Market Bizzz

At current levels, largecap category remains more attractive on relative valuations, in my view. The broader market indices (both midcap 150 and small cap 250) have seen a positive rally CYTD, and the headline indices are trading at a premium vs their long-term history, but the premium has significantly moderated from the highs of September 2024 levels. In the current environment, a bottom-up stock selection approach across the market cap curve is likely to be rewarded well, with quality blue chips offering a more favourable combination of earnings visibility, governance, and relative valuation comfort.

Ahead of the listing, Xtranet Technologies is commanding a grey market premium (GMP) of around 11%, reflecting positive investor sentiment. Based on the IPO’s upper price band of Rs 127 per share, the stock is expected to list at around Rs 142, translating into an estimated gain of nearly 11% over the issue price.

Indian stock indices Sensex and Nifty experienced a significant surge on Wednesday. Several companies reported strong financial results for the June quarter. Bajaj Housing Finance and MTAR Technologies showed substantial profit growth. Vedanta Oil & Gas and Vedanta Iron and Steel returned to profitability. Adani Enterprises, however, reported a net loss despite revenue increases.

Brent crude futures were down $1.29, or 1.42%, at $89.45 a barrel. U.S. West Texas Intermediate (WTI) crude slipped 56 cents, or 0.66%, to $83.90 a barrel.

Banking is still the best risk-reward pocket in my view—valuations are attractive, credit growth is strong, and NPAs are very low. There’s also some value in healthcare and a few capital goods names where order books are robust, and earnings don’t depend on crude. This correction feels like a genuine accumulation opportunity for quality, and I’m quite optimistic that patience will pay off in the second half of FY27, once the oil situation settles down.

Six Nifty 500 stocks, including Coforge, Kalyan Jewellers and TVS Motor, featured on StockEdge’s White Marubozu scanner on July 28, signalling strong bullish momentum.

The scan generates a bullish signal when the Relative Strength Index (RSI) crosses above 50 from below, indicating strengthening price momentum.

The benchmark Kospi plunged 551 points, or 8.1%, to 6,2505. The steep decline triggered “sidecar” trading curbs on both the Kospi and the junior Kosdaq index, temporarily halting programme trading.

The June-quarter earnings season has now begun, and we will be tracking this closely as results come in, with more insights to follow through the season.