Angel One’s Sneha Seth analyzes Nifty and Nifty Bank. Nifty finds support around 24,200-24,300, facing resistance near 24,500-24,700. Profit-taking occurs in the banking index, with support at 54,400-54,500. MGL shows buying interest, potentially surpassing 1400-1405 resistance. SBI Card’s chart structure suggests upward movement, supported by its 20 DMA. Seth recommends going long on MGL and buying SBI Card.
Ircon International shares in focus after Rs 187-crore contract for rural industrial park in Kerala
Ircon International has secured a Rs 187.08 crore work order from KSITIL for constructing a rural industrial park in Thiruvananthapuram, slated for completion in 30 months. This follows a Rs 458.14 crore contract from NEEPCO for civil works on the Tato-I Hydro Electric Project in Arunachal Pradesh, to be executed over 45 months.
Long-term, India will continue to shine for both domestic & global investors: Sushant Bhansali
Despite a slight economic downgrade, India’s 6% growth rate positions it for continued market expansion, attracting both local and international investors. A valuation correction provided a favorable entry point, leading to a significant return of global investors. While export-oriented sectors face uncertainty, domestic consumption and rural-focused sectors like FMCG and BFSI are promising.
Negative Breakout on May 02: 8 stocks that dropped below their 200 DMAs
Should you buy Titan? Technicals + jewelry sales point to upside
FPI selling has abated but sustained buying won’t start till good earnings recovery starts: Jitendra Gohil
Credit Suisse’s Jitendra Gohil notes improved macro stability in India is aiding FPI sentiment, though sustained buying hinges on earnings recovery. While US tariff policy shifts impact market sentiment, large-cap IT stocks and correcting NBFCs/private banks present attractive opportunities. Gohil favors private banks and financial intermediaries over insurance due to competition concerns.
Berkshire endorses Japanese trading houses, could hold them ‘forever’
Buffett spoke at Berkshire’s annual shareholder meeting in Omaha, Nebraska, 1-1/2 months after Berkshire said it raised its stakes in Itochu, Marubeni, Mitsubishi , Mitsui and Sumitomo to as high as 9.8%.
Buffett says US shouldn’t use “trade as a weapon” as Trump has done with tariffs
While Buffett said it is best for trade to be balanced between countries, he doesn’t think Trump is going about it the right way with his widespread tariffs.
Buffett takes the stage at Berkshire Hathaway meeting
Ahead of the meeting, Berkshire reported its first-quarter results that indicated Buffett is still cautious. The company was a net seller of stocks for a 10th straight quarter, as it bought $3.18 billion and sold $4.68 billion.
Wall Street buoyed by strong economic data, possible US-China trade talks
The U.S. economy added 177,000 jobs in April, exceeding expectations, while the unemployment rate held steady at 4.2%. The data helped to assuage concerns of a economic slowdown following a Commerce Department report, showing a contraction in U.S. gross domestic product for the first time in three years, weighed down by a tariff-induced flood of imports.