Page 1080 - Markets News
Sensex snaps 3-day winning run, ends 362 pts down; Airtel, HDFC Bank drag
Market wrap on March 26, 2024: The NSE Nifty 50 shed 92 points, but managed to end above 22,000-mark. The BSE MidCap index, outperformed and finished with a gain of 0.7 per cent.
 "Sensex snaps 3-day winning run, ends 362 pts down; Airtel, HDFC Bank drag")
Hotel stocks rally up to 9% in weak market on hopes of strong earnings
Analysts at Emkay Global see the strength in hospitality industry sustaining in March (Q4)/June (Q1) quarter, based on their channel checks, with year-on-year (YoY) improvement in average room rates.
 "Hotel stocks rally up to 9% in weak market on hopes of strong earnings")
This smallcap stock has zoomed over 100% in 5 months; hits new high
Shares of Sanghvi Movers, a major player in the crane rental industry, moved higher by 11 per cent to Rs 1,282.95 on the BSE on Tuesday
 "This smallcap stock has zoomed over 100% in 5 months; hits new high")
Mid-, Small-Caps: Correction coming to an end; Time to buy, says Nuvama
Nuvama Institutional Equities, in report based on technical analysis, expects the Nifty MidCap to turn bullish above 48,100 and SmallCap above 15,400 levels.
 "Mid-, Small-Caps: Correction coming to an end; Time to buy, says Nuvama")
IndiGo rallies 4% to hit fresh high, stock zooms 79% thus far in FY24
IndiGo plans to add 10 new destinations in fiscal 2025 and manage a fleet of more than 600 aircraft by 2030 as it expects the number of fliers in India to more than double by the end of the decade
 "IndiGo rallies 4% to hit fresh high, stock zooms 79% thus far in FY24")
Mankind Pharma slips 4% on Beige's likely 3% stake sale via block deal
According to media reports, Beige Ltd, an affiliate of private equity firm ChrysCapital, was looking to offload 2.90 per cent stake in the drugmaker through block deals
 "Mankind Pharma slips 4% on Beige's likely 3% stake sale via block deal")
RVNL zooms 6% on MoU with Airport Authority of India worth Rs 294 cr
Shares of Railway Vikas Nigam, the construction arm of Indian Railways zoomed 6 per cent on BSE in Tuesday's intraday trade against a 0.36 per cent dip in BSE Sensex
 "RVNL zooms 6% on MoU with Airport Authority of India worth Rs 294 cr")
Life insurance shares in focus; Max Financial, HDFC Life rally up to 6%
In a relief for life insurance company investors, regulator Irdai has retained most existing surrender charges in the revised product regulations
 "Life insurance shares in focus; Max Financial, HDFC Life rally up to 6%")
Breakout stocks: SRF, Shoppers Stop can rally up to 10%, hint tech charts
Alok Industries and Chambal Fertilisers among others have recently bounced back above their 30-EMAs; charts suggest a possibility of an up move in the near-term.
 "Breakout stocks: SRF, Shoppers Stop can rally up to 10%, hint tech charts")
Indus Towers at over 2-yr high; Citi maintains buy, bull-case target Rs 400
Indus is witnessing demand for rural expansion and densification in urban areas, particularly from Bharti Airtel
 "Indus Towers at over 2-yr high; Citi maintains buy, bull-case target Rs 400")
Trust Fintech SME IPO opens today: Check GMP, anchor issue & other details
Trust Fintech has raised Rs 18.05 crore from allocating nearly 1.8 million shares at Rs 101 to anchor investors ahead of the IPO
 "Trust Fintech SME IPO opens today: Check GMP, anchor issue & other details")
Stocks to watch on March 26: UltraTech, Mankind Pharma, RIL, RVNL, Lupin
Stocks to Watch on March 26, 2024: Reliance Industries acquired a 100 per cent stake in MSKVY Nineteenth Solar SPV and MSKVY Twenty-second Solar SPV from MSEB Solar Agro Power
 "Stocks to watch on March 26: UltraTech, Mankind Pharma, RIL, RVNL, Lupin")
Nifty50, Nifty Financial, PSB indices: Check key levels for trading action
If Nifty closes above 22,225, the next resistance levels on the charts would likely be around 22,350 and 22,575
 "Nifty50, Nifty Financial, PSB indices: Check key levels for trading action")
Wall Street declines ahead of US data; dollar faces heat from yen, yuan
Wall Street's main indices kicked off the week on a lower note. Market participants are hoping that Friday's US prices data will back investor bets for a June interest rate cut by the Federal Reserve
 "Wall Street declines ahead of US data; dollar faces heat from yen, yuan")
Hong Kong regains fourth-largest market spot after rout in Indian equities
India cedes position as broader market rout shaves off $180 bn in mcap; China & Hong Kong markets have rebounded over 12 per cent
 "Hong Kong regains fourth-largest market spot after rout in Indian equities")
Fundraising through SME IPOs hit a new high in FY24, Rs 5,579 crore raised
Investors should not take long-term positions in SME IPOs unless they are familiar with the sector and the company, analyst cautions
 "Fundraising through SME IPOs hit a new high in FY24, Rs 5,579 crore raised")
With mercury rising, analysts foresee summer surge for consumer durables
IMD forecasts that most parts of the country will experience hotter-than-average temperatures from March through May, leading to an uptick in the frequency of heatwave days
 "With mercury rising, analysts foresee summer surge for consumer durables")
FPIs invest over Rs 38K cr in equities in Mar so far amid positive outlook
With this, foreign portfolio investors' (FPIs) investment has turned positive to the tune of Rs 13,893 crore in equities so far in 2024 and Rs 55,480 crore in the debt market
 "FPIs invest over Rs 38K cr in equities in Mar so far amid positive outlook")
Mcap of 5 of top-10 firms hit Rs 1.97 trn; TCS, Infosys biggest losers
The market valuation of TCS tanked Rs 1,10,134.58 crore to Rs 14,15,793.83 crore, the most among the top 10 firms
 "Mcap of 5 of top-10 firms hit Rs 1.97 trn; TCS, Infosys biggest losers")
Global cues, FII activity to guide stock markets next week, say Analysts
Movement in global oil benchmark Brent crude and rupee-dollar trend would also be watched by investors
 "Global cues, FII activity to guide stock markets next week, say Analysts")