The rupee is tipped to open around 79.75 per U.S. dollar in initial trades compared with 79.6725 in the previous session.
Europe ended higher following a choppy session, amid continuing market caution over the inflationary outlook. Stoxx 600 was up 0.3% by the end of the day, having reversed earlier losses. Stocks in the spotlight today – Max Healthcare, Wipro and Metropolis Healthcare. We also explore the confluence of likely strong festive demand and falling commodity prices in the coming quarters. Could consumer-facing businesses have a good run?
Multi-level confirmation in prices and positive futures data indicate a high probability of buy trade in Dalmia Bharat
Dabur has broken out of a short term resistance zone
Bajaj Electricals shares rallied 6 percent to close at seven-month high of Rs 1,226.15 and has broken a long downward sloping resistance trend line (adjoining September 17, 2021 and August 8, 2022) with long bullish candlestick pattern formation along with strong volumes on the daily charts. Also it has given a Flag and Pole breakout on the daily charts, which is generally a positive indication.
GAIL India is expected to remain sideways within our range. An Iron Condor trade to capitalise on a sideways trend
Possible break out of a flag pattern in Sun Pharma
Stock Market News: Trends in SGX Nifty indicate a negative opening for the broader index in India with a loss of 34 points.
On the weekly chart of United Breweries, we can observe that prices have shown a bounce on the upside since June 2022 while taking support from the bullish trend line which the prices are respecting since October 2020.
Stock Market LIVE Updates: Except capital goods, IT and Power all other sectoral indices are trading in the red.
Stocks to Watch: Check out the companies making headlines before the opening bell.
Spot gold was down 0.2% at $1,754.44 per ounce, as of 0156 GMT, after falling to its lowest since July 29 at $1,752.77 earlier in the session. For the week so far, the metal is down 2.6%.
Added concerns about the health of China's economy saw MSCI's broadest index of Asia-Pacific shares outside Japan ease 0.3%, to be down 1.1% on the week.
Brent crude futures climbed 7 cents, or 0.1%, to $96.66 a barrel by 0030 GMT after settling 3.1% higher on Thursday. U.S. West Texas Intermediate crude was at $90.65 a barrel, up 15 cents, or 0.2%, following a 2.7% increase in the previous session.
Investors were still assessing Wednesday's minutes from the Federal Reserve's July meeting, which they initially saw as supporting a less aggressive stance by the central bank.
Based on the open interest future percentage, there were 58 stocks including Intellect Design Arena, Vedanta, Nippon Life India, HDFC Life Insurance Company, and Escorts, in which long unwinding was seen.
Among sectors, Nifty Realty was up the most as it rose 1.55 percent today. Metal stocks did well and pushed the Nifty Metal index higher by 0.92 percent while the FMCG index gained 0.57 percent. However, Nifty IT was impacted by the fall in US stocks yesterday and was the biggest loser among the sectors, skidding by 0.8 percent. Auto and Pharma were the other top losers with declines of 0.47 and 0.34 percent, respectively.
The Nifty50 can be able to cross its previous swing high of 18,114 (April 2022) only if it sustains above 17,833 (Wednesday's low) in coming sessions and then the next resistance would be 18,350 and 18,604 levels, experts said.
Investors should focus more on stock selection after the recent surge and focus more on the sectors/stocks which are trading in sync with the benchmark instead of focusing on laggards.
In today’s edition of Moneycontrol Pro Panorama: Misuse of police, bright spots on recovery radar, the metal blues, green code for startups, politics behind freebie politics and more
Commenting on the deal street trajectory for 2022, Grant Thornton's Prashant Mehra, speculated that things may pick up towards the end of the year in December.
While we may have a grand strategy to minimise China’s invisible war against India, there is a disconnect in public policy efforts on the one hand and public apathy on the other hand
DMart has unveiled brave expansion plans as it finally looks to unleash itself on Indian retail and CJ believes the market will love it but Santo feels valuations are too rich for comfort. Watch the duo debate what DMart's new plan means for the stock and share their thoughts on SBI Cards, IEX and IndiGo.
The weekly expiry could keep the markets volatile as we have witnessed steady rise in open interest in 18,000 CE strike in the past few days while on the downside 17,800 PE strike has the highest open interest of more than 2,20,000 contracts which could act as immediate support from current levels.
India has been clocking 7 percent plus rates in the past and there is no reason why our country cannot continue to deliver such a growth rate over a longer period.