Category: Stocks

Benchmark indices remain in safe ranges, metals continue to rally

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

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The benchmark indices maintained their safe ranges —  the Sensex is trading above 33,000 points and the Nifty remains in 10,100 levels — in the first half of trading hours. The sectoral indices were off their day’s high, however, the two major ones – Nifty Midcap and the Nifty Bank – managed to gain above 0.25%.

Metal stocks continued to rally as the news of US and China considering negotiations came out.

The markets on Tuesday opened largely in green, with the help of strong global cues. The NSE’s Nifty opened at 10,187 points, reclaiming 10,000 levels while the BSE’s Sensex opened in safe range of 33,000 at 33,245 points. The financials took the lead as the government announced a lower-than-expected borrowing programme for April-September.

Foreign investors were seen in a buying mood, giving the US market its best day in more than two years and erasing about half of its huge losses last week.

Technology companies accounted for much of the broad rally, which powered the Dow Jones industrial average to a gain of nearly 670 points. Microsoft was the biggest gainer in the 30-company Dow and the Standard & Poor’s 500 index, climbing nearly 8 percent.

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 Bajaj Finance, Balkrishna Ind, Exide, Motherson Sumi; Sell Wipro, says Mitessh Thakkar

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

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Here is the latest analysis and commentary by stock market guru Mitessh Thakkar of mitesshthakkar.com on what is moving the markets today.

Check out his top stock recommendations.

• Bajaj Finance, the indicator setup has turned quite positive. It is a buy with a stop of Rs 1,700 and a target of around Rs 1,840.
• Balkrishna Industries is a buy with a stop of Rs 1,082 and targets of Rs 1,180.
• There was a swing breakout in Exide above Rs 218. Hence, it is a buy with a stop of Rs 217 and a target of Rs 233.

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

Opening Bell: Markets open in green; Nifty at 10,187 pts, Sensex at 33,245 pts

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

Listen to the Article (6 Minutes)

The markets on Tuesday opened largely in green, with the help of strong global cues. NSE’s Nifty on opened at 10,187 points, reclaiming 10,000 levels while BSE’s Sensex opened in safe range of 33,000 at 33,245 points. The financials took the lead as the government announced a lower-than-expected borrowing programme for April-Sept.

The metals, too, are seeing a relief rally due to positive global cues. The global metal markets adopted a buying strategy which helped in bringing in the relief.

As the news of US and China open to negotiation came out, foreign investors were seen in buying mood, giving the US market its best day in more than two years and erasing about half of its huge losses last week.

Technology companies accounted for much of the broad rally, which powered the Dow Jones industrial average to a gain of nearly 670 points. Microsoft was the biggest gainer in the 30-company Dow and the Standard & Poor’s 500 index, climbing nearly 8 percent.

On Monday, the market reversed the losses of the last two sessions and extended gains. NSE’s Nifty reclaimed 10,000 levels and closed at 10,130 points in Monday’s session.

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

Closing Bell: Markets bring cheer, show positive trend for 2 days in a row; banks pull up indices

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

Listen to the Article (6 Minutes)

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

Nifty can rally towards 10,300 if trade war fears ease, says Ashwani Gujral

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

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Nifty can rally towards the 10,250-10,300 range if the global trade war fears ease, says market expert Ashwani Gujral.

Ashwani Gujral, chief of ashwanigujral.com, said, “The market really thought trade wars were coming, whereas Donald Trump was just negotiating. If that is the case then the global problem is out of the picture and that could make the Nifty rally towards 10250-10300 and Bank Nifty can get back possibly towards 24800-24850 thereabouts. So, the global pullback can happen.”

The markets reversed the losses of the last two sessions and extended gains on Monday, as the slew of banks helped in pulling up the markets. NSE’s Nifty reclaimed 10,000 levels and closed at 10,130 points. Four out of five contributors to the Nifty are from financials with HDFC Twins as the top index gainers.

Gujral added, “Indian markets will bottom out once some sort of a higher low is made or at least 10,000 on the Nifty starts to get respected on the downside, otherwise this is just a pullback rally.”

Markets had opened flat on Monday as Asian Markets were recovering from weak global cues and trade war fears. NSE’s Nifty opened below 10,000 levels at 9,994.

US President Donald Trump set in 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.

“Next few days should be good for the global markets and you could see metals and banks recovering from lows given the amount of shorts they have,” he added.

The Nifty Bank index gained by over 4% in intra-day trading with SBI, Canara Bank, ICICI Bank and Bank of Baroda taking the lead in Monday’s session. Only IDFC bank underperformed, with the rest closing in the green. The index gained by 574 points – the biggest one-day gain in five months.

BSE’s Sensex gained over 400 points and reclaimed 33,000 levels on Monday’s close. The Nifty Midcap, though off its highs for a brief period in the previous session, recovered by 1.29%.

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