Domestic equities ended their two-day losing streak on Wednesday, driven by strong US markets on prospects of a Fed rate cut. Highlighted stocks were Tata Steel, NMDC, and Coal India—all experienced drops. Analyst Riyank Arora provided recommendations for these stocks’ trading strategies when the market reopens.
Harsha Upadhyaya on where to put money to work incrementally this year
Harsha Upadhyaya, CIO-Equity at Kotak AMC, observed that mid and small-cap stocks have outperformed large-caps since the COVID lows. However, he noted a potential decline in this trend, anticipating similar earnings growth for mid, small, and large-caps by FY26. Pharma remains a sector with selective investment opportunities, while thematic mutual funds may see fluctuating inflows.
3 sectors that may give you freedom from worries this Independence Day
In a market insight, Siddhartha Khemka highlighted robust domestic liquidity and strong interest in quality IPOs. He noted pharma, FMCG, and automotive as promising sectors. Khemka also pointed out Gravita India and Signature Global for their growth potential. Additionally, he expressed optimism for new-age tech stocks like Zomato and Policybazaar.
Asia stocks firm, dollar sags with US yields on Fed cut bets
Asian stocks held steady as the dollar weakened due to falling U.S. Treasury yields influenced by mild consumer inflation data. Regional markets like Japan’s Nikkei and Australia’s stock benchmark showed gains. U.S. S&P 500 futures indicated a rise following a slow consumer price increase in over three years, boosting Wall Street.
Europe’s STOXX 600 climbs as upbeat earnings buoy travel and leisure, financial stocks
European stocks climbed on Wednesday, driven by gains in travel, leisure, and financial sectors. The STOXX 600 index rose by 0.5%, encouraged by signs of slowing U.S. inflation and potential Federal Reserve rate cuts. Key performers included Flutter, UBS, and Straumann, while Thyssenkrupp and Carlsberg faced declines.
Sit on the sidelines! Volatility is high and both shorts & longs get bought out daily: Ajay Bagga
Ajay Bagga advised investors to stay on the sidelines due to high market volatility, primarily affecting equity and FX markets. Despite strong oversubscription in IPOs driven by liquidity, he cautioned that valuations are elevated. He highlighted opportunities in hospitals and EMS sectors but emphasized the need for regular, cautious investments.
At multi-year highs: These 5 stocks witness 5-year swing high breakouts
A 5-year swing high represents the highest price a stock has achieved within five years
Positive Breakout: 3 stocks cross above their 200 DMAs
The 200-day DMA is used as a key indicator by traders to determine the overall trend of a stock.
Positive Breakout: These 5 stocks close cross above their 200 DMA
As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.
Gold hovers near 1-week peak as investors gear up for US inflation data
Gold prices saw a minor decline but stayed close to a one-week high ahead of crucial U.S. inflation data. Market participants looked forward to the release of the July producer price index and the consumer price index, which are expected to impact the Federal Reserve’s interest rate decisions. The SPDR Gold Trust’s holdings increased.