Latest Stock Market News

“We remain quite positive on the BFSI space. We think this is a space where the forgotten, the less loved banks are going to give a significant upside in terms of multiple expansion. But the well researched larger banks are going to give compounding returns over the next two to three years. So overall, this is a good space to be in. Next year, NBFCs will also join the party.”

Break above above consolidation zone of 3300-3200 and also taken out 200 SMA.

“While there will be pressures on the Indian stock market, we strongly believe that there are opportunities in the Indian market and the Indian market to an extent will not get affected the way the other developed markets or some of the other emerging markets are affected by the global headwinds.”

On the options front, the weekly maximum Call OI has shifted to 18200 then 18300 strikes while the weekly maximum Put OI is placed at 18000 and then towards 17800 strikes. Meaningful Call writing is seen at 18100 then 18200 strike while minor Put writing is seen at 17900 then 18000 strike.

Price close above upper band of falling channel containing last two months decline signalling technical pullback likely in coming sessions.

“Most multi asset allocators have a reasonably high skew towards equity as an asset class over and above the mandatory requirement. Given that these are not categories which are recommended from a one year perspective, one could initiate investment but typically, even these are investments which play out full mettle over a three-year horizon.”

Indian Oil Corporation, incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 110286.87 Crore) operating in Gas & Petroleum sector.

The government is also expected to ensure enough spending to revive the rural economy ahead of the elections. According to Nomura analysts, election related spending can support demand in sectors like FMCG and two-wheelers.

Hero Motors, the auto components arms of Hero Motors Company Group, has raised growth equity capital from private equity firm GEF Capital Partners and its LPs for 10% stake to expand its EV venture, as part of which it will set up new facilities in India and Thailand.

The FMCG major, Marico expects to post low single-digit YoY growth in the consolidated revenue for the December quarter. It expects gross and operating margins to improve both YoY and sequentially, but operating profit could see a moderate growth.