stock talk

The BJP's victorious stance in the state Assembly polls across Madhya Pradesh, Rajasthan, and Chhattisgarh triggered a monumental rally, with PSU stocks emerging as the most significant gainers.

At 3.2 per cent, inflation levels were considered "cool" by the Federal Reserve, which typically aims for a steady rate of around 2 per cent.

​​​​​​​According to a report by Jefferies, the surge in investor engagement and the segmentation of equity derivatives have propelled derivative volumes to 20-30 times higher than those observed in developed markets.

Life Insurance Corporation of India (LIC) witnessed a 7% increase, reaching Rs 662. The positive momentum in PSU insurance stocks comes as GIC (General Insurance Corporation) reported that a rating agency has re-affirmed existing ratings and assigned an India National Scale Rating (NSR) to GIC.

He speculates that confirmation of political stability post the 2024 General Elections through the state election outcomes could initiate a pre-election rally.

The BSE Small Cap Select Index dropped by 1%, with stocks like Sonata Software and Suzlon declining by 5%, while KPIT Tech, JSL, and Fortis witnessed drops ranging from 2% to over 4%.

The week ended with BSESENSEX gaining 890.05 points or 1.37 per cent to close at 65,794.73 points, while NIFTY gained 306.45 points or 1.58 per cent to close at 19,731.80 points.

The investment bank's upgrade takes into consideration India's large domestic market, which remains robust even in the face of a global economic slowdown. 

Buy on dips strategy has worked well for investors with risk-appetite. The market construct now is favourable for the bulls despite the uncertainty surrounding the Israel-Hamas conflict, he said.

BSESENSEX lost on three of the four trading sessions and gained on just Friday. BSESENSEX lost 1,614.82 points or 2.47 per cent to close at 63,782.80 points while NIFTY lost 495.40 points or 2.53 per cent to close at 19,047.25 points.