IT REALTY CONSUMPTION BANKS
All that SaaS; AI woes
Happy Friday! Goldman Sachs is likely to increase its stake in SaaS startup MoEngage. This and more in today’s ETtech Morning Dispatch.
Profit-booking blues: Sensex, Nifty end flat despite early gains, but investors reap Rs 1.21 lakh crore
After an initial surge, the BSE Sensex retreated, closing marginally lower by 0.03% at 79,897.34, dragged down by selling pressure on major stocks. The NSE Nifty also experienced a similar trajectory, ending the day with a slight dip of 0.03% at 24,315.95, following a volatile trading session.
Maruti Suzuki drives market euphoria: Sensex, Nifty notch all-time closing highs
Maruti Suzuki and consumer stocks kept D-Street benchmarks on track to continue their post-election rally. The 30-share Sensex advanced 391 points to settle at 80,352. The broader NSE Nifty gained 113 points to top 24,430. A strong macroeconomic growth outlook and steady return of foreign inflows also boosted investor sentiments. The market capitalisation of all listed companies on the BSE increased by Rs 1.58 lakh crore to Rs 451.29 lakh crore.
Pankaj Pandey on 3 stocks to bet on from pharma sector
We have been very selective in terms of chasing stocks because our sense is that you need to see stocks for a considerable period of time before we recommend. IREDA is what we have sort of recommended because our sense is that this one PSU AAA rated can deliver 30% kind of AUM growth while valuations are on a higher side, but we like the opportunity size.
Why has Kotak re-initiated inflows into smallcap fund? Harish Bihani explains
There is FOMO in certain sectors and themes across caps and not only in smallcaps. Harish Bihani thinks there is scope for identifying ideas and deploying large sums of money in the smallcap category. The probability of any event specific to India disrupting the market is low at this point and they thought that it was an opportune time to reopen the fund
Banking euphoria catapults Sensex past 78K milestone, lifts Nifty to record peak of 23,721
The performance across Nifty sectoral indices was mixed, with 6 out of 16 indices showing gains. Notable performers included Nifty Financial Services, Nifty IT, and Nifty PSU Bank. Conversely, sectors such as Nifty Auto, Nifty FMCG, and Nifty Metal faced declines. In the broader markets, the Nifty Midcap 100 dropped by 0.45% to 55,324.45, while the Nifty Smallcap 100 saw an increase of 0.21%, reaching 18,255.10.
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Nifty charts projecting 25,200 by December, says ICICI Securities. Top 94 stock picks
ICICI Securities' technical analysis forecasts Nifty reaching 25,200 by December 2024, supported strongly at 22,200. Midcaps and smallcaps indices are in a structural uptrend, expected to gain over 16% by year-end.
Nifty bull case target at 27,100, says Prabudas Lilladher. Bets on Reliance, ITC
Domestic brokerage firm Prabhudas Lilladher said that it values Nifty at 5% premium to 15-year average PE 20.2x to arrive at bull case target of 27,102 as it showed conviction on large cap firms like ITC, RIL, HDFC Bank among others.
Metal stocks rally on China's realty stimulus, LME gains
Hindustan Zinc surged 20%, followed by Vedanta which gained 7.04%. Jindal Steel and Power and Hindalco moved up over 4%, while Tata Steel, JSW Steel, and Hindustan Copper rose over 3% each.
China lays out 'historic' plans to prop up its realty market
Investors hoped the measures marked the beginning of more decisive government intervention to compensate for waning demand for new and old apartments, to slow down falling prices and to reduce a growing stock of unsold homes. Since the property market began its steep downturn in 2021, a string of developers have defaulted, leaving scores of idle construction sites behind, and sapping confidence in what had been the preferred savings instrument for the Chinese population.
Dalal Street Week Ahead: Market momentum likely to fade, time to protect profits
The markets may see a soft start to the week on Monday. The levels of 22650 and 22775 are likely to act as potential resistance points. The supports come in at 22400 and22280 levels.
DLF to invest Rs 2,200 cr to build shopping mall in Gurugram
At present, DLF has a retail footprint of around 42 lakh square feet comprising nine properties, including malls and shopping centres, mainly across Delhi-NCR. Around 3.4 lakh square feet of retail portfolio is under DLF Ltd and the rest under the DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC.
3 midcap stocks to add to the portfolio now; 3 realty stocks to bet on: Sanjiv Bhasin
Sanjiv Bhasin highlights HDFC Bank as a contrarian bet while top midcap picks are UPL, Persistent Systems and Dhanlaxmi Bank. Bhasin advocates buying real estate stocks like DLF and Godrej on dips and Indiabulls Real Estate. He further mentions gold rally, tech stocks, and pharma bets like Sun Pharma, Dr Reddy's, Lupin.
Sensex, Nifty extend gains to 4th day, scale fresh record highs powered by energy stocks
From the Sensex pack, NTPC, Power Grid Corporation, Reliance Industries, and Bajaj Finserc were the top gainers, rising 1-4%. Axis Bank, Tech Mahindra, and ICICI Bank also closed in the green, while JSW Steel, M&M, Tata Steel, and UltraTech Cement closed with cuts.
Why Mumbai-based realty stocks are hot property for this brokerage?
