Energy and financial service shave performed very well against the IT and FMCG pack which have taken the backseat.
Ahead of its results an Iron Condor trade in ONGC to benefit from volatility crush
Dhampur Sugar attempts to break out of its consolidation and resumes it upward journey
JP Morgan maintained overweight call on Tata Steel post Q3 results but reduced its target to Rs 880 from Rs 980 earlier
Most technical experts feel that it is better to avoid catching the falling knife at current levels, as the stock is in continuation of a downtrend and technically there is no evidence of near-term bottom formation.
Nomura maintained its buy rating on RIL post Q3 results with a target price of Rs 1480 while CLSA maintained its buy rating on HDFC Bank Ltd post Q3 results and also raised its 12-month target price to Rs 2730.
The premium valuation factors in limited volatility in earnings, innovation profile and strong execution capabilities
The top gainers from NSE included Wipro, YES Bank, Infosys, Tech Mahindra and Reliance Industries while the top losers included Bharti Airtel, Power Grid, Maruti Suzuki, Axis Bank and ICICI Bank.
The breadth of the market favoured the advances with 1122 stocks advancing and 428 declining while 503 remained unchanged. On the BSE, 1169 stocks advanced, 501 declined and 83 remained unchanged.
HDFC Bank | NBCC | Suzlon Energy | Excel Industries | Dolphin Offshore | IL&FS Engineering are the stocks which are in news today.
Further rise in VIX is likely cap the gains in markets and trade in a range. VIX needs to move lower for market to move higher, says Ashish Chaturmohta of Sanctum Wealth Management.
While markets have significantly corrected, investors need to exercise patience and focus on asset allocation and on stocks of companies that generate free cash flow, says B Gopkumar of Reliance Securities.
Reading the right content may help the investor sharpen their skills to watch out for news and developments that affect a company's share.
Marketmen said apart from a firm trend overseas as weaker dollar raised demand for the precious metal, sustained buying by local jewellers at domestic spot market kept gold prices higher.
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Rajat Bose of rajatkbose.com recommends buying Havells India with stop loss below Rs 534 for targets of Rs 546 and Rs 553 and a buy also on Varun Beverages with stop loss below Rs 712.90 and targets are Rs 738 and Rs 750.
The market breadth was in favour of the declines with 437 stocks advancing while 1138 declined and 454 remained unchanged. On the other hand, in the BSE, 580 stocks advanced and 1258 declined and 82 remained unchanged.
The market breadth was in favour of the declines with 791 stocks advancing while 832 declined and 409 remained unchanged. On the other hand, in the BSE, 981 stocks advanced and 955 declined and 82 remained unchanged.
Though the company remained free from long-term debt, noticeable increase in short-term debt was reported, which led to higher interest cost.
Given the improving performance, healthier balance sheet quality and a positive guidance from the management, we expect traction in earnings to continue which could lead to a further re-rating of the stock.
NSE asked ICICI Bank if the matter had been placed before the audit committee and the whistle blower committee.
With completion of the restructuring, the company is now positioned to focus on expansion of core segments amid rapid growth