Fund managers made fresh purchases in companies that could benefi t from the strength in global economies, including the US. They increased exposure to metals, commodities and oil & gas. Fund managers believe the Fed is likely to cut rates later this year, which will lead the US dollar to depreciate resulting in rise in … Read more
Metal stocks have been on a roll lately. The Nifty Metal index has been up significantly, with gains of over 50%, in the last one year. ETMarkets spoke to Sonam Srivastava, Founder & CEO of Wright Research, to understand the factors behind the rally and more. Edited excerpts: 1. The Nifty Metal index has been … Read more
India’s largest domestic institutional investor Life Insurance Corporation of India (LIC) has reduced ownership in at least 80 stocks, including 16 PSUs, in the March quarter with the market value of its portfolio surging to Rs 14 lakh crore. LIC was seen cutting stakes in BHEL, SAIL, Coal India, Oil India, Mahanagar Gas, MOIL, SBI, … Read more
Indian market is likely to consolidate on Thursday tracking mixed global cues. The Nifty future closed positive with gains of 0.22% at 22420 levels on Wednesday. India VIX was up by 0.78% from 10.20 to 10.28 levels. On the options front, the maximum Call OI is placed at 22500 and then towards 22700 strikes while … Read more
Metal stocks jumped 11% on Tuesday, led by Hindustan Copper and Hindustan Zinc, amid a slew of triggers like strong Q4 updates and improving manufacturing outlook in the world’s two largest economies – China and USA. The other major gainers were Vedanta and Steel Authority of India (SAIL) which rose over 4.5% in intraday trade. … Read more
Mumbai: Notwithstanding the sharp swings in the stock market in recent weeks, individual investors are not shying away from borrowing and betting on shares, especially mid-caps – some of the worst hit in the recent sell-off. The total quantum of margin funding – a short-term loan to investors for buying shares they cannot afford otherwise … Read more
Shares of NMDC fell over 4% on Thursday to the day’s low of Rs 197.15 on the NSE after Kotak Institutional Equities warned investors of sharp price cuts and earnings downgrade going ahead. The domestic brokerage trimmed its fair value to Rs 195 from an earlier Rs 205 while retaining a ‘Sell’ view. The valuations … Read more
The Indian market is likely to consolidate on Thursday tracking muted global cues. The Nifty future closed negative with losses of 1.66% at 22,073 levels on Wednesday. India VIX was up 5.79% from 13.64 to 14.43 levels. Positive setup was seen in stocks like Abbot India, ICICI Bank, and Bajaj Finance while weakness in NALCO, … Read more
Indian market is expected to consolidate on Tuesday tracking mixed global cues. The Nifty future closed negative with losses of 0.01% at 22499 levels on Monday. India VIX was down by 0.47% from 15.24 to 14.92 levels. Positive setup was seen in stocks like BHEL, NTPC, Tata Communication, Gail India, PEL, Tata Power, MFSL, IGL, … Read more
After a slow start, benchmark indices rebounded late on Tuesday amid mostly firm global markets. The 30-share Sensex climbed 305 points to settle at 73,095 and the broader Nifty ended 76 points higher at 22,198. Stocks that were in focus included names like Easy Trip Planner, which rose 2.07%, Hindustan Copper, which fell 3.6%, and … Read more
