The increase in the number of registrations of FPIs and growing inflows of investment in the Indian market signifies foreign investors' interests in India, SEBI has said.
Bank Nifty is looking much stronger than Nifty and we can expect it to test 25,000-25,250 levels in the coming sessions.
Ant Group's listing is expected to be larger than oil giant Saudi Aramco's $29 billion IPO in 2019, which holds the current record. The shares are expected to start trading in Hong Kong and Shanghai on November 5.
The September quarter earnings of India Inc so far have been broadly on expected lines. Sectoral heavyweights such as TCS, HDFC Bank and ACC have beaten market expectations.
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On the downside, immediate support is seen at 11,717 where a 20-day SMA is placed. Nifty has never closed below its 20-day SMA in the month of October.
Trends on SGX Nifty indicate a positive opening for the index in India with a 50 points gain.
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The ‘RSI-Smoothened’ for Nifty on the weekly timeframe chart has started moving northwards after entering a bullish territory above the 70 mark, which is likely to provide the impetus.
The total cost of the dividend payout is expected to be Rs 3,500 crore. The record date of the payout is set as October 31.
September quarter earnings, updates on the stimulus package and upcoming presidential elections in the US and reports on COVID-19 cases in Europe will remain on investors' radar.
Over the 1-year period ending in June 2020, the return spread between the first and third quartile breakpoints was as high as 4.67 percent in the Indian equity large-cap funds.
The second-quarter result season and rollover movement will increase volatility in individual sectors and stocks.
On a year-to-date basis, Bitcoin prices are up over 77 percent.
The development comes at a time when capital expenditure has seen a significant fall in view of the COVID-19 pandemic, with companies going slow on their new projects
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Current chart formation suggests Nifty may find major support around 11,650 which is well-supported by a 21-day exponential moving average.
The IPO is a mixture of primary and secondary issue of shares with both China’s Fosun group and the founders of Gland Pharma due to dilute shares. Gland Pharma may look to launch the IPO in November 2020
Failure of the Nifty to head to 12,050 could lead to another drop to 11,750 levels, says Shrikant Chouhan of Kotak Securities
Two Sebi orders say the warring factions of the family indulged in insider trading. Capital markets regulator has also penalised members of the two camps.
IPF is used to refund investors who have lost money after default by brokers. Capital market regulator has already held talks with stakeholders on T+1 settlement two weeks earlier. Almost all IPOs and rights issues have been over-subscribed this financial year, says Tyagi.
Month-on-month economic data has been positive and most companies have seen an uptick in sales. The economy is keeping pace with the stock market and Nifty earnings will see a growth this quarter, says Sunil Singhania, founder, Abakkus Asset Manager
On the technical front, the 11,700-11,600 zone is a strong support area for Nifty and any dip in prices should be used to create fresh longs.
The board of directors of Wipro approved a share buyback plan that would cost the company up to Rs 9,500 crore. The company will buy each share at a price of Rs 400.
Nifty has got strong support at 11,660 and it can be kept as a stop loss in long positions. Upside targets for Nifty are seen at 12,250 and 12,430.