News In ShortsEvening Updates
How to play likely Modi victory? Here's a cue
While the benchmark Nifty 50 Index rallied 3.7 per cent to a fresh peak, the Nifty MidCap 100 Index advanced 4.1 per cent as the strength of the projected victory boosted the broader market. The outperformance may continue if Modi does indeed emerge victorious, analysts say.
Tech View: Nifty50 forms a 'Dark Cloud Cover'
Nifty took a heavy beating as the bulls looked exhausted following Monday’s euphoric rally. The index formed a ‘Dark Cloud Cover’ on the daily chart, but managed to form higher high-higher low pattern for the fifth straight session.
Sebi allows mutual funds in commodity derivatives
Sebi has allowed mutual funds to participate in ETCD. However, the regulator has decided to keep away MFs from trading in derivatives of sensitive commodities.
NSE challenges Sebi orders in co-location case
Country’s leading exchange National Stock Exchange of India (NSE) has challenged Sebi’s orders in co-location case before Securities Appellate Tribunal (SAT), according to a report by ETNOW.
After Market: 223 BSE stocks ready to look up
A day after logging strong gains, equity benchmarks Sensex and Nifty plunged on Tuesday, hit by a fresh spell of selling in bank, IT and auto stocks.
Bulls, bears in a tug of war to make or break 11,883 level
Nifty on Tuesday made an intraday lifetime high of 11,883 in the opening trade, but failed to hold on to the gains and drifted sharply towards the 11,680 level. The index formed a Dark Cloud Cover pattern on the daily scale
Stocks may be high on Modi 2.0 but tread with caution
Services activity expanded in April but was at a seven-month low, as suggested by Nikkei India Services Purchasing Managers' Index (PMI). Auto sales, a gauge of consumer sentiment, fell 16 per cent last month, which was the worst in eight years.
After the rally, let’s do a reality check on economy
Growth has been propped up recently almost solely by government expenditure. Healthy cement and steel volumes based on a seemingly healthy investment cycle have been back on the government’s focus on affordable housing, roads and urban infrastructure.
RIL becomes India’s biggest firm in revenue terms
Reliance in the 2018-19 fiscal year that ended March 31, reported a turnover of Rs 6.23 lakh crore. In comparison, IOC posted a turnover of Rs 6.17 lakh crore for the fiscal, according to regulatory filings by the two companies.
India’s sweet spot was under coalition govt: Andrade
“The period of these three coalition governments was India’s sweet spot,” said the market veteran. “You had lot more policies pushed through and there was enough of checks and balances in the entire system,” he said.
Don’t commit extra funds till May 23: Hemang Jani
We all know the kind of caution which was around because of that and the exit polls have provided some kind of surprise for all the market participants because the market was pricing in 230-240-250 kind of a range.
TechM Q4 profit falls 7% YoY to Rs 1,133 crore
Revenue for the quarter rose 10.40 per cent to Rs 8,892.30 crore compared with Rs 8,054.50 crore in the year-ago quarter. Ebitda jumped to Rs 1,638.70 crore from Rs 1,411.90 crore on a yearly basis.
Nirmal Jain says this market rally has legs
Which is what triggered the monster rally and biggest move in the market in a decade, says Nirmal Jain, Chairman of IIFL Group. “Hopes of a stable government are nudging people to jump into the market right now,” said Jain, a market veteran.
A bullish forecaster sees Re at 67 on Modi return
India’s rupee is likely to outperform Asian peers to reach its highest level in a year as the prospect of Prime Minister Narendra Modi securing a second term lure more foreign inflows, the most bullish forecaster for the currency said.
The economy will be back on its feet soon: AM Naik
Both FMCG or auto sales have come down; two-wheeler sales have come down. All these in my view has happened for the first time in the last five years. But slowly it will come back. I think in a year’s time, the economy will be back on its feet.
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