The Reserve Bank of India's (RBI) decision to press the pause button on interest rate hikes is expected to benefit the real estate sector and more so the Mumbai-based realtors such as Macrotech Developers, Oberoi Realty, Keystone Realtors, Sunteck Realty and Godrej Properties, Nuvama said in a note.
Motilal Oswal Alternates raises Rs 1,250 cr as first close of sixth realty fund
Motilal Oswal Alternates (MO Alts) has raised over Rs 1,250 crore for its sixth real estate fund, India Realty Excellence Fund VI (IREF VI). The fund aims to invest in mid-income and affordable residential projects across the top eight cities in India. MO Alts has received commitments from high net worth individuals, non-resident Indians, family offices, and corporates.
ETMarkets Fund Manager Talk: This fund manager sees investment opportunities in 6 sectors during a rate-cut cycle
Siddharth Vora says: "Within this broader landscape, while Indian equities do reflect steeper valuations, they continue to be supported by robust domestic macros and fundamentals. Despite indications of elevated valuations based on various fundamental and technical metrics, historical trends suggest that premium valuations and euphoric sentiment in markets can persist for 3-6 months on an average before normalizing."
Realty, railway & PSU stocks took a beating. What to buy now?
The recent sharp decline in stocks like IDFC, IndusInd, and HDFC may be a result of market corrections after continuous highs. This correction is expected, especially for sectors that have seen significant growth. However, the pharma sector has been outperforming after years of underperformance. It is difficult to predict the timing and extent of these corrections, but they are necessary for a balance between valuation and fundamentals.
Motilal Oswal tweaks model portfolio ahead of Q3FY24 earnings. Here’s what changed
Motilal remains a “firm believer” in the medium-term India story and expects these trends to strengthen with multiple themes at play viz. financialisation of savings, private capex revival, rising discretionary consumption, strengthening of real estate cycle, and the massive creation of digital and physical infrastructure.
From fractional ownership to sustainability, real estate sector finds new mantras
India's urban population is increasing yearly, with a large portion being young professionals. This demographic is increasingly seeking affordable and flexible living options in major cities.
Take some money off auto; invest in IT, realty, consumption & selective banks: Sanjiv Bhasin
“Bank Nifty, which had lost momentum, is now in leadership. Obviously buy the frontliners which for the largecaps are HDFC, ICICI and Axis. But I would single out Kotak to be the biggest outperformer here. As for small caps, I am very optimistic on Bandhan Bank from that Rs 250 level. It has hit Rs 235, 240. But do a SIP in Bandhan.”
Nifty likely to trade in 19,550-20,000 zone: Analysts
Analysts recommend stocks like Reliance, HCLTech, Maruti, Larsen & Toubro, Bharti Airtel, Bajaj Finserv, Tata Motors, Bank of Baroda, Ramco Cements, PVR, and Idea Forge for trading.
Keeping some powder dry now and waiting for earnings season to start: Dipan Mehta
Dipan Mehta believes that the stock with the most potential in the digital arena is Zomato, as it is on track to profitability. Mehta also mentions that the US yield movement is impacting markets in Asia. He expects a quiet period in the domestic market until October, when corporate earnings will have a more significant impact on stock prices. Mehta also discusses the upcoming credit policy, stating that it is likely to be a non-event.
Motilal Oswal Alternates to raise Rs 2,000 crore through sixth realty fund
Motilal Oswal Alternates (MO Alts), the alternative investments arm of Motilal Oswal Financial Services is set to raise up to Rs 2,000 crore through its sixth real estate fund India Realty Excellence Fund VI (IREF VI) to invest across the top 8 cities of India. The new fund will focus on early-stage investments in mid-income and affordable residential projects in Mumbai, Delhi-NCR, Pune, Bangalore, Chennai, Hyderabad, Kolkata and Ahmedabad. Additionally, selective investments in commercial projects will also be pursued.
Repo rate pause likely to support housing market’s steady growth in festive season
While interest rate-sensitive segments of affordable and low-income housing have started witnessing some impact of the rate hikes implemented earlier, any further increase may have resulted in hitting the demand in this segment.
We remain reasonably overweight on housing finance space within real estate sector: Deven Choksey
I guess the IT is showing the distinct signs of growth. So, there also we remain reasonably more confident. And the banking credit is also reasonably good as far as the corporate side is concerned, housing financer is concerned and the retail side is concerned.
Some money may now flow into gold, realty and high-value white goods
Elections to 5 states are scheduled for the end of 2023. There could be some adverse impact on small businesses, which hold high-denomination notes for managing daily transactions, according to Nomura's India Economist, Aurodeep Nandi.
Q3 results impact: Tata Motors, Zomato among over 35 stock upgrades and downgrades
A team of analysts from global brokerage firm Jefferies has raised the FY23 earnings estimates for 47% of 147 companies under its coverage network. Downgrades were made to 46% of companies, resulting in higher upgrades than downgrades for the first time in five quarters.
Sensex, Nifty under pressure after RBI rate hike, withdrawal of accommodation
Barring FMCG, all sectors were trading in the negative. Among rate-sensitive sectors, Nifty Bank lost 0.37%, while Nifty Auto was down 0.75%. Nifty Realty was the top loser, as it lost 1.5%.
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