September seasonality revealed that the Nifty PSU Bank index was a laggard, ending the month with declines on seven occasions in the last 10 years. Three scrips in the 12-stock index have given a dismal performance, falling more times than the index itself. These are Bank of India (BoI), State Bank of India (SBI) and … Read more
The NSE Indices Committee recently announced the September 2024 semi-annual reshuffle, affecting major indices such as the Nifty 50, Next 50, Nifty 100, and Nifty Bank. Effective September 30th, these adjustments are expected to significantly impact fund flows within the market. Two sectors, in particular, are poised for significant activity: retail and defense. In the … Read more
Mumbai: Mutual funds plan to request the Securities and Exchange Board of India to relax maturity norms for additional tier-1 bonds to encourage fund houses to invest in these relatively high-yielding debt instruments that banks issue to shore up equity capital. “The Securities and Exchange Board of India (Sebi) has provided some leeway when it … Read more
The NSE Indices Committee has announced the September 2024 rejig, impacting several major indices, including Nifty 50, Next 50, Nifty 100, and Nifty Bank. These changes will lead to significant inflows and outflows for various companies. Here’s a breakdown of the key inclusions and exclusions: Nifty 50 Inclusions: Trent and Bharat Electronics are expected to … Read more
PSU stock Canara Bank has entered the Nifty Bank index at the cost of Bandhan Bank as part of the semi-annual rejig. Canara Bank’s average free-float market capitalisation stood at Rs 38,973 crore over six months as against Bandhan Bank’s Rs 15,945 crore. With its inclusion, Canara Bank is expected to receive flows of $ … Read more
Vodafone Idea has made an exit from Nifty 500 index and Nifty Midcap 100 as part of a semi-annual rejig of NSE’s various indices. Vodafone’s current free-float market capitalisation stands at Rs 36,534 crore and the stock today ended at Rs 15.83, down by Rs 0.37 or 2.28% over the Thursday closing price. Vodafone’s exit … Read more
“The percentage of CNX 500 stocks trading above the 50-day moving average has improved from 48% to 65%. This suggests the rally should continue, also supported by strong global cues. Even the S&P 500 has seen a breakout after the last four weeks of consolidation,” says Dharmesh Shah, Head-Technical, ICICI Direct.Well, the market is fairly … Read more
Several state-owned banks, including the country’s largest lender, State Bank of India (SBI), are likely to tap debt markets and raise close to ₹20,000 crore by the end of the month, as lenders step up fundraising activities amid faster credit growth than deposit growth. SBI is likely to raise ₹5,000 crore-10,000 crore through the issuance … Read more
Nifty saw a sharp bounceback last week after holding its 40-day average of 24,150. Technical analysts expect the positive momentum to continue, with the index likely to cross the 25,000-mark soon. Stocks such as Vedanta, Hindustan Copper, JSW Steel, HUL, ITC, Canara Bank, ICICI Bank, M&M and Bajaj Auto have formed bullish setups on charts, … Read more
Ace investor late Rakesh Jhunjhunwala, often referred to as the Big Bull of Indian stock markets, passed away 2 years ago on this day and as investors remember him today on his second death anniversary, his investment philosophy will continue to inspire them. Jhunjhunwala died at the age of 62 in 2022 because of kidney … Read more
