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Clues by NC Team • 17 Apr 2019, Wednesday

The momentum in banking stocks has helped the Nifty touch a new high, given the 36 per cent weight these stocks have on the NSE’s benchmark index. HDFC Bank, ICICI Bank, SBI, and IndusInd Bank have gained 10-21% since the NSE Nifty hit its recent low in February 2019. Out of the top 10 stocks that pushed the index to a new high, seven are from the banking space and these have contributed 40% of the index’s last 1,000-point gain. 

Read More at The Economic Times
Clues by NC Team • 16 Apr 2019, Tuesday

Benchmark index BSE Sensex closed at 39,276, up 370 points, or 0.95% on Tuesday. It hit a record high of 39,364 during the session. Nifty scaled the 11,800 level for the first time, surpassing its previous high of 11,761. Nifty closed at 11,787. The rally was largely driven by the positive trade data, IMD forecast for a near normal monsoon and sustained FII inflows. The country’s exports rose to a five-month high of 11% in March to $332 billion.

Read More at The Economic Times
Clues by NC Team • 16 Apr 2019, Tuesday

Indian benchmark indices opened higher on Tuesday following positive trade data and IMD monsoon forecast. The Sensex riose over 200 points and Nifty 50 was trading above 11,700. Stock-specific action will be in focus as investors will look out for the March-quarter earnings of individual stocks. Vedanta, Coal India, ICICI Bank, Bharti Infratel, and IOC gained the most on Nifty, while Infosys, Tata Steel, Tata Motors, HUL, and HDFC Bank fell the most on the index.

Read More at CNBC TV18
Clues by NC Team • 16 Apr 2019, Tuesday

According to the market consensus, the Nifty can offer gains of 7.2% in a year, among the highest in global markets. However, the stocks that are expected to offer returns of over 10% have been underperformers over the past six months. These include ONGC, Hindalco, Mahindra & Mahindra, Larsen & Toubro (L&T), and Zee Entertainment. Besides, stocks including Reliance Industries, UltraTech Cements, Kotak Mahindra Bank, and Bajaj Finserv, which have largely driven the current rally, seem to have reached full potential. ONGC has the highest likely upside of 28% in the next 12 months. 

Read More at The Economic Times
Clues by NC Team • 15 Apr 2019, Monday

Benchmark indices started the week on a positive note driven by banks, auto, metals and select technology stocks. Nagaraj Shetti, Senior Technical & Derivative Analyst, HDFC Securities said the underlying short term trend of Nifty continues to be positive. Nifty closed at 11,690.35 on April 15. According to the Pivot charts, the key support level is placed at 11,657.47, followed by 11,624.63. If the index starts moving upward, key resistance levels to watch out are 11,713.87 and 11,737.43. Maximum Call open interest of 26.29 lakh contracts was seen at the 12,000 strike price. This was followed by 11,800 strike price.

Read More at Moneycontrol
Clues by NC Team • 15 Apr 2019, Monday

Sudip Bandyopadhyay, Group Chairman at Inditrade Capital said he expects the Indian markets will attract a lot more liquidity in the coming days. For next 15-20 days, corporate results will continue to drive the markets and post that, the election result, he said. That will be a period of extreme volatility. But overall, Indian markets will attract a lot more liquidity and will move up over the next six to nine months, he said. 

Read More at The Economic Times
Clues by NC Team • 15 Apr 2019, Monday

Manav Chopra Head Research- Equity, Indiabulls Ventures, expects the auto sector to show relative outperformance in the coming few weeks. His top picks include M&M, Escorts and Maruti which can give a return of 10-15%. ITC and HUL can see a short-term rally of 5-8%. The Bank Nifty is likely to rally towards 30,650-30,950 levels and he expects SBI, Axis Bank and Canara Bank to see an upside of 8-10% from the current levels. Any decisive close above the immediate resistance level of 11, 700 that could trigger a rally towards 11,850-12,250, Manav said. 

Read More at The Economic Times
Clues by NC Team • 14 Apr 2019, Sunday

Six of the 10 most valued Indian firms suffered a combined erosion of Rs 42,827.39 crore in market valuation last week. IT major TCS was the biggest loser with a decline of Rs 14,146.5 crore in market cap. While ITC, HUL, Kotak Mahindra Bank and ICICI Bank made gains in their market cap for the week ended Friday, Reliance Industries Ltd (RIL), TCS, HDFC Bank, HDFC, Infosys and SBI finished with losses. 

Read More at The Economic Times
Clues by NC Team • 29 Mar 2019, Friday

Shares of Britannia Industries rose over 1% on Friday as the company replaced Hindustan Petroleum Corporation in the Nifty50 today. Six stocks, Bajaj Holdings & Investment, Divi's Laboratories, HDFC Asset Management Company, HPCL, Page Industries and United Breweries will be included in the Nifty Next50. The NIFTY Next 50 Index represents 50 companies from NIFTY 100 after excluding the NIFTY 50 companies.

Read More at The Economic Times
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