Market Bizzz

In the 47th annual general meeting of RIL, the investors will watch out for timelines, targets, new partnerships and other announcements regarding the conglomerate’s diversified business that sprawls across oil and petrochemicals, telecom, retail, new energy and finance.

​So, commodity as a space, including chemical commodity, we find that probably the better times going forward. From the pipeline, I think the expensive inventory is also out and as a result of which some of these companies are looking relatively better placed on the margin front for FY25.

Abhishek Basumallick of Intelsense Capital discusses the Indian market’s health and sectoral prospects. With a focus on IT, chemicals, pharma, auto, and manufacturing sectors, he anticipates steady growth over the next decade. He advises caution as valuations remain high but sees opportunities in new IPOs and rural consumption trends improving.

This strategy allows us to remain invested and benefit from the long-term growth potential while being cautious and adaptive to the changing market dynamics.

BOJ raised interest rates from 0.1% to 0.25% last month and indicated further hikes to take care of rising inflation. This created a fear of the unwinding of the JPY lead carry trade. The BOJ later allayed concerns indicating a more cautious approach to further rate increases.

5 stocks’ closing prices crossed above their 200-day moving averages (DMAs) on August 27

Hindustan Zinc, under Vedanta, fixed August 28 as the record date for dividends, making today the last day to buy shares to qualify. The company announced a Rs 19 per share dividend. Other companies such as Asahi India Glass, and Bajaj Steel Industries also disclosed their final dividends.

​So, you may still be able to get those kind of growth rates assuming that the market valuations do not contract. But I would imagine that it is possible that you will get a little less than the earnings growth as well to be able to correct for the kind of market growth.

I think this dip 500 to 525 seems to be a good enough price to get in. Company has adequate growth triggers in place and the business model is absolutely robust and stood the test of time. So, we remain convinced on the growth story of this company.

Arnab Das, Global Macro Strategist at Invesco, emphasized that a September Fed rate cut is highly likely. He examined the differing economic implications of the upcoming American election. Das also discussed India’s strong economic performance and noted the global investor sentiment. He detailed the impacts of global market volatility on currencies and tactical trades.