Page 1117 - Markets News
Rupee rises 6 paise to close at 83.04 against US dollar on strong sentiment
The rupee appreciated 6 paise to 83.04 (provisional) against the US dollar on Wednesday, supported by a firm trend in domestic equities.
 "Rupee rises 6 paise to close at 83.04 against US dollar on strong sentiment")
Sensex rises 612 pts ahead of interim Budget, US Fed; all sectors gain
Stock market highlights on Wednesday, January 31: In the broader markets, the BSE MidCap and SmallCap indices advanced 1.57 per cent and 1.83 per cent, respectively
 "Sensex rises 612 pts ahead of interim Budget, US Fed; all sectors gain")
Amara Raja jumps 7% to nearly 3-yr high; Exide Ind up 5% on heavy volumes
Amara Raja Energy hit a nearly three-year high of Rs 900 with a 7 per cent gain on the back of an over two-fold jump in average trading volumes
 "Amara Raja jumps 7% to nearly 3-yr high; Exide Ind up 5% on heavy volumes")
Stock of this smallcap power generation company has zoomed 123% in 3 months
Shares of KPI Green Energy were locked in the 10-per cent upper circuit at Rs 1,823.80, hitting a new high on the BSE in Wednesday's intraday trade
 "Stock of this smallcap power generation company has zoomed 123% in 3 months")
IRCTC, L&T, RVNL: How to trade rail, infra stocks ahead of Budget?
Barring IRFC, RVNL which have rallied sharply in the recent pasts, other rail-related stocks like IRCTC, Titagarh Rail Systems and RailTel could rally up to 23 per cent, suggest charts.
 "IRCTC, L&T, RVNL: How to trade rail, infra stocks ahead of Budget?")
L&T, Hero Moto, HUL, IRFC: Stocks to watch ahead of interim budget 2024
Cables and switch companies are expected to benefit from a fillip to housing construction activities and urban infrastructure, as per experts
 "L&T, Hero Moto, HUL, IRFC: Stocks to watch ahead of interim budget 2024")
Dr Reddy's rallies 4%; market cap touches Rs 1 trillion post Q3 results
With this, Dr Reddy's has become the third listed pharmaceutical company to achieve the Rs 1-trillion m-cap feat
 "Dr Reddy's rallies 4%; market cap touches Rs 1 trillion post Q3 results")
L&T sinks 7% as margins disappoint, weakness likely in order wins till June
The company's management indicated the pace of new orders in the domestic market had slowed and there would be weakness for the two quarters between now and June 2024 owing to the Lok Sabha elections
 "L&T sinks 7% as margins disappoint, weakness likely in order wins till June")
PB Fintech surges 13%, hits 2-year high on first quarterly profit in Q3
The stock of a fintech company was trading at its highest level since January 2022. It had hit a record high of Rs 1,470 on November 17, 2021.
 "PB Fintech surges 13%, hits 2-year high on first quarterly profit in Q3")
Stocks to Watch on Jan 31: TCS, L&T, Dr Reddy's, Policybazaar, Coromandel
Stocks to watch on January 31, 2024: Nova Agri Tech will make its debut today. The issue price is Rs 41
 "Stocks to Watch on Jan 31: TCS, L&T, Dr Reddy's, Policybazaar, Coromandel")
Nifty forms dark cloud cover pattern; NCC, Maha Bank buy calls for Jan 31
Nifty has formed a bearish Dark cloud cover pattern on daily charts. It could now face resistance at 21,813 while 21,429 could offer support
 "Nifty forms dark cloud cover pattern; NCC, Maha Bank buy calls for Jan 31")
Nifty PSU Bank in correction, Nifty Private Bank facing near-term downturn
The Nifty PSU Bank index is undergoing a correction phase, and a fresh buying momentum is anticipated only if it closes above 6,225, as per Ravi Nathani
 "Nifty PSU Bank in correction, Nifty Private Bank facing near-term downturn")
Banks' valuation discount to Sensex hits 10-year high, shows data
This is due to a relatively poor showing by top banking stocks on the exchanges in recent months. Analysts attribute this to the prospects of their muted earnings growth in the next few quarters
 "Banks' valuation discount to Sensex hits 10-year high, shows data")
After 7 yrs, TaMo pips Maruti Suzuki to become most valuable auto company
The combined market cap of Tata Motors (Rs 287,327 crore) and Tata Motors DVR (Rs 29,226 crore) stood at Rs 3.16 trillion
 "After 7 yrs, TaMo pips Maruti Suzuki to become most valuable auto company")
LIC's $30 billion market rally gives IPO investors chance at redemption
The state-owned life insurer's stock climbed 1.9% Tuesday, to close at its highest level since its IPO in May 2022
 "LIC's $30 billion market rally gives IPO investors chance at redemption")
Mark Mobius joins Hong Kong-based Chartwell Capital as strategic advisor
Founded in 2007, Chartwell Capital is an independent, Hong Kong-based investment firm that focuses on China's Greater Bay Area and the Asia-Pacific region.
 "Mark Mobius joins Hong Kong-based Chartwell Capital as strategic advisor")
Over 80% of Sensex, Nifty50 stocks trade above their 200-DMA
The 200-DMA is considered one of the most relevant trend indicators by investors and traders. They believe that stocks and indices trading above this key level exhibit strength and are likely to rally
 "Over 80% of Sensex, Nifty50 stocks trade above their 200-DMA")
Amid widening deficit, RBI may pump in liquidity via open market operations
Market participants said that if the government refrains from spending, the central bank might resort to other measures to infuse liquidity apart from variable rate repo auctions
 "Amid widening deficit, RBI may pump in liquidity via open market operations")
FPI lobby Asifma flags concerns over Sebi's proposed T+0 settlement cycle
'Two settlement cycles could lead to liquidity fragmentation, deterioration of market quality'
 "FPI lobby Asifma flags concerns over Sebi's proposed T+0 settlement cycle")
Profit booking in RIL weighs on indices; Sensex ends 802 points lower
Shares of RIL, the country's most valuable firm, fell 2.8 per cent and made a 246-point contribution to the Sensex decline
 "Profit booking in RIL weighs on indices; Sensex ends 802 points lower")