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Mukul Agrawal publicly holds 55 stocks with a net worth of over Rs. 4,728.3 crore

“We are of the view that, 20-day SMA or 21,500/71,250 could act as a sacrosanct support level for the traders. Above the same, the pullback formation is likely to continue. Above which chances of hitting 21,720-21,760/71,900-72,100 would turn bright. However, below 20 day SMA or 21,500/71,250 the selling pressure is likely to accelerate. Below which, the market could slip till 21,400-21,355/71,000-70,800,” said Shrikant Chouhan of Kotak Securities.

​Indian government bond yields ended largely unchanged on Wednesday as traders refrained from placing big bets ahead of crucial domestic and U.S. inflation data, which will give more clarity on the interest rate path in both countries.

The premium valuation of Indian equities at 20X forward earnings is well supported by its high RoE of 16% — well above the 10.7% Asian regional average ROE — the HSBC release said quoting its CIO.

Positive setup was seen in stocks like DLF, Siemens, ABB, Apollo Tyre, Oberoi Realty, Abbot India, Hero MotoCorp, Trent, HPCL, Indigo, HDFC Life, Apollo Hospital, Sun Pharma, Bharti Airtel, L&T and Tata Motors.

From the Sensex pack, HCL Tech, Wipro, Titan, Nestle, and Sun Pharma opened higher, while NTPC, Axis Bank, Bharti Airtel, Power Grid, and HDFC Bank opened lower.

FPIs sold power sector stocks to the tune of Rs 2,869 crore and Rs 2,952 crore in October and November, respectively after a massive Rs 9,731 crore selloff in September. Although, they re-entered the sector in December to buy shares worth Rs 1,051 crore.

Amit Goel says: "In the first half of 2024, we believe that domestic inflows are going to be very strong and FII inflows are going to be marginal. Not very positive, not very negative. But in the second half, we expect that the FII outflows could be substantial. So there could be FII outflows to the tune of maybe about $30-40 billion in the second half."