PSE INDEX
Nifty gains continue amid narrowing trading range and low volatility
The markets continued with their unabated upmove in the week that went by and ended once again with net gains. While continuing with the advance the Nifty 50 Index extended its move higher. However, as compared to the previous week, this time, the trading range got narrower as the Index oscillated 408.30 points against 824 points.
8 PSU stock ideas from Anand James to play the next round of upside
VIX has almost halved, from the peaks seen on the election results day, suggesting that volatility expectations have significantly eased. However, VIX is still above the levels seen a month before the results, indicating that caution has not been entirely abandoned. Nifty is now at record peak, post a three consecutive day rise that erased a single day drop of over 8% during last week.
Why investors are favouring FMCG stocks after elections
One key reason behind FMCG becoming a preferred choice in today’s time was this year’s general election. It was the most expensive affair with an estimated campaign cost incurred by political parties reaching a record Rs 1.35 lakh crore. A significant share of this pie moves into the pockets of rural India.
PFC, REC, Adani stocks among top losers, share prices fall up to 20%
Shares of companies like PFC, REC Ltd, and Adani Ports plummeted in today's market turmoil due to poor Lok Sabha election results for the Narendra Modi-led NDA government.
Nifty option premium surges ahead of election results, use Iron Butterfly strategy: Anand James
With a surge in Nifty option premium for 6th June contract, a directional bet is fraught with high risk and therefore traders can deploy Iron Butterfly strategy, says Anand James, Chief Market Strategist, Geojit Financial Services.
What India VIX's jump to 24 level means for the markets
India VIX surged 91% in May 2024 amid anticipation of election results. Understanding its value at 24, it implies a Nifty 50 fluctuation range of 6.93% monthly.
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Stock Radar: Multibagger returns in less than 1 year! This green NBFC player is poised for continued growth
IREDA has rallied by about 190% since its November 2023 listing. After reaching 215 in February, the momentum in the stock fizzled out. It continued to drift lower and found support above 120 levels in March. The stock is trading well above most of the crucial moving averages such as 5,10,30,50 and 100-DMA on the daily charts.
Government gains PSU muscle as stocks climb peaks
The value had touched a high of 22% of total market capitalisation of listed firms in June 2009, dropping to a low of 5.1% in September 2020 before doubling since then, according to data from primeinfobase.com. Re-ratings amid large valuation discounts, high dividend yields, record cash flows and news of possible privatisation triggered a sharp rally in public sector companies over the last three years.
Strategy is to be ready to sell if the critical support breaks at 21,770 : Jai Bala
Jai Bala advises caution in the market due to the potential break of critical support at 21,770, emphasizing the importance of monitoring specific bullish names and being ready to act accordingly.
TCS, Infosys can lead pullback in Nifty IT: Anand James
Anand James advises on Nifty IT index oversold zone pull back due to seasonality. Stocks like TCS, Infosys, Wipro, Tech Mahindra, Mphasis may lead the rebound. Watch for dead cat bounce risk, short covering rallies, and potential breakout signals in PSU stocks. James says: "Should Nifty Bank manage to push above 49100, one could brace for short covering rallies with eyes on 49500 in initially."
Aditya Birla Sun Life Mutual Fund launches Nifty PSE ETF
The scheme will be benchmarked against the Nifty PSE Index. The scheme will be managed by Haresh Mehta. The units of the scheme shall be compulsorily traded in dematerialized form and hence, there shall be no exit load for the units purchased or sold through stock exchanges.
22000-21900 level important for Nifty bulls for two reasons, Anand James explains
Anand James explains Nifty's crucial support levels and potential scenarios for the market ahead. Historical trends and technical analysis play a key role in determining the market outlook for the coming weeks. He says the Nifty Bank index has slipped back inside the descending broadening wedge, forcing them to cut back the breakout objectives that they had laid out last week.
TCS, Infy drive Sensex 400 pts higher ahead of inflation data; Nifty above 22,400
Indian benchmark equity indices traded higher ahead of U.S. CPI inflation data. BSE Sensex and Nifty50 continued to trade higher. TCS, Infosys, Tech Mahindra, and HCL Tech rose, while ITC, SBI, NTPC, Bajaj Finance, and Bajaj Finserv traded with cuts. Aditya Birla Capital shares rose over 6% after announcing a merger with Aditya Birla Finance.
Market may remain in corrective phase till March: Rohit Srivastava
It usually does not unwind in a matter of days. It takes several months of consolidation before you can actually take out the highs of such a point where such an event has actually happened.
PSUs lead mid and smallcap stocks' sell-off on Dalal Street
In the past three months, the Nifty PSE index surged close to 48%, while the Small-cap 250 and Mid-cap 100 indices rose about 21%. Analysts said the rally in public sector stocks has led to a surge in participation by individual traders, who have mounted bullish bets on them with borrowed money.
Sell-on-rise happening; time to be a little more cautious: Rohit Srivastava
Rohit Srivastava discusses the market setup and the sell-on rally trend. He mentions that the market has made a series of higher highs and higher lows, but a break in this pattern would indicate a downward trend. He also talks about the performance of PSU stocks, cautioning against buying at the current highs. He shares his view on the realty sector, suggesting that a pullback to 814 on the Nifty Realty Index could be a good support level. Lastly, he mentions that while value may still exist in the mid and smallcap segment based on positive earnings growth, a technical correction is expected.
Big Movers on D-Street: What should investors do with IOB, Rites, and UPL?
The benchmark Nifty 50 ended 0.4% down at 21771.70 points, and the Sensex closed 0.5% lower at 71731.42 points. On the other hand, the Nifty PSE index closed 2% higher at 9189.20 points.
Nifty public sector enterprise index stocks: A re-rating of different kinds. Will it sustain and create wealth?
The recent re-rating of PSU stocks has happened due to multiple reasons. Right from realization on the street that to paint everything to same brush just because they are owned by government and ignore the fact the growth element is probably not right approach to the fact that there are some business where cost of capital and policy factor are loaded in their favour of PSU and that will not change any time soon.
Keep an eye on dollar index; top 40 stocks which are showing relative strength vs benchmark
The US Fed Rates are at 5-5.25%. Inflation is also around 3.2%, which is comforting and probably the reason why the Fed has paused hikes. Interest rates are back to 2007 levels.
Q2 Review: Profits of 9 PSUs grow faster than sales; which stocks should you bet on?
The companies that saw profits grow faster than sales were REC, Power Finance Corporation, Coal India, NTPC, Bharat Electronics, IRCTC, Container Corporation of India, Gail India, and Oil and Natural Gas Corporation.
ETMarkets Smart Talk: What is pushing the dollar index higher? Arpit Shah explains
"Promising business outlook, near-monopoly status, and the government’s Make-in-India drive first pushed railway stocks, followed by defence, and now mining. Hugh cash on books, dirt cheap valuations etc. were an added advantage for the rally."
ETMarkets Smart Talk: FPIs are comfortable with India story; commodity sector could remain a trading play: Deepak Jasani
"While FPI flow has been net negative in the month of September so far, FPIs generally are comfortable with the India story, though some may have issues with valuations temporarily and may want to take some profits looking at the high equity market levels across the globe. They may come back in case Indian markets correct 10-15%. Even if they don’t correct, some FPIs may come back in after waiting a few weeks out."
PSE aerospace firm & e-marketplace offer around 5% gain each
The Nifty traded in a capped range in the first half of the session but managed to end the day with gains.
Valuation comfort makes PSUs attractive
ONGC, Indian Oil, Power Finance Corporation (PFC), REC, SAIL, General Insurance, Oil India, and New India Assurance are among the PSUs trading below their book value. ONGC, which rallied 10% in the last six months, is trading at a book value of 0.71 times. According to the Bloomberg Consensus estimates, the stock is expected to yield 18% in a year.
Stock Radar: BPCL trading in rising channel in which MFs have raised stake during Q3
The oil & gas stock hit a 52-week high of Rs 399.80 on January 31, 2022, but failed to hold on to the momentum. The stock bounced back after hitting a low of Rs 288 on October 20, 2022.
Sensex @ 60K: After 3,300-point rally in October, will the Fed make November nerve-racking?
It was for the third consecutive time in as many months that Sensex breached the 60,000 mark
CPSE ETF offers 35% returns in a year. Is it time to invest?
The CPSE ETF has offered 35% returns in the last one year, 16% in 6-months and 11.54% returns in three months. Mutual fund analysts say that this performance may continue for some more time.
Dalal Street Week Ahead: Market to stay highly stock-specific
In the previous weekly note, it was categorically mentioned that the markets may resume their up move after a brief period of consolidation. Against the trading range of 390.35 points in the week before this one, Nifty moved 610.05 points this week as it added strength to its move. Among a few technically important things that took place, the one was that of the Nifty keeping its head above the crucial 16000 levels and then inching higher.
Dalal Street Week Ahead: Market set to turn stock-specific; Bank Nifty could play catchup
From a technical perspective, the market has made itself stronger, and dragged its support levels higher. There is a breakout visible on the weekly charts as well. Any corrective move or broad consolidation will now see the 15,900-15,950 range play out as key support.
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