ET Intelligence Group: The stock of Sonata Software, a mid-tier IT company, has lost 18% in August so far after the company’s subdued June quarter performance due to delay in large deals. While it is likely to face challenges in the current quarter as well, Sonata expects to post better numbers in the second half … Read more
After ending Friday’s session nearly 7% higher, shares of Tata Consultancy Services (TCS) could rally towards a new 52-week high of Rs 4,400. “On the weekly chart, the stock had found support at the rising trend before the recent rally. On the daily chart, the stock has given a consolidation breakout. Suggesting a rise in … Read more
The pre-Budget rally that has seen Sensex and Nifty touch unclaimed peaks this week may not sustain in the run-up to the D-Day, according to historical market trends ahead of the Budget. “If history were to repeat, we should see a dip prior to the Budget announcement. So history advises traders not to chase prices … Read more
Mumbai: India’s key stock indices closed at new highs on the last trading day of the week, setting fresh intraday records led by gains in IT stocks due to strong earnings and better-than-expected US consumer inflation data. Despite expensive valuations in some pockets of the market, analysts see no signs of a rally reversal. The … Read more
“FMCG and IT stocks are often considered defensive investments, providing a cushion against market volatility,” says Vipul Bhowar, Director – Listed Investments, Waterfield Advisors. In an interview with ETMarkets, Bhowar said: “Both sectors today offer valuation comfort compared to their historical valuations, but growth seems to be a few quarters away,” Edited excerpts:Will fiscal prudence … Read more
Synopsis In the last few days, there have been trading sessions where all of sudden IT stocks have started to do well. This is coming at a time when there is nothing positive which either companies from the sector have said or there is anything else which can be seen as signs of things changing … Read more
Foreign institutional investors (FIIs) continued their selling spree on Thursday, offloading Indian equities worth Rs 6,867.72 crore even as domestic buyers remained net buyers at Rs 3,718.38 crore. Notwithstanding the sell-off by foreign investors, Indian headline indices on Thursday ended in the green for the second day in a row aided by strong gains in … Read more
Mumbai: Investors looking to accumulate blue-chip stocks could consider Tata Consultancy Services (TCS), India’s largest software exporter, at current levels as technical indicators are pointing to a limited downside from here. Analysts said interest rate cuts by the US Federal Reserve will be the next big trigger for information technology (IT) stocks, including TCS. According … Read more
Mumbai: India’s benchmark indices ended nearly 1% higher on Thursday, in a late surge, driven by short covering ahead of the expiry of Nifty’s weekly futures and options contracts. NSE’s Nifty rose 203.3 points or 0.92% to close at 22,403.85. BSE’s Sensex rose 676.69 points or 0.93% to end at 73,663.72. Both indices fell as … Read more
The Nifty50 pared gains after hitting fresh record highs on Tuesday in intraday trade. The S&P BSE Sensex fell nearly 200 points while the Nifty50 closed in the red after hitting a record high of 22,783. Sectorally, buying was seen in power, realty, and auto while energy, oil & gas, healthcare, and IT stocks saw … Read more
