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Sectoral performance was mixed, as the auto, FMCG, and energy sectors emerged as the top gainers, while the realty and banking sectors faced pressure.

The vertical rise on Thursday, provided a clean break out beyond the consolidation that persisted in the previous nine days, encouraging us to look forward to reclaiming 24770. However, the near 50% retracement of those gains on Friday has put the trend evenly poised.

Our ESG fund was launched with a specific objective: to invest in small and mid-cap companies that are poised for significant growth while maintaining strong corporate governance and a minimal environmental footprint.

Under the current rules for FPI, NRIs are restricted from owning more than 50% of a fund’s capital, and no individual NRI can hold more than 25%. However, in GIFT City, these restrictions were relaxed, allowing NRIs to hold up to 100% of the fund’s capital.

HG Infra Engineering reported a 16% year-on-year (YoY) decline in net profit, which stood at Rs 80.7 crore for the second quarter ending September 30, 2024, compared to Rs 96.1 crore in the same period last year, according to a regulatory filing.

The Indian market is expected to trade higher on 6 January 2025, with Nifty futures closing in the negative on 5 January. Experts suggest a trading range of 23,500–24,400, with support at 24,000. Top stock recommendations include PolicyBazaar, Coromandel International, Macrotech Developers, Eicher Motors, Jubilant FoodWorks, IRFC, PFC, Britannia Industries, and Bata India for short-term investors.

Motilal Oswal Financial Services recommends holding V-Mart Retail, setting a target price of Rs 4,750. The current market price is Rs 3877.65. For the quarter ending September 30, 2024, V-Mart reported a total income of Rs 662.74 crore. The company had a net loss of Rs 56.51 crore. Promoters hold a 44.31% stake as of September 30, 2024.

Indian benchmark indices Sensex and Nifty50 opened higher but then dipped as Bajaj Finance reported a 28% YoY rise in assets under management. IT stocks surged ahead of the quarterly results season, while the external macro construct remains challenging with high US bond yields affecting FII flows.

Gold and silver futures have shown volatility in January, with gold up Rs 500/10 grams and silver rising Rs 2,000/kg. Gold’s support at Rs 77,080-76,850 and resistance at Rs 77,600-77,850. Silver’s support is at Rs 88,650-88,100, with resistance at Rs 89,900-90,500. Mixed global economic data has driven demand for precious metals amid dollar and bond yield strength.