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DLF shares up 0.62% as Nifty drops

Updated at : 2024-07-10 10:20:01

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A total of 31,172 shares changed hands on the counter till time (IST).

The hacker said he had released only a part of the data. However, according to a private cyber security consultant, the data seems to be from 2023.

“Ajay Vora says overall profit growth for FY25 is expected to come from banks and metals because last year a large part came from autos, but this time, auto as a sector or even IT as a sector is going to be pretty muted. But banks and metals will be contributing in a big way.”

The Future & Options contracts of any stock enter a ban period when its open interest (OI) exceeds 95% of the market-wide position limits (MWPL). The ban is lifted only when the open interest falls below 80% of MWPL

Nifty hit 24,443, forming a Bullish candle with a 110-point gain. India VIX rose 12% to 14.31 before Budget 2024. Chandan Taparia from Motilal Oswal suggests a Bull Call Spread strategy. Immediate range is 24,200-24,600; small declines could lead to 24,750-25,000. Option data shows a broader range of 24,100-24,700; follow-up buying intact.

After the record date, Raymond will trade ex-Raymond Lifestyles, with the new entity expected to be listed by August or September this year. As part of this restructuring process, Raymond will demerge its lifestyle business into Raymond Lifestyle. Ray Global Consumer Trading will be amalgamated into Raymond Lifestyle to streamline the group structure.

The Indian market is poised to rise on Wednesday, influenced by positive global indicators. In terms of options, the maximum Call Open Interest (OI) is concentrated at 24,500 and then 24,400 strikes, while the maximum Put OI is positioned at 24,400 and then 24,300 strikes. Call writing is observed at 24,400 and then 24,600 strikes, with Put writing seen at 24,400 and then 24,300 strikes.

Equity markets continue to scale new highs and trade at rich valuations. Small & Midcap stocks continue to trade at expensive valuations, which is a sign of caution.The Nifty 100 Index is trading at 22x 12-month forward earnings, Nifty Midcap 150 is at 32x, Nifty Smallcap 250 Index is at 24x 12-month forward earnings.

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High net-worth individuals are increasingly turning to private credit funds due to the removal of tax benefits for debt mutual funds. This shift reflects a growing interest in fixed-income options among the affluent segment.

Deven Choksey says does not expect any dramatic improvement in IT companies’ numbers, but expects the strength in the commentary to be positive hereafter. From that particular point of view, the IT companies could get re-rated, and 15% to 20% appreciation is possible in many of the IT companies including some of the mid-tier IT companies.

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