Financial & Morning Market Updates- 17 Mar 202
Last week, the market had traded within a very narrow range, but with a decline of 0.67%.
But Midcap and small cap took the hit and were down 2% and 4% respectively.
Due to a slowdown in US markets, India’s IT sector took max Hit last week as the same was down by 4.5%.
Inspite of FII heavy selling and significant decline in US markets, Indian Market remained stable.
US markets are down 10% from its peak and Chinese markets are at highest level since December.
India will be 3rd Largest Economy by 2028- says Morgan Stanley. By 2026, it will become 4th largest economy behind US, China and Germany and India will overtake Germany by 2028. (Morgan Stanley)
India was 13th Largest economy in 2000 .
India’s Forex reserve rose to $654 bn this week, up by $15.26 bn .
Consumer Price Index(CPI) or retail inflation is likely to come below RBI ‘s 4.4% estimate for Q4. It’s likely to be around 3.8%.
If this happens, lots of probability of another rate cut of 0.25 basis pt by RBI, will be there in April 25.
Among Indian states, Kerala had the highest inflation rate at 7.3% in Feb. While Telangana had lowest with 1.3%.
As the FY comes to end, so comes up the bank strikes. United Forum of Bank Union have called for Nation wide strike on March 24 & 25.
Amidst this huge market volatility , LG Electronics India has recd SEBI approval for its much awaited Rs 15000 cr IPO.
Honeymoon period for Rupay cards are slowly and steadily getting Over!! PNB has announced changes to its Rupay Debit card benefits. It has discontinued Lounge access on its Rupay Debit cards. Now only premium select Rupay Debit card of PNB is giving Lounge access.Same will be applicable from 01 Apr 25.
HDFC Bank credit card has tied up with Air India to convert reward points to Maharaja Club points. On conversion of same, you also get 50% bonus as inaugural offer.2 HDFC reward points are equivalent to 1 Maharaja points.
Besides same following bank reward points can now be converted to Air India’s Maharaja Point
- DBS
- HSBC
- SBI card
- ICICI
Godrej Properties has launched a 1 cr , 2 BHK property in North Bengaluru, 15 mins from Airport for its Mega new project and one of biggest in Bengaluru.
As the hiring seasons starts in colleges…..Heavy rush in recruitment from B-schools are seen where Big online/ecom companies like Flipkart, Amazon, zomato and startups have lined up at top B schools with good pay packages .. Buisness schools once again is Top preferred place for high placements as compared to Engg/medical/Law etc .The pay packages at B-schools are ranging from 20 lakh to 54 lakh per annum for B- school Freshers.
Term insurance is now not just taken by Salaried professional, even Home makers are buying Term insurance. As per study done by Policy bazaar, 2 in every 5 homemakers are now buying Term insurance. It’s an increase of around 20% since last 2 yrs. Most woman buyers of Term insurance plan are from 31-40 yrs age
₹ surged strong to settle at 87 against dollar.
US attack on Houthis have pushed crude oil price up by 1%.
Markets Today
Technical charts as studied by experts says that a short covering rally is likely in Nifty this week amidst a decline in dollar index and crude oil prices.
The index may move towards 22900-23100 this week.
As per Jatin Gedia, Technical Research Analyst, Mirae Asset/Sharekhan, The outlook of market post last week’s consolidation looks bullish as Indian markets didn’t react adversely to falling US markets.
Analysts have warned to stay away from Mid and small cap counters till Nifty substantively crosses 22900 levels.
So amidst, all these market positivity around, Nifty is all set to open in Green 🟢.
A good morning opening is expected today. Likely that a opening around or above 22500 is expected.
But day ahead will be crucial as any little weakness in market in day ahead can trigger selling.
A strong support is there at 22300 levels, breaching of which can learn to substantial fall towards 22000 levels.
But on up side Nifty has a crucial Resistance level at 22630, breakout from here will take market to 22800
Stock News
Yes Bank launched its GST payment facility, strengthening it’s digital banking offers.
Strides pharma Acquires 100% stakes in Amexel Pte, Singapore
Royal Enfield is all set to launch its first E- Motorcycle by 2026. So,the thud sound of Bullets will soon be thing of past😊
US based asset manager Blackstone is set to acquire 40% Equity stake in realtor Kolte Patil Developers in a deal valued Rs 1167;cr.
RVNL is planning to enter Metro Maintenance & ops in collaboration with Germany’s Deutsche Bahn for Bangalore Metro.
RBI has assured that the financial position of Indusind remains satisfactory, reassuring depositors or safety of their money.
Zydus life science has received approval from US FDA to manufacture Eluxadoline Tablets.
Galaxy Surfactants have declared a dividend of Rs 18 .
KEC international has recd order for Rs 1267 cr.
Brigade Enterprise has launched its latest residential project , Brigade Eternia in Yelahanka, Bengaluru.
Dr Reddys has recalled it’s premium injection Levetiracetam in 0.75% Sodium Chloride in US due to Mislabelling.
Moneycontrol & ET stock picks for week to go up
SRF
BoB
NTPC
HDFC Bank
ABB
Siemens
BPCL
Ceat
Cipla
Navin Fluorine
Chambal Fertilizer
SBI Card
Shree Cement
Kotak Bank
Bajaj Finance
JSW Steel
Moneycontrol stock picks which may go weak this week
Titan
Bsoft
Supreme Industries
Bajaj Auto
L&T
Dalmia Bharat
Dr Reddy
Heromotor
Dabur
Gail
Colgate – Palmolive
Gold & Silver
Unbelievable Bull run is on here in Gold and Silver segment, where Gold is zooming phenomenally well and broke the 90000 barrier.
And not just 90000, it’s now trading at 91000 level
Silver too gave a good company to gold and crossed 1 lakh level and is trading at 103000.
Gold ETF is now one of most sought after investment in market. AUM of Gold ETF have nearly doubled in last year to Rs 55,677 cr as of Feb 25 as against Rs 28,529 cr last year.
And as Indian Wedding season is approaching, these figures can go high.
So , here we are start of new week and this morning the Green portfolios, will bring lots of cheers on investors face….. But can we sustain this Greenery???
Let’s wait and watch today…
Happy Investing!
Disclaimer: All investments are subject to market risks. Please check the fundamentals and other stock market parameters carefully in detail before investing. Also, it is always good to consult a qualified financial advisor for stock market investments. Opinions and Recommendations above are Authors’ personal, you are should carry out your own checks & balances and due diligence before investment. Break
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