Market Bizzz

The post-election rally has taken everyone by surprise and both indices now are currently sustaining well above their short-term moving averages after testing their 200 day moving averages.

​Axis Securities says that the market may continue to find direction based on a “Feel good” factor on policy continuity, pre-budget expectations, progress of monsoon, development on the CAPEX agenda, fiscal consolidation path and expectation of rural recovery in the second half.​

​Our selection criteria focused on stocks with a market capitalization under Rs 1000 crore and a share price below Rs 20. Additionally, we chose stocks with a last traded volume exceeding 50 lakh​

The Dow Jones Industrial Average fell 57.94 points, or 0.15%, to 38,589.16. The S&P 500 lost 2.14 points, or 0.04%, at 5,431.6 and the Nasdaq Composite added 21.32 points, or 0.12%, at 17,688.88.

​The entire space, some of them have gone to 5x, so never write it off. And I think valuations are reasonable in some of the large names like HCL Tech, even a bit of Tech Mahindra with new leadership coming in. But I think the focus has to shift from services to more products, software and platforms.

The hedge fund sold 1.4 million shares at 2684.3 apiece. BNP Paribas Financial Markets was a buyer in the deal. Shares of Shriram Finance gained 1.75% to close at 2,731.3 on Friday and are up 17.8% in the last one month.

3 stocks within Nifty200 pack saw their closing prices surpass their 200-day Daily Moving Averages (DMA) on June 13, as per technical scan data from stockedge.com. The 200-day DMA serves as a crucial indicator for traders, signaling the trend in a stock. it suggests an uptrend.

Tesla shareholders voted to reinstate CEO Elon Musk’s $44.9 billion pay package, previously rejected by a Delaware judge. The package remains tied up in court as Tesla appeals the decision.

Asian stocks fell as investors reacted to U.S. rate outlook post Federal Reserve’s tempered views. Yen was shaky ahead of Bank of Japan meeting.

Hindustan Zinc Ltd., incorporated in the year 1966, is a Large Cap company (having a market cap of Rs 290807.58 Crore) operating in Metals – Non Ferrous sector.