(ZUMAPRESS.com/Newscom) IC_bull_070516_newscom - The Charging Bull sculpture, which is sometimes referred to as the Wall Street Bull or the Bowling Green Bull, is a bronze sculpture, originally guerilla art, by Arturo Di Modica that stands in Bowling Green Park in the Financial District in Manhattan, New York City.
Photo Courtesy: investors.com
Financial & Morning Market Updates- 28 March 25
Market saw upmove after two sessions of cooling off and consolidations. After good Buying yesterday, Nifty closed at 23590 levels.
PSU bank stocks and media stocks gained most .
Post Donald Trumps 25% tariff move on Automobiles, Indian Nifty Auto Index dropped massively which was led by Tata Motors which has higher exposure to rising US Tariffs because 1/3rd of Jaguar sales comes from North America.
On brighter note, India is back in favour of FII/FPI who have invested highest in Indian markets among Asian Markets in March. Is it a return of confidence move???
FII bought hugely yesterday with net BUY of plus Rs 11,111 cr. And DII bought for Rs 2518 cr.
Restaurant services in Hotels with Tariff over Rs 7500 per day to attract 18% GST on food bill from 01 Apr.
Maharashtra has dropped 6% Tax plan on EV cars above 30 lakhs.
Rupee fell to Rs 85.71 against US dollar.
Market Today
US market closed marginally down. All Asian Markets are down.
Market reaction is expected to US Q4 GDP data, which has been revised upwards.
Analyst expect Market to consolidate today with positive bias
But market is expected to open flattish. A range bound day momentum can be expected. A strong resistance is seen at 23800 levels and on downwards a strong resistance is at 23300 levels.
A important day for investors in view of Weekly expiry. And in absence of any Buying by major players a Very high chances of profit booking can be expected in view of FY closing.
Stock News
BSE stock may see good rally again today after NSE defers changing Derivatives expiry day.
LIC is all set to buy 40-49% stake in Manipal Cigna Health Insurance .This will be first ever acquisition entry of state owned company to own a private company.
Vedanta shareholders have finally approved demerger of Vedanta into 5 groups ie Vedanta Limited, Vedanta Aluminium, Vedanta Power, Vedanta Oil and Gas and Vedanta Iron and Steel.
HAL shares are all zooming as GE delivers first Engine for LCA Mkla.
MoD signed a contract worth 2500 cr with Force motors and M&M for Light vehicle, anti tank Missile systems etc
Bharat Forge wins largest defence contract worth Rs 4140 cr.
BEL receives fresh order for Rs 1385 cr.
Zen technologies bagged a order for Rs 152 cr from MoD for Integrated Air Defence Combat Simulator.
HAL faces huge embarrassment in Parliament for production delays and Dhruv Helicopter Groundings.
SBI has earned over Rs 330 cr as earning from ATM cash withdrawals. On contrary BoB and Union Bank lost Rs 925 cr for ATM payment.
ONGC invested Rs 3300 cr in it’s subsidiary ONGC Green for its renewable energy footprint. And a JV acquired Ayana Renewable Power, enhancing assets by 4.1GW.
BUY Recommendations
Three strong BUY Recommendation have come from Motilal Oswal Brokerage.
Marico
CMP- 649
Tgt 775
HDFC AMC
CMP- 4073
Tgt 4800
Brigade Enterprises
CMP- 993
Tgt 1415
Geojit BNP Paribas has given some BUY and SELL Recommendations
Mazagon Dock
CMP- 2695
Tgt 2318
SELL at present levels
Sobha
CMP- 1210
Tgt- 1447
DLF
CMP- 688
Tgt- 811
Citi Group has given strong BUY for
HDFC Bank
CMP- 1825
Tgt- 2200
CLSA has given BUY for
Samvardhana Mother son
CMP- 132
Tgt- 167
Gold/Silver
After a week of consolidation Gold is back in Action. Trumps Tariff actions amidst world uncertainty on Trades led to jump on Gold prices . Gold is trading at 91800 price Expected price of gold in next few weeks may be upto 94000/95000 levels.
Silver was trading at 102000 levels
A sideways momentum is expected after a flat start to the day. A high risk day for sure, being expiry day and FY closing , Investors may exercise caution in case of same. However if sitting with cash, one may explore the buying options as recommended by Brokerages companies.
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.
