Tata Steel (-5%), Vedanta (-12.6%), and Welcorp (-8.6%) took the hit.

Metal stocks have been falling since Govt imposed export duty.

Cement related stocks – UltraTech Cement (+3%), Shree Cements (+2%), Ramco Cements (+2.4%), JK Lakshmi (+3%) and Grasim (+2%) moved up.

Adani Wilmar closed in the 5% lower circuit as the company slashed the prices of its edible oils by Rs 10. 

DGCA has started an investigation on SpiceJet Patna- Delhi flight fire and two other air incidents, involving the IndiGo (-5%) and SpiceJet (-6.6%) flights.

All the PSU Banks closed in the red ahead of Finance Minister’s review meeting with the chiefs. Bank Of Baroda (-4.1%), Canara Bank (-3.4%), IOB (-3.7%), J&K Bank (-4.3%) fell the most. SBIN moved down by 1.4%.

Markets Ahead

Consolidating Nifty and Bank Nifty are the most dangerous ones because they are really close to important support zones. Keeping 15k and 14,750 as Nifty supports in mind, we really need just a quick movement on the downside to reach there. 

Even though Nifty and Bank Nifty were resting, Nifty Midcap100 (-2.2%) and Smallcap100 (-3.2%) continued the fall indicating that the market is still in a mood for a sell-off.

Bank of America said that the US economy has a 40% chance of being in a recession next year as inflation remains high. The U.K is also having a recession fear. 

2 days of confusing green candles in NIFTY. If recovery does occur, the level to look out for would be 15,750 on the upper side.

Do you think the market will reverse from here? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

Markets stay flat as bulls and bears fight after yesterday’s fall.

NIFTY opened with a slight gap-down at 15,306. The index fell to the 15,200 level but managed to bounce back up. Mostly the index moved sideways with huge volatility. NIFTY closed the day at 15,293, down by 67 points or 0.44%.

BANK NIFTY started the day with a gap-down at 32,743 and fell. The index took support near 32,300 and shot back up. The day was filled with such falls and upmoves. Bank Nifty ended the day at 32,743, up by 126 points or 0.39%.

NIFTY Pharma (-2.1%) and NIFTY IT (-1.4%) fell in the day. FMCG (-0.97%) and Auto (-1.1%) stocks also had a tough trading session.

Major Asian markets closed mixed in the day. European markets are all trading in the green currently.

Today’s Moves.

Bajaj Finance (+2.5%) and Bajaj Finserv(+2.4%) closed as the top-gainers after falling sharply yesterday.

Titan (-6%) fell more than 6% in the day, hitting the lowest since last August.

^{Sun TV (+5.7%) moved up after Kotak Equities upgraded its view on the stock.}

^{Rama Steel Tubes (+4.8%) board has scheduled its meeting on July 05 to consider and approve the}

^{sub-division of equity shares.}

^{Delta Corp (+12.3%) closed very well as its gaming arm filed IPO papers with SEBI.}

^{Rajesh Exports (+6.2%) has confirmed the news saying that the company is setting up an e-display unit in Telangana, an investment of Rs 24,000 crore.}

^{Wipro (-4%) fell sharply today, and is down 45% from its all-time highs.}

Markets Ahead

Nifty has formed a red weekly candle again, marking the lowest close since the week ended May 24 of last year. It’s time to add 14,900-15,000 as the next major support zone to the watch list. 

Considering the performance in recent weeks, we must be watching 14k also as a strong support, which is near to the Fibonacci level.

It is not easy to digest that the market has given up one year’s gain. Bank Nifty has fallen nearly 5% this week compared to last week.

But Reliance is trading at a higher level and showing strength. Now that the shock of the interest rate hike is done, Reliance can act as a boost for NIFTY.

The U.S. market futures are trading higher, and might end in green tonight. Along with global market movements, we can watch if NIFTY manages to close above the 15,750 zone in the coming week.

U.S markets will closed on Monday, enter your trades keeping this in mind.

How did this week go for you? Let us know in the comments section of the marketfeed app!

ee you at The Stock Market Show at 7 PM!

Market hits a new 52-week low and reaches the oversold zone after the Federal Reserve’s interest rate hike.

NIFTY opened with a gap-up of 140 points at 15,832. But from here, there was a constant selling pressure which saw the index breaking multiple supports. A total 500 points fall was seen from the day-high and NIFTY closed the day at 15,360, down by 331 points or 2.11%.

BANK NIFTY started the day with a gap-up at 33,676. Just like NIFTY, the index first took support at yesterday’s low. A further fall was seen and the index touched the 32,500 zone. Bank Nifty ended the day at 32,617, down by 722 points or 2.17%.

