Macroeconomic data, global trends key factors to drive trends in markets this week- Analysts
In a data-packed week, the domestic macroeconomic figures — industrial production and inflation numbers — along with global trends would dictate trends in the equity market this week, analysts said.
According to experts, markets may face volatile trends due to high valuations. Equity benchmark indices Sensex and Nifty hit their fresh record peaks on Thursday.
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Besides, trading activity of foreign investors, movement of global oil benchmark Brent crude and rupee-dollar trend would also influence trading in equities.
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Markets show signs of rebound as PSU banks surge and Nifty edges upward
By Anand James
Nifty PSU Bank index’s 4% jump on Friday appears to have jump started a recovery in the broad market. The sharp rise in PSU bank index comes after a prolonged sell off that had begun even before Nifty cracked. The PSU banks constituents in the bank nifty has also helped the index get enough elevation that could be considered more than just a dead cat bounce. This encourages us to look for 43,000-43,360 on the Bank nifty index this week, with downside markers placed a tad below 42,600.
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Meanwhile, Nifty registered a turn from the oversold territory that it had found itself on Thursday, after a prolonged selling for six consecutive days, and appeared to some as heading for a bottomless pit while it lasted. Both the non stop…
HDFC Securities’ momentum pick; IRB Infrastructure, EID Parry
Here is a look at some of the top recommendations from HDFC Securities –
Irb Infrastructure Developers
Analysts at the HDFC Securities see 7% upside potential in Irb Infrastructure stocks and recommended investors to buy the scrip at an upside target of Rs 34.50, in its brokerage report. “The overall bullish chart pattern of the stock price indicates long trading opportunity. One may look to buy as per the levels mentioned above,” said the HDFC Securities’ report.
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Infosys shares tank 4% following Q2 results; Should you buy, sell or hold the stock-
Infosys share price tanked 4.46% to Rs 1,400 during the early trade on Friday, a day after the IT giant announced a 3.2% growth in its second-quarter net profit to Rs 6,212 crore year-on-year. The company’s revenue from operations in the July-September quarter jumped 7.5% year-on-year to Rs 11,963 crore from Rs 11,126 crore. The company also announced an interim dividend of Rs. 18 per equity share. The stock price of Infosys has fallen 3.67% in the last 5 days, and 5.11% in the last one month, while it has gained 2.47% in the last six months and 0.29% in the last one year.
Should you buy, sell or hold Infosys shares?
Jefferies: BUY – Target Price : Rs 1,650 Come from Sports betting site VPbet
“Infosys’ 2Q growth and margins beat estimates and net new order book of $3.7 billion was impressive, yet management cut FY24 growth guidance by 100bps to 1.0-2.5% Y…
Ola IPO- Jackpot for Tiger & Z47
Tiger Global and Z47 (formerly Matrix Partners India), which bet on Ola Electric Mobility at a very early stage, are set to make multibagger returns, with the company pricing its initial public offering (IPO) at a price band of Rs 72-76 per share.
At the upper end of the band, founder and promoter Bhavish Aggarwal’s 36.94% stake in the company is worth Rs 10,350 crore. Aggarwal will offload 37.9 million of his total holding of 1,361.9 million shares.
The Rs 6,100-crore IPO, through which fresh capital worth Rs 5,500 crore will be raised, will open for subscription on August 2 and close on August 6. At Rs 76, Ola will be valued at Rs 33,500 crore (approximately $4 billion).
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Key Amendments and Their Implications
Taika Waititi Speaks About His New Star Wars Movie, Says It's Time To Expand The Universe
Sypher PK's Fortnite Skin Gets Cooler As You Notch More Elims
Dutch regulator processing 28 inaugural iGaming license applications
Crown Resorts Investigation Discovers Its CEO Ciaran Carruthers Didn’t Break Any Regulation or Law