List of which stocks to watch… Jio Financial Services, One 97 Communications, Zee Entertainment Enterprise and may more
The Indian stock market today is a dynamic arena, bustling with numerous activities and events. From the performance of key indices and stocks to the latest IPOs and bulk deals, there’s a lot to keep track of.
Market Indices Performance
The Nikkei 225 and the S&P; ASX 200 were seen making noteworthy strides in the market. The Nikkei 225 experienced a significant rise of 303.47 points or 0.76%, reaching a landmark 40,214.29. Similarly, the S&P; ASX 200 edged higher by 5.30 points or 0.1%, settling at 7,750.90.
Anticipation Around China’s 14th National People’s Congress
Market enthusiasts keenly anticipate China’s 14th National People’s Congress, an annual parliamentary meeting. The expectation is that the country might announce further stimulus measures.
Global Market Performance
The performance of global indices also displayed a positive trend. The S&P; 500 Index and Nasdaq Composite ended higher by 0.80% and 1.14% respectively, on Friday, after touching record highs. The Dow Jones Industrial Average also saw an increase by 0.23%.
Commodity Market Update
In the commodity market, Brent crude was trading 0.37% higher at $83.86 a barrel, while gold prices remained steady at $2,082.63 an ounce.
Performance of Indian Indices
The Indian benchmark equity indices, NSE Nifty 50 and S&P; BSE Sensex, ended at new all-time closing highs on Friday. The NSE Nifty 50 closed 355.95 points or 1.62% higher at 22,338.75, and the S&P; BSE Sensex closed 1,245.05 points or 1.72% higher at 73,745.35.
Investment Patterns
Overseas investors continued to be net buyers of Indian equities for the second consecutive session on Friday. Foreign portfolio investors invested in stocks worth Rs 128.9 crore. Domestic institutional investors also remained net buyers, purchasing equities worth Rs 3,814.5 crore.
Currency Market Update
In the currency market, the Indian stock closed flat at 82.91 against the U.S. dollar.
Stocks to Watch
Notable stocks that warrant attention include Zee Entertainment Enterprise, One 97 Communications, Jio Financial Services, Axis Bank, Asian Paints, Torrent Power, Info Edge, Tanla Platforms, Vodafone Idea, Cipla, PVR Inox, Larsen & Turbo, Maruti Suzuki India, Hero MotoCorp, Welspun Corp., Rainbow Children’s Medicare, Lemon Tree, PFC, FSN E-Commerce Ventures, SH Kelkar & Co., Angel One, Ganesha Ecosphere, and Harsha Engineers.
IPO Offering
The public issues of Mukka Proteins and Bharat Highways were subscribed to 6.97 times on day 2 and 8.01 times on day 3, respectively.
Bulk Deals
Among the bulk deals, Ultramarine and Pigments and Suven Pharmaceuticals saw significant transactions.
Insider Trades and Pledge Share Details
Choice International and Apollo Micro Systems made notable moves in insider trades and pledge share details.
Who’s Meeting Whom
Indian Hotels, Whirlpool of India, PNB Bank, Tarc, Mahindra Logistics, Ajmera Realty, and Vedanta Fashion have scheduled meetings with analysts and investors.
Trading Tweaks
Azad Engineering, EIH Associated Hotels, Force Motors, IFB Industries, Jana Small Finance Bank, and Solara Active Pharma Sciences moved out of the short-term ASM framework.
In conclusion, the Indian stock market today presents a vibrant picture of economic activity and investor interest. The performance of key indices, stocks, and commodities, coupled with the anticipation of policy decisions, makes it a fascinating space to watch.
-Daisy