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Airtel, Nestle India, Mazagon Dock, IndiGo, Exide, and Hyundai are among the key stocks to monitor ahead of Friday's trading session. Additionally, International Gemmological Institution Ltd. will attract attention as it makes its market debut on the same day.
GIFT Nifty is nearing 23,900, with key focus on share prices of Bharti Airtel, Nestle, Mazagon Dock, and IndiGo. Gravita India Ltd. has successfully completed its qualified institutional placement, allocating 47.8 lakh shares at an issue price of Rs 2,096.2, reflecting a 5% discount to the floor price of Rs 2,206.49.
The S&P BSE Sensex plummeted nearly 1,000 points, hitting an intra-day low of 80,941.61, amid investor caution ahead of the US Federal Reserve's upcoming meeting. Key factors included a widening trade deficit of $37.8 billion and poor performance from heavyweight stocks like Reliance Industries and HDFC Bank. Despite the overall decline, midcap and smallcap stocks showed slightly better resilience, with only minor losses.
The stock market faced a significant downturn, with the BSE Sensex dropping over 1,000 points and the Nifty 50 declining by 1.4%. Key factors included investor caution ahead of the US Federal Reserve's meeting, fears of foreign institutional investor selling due to China's budget deficit plans, and weak global market cues. Among the major losers were HDFC Bank, Reliance Industries, and TCS, while only ITC and Hindustan Unilever showed gains in the Sensex.
On December 14, 2024, Sumeet Bagadia recommended three stocks to buy on December 16: Bharti Airtel, DLF, and Kotak Mahindra Bank. Additionally, experts suggested six small-cap stocks under ₹100, including Easy Trip Planners and Jayaswal Neco Industries, as potential buys. With discussions of a possible RBI interest rate cut, several growth stocks are expected to benefit from this economic shift.
The combined market valuation of six of the top-10 most-valued firms increased by Rs 2,03,116.81 crore last week, driven by gains from Tata Consultancy Services (TCS) and HDFC Bank. The BSE benchmark rose by 1,906.33 points, or 2.38%, while the NSE Nifty climbed 546.7 points, or 2.26%. TCS's market valuation surged by Rs 62,574.82 crore, reaching Rs 16,08,782.61 crore.
Sensex surged 809 points to 81,765.86, and Nifty climbed 240.95 points to 24,708.40, marking a seven-week high ahead of the RBI policy. IT and bank stocks led the rally, with Infosys and TCS each gaining over 3%. The broader market also thrived, with 2,144 stocks advancing.
Jigar Patel anticipates Nifty reaching 25,000, recommending short-term investments in Emami, Bharti Airtel, and Concord Biotech. Following a robust recovery, Nifty closed above 24,100, indicating a potential trend reversal, while Bank Nifty showed sideways movement with key support at 51,750. Traders are advised to buy Nifty Futures between 24,200-24,225 and Bank Nifty Futures with specific stop-losses and targets for continued bullish momentum.
UBS anticipates elevated slippages for Micro Finance companies due to a significant rise in overdues, with Portfolio at Risk for zero days increasing by 130 basis points to 17.5% in October. The firm notes that while recent floods may have impacted collection efficiency, the overall delinquency trend suggests ongoing over-leverage issues. UBS maintains a "neutral" rating on several banks with substantial MFI exposure, as tighter disbursement norms are expected to reduce liquidity for weaker borrowers and exacerbate delinquencies in the latter half of the financial year.
On November 29, the Nifty and Sensex rebounded strongly, with the Sensex rising 759 points to 79,803 and the Nifty gaining 217 points to 24,131, driven by gains in pharma, infrastructure, energy, and auto stocks. Zee Entertainment shares surged 5% after shareholders rejected CEO Punit Goenka's reappointment, while Divi's Laboratories rose 4% following a bullish report from Citi. Adani Group stocks jumped up to 20% after being included in the NSE's F&O segment, and Easy Trip Planners saw a 10% increase after announcing a 1:1 bonus share issue. Conversely, CreditAccess Grameen fell 8.5% after a downgrade from Goldman Sachs, which revised its target price significantly lower.
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