NoneThe NSE Nifty 50 finds immediate support near 24,550, with key resistance positioned at the 25,000–25,200 levels. Analysts highlight further resistance in the 25,200–25,400 zone while maintaining a positive outlook as long as the index stays above 24,300. "Technically, the support base now shifts upward towards 24,500 on an intermediate basis, which is likely to cushion any intra-week blips, followed by a sacrosanct support zone placed from the 24,350–24,250 zone," according to Osho Krishnan, senior analyst of technical and derivatives at Angel One. "On the higher end of the spectrum, 24,800, followed by 25,000–25,100, is likely to be seen as the next potential resistance for the benchmark index in the upcoming week," Krishnan said. Technically, on the daily chart, the index took a pause after a strong rally and formed a small red candle, while on the weekly chart, it formed a strong bullish candle, indicating strength, according to Hrishikesh Yedve, assistant vice president for technical and derivatives research at Asit C Mehta Investment Interrmediates Ltd. Yedve noted that, additionally, the index has witnessed a breakout from an inverted head and shoulders pattern. "As per this breakout, the index could test 25,000–25,200 levels in the medium term. Immediate support is placed near 24,550, followed by 24,300. As long as the Nifty stays above 24,300, traders should adopt a buy-on-dips strategy," he said. "As RBI reduced the CRR by 50 bps to 4% in line with market expectations, this move is expected to enhance liquidity in the financial system, support credit growth, and aid economic recovery. The repo rate was maintained at 6.5%, showcasing a balanced approach to managing inflation while fostering growth," according to Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services Ltd. "Next week, we expect Nifty to maintain its gradual upmove, driven by a potential increase in liquidity post RBI’s CRR cut, positive news flows around government policies, and the return of FII inflows," said Khemka. Bank Nifty settled the day on a marginally negative note at 53,510 levels. "On the higher side, the index could attempt to test levels of 54,000–54,500 in the short term. On the downside, 52,850 will act as immediate support for the index, followed by 52,500," said Yedve. So, he advised traders to adopt a buy-on-dips strategy in Bank Nifty. Overseas investors turned net sellers of Indian equities after buying for three consecutive sessions on Friday, while the domestic institutional investors turned net buyers after three days of selling. Foreign portfolio investors offloaded stocks worth Rs 1,830.31 crore, and domestic institutional investors bought shares worth Rs 1,659.06 crore, according to provisional data shared by the National Stock Exchange. The Nifty November futures rose by 0.04% to 24,775, at a premium of 98 points, with the open interest down by 1.64%. The open interest distribution for the Nifty 50 Dec. 12 expiry series indicated most activity at 26,200 call strikes, with the 21,600 put strikes having maximum open interest. The NSE Nifty 50 and BSE Sensex ended Friday's session with a marginal loss as HDFC Bank Ltd. and Reliance Industries Ltd.'s share prices dragged. The NSE Nifty 50 posted the biggest weekly gains since early June. The Nifty 50 ended 39.05 points, or 0.16%, down at 24,669.35, and the Sensex ended 56.74 points, or 0.07%, down at 81,709.12. One 97 Communication: Paytm is set to sell its 5.4% stake in Japan's digital payments company PayPay Corp. to investor SoftBank for $250 million, or around Rs 2,000 crore. The company’s arm approved the sale of stock acquisition rights in Japan's PayPay Corp. Delta Corp: The board decided to optimise the Dhargal Project by transferring its arm, Deltin Hotel and Resorts. Wipro: The company signed an agreement with SIAM.AI for AI-powered digital assistant for the tourism authority of Thailand. AIA Engineering: The US Department of Commerce's imposition of an anti-dumping duty of 4.30% on certain high chrome cast iron grinding media imported from India became effective today, Dec. 6, 2024. JSW Energy: The company’s arm received a letter of award for setting up a 400-MW ISTS-connected solar power project from NTPC against a tariff-based competitive bid. Inox Green: The company entered into a share purchase agreement to sell its entire stake in arms, including Flurry Wind Energy and Flutter Wind Energy. Laurus Labs: The arm signed a definitive pact for an equity investment of Rs 120 crore from Eight Roads Ventures and F-Prime Capital. The company agreed to co-invest an additional Rs 40 crore at the same valuation. Alembic Pharma: The company dissolved six step-down subsidiaries. Rupee strengthened sharply against the US dollar as the Reserve Bank of India raised the interest rate ceiling on deposits on foreign currency non–resident accounts, and cut the cash reserve ratio to boost liquidity in the banking system. The Indian unit rose 16 paise to the day's high of 84.57 a dollar against the greenback. It opened flat at 84.65 a dollar. The rupee closed at 84.73 a dollar on Thursday, according to data on Cogencis.
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LOS ANGELES — The electoral map in November was largely a sea of red, but there is a bright spot — or really, three — for Golden State Democrats. In the Central Valley, the Antelope Valley and Orange County, a trio of Democratic congressional challengers unseated Republican incumbents as the party narrowed the GOP's razor-thin majority in the House of Representatives. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
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Shares of the Bharat Forge Ltd. traded at Rs 1366.95 on BSE at 10:41AM (IST) on Monday, 0.88 per cent from previous close. The stock quoted a 52-week low price of Rs 1063.40 and a high of Rs 1826.20. Earlier, shares of the company saw a gap down opening in the morning. A total of 8,849 lakh shares changed hands on the counter till 10:41AM (IST). The stock of Bharat Forge Ltd. commands a market value of Rs 63480.68 crore. Stock Trading Stock Valuation Made Easy By - Rounak Gouti, Investment commentary writer, Experience in equity research View Program Stock Trading Cryptocurrency Made Easy: Cryptocurrency Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Derivative Analytics Made Easy By - Vivek Bajaj, Co Founder- Stockedge and Elearnmarkets View Program Stock Trading Commodity Markets Made Easy: Commodity Trading Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading A2Z of Stock Market for Beginners: Stock Market Course For Beginners By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Options Scalping Made Easy By - Sivakumar Jayachandran, Ace Scalper View Program Stock Trading Technical Analysis for Everyone - Technical Analysis Course By - Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities View Program Stock Trading Candlesticks Made Easy: Candlestick Pattern Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading RSI Trading Techniques: Mastering the RSI Indicator By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program The stock traded at a price-to-earning (P/E) multiple of 67.04, while the price-to-book value ratio stood at 7.33. Return on equity (ROE) was at 13.28 per cent, according to exchange data. In the BSE500 pack, 272 stocks traded in the green, while 227 stocks were in the red. Promotor Holding Promoters held 45.25 per cent in the Bharat Forge Ltd . as of 30-Sep-2024 while foreign portfolio investors and domestic institutional investors owned 18.72 per cent and 26.28 per cent, respectively. (You can now subscribe to our ETMarkets WhatsApp channel )
