Latest Stock Market News

The Indian market is predicted to open lower on Monday, influenced by global trends. Analysts suggest a trading range between 23,700 to 24,500 for Nifty. Expert recommendations include buying opportunities for stocks like BSE, Paytm, CDSL, Wipro, NALCO, and Bank of Baroda, with specified target prices and stop-loss levels.

The Nifty Auto index was trading 0.71 per cent at 23974.80.

The Relative Strength Index of the stock stood at 48.22 on Monday.

A total of 599,696 shares changed hands on the counter till 10:08AM (IST).

Biocon shares surged 5.4% after FDA classified its Bengaluru facility as Voluntary Action Indicated (VAI). The stock is up 47.7% YoY, supported by strong technical indicators.

US markets have generally done well in the 3 months post elections since 1996. During this period, IT stocks have also given positive returns except in 2000 and in 2008, due to the dot com crisis and GFC respectively.

Indian technology companies are poised for growth with the new US administration, despite potential visa challenges. Improved earnings are expected from Q3 onwards. Construction and infrastructure sectors are also predicted to rise, while FMCG anticipates a comeback driven by urban demand. Caution is advised for metal investments in the short to medium term.

Swiggy is expected to finalize its IPO share allotment today, with its debut on the BSE and NSE scheduled for November 13. The IPO received a respectable three-fold oversubscription, and shares are currently trading at a slight premium in the unlisted market. The company plans to utilize the proceeds for investments in technology, brand building, and its subsidiary, Scootsy.

Indian stock market expert predicts shifts in investments. Sharma sees potential in banking, technology, and pharma sectors. He suggests investors watch for movement in stocks like HDFC Bank, Axis Bank, Infosys, and Mphasis. Sharma also advises keeping an eye on pharma companies like Laurus Lab and ITC as ITC Hotels prepares to list separately.