Market Bizzz

​The markets have been buoyant for all these reasons and we are also likely going to see a lot of corporate profitability surging ahead because there has been a general demand recovery post the lull we have seen the last three-four years particularly on the consumer side, both durables as well as fast moving goods.

Foreign banks have become the largest investors in India’s sovereign bond market, purchasing over $6 billion of debt since June. The optimistic outlook on India’s economy, reinforced by election results and potential rate cuts, has led to increased inflows from global banks like Deutsche Bank and HSBC.

The entry of Taiwanese chip giant TSMC into the elite club of the world’s most valuable companies is further proof that the generative AI revolution is shaking up Wall Street. The top ten of the world’s most valuable companies is headed by Microsoft and Apple, closely followed by AI chip designer Nvidia.

Sensex and Nifty ended flat. Tata Motors rose 0.93%, gaining 182%, supported by averages and EPS, and in accumulation phase. Avoid Adani Wilmar despite its 1.92% rise. PC Jewellers jumped 10%, rebounding off the 50-day average and hitting strong RSI levels. Target for Tata Motors is 1170. Recommendations for these stocks vary.

Saurabh Mukherjea says the last four years, the post-COVID era, has been about democratisation of profit pools. But it is not democratisation for everybody. It is democratisation for roughly 6,000 companies that are below the top layer, the second decile. In the next five-six years, the challengers will come after the ruling dominant franchises in the country with disruptive, lean, efficient models.

NSE Nifty hit a record for the third session, Sensex fell below 80,000. Stocks: Raymond (+10%), RBL Bank (-1.28%), AstraZeneca India (-3.77%). Pravesh Gour of Swastika Investmart noted Raymond’s bullish flag formation with MACD and RSI support. Demand zones and support levels for RBL Bank and AstraZeneca India were also provided.

In the marine as well as the aviation defence space, several varied companies are getting into BSF categories. So, these are the opportunities that look to be quite huge. Binod Modi, Sharekhan BNP Paribas, says that he believes companies like HAL as well as BEL should continue to do well,

JM Financial will increase its stake in JM Financial Credit Services to 89.67% and JMFCSL will acquire 71.79% stake in JM Financial Asset Reconstruction Company from JMFL for Rs 856 crore.

The Indian equity market witnessed a positive week as both the Nifty 50 and Bank Nifty indices ended in the green. The Nifty 50 gained 1.3% to close at 24,323, while the Bank Nifty rallied 0.61% to settle at 52,660.

Rajesh Palviya of Axis Securities provides insights into the current trends and expectations for Bank Nifty, highlighting key support and resistance levels. He discusses the impact of recent performances by private and PSU banks and shares his views on sustaining the market’s bull run driven by bullish sentiment and liquidity flows.