All sectoral indices closed in the red. NIFTY Metal(-5.24%), Nifty Media (-3.2%) and NIFTY Realty(-2.8%) fell the most.

Major Asian markets closed mixed in the day. European markets are all trading in the red currently.

Today’s Moves.

A big fall after the U.S. Federal Reserve announced a 75 basis points interest rate hike.

Only three Nifty 50 stocks closed in the green, all from the FMCG sector – Nestle (+0.43%), Britannia (+0.15), and HUL (+0.01%).

Metal stocks are always vulnerable to market falls. Tata Steel (-6%), Hindalco (-6%), and Coal India (-5.3%) featured as Nifty 50 Top Losers. 

Adani Ent (-4.6%), HindCopper (-5.3%), JSW Steel (-3%), Jindal Steel (-6.2%), NMDC (-5.3%), SAIL (-4.9%), and VEDL (-8.2%) also moved down.

RBL Bank (-7.7%) continued finding fresh 52-week lows. It is looking like the next Yes Bank for long-term investors.

Tata Motors (-5.1%) said in its annual report that the recent lockdown in China is adversely affecting its operations. Also added that they will be temporarily closing some dealerships and plants.

^{Spicejet (-6.7%) saw a sharp fall after jet fuel hit an all-time high. Indigo also fell 5%.}

Markets Ahead

What looked like it was going to be a bullish day quickly proved otherwise. The U.S. markets had closed with more than 1% gains after the Fed announcement.

Even the last Fed interest rate hike saw the U.S. markets closing in the green, and a deep red on the day after that. Similarly, the Dow Jones Futures are more than 1.9% in the red now. So just like last time, their markets will fall tonight after the green closing on the day of the rate hike.

Our markets predicted this fall and fell today itself. Tightening policies and interest rate hikes will put pressure on global capital markets.

Being the weekly expiry, bears would have made a lot of money in the market. How did your day go? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

Markets continue the volatile consolidation ahead of Fed announcement.

NIFTY opened with a gap-down at 15,749 and was volatile. Overall the index could not break yesterday’s high or low. It traded in a 100-point zone for the whole day but closed near the day-low. NIFTY closed the day at 15,692, down by 39 points or 0.25%.

BANK NIFTY started the day at 33,358 and traded with volatility. It tried to move up and even broke the 33,500 zone afternoon. But after 2 PM, the index fell back by breaking the trendline. Bank Nifty ended the day at 33,339, up by 27 points or 0.08%.

All sectoral indices closed with consolidation. NIFTY Auto(+0.92%) moved the most in the day.

Major Asian markets closed in the red today. European markets are all trading in the green currently.

Today’s Moves.

Bajaj Finserv(+4.17%) and Bajaj Finance(+2.03%) closed among the top-gainers in NIFTY 50. The stocks are bouncing back after Monday’s fall.

Tata Motors(+2.21%) showed strength along with Hero MotoCorp from the auto sector.

Tata Steel(-3.67%) closed as the top-loser in NIFTY 50 after accounting for a Rs 51 dividend.

ONGC(-2.92%), NTPC(-2.15%) and Reliance(-1.21%) fell back in the volatile market.

AU Bank(+4.08%) moved up from the Bank Nifty group of stocks. IGL(+4.01%), PEL(+3.95%) and Polycab(+3.12%) were among other F&O stocks which moved up in the day.

Markets Ahead

Markets are awaiting the U.S. Federal Reserve’s interest rate hike decision tonight. 

Many expect different outcomes from this decision, and this can become a huge factor in tomorrow’s market volatility. Some market participants expect a 50 basis point increase in interest rate, while some fear a higher hike of nearly 75 basis points.

If a higher rate hike is announced, the market might move negatively tomorrow. Again, instead of predicting our situation from the rate hike news, we can look at how the global markets react tonight.

The sharp increase in option premiums and our volatility index towards the market closing indicate high speculation for tomorrow. Also being the weekly expiry, you can expect big moves to either side. Trade with caution or keep away depending on your skill and risk tolerance!

What do you think will happen overnight? Will markets open with a huge gap-up or gap-down? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

Markets trade with volatility and close slightly in the red.

NIFTY opened with a gap-down at 15,594 and was highly volatile for the first 30 minutes. Eventually, the index moved higher, but it could not reach yesterday’s high. After falling back to the day low, NIFTY closed the day at 15,732, down by 42 points or 0.27%.

BANK NIFTY started the day at 33,188 and moved very similarly to NIFTY. Even though the index moved up 500 points from the day-low, this was not sustained. Bank Nifty ended the day at 33,311, down by 94 points or 0.28%.

