View on market: Volatility Prevails, Market is searching for better value The latest remarks from a Federal Reserve member, which indicated to additional rate hikes to manage inflation, have dampened Wall Street euphoria as Asian stocks prepare for a mixed morning after US shares recovered from their worst…
August 7, 2023
DECLINE STOPPED; NIFTY AND NIFTY BANK ENDED WITH GAINS
NIFTY: The NIFTY opened at 19462.80 with a gap up of 81 points. Initially, the index moved sideways for the first two hours of trading with support around 19450 and then saw a breakout. Prices recorded its intraday low at 19436.45 and saw an upside rally of about…
View on market: Volatility Prevails, Market is searching for better value After a conflicting US jobs data and a reversal of gains on Wall Street, which saw the S&P 500 shed over 1% of its gain, Asian markets are expected to fall. Futures for benchmarks in Hong Kong,…
Reliance Industries Limited (RIL) is a well-known Indian conglomerate with a broad range of businesses, including media, retail, telecommunications, oil and gas exploration, petrochemicals, and refining. It has strengthened its position in India and is growing its global reach. The company's dedication to customer happiness, innovation, and sustainability…
Concord Biotech IPO Company Profile : Concord Biotech Limited (CBL) is a leading biopharma company based in India and is one of the world's leading developers and manufacturers of fermentation-based APIs for cancer and immunosuppressants worldwide. The business serves more than 200 customers in over 70 countries throughout…
NIFTY: The NIFTY opened at 19463.75 with a gap down of 63 points. Initially, the index moved up, filled the gap, and then started finding resistance around yesterday's closing prices. Prices have formed a consolidation which eventually broke on the downside after prices recorded its intraday high at…
View on market: Volatility Prevails, Market is searching for better value Following a drop in US stocks and Treasuries, Asian stocks are expected to open neutral as attention turns to Friday's jobs report for guidance on the direction of the Federal Reserve's next moves. Benchmark index futures for…
Company Recommendation Buy (Rs) Target (Rs) Upside (%) Time Horizon Ambuja Cements Buy 470 526 12% 1 Month Coromandel International Buy 1032 1244 20% 1 Month ICICI Bank Buy 963 1088 13% 1 Month ITC Buy 455 523 14% 1 Month Larsen & Toubro Buy 2600 3068 18%…
NIFTY: The NIFTY opened at 19655.40 with a gap down of 78 points. The index continued its early morning bearish momentum and started drifting downwards from its opening tick. The index recorded its intraday high at 19678.25 in its initial trades and saw a down move of more…
View on market: Volatility Prevails, Market is searching for better value As investors digested data indicating a robust U.S. labour market that will retain pressure on the Federal Reserve to maintain tight policy, Asian equities futures sank after sharp selling in U.S. markets. Contracts for benchmarks in Hong…