Page 1129 - Markets News
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")
Bajaj Finance slides 5% as mgt flags rural, B2C stress post Q3 results
Shares of the Bajaj Group company tumbled 5.3 per cent to Rs 6,806 per share on the BSE in Tuesday's intraday trade
 "Bajaj Finance slides 5% as mgt flags rural, B2C stress post Q3 results")
Crude oil up on tensions in West Asia, China economy worries limit gains
March Brent crude futures, which are due to expire on Wednesday, rose 8 cents, or 0.1%, to $82.48 a barrel by 1059 GMT
 "Crude oil up on tensions in West Asia, China economy worries limit gains")
Profit booking in Reliance, drop in financials weigh on Indian shares
The blue-chip NSE Nifty 50 index declined 0.99% to 21,522.10 points and the S&P BSE Sensex fell 1.11% to 71,139.90
 "Profit booking in Reliance, drop in financials weigh on Indian shares")
Sensex sheds 802 pts, Nifty near 21,500; Bajaj Fin drops 5%,TaMo rises 3%
Stock market highlights on Tuesday, January 30: In the broader markets, the BSE SmallCap index clutched on to its gains as it ended 0.11 per cent higher
 "Sensex sheds 802 pts, Nifty near 21,500; Bajaj Fin drops 5%,TaMo rises 3%")
Maruti Suzuki Q3: Analysts expect profitability to weaken QoQ; here's why
Maruti Suzuki news: Analysts expect Q3 earnings to take a hit on a sequential basis on the back of adverse product mix and higher discounts offered during the December quarter.
 "Maruti Suzuki Q3: Analysts expect profitability to weaken QoQ; here's why")
Vedant Fashions hits 18-month low, slips 7% on weak outlook
According to the management, the overall performance in 9MFY24 got impacted due to significantly lower weddings nationally, general slowdown impacting consumer sentiments
 "Vedant Fashions hits 18-month low, slips 7% on weak outlook")
Bank of Baroda to report Q3FY24 results on Jan 31; Here's what to expect
Bank of Baroda news: Higher cost of deposits could put pressure on net interest margins, brokerages pointed out in their result preview report.
 "Bank of Baroda to report Q3FY24 results on Jan 31; Here's what to expect")
BLS E-Services IPO sails through on Day 1: Here's all you need to know
BLS E-Services Rs 311 crore IPO was subscribed up to 2.5 times as of 11:30 AM on Day 1 of the offer period.
 "BLS E-Services IPO sails through on Day 1: Here's all you need to know")