Category: Stocks

Markets show volatility; Nifty hovers around 10,000, Sensex gains over 100 points; banks outperform

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Benchmark indices have shown a slight recovery post the global trade war buzz. NSE’s 50 share Nifty continues to hover around the 9,900-10,000 range. However, the markets remain volatile.

Nifty Midcap was off day’s high in intra-day trading but has recovered by 86 points. BSE’s Sensex recovered by gaining over 86 points and has reached above 32,600 levels as against its opening, which was 32,584.

The Nifty Bank index has surprisingly shown an improvement by gaining 4%. YES Bank, State Bank of India, Canara Bank and ICICI Bank have pulled up the index. State Bank of India, in the last two market sessions, had shown a weak performance.

The benchmark indices were pulled up by banks. IT, Pharma and oil marketing companies underperformed.

The global markets still remain to be affected by trade war fears. Asian markets are showing mixed signals. China’s Shanghai index has fallen by nearly 2% and Nikkei is showing recovery signals as the Japanese market has covered up recent losses by at least 0.5%.

Markets opened flat as Asian Markets were recovering from weak global cues and trade war fears. NSE’s Nifty opened below 10,000 levels at 9,994. While, BSE’s Sensex remained weak at 32,000 levels.

In world markets, Dow went down by 400 points, after it witnessed cuts of close to 6% last week.

Financial Major JP Morgan said that markets have been very off-base due to trade war fears. The markets may continue to show a weak performance today.

The U.S. President Donald Trump set motion a tariff hike of close to $60 billion on China on Thursday. The tariff hike came as a measure to ‘penalise’ China after Trump accused China of high-tech thievery, such as stealing the intellectual property of American companies. China, in retaliation, unveiled higher import duties on 128 U.S. goods including steel pipes, wine and fresh fruits.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Buy Voltas; Sell IDBI Bank & PC Jeweller, says Ashwani Gujral

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Here is the latest analysis and commentary by stock market guru Ashwani Gujral of ashwanigujral.com on what is moving the markets today. He also answered viewer stock queries.

Check out his top stock recommendations.

IDBI Bank is a sell with a stop of Rs 70, target of Rs 63.

PC Jeweller is a sell with a stop of Rs 330, target of Rs 314.

Voltas is buy with a stop of Rs 608, target of Rs 630.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sell JSPL, Hindalco; Buy VIP Industries, says Ashwani Gujral

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Ashwani Gujral of ashwanigujral.com discusses with Nigel D’Souza and Mangalam Maloo his analysis on the technical side of the market as well as specific stocks and sectors.

Check out his top stock recommendations.

• Jindal Steel and Power (JSPL) is a sell with a stop of Rs 217 and target of Rs 205.
• Hindalco is a sell with a stop of Rs 207 and target of Rs 194.
• VIP Industries is a buy with a stop of Rs 314 and target of Rs 332.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow