However, analysts do caution against intermittent phases of withdrawals by FIIs given macro-economic developments across major world economies
Retail investors in India are by default optimistic. They are strong believers in the long-term story of India, and rightly so, says Sandeep Bhardwaj of IIFL Securities.
The company expects the positive trend to continue in the coming months, on the back of a decent monsoon, and encouraging farm activity.
Shares of Hindustan Unilever are exhibiting a major breakout, whereas Dabur India and Marico are not exhibiting much of a promise on the charts.
We have raised cash levels across several of our funds, both for funding redemption pressure as well as pouncing on emerging opportunities, Bhaskar said
The company said the growth in the tiles market will continue to be driven by growth in real estate and housing sector, rise in disposable income, growth in renovation & remodelling activities.
As of 10:09 am, the S&P BSE Private Bank and Nifty Private Bank index were down 1 per cent each, as compared to 0.6 per cent decline on the benchmarks, S&P BSE Sensex and Nifty50 index.
Stocks to watch today: Bajaj Finance has raised fixed deposit rates by up to 20 basis points; Zydus Lifesciences will open its share buyback offer on June 23 and close on July 6.
The 100-WMAs hold the key for the Sensex and Nifty; Only a decisive breakdown of the same could mean medium-term bearishness for the benchmark indices.
They could correct another 5% to 15% due to stress in the macro economy, says the brokerage.
The RBI today raised the repo rate to 4.9 per cent, up from 4.4 per cent. The Central Bank also raised consumer price (CPI) or retail inflation forecast for FY23 to 6.7 per cent from 5.7 per cent.
Shares of banks and NBFCs seem to be better placed on the charts, while that of automobile, realty and others need to sustain above the crucial levels.
Over 10 stocks slipped below their 200-DMA on Tuesday after the Nifty50 broke below its sentimentally important level of 16,400, while the Sensex lingered near 55,000-mark
CLOSING BELL: nfosys, ICICI Bank, Kotak Bank, ITC, and Tata Steel were the large-caps that helped the 30-pack index bounce back from lows
Market players said this could be due to punching error where the trader sold 14,500 call options instead of 16,500 call options
Analysts believe that the improvement in global sentiment on the back of consumer resiliency and peaking inflation brought cheer back to the Dalal Street.
CLOSING BELL: Among individual stocks, Titan, Infosys, M&M, L&T, Reliance Industries, HCL Tech, TCS, and Tech M were the lead gainers
Christopher Wood, global head of equity strategy at Jefferies believes that S&P 500 has more room for downside. Investors, he suggests, should look to exit stocks on any intermittent bounce-back.
None of the three investor categories completes quota, with HNI interest being the dullest at 16%
The company has earmarked an aggressive capex of around Rs 2,000 crore over next two years in order to take a chunk of around $20 billion opportunity of APIs going off-patent over FY23-25.