All sectoral indices closed with consolidation. NIFTY Realty moved the most in the day.

Major Asian markets closed in the red today. European markets are also trading in the red currently.

Today’s Moves.

As electricity plants across the country run at full capacity, NTPC (+1.6%) featured in the top-gainers of NIFTY. 

Bajaj Auto (-5.1%) crashed intraday after temporarily suspending plans for share buyback.

BPCL (-1.1%) and Hindustan Petro (-5.6%) hit multi-year lows as the investors fear the companies will be taking on more losses as international crude oil prices move up. Shares of IOC (-2.9%) also fell.

Meanwhile, Russian oil now accounts for 18% of India’s total crude imports.

Adani Enterprises (+5.6%) moved up after Total Energies acquired a 25% stake in its subsidiary Adani New Enterprises. They have partnered to take forward the green hydrogen business.

LIC (+0.91%) shares closed in the green for the first time since May 30.

Ashok Leyland (+1.2%) moved up in a weak market as the EV arm is expected to announce a new electric bus platform. However, the company’s Chief Operating Officer resigned after market hours.

Markets Ahead

India’s Consumer Price Inflation came out yesterday at 7.04% against an expected 7.1%. Even though the inflation has cooled down, it is still above the RBI’s comfort level of 6%.

This was why the Indian markets mostly traded flat despite global markets continuing their fall. Even SGX NIFTY was stable yesterday night.

However, in May month Wholesale Prices inflation came out at 15.88%, the highest ever.

Looking at NIFTY’s 1-day candles, it has definitely fallen below the May month’s low of 15,740. Now the next level to look out for is 15,650, which is its lowest since July last year.

Bank Nifty is still staying above its support level of 33,000. Will be watching for a bounce-back up from this level if NIFTY also reverses.

What do you think? Is this a minor fall or just the beginning of a bigger one? Let us know in the comments section of the marketfeed app!

See you at The Stock Market Show at 7 PM!

NIFTY opened with a huge gap-down of 324 points at 15,877 and started falling to take support at 15,750. After breaking that level, the index hit a three-month low at 15,687 and took support near the 2022 year low. A fall of 500+ points brought some buying and NIFTY closed the day at 15,774, down by 427 points or 2.64%.

BANK NIFTY started the day at 33,728 with a gap-down of 755 points. The index was in a free-falling mood for the first hour and then took some support, thanks to the 33,200 level. Bank Nifty ended the day at 33,405, down by 1077 points or 3.13%.

All sectoral indices closed in the red. Bank Nifty (-3.1%), Nifty Finserv (-3.1%), Nifty IT (-4.1%), Nifty Media (-3.9%), Nifty Metal (-3.8%), Nifty PSU Bank (-3.5%), and Nifty Realty (-3.1%) crashed down.

Asian markets closed in the red today. European markets are also trading nearly 2% down.

Today’s Moves

RBL Bank (-22.6%) fell more than 20% after appointing a new CEO and MD. Brokerage firms have raised many concerns about their future and are having a bearish view of the stock. 

Pidilite Industries (+1.1%) closed in the green based on good brokerage updates.

Nifty 50 Top Losers list is majorly filled with financials and IT stocks. Bajaj Finserv (-7%), Bajaj Finance (-5.4%), IndusInd Bank (-5.2%), TechM (-5.2%) and Hindalco (-5%) fell more than 5% intraday.

Tata Motors (-4.9%), ICICI Bank (-4.4%), Adani Ports (-4.2%), TCS (-4.1%) and NTPC (-4%) also featured in the list.

Bajaj Finance (-5.4%), Bajaj Finserv (-7%), Tata Steel (-3.1%), UltraTech (-2.8%) hit 52-week low during strong market fall.

Finance stocks including CholaFin (-6.3%), IBull Housing (-6.3%), and M&MFin (-6.1%) were crushed down.

Markets Ahead

Indian market is copying the global sell-off. US markets fell around 3% on Friday and other major markets are also showing a sharp fall.

Experts are saying that ‘rising crude oil prices, interest rate hikes are kind of a situation that happened just before past recessions in the US. Also US bond market is having an inverted yield curve, indicating an economic recession.

The global market sell-off will continue for a few more days. US Fed meeting this Wednesday may fuel the current fall. Analysts are expecting a minimum of 175 bps interest rate hike in the U.S this September.

Talking about our market, India’s May CPI data will be released at 5:30 PM today. The estimate is at 7.1% against 7.8% for April month. This is still above RBI limits, which means we will definitely face aggressive interest rate hikes in the coming months. 

Nifty is trading near this year’s low, which is very alarming and will be watching 15,500 on the downside.

Bank Nifty has again reached its support zone above 33k. But we can’t expect to see an immediate rebound.

The market is having a strong downside momentum, not a good time to consider new swing positions. But it looks like the coming months are a great opportunity for investing in a disciplined-slow pace manner. Take these days to find fundamentally strong stocks and just plan your future!

See you at The Stock Market Show at 7 PM!

Markets close at their lowest point for the week.

NIFTY opened with a gap-down at 16,306 and kept moving lower. The index even broke the support zone at 16,200 after noon. NIFTY closed the day at 16,201, down by 276 points or 1.68%.

BANK NIFTY started the day at 34,752 with a gap-down of 250 points. The index kept on falling throughout the day at specific intervals. After a total fall of nearly 400 points from the day-high, Bank Nifty ended the day at 34,483, down by 601 points or 1.71%.

All sectoral indices closed in the red. NIFTY IT, NIFTY Finserv and Bank Nifty saw the worst falls.

Asian markets closed in the red today. European markets are also trading in the red.

Today’s Moves

Kotak Bank (-3.9%) closed as the top loser in NIFTY 50. It was accompanied by Bajaj Finance (-3.9%) and HDFC (-3.7%) from the finance sector.

Transformers and Rectifiers (+8.5%) share shot up after getting orders of transformers for a value of Rs 186 crores.

PNB Housing (-7%), Indiabulls Housing (-4.2%) and other finance stocks ended in the red.

Welspun Enterprise (-8.4%) moved up after UK-based global investor Actis bought road assets of the company for Rs 6,000 crore.

Power Ministry says India’s electricity demand records a new high of 2.1 lakh MW.

Markets Ahead

There is fear in China over local banks collapsing and the strength of the financial institutions. Asian markets moved lower because of this.

Expecting more developments over the weekend regarding this. The inflation data from the U.S. is also expected tonight. European markets are trading lower in fear of this.

Bank of England said that UK’s 12-month inflation expectations are at the highest on record. Market participants around the world are looking at this key inflation data a month after interest rates were increased.

With today’s fall, NIFTY has lost its 3-week winning streak. The NIFTY IT index has fallen for 9 out of the last 10 weeks.

As the week closes, stay updated on the inflation data and the news from China about weakness in the banking system.

See you at The Stock Market Show at 7 PM!

Markets move up after opening in the red.

NIFTY opened with a gap-down at 16,279 and moved up. The index tried to move up but fell back to the 16,340 zone. But after 1 PM, the index started gaining strength from this level and shot up. NIFTY closed the day at 16,478, up by 121 points or 0.74%.

BANK NIFTY started the day at 34,809 and fell 150 points. The index traded in red till near 3 PM. And just in the last 30 minutes, the index moved up nearly 200 points. Bank Nifty ended the day at 35,085, up by 139 points or 0.40%.

NIFTY Pharma (+1.2%) and NIFTY IT (+0.98%) performed well in the day. Meanwhile, NIFTY Metal (-1.3%) fell considerably.

Asian markets closed mostly in the green today. European markets are mostly trading in the red.

Today’s Moves

Dr Reddy (+2.9%) and SunPharma (+1.3%) closed in the top-gainers of NIFTY 50. Most Pharma stocks closed in the green.

Biocon (+5.1%) shot up after a positive brokerage report. The stock is trying to bounce back from a 2-year low it made yesterday. 

BPCL (+2.7%), Reliance (+2.7%) and ONGC (+1.3%) closed well in the green in NIFTY 50 from the energy sector.  

OIL, Hindustan Petro, IGL and IEX also moved up. 

UK Natural Gas futures jump 25% on US LNG outage.

Tata Steel (-3.8%) took resistance at the Rs 1,100 zone once again and fell sharply. 

PNB Housing (+15.1%) shot up and touched its highest since April 21st. 

IFB Industries (+9.2%) moved up after reports that the government may ban imports of refrigerators to boost the local industry.

AU Bank (-51.2%) shares went down by half after the 2:1 stock split came into effect.

Markets Ahead

Mutual Fund reports from May show a healthy inflow of more than Rs 18,500 crores into equity funds. SIP inflows also increased slightly for the month to Rs 12,280 crores.

The weekly expiry ended with some bullish moves. It was the sort of move that we have come to expect from a weekly expiry!

There was a crazy move once NIFTY managed to cross the day-high. And now as the week is nearing its end, we can expect more such moves in the market. 

Keep an eye on Reliance which shot up nearly 3% from the day-low. Kotak Bank is also taking support at the bullish trendline.

See you at The Stock Market Show at 7 PM!