Nifty
Market Projections: Nifty Poised to Reach 21,000, Sensex Aiming for 70,000
Vijayakumar notes that any market dips are likely to be seized by Foreign Institutional Investors (FIIs) who have consistently demonstrated themselves as committed buyers. He points to the ongoing decrease in US bond yields, with the 10-year yield currently falling below 4.20 per cent, as a factor that will contribute to sustained FII buying.
2023 Sees Small and Midcaps Outshining Nifty Performance
In November 2023 specifically, midcaps and smallcaps continued their outperformance, exceeding largecaps by 4.9 per cent and 6.5 per cent, respectively.
Nifty Surges 10% from October Lows in Impressive Rally
The Indian equities market experienced a surge, reaching a fresh high of 20,702 following the BJP's decisive victory in three states.
NIFTY Achieves Record Highs, BSE SENSEX Poised to Follow Suit
The recent week in the stock market was marked by strong gains, with markets performing positively on three out of four trading sessions. Notably, Wednesday saw sharp gains, followed by a robust opening for the December series on Friday. The anticipation of election results in five states, as indicated by exit polls, suggested a closely contested race, with potential overall gains for the ruling party at the center. This, coupled with a strong rally in the Dow, contributed to the positive market sentiment.
'With more than 5% move in Nov, Nifty index looks to be 13% overvalued'
"While index starting valuation may not be a sufficient pre-condition for a price-correction, we do not expect any decent upside to the Nifty index over the next six months and do anticipate a time-correction," the report said.
Nifty Achieves Record Peak Amid Robust GDP Projections
Nifty closed at 20,267.90, marking a gain of 134.75 points or 0.67 percent, while the Sensex reached 67,481.19, climbing 492.75 points or 0.74 percent. The Sensex is now just 446 points away from its all-time high of 67,927.23.
Nifty Dips Amidst Banks' Poor Performance Impact
He underscores that the Nifty's performance is influenced by the underwhelming performance of banks, which carry substantial weightage within the index.
Metal and Realty Stocks Shine as Nifty Ends on a Positive Note
Vaibhav Vidwani, a Research Analyst at Bonanza Portfolio, highlighted the outperformance of sectors like Nifty Metal, Nifty Realty, and Nifty Pharma, exhibiting gains of 1.22%, 1.13%, and 1.03%, respectively.
RBI's Increase in Weightage on Unsecured Loans Leads to Decline in Nifty Bank Indices
The recent decision by the RBI to impose higher risk weights on credit card and unsecured loans is expected to immediately increase the capital requirements for banks and NBFCs.
IT Stocks Surge on TCS Buyback as Nifty Notches Second Consecutive Day of Gains
Vaibhav Vidwani, Research Analyst at Bonanza Portfolio, noted that the announcement of TCS's buyback at Rs 4,150 propelled Nifty IT to surge by 2.69%, making it one of the top-performing sectors for the day.
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