Market Bizzz

WazirX will lift the suspension on INR balance withdrawals starting August 26. Users can withdraw 66% of their balances by September 22. A breach in its multisig wallet resulted in a loss of $230 million, leading WazirX to adopt a Singapore scheme to fairly resume cryptocurrency withdrawals after user approval.

Vodafone and 26 other stocks are exiting the Nifty 500 index while Trent and Bharat Electronics joined the Nifty 50, from which LTI Mindtree and Divi’s Laboratories exited. Effective from September 30, 2024, these changes will come into effected.

FTSE announced changes to its All-World Index on Friday, adding 13 Indian stocks, the highest from any country. The new additions include Bank of Maharashtra, Central Bank of India, Cochin Shipyard, Hitachi Energy India, HUDCO, KEI Industries, and Motilal Oswal Financial Services. Additionally, 14 Indian stocks were added to the FTSE Large Cap Index, including Bharat Dynamics and Dixon Technologies.

In the first half of August, foreign institutional investors withdrew Rs 14,790 crore from financial stocks due to concerns about Fed rate cuts. They invested in healthcare, FMCG, and consumer services instead. Experts suggest these financial stocks now offer good value, with larger banks like ICICI, Axis, and SBI being top picks for stable returns.

DOMS Industries Ltd. key Products/Revenue Segments include Stationery, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2023.

The highest Call open interest (OI) is at the 25,000 strike, with significant interest also at the 25,500 strike. For Put options, the maximum OI is at the 24,500 strike, followed by the 24,600 strike. Minor Call writing is noted at the 24,800 and 24,900 strikes, while Put writing is observed at the 24,700 and 24,600 strikes.

IRFC and other companies set August 22 as the record date for dividends, making today the final day for shareholders to qualify. IRFC declared a final dividend of Rs 0.70 per share and earlier offered an interim dividend for a total of Rs 1.50 per share for FY 2023-24.

So, in any case we are not invested in any of these stocks and in fact we do not advocate also getting into these stocks even after 20% correction because we believe that they are valued much ahead of the time. They are all good companies, they will keep performing but you have already paid them for next four-five years of performance.

Chakri Lokapriya from RSB LLP discussed the promising outlook for Indian IT firms, citing favorable US market conditions. He highlighted TCS, HCL Technologies, and Infosys, and mentioned a shift from traditional sectors to new-age companies like Ola and Paytm. He also touched on the impact of the US Fed’s potential actions on Indian markets.

A bull call spread is an options trading strategy that involves two call options. It is employed when a trader anticipates a moderate increase in the price of the underlying asset. The strategy consists of buying a call option at a lower strike price and selling another call option at a higher strike price, both with the same expiration date.