Nifty stock4/30/2023 The Nifty 50 stocks got their notoriety in the bull markets of the 1960s and early 1970s. Today’s blue-chip stocks in several ways resemble the Nifty Fifty stocks of prior decades.However, part of this list also included now-struggling or defunct companies like Xerox and Polaroid. Examples of Nifty Fifty stocks included household names such as General Electric, Coca-Cola, and IBM.The Nifty Fifty was a group of 50 large-cap stocks on the New York Stock Exchange in the 1960s and 1970s, characterized by their consistent earnings growth and high P/E ratios.SVP Global, Alok Textiles and Dollar Industries shed 4-5 per cent each. On the other hand, Triveni Turbine plunged over 6 per cent, whereas Indo Amines plunged more than 5 per cent. Among other gainers, Quess Corp, Rane Madras and Tata Telecommunications rose 5-6 per cent each. Rail Vikas Nigam Ltd surged 8 per cent, whereas Titagarh Wagons jumped over 7 per cent. In the broader markets, railways stocks remained at focus on the back of Vande Bharat Train's order win. Domestic economy-facing stocks like banks, capital goods, cement, select autos and FMCG will continue to do well," he said. "Investors should make a distinction between FII selling on rising interest rates in the US and DII buying on improving prospects for the domestic economy. FIIs cannot be expected to turn buyers in this scenario, said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Yesterday the US 10-year bond yield touched 4 per cent. The major concern for global equity markets continues to be the rising bond yields in the US, which will act as a drag for FII inflows into emerging markets like India. Hero Motocorp posted decent gains after strong monthly sales numbers. On the contrary, Bajaj Finserv Ltd jumped 2 per cent after bagging a mutual fund license. In the Nifty50 pack, Tech Mahindra Ltd and Infosys Ltd topped among the laggards, followed by Axis Bank, Mahindra & Mahindra Ltd and Maruti Suzuki Ltd. Adani Total Gas dropped 2 per cent, whereas Adani Power, Adani Transmission, Adani Green hit upper circuits. Adani Enterprises dropped 10 per cent at the opening tick, whereas Adani Ports, Ambuja Cements and ACC were also down about a per cent. PSU Bank, Pharma and FMCG indices were also down.Īdani Group stocks continued to remain at focus of traders ahead of the Supreme Court's decision later in the day. Among the losers, the IT index dropped more than a per cent, whereas the Auto Index also posted major cuts. Nifty Financial Services, Media and Private Bank indices posted any gains. One should continue to identify such potential movers and trade accordingly and stay abreast with global and domestic developments on a regular basis," he said. And even though the indices may not be doing much, the individual stocks are not at all short of action. "Many stock-specific adjustments are likely to continue and provide substantial trading opportunities. While on the higher end, an authoritative breach beyond 17,600 could trigger the next leg of rally in the comparable period, said Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel One. Fear gauge India VIX shed over a per cent to 12.85-level.įor Nifty, 17,350-17,300 is likely to cushion any short-term blip, while the swing low of the 17,250 odd zone is expected to act as a sheet anchor for Nifty. Broader markets outperformed the headline peers as BSE midcap and smallcap indices were trading in green. However, indices seesawed between red and green zone for the initial few minutes as recovery could not sustain.Īt 9.20 am, the 30-share pack BSE Sensex was trading 87.83 points, or 0.15 per cent, lower at 59,323.25. After a day's hiatus, bears were back at Dalal Street as benchmark indices opened lower on Thursday on the back negative global cues.
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