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Rally in markets is supported by monsoon, GDP growth and cool-off in commodity prices

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  The Nifty50 index showed 15% YoY earnings growth. The broader market saw approximately 10% growth. Financials and auto enjoyed the most significant upgrades. IT, pharma, and metals experienced downside. The Indian economy witnessed a real GDP growth rate of 7.2% in FY23. The market expects better corporate profit performance in FY24, despite a projected slowdown. Companies with stable domestic demand and those oriented towards the domestic market are likely to benefit the most. Value-oriented investments and stock-specific approaches are recommended. Here are some of the key factors that contributed to the better-than-expected results: A strong economic recovery in India, led by robust growth in the manufacturing and services sectors. A pickup in consumer spending, driven by rising incomes and employment. A favorable interest rate environment, which has helped to boost corporate earnings. A decline in commodity prices, which has helped to reduce input costs for companies. However...
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What to expect from Indian Markets in the week ahead?

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  11/6/23 5:00pm IST The coming week June 12-16 is going to be an eventful one as US Fed policy outcome for cues, which is scheduled on June 14. In the following sessions, the European Central Bank (ECB) and Bank of Japan will also announce their policy decision. On the macroeconomic front, participants will be tracking IIP data, CPI Inflation and WPI Inflation during the week. Apart from these factors, the updates on progress of the monsoon will also remain on their radar. “We recommend maintaining a positive stance till Nifty holds 18,400 and suggest focusing on sectors, which are showing relatively higher strength like auto, FMCG & realty and picking selectively from others. In case of a decline, the 18,100-18,200 zone would offer the needed cushion. We feel the prevailing outperformance may continue in the broader indices so continue to add quality stocks from midcap and smallcap space," said Ajit Mishra, SVP - Technical Research, Religare Broking Ltd. Market participants ...
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Stock market triggers: US Fed policy, IIP, CPI, among factors that may drive Sensex, Nifty this week

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 11/6/23 4:50pm IST Indian indices settled almost flat for the second consecutive week amid mixed cues. The beginning was subdued but buying in select heavyweights in the middle tried to change the tone. On Friday, Sensex closed closed 223 points, or 0.35 per cent, lower at 62,625.63 while the Nifty ended at 18,563.40, down 71 points, or 0.38 per cent. The domestic market had a positive start to the week, buoyed by favourable indicators such as stronger-than-expected PMI figures, sequential growth in auto sales, and robust expansion in bank credit, said Vinod Nair, Head of Research at Geojit Financial services “However, market sentiment was dampened as the RBI opted for a cautious approach by refraining from a significant cut in the inflation forecast. The central bank cited concerns over geopolitical uncertainties, the potential impact of El Nino, and the rise in the minimum support price while reaffirming their commitment to bringing down inflation to near the targeted 4%," he s...
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Nasdaq closes 1.7% higher Thursday as Nvidia's surge powers tech rally: Live updates

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The S&P 500 and Nasdaq Composite jumped Thursday as investors cheered the latest quarterly results from Nvidia, fueling a rally in technology stocks. Those moves also came as U.S. debt ceiling talks appeared to progress. The tech-heavy Nasdaq popped 1.71% to settle at 12,698.09, and the S&P 500 climbed 0.88% to finish at 4,151.28. The Dow Jones Industrial Average dipped 35.27 points, or 0.11%, to end at 32,764.65 and close below its 200-day moving average. Nvidia shares surged 24.4% a day after the company posted stronger-than-expected revenue guidance, and reported beats on the top and bottom lines in the recent quarter. Exploding demand for Nvidia chips used in artificial intelligence underpinned the quarterly beat. Several analysts covering Nvidia hiked their price targets on the stock following the results. Nvidia’s surge brought the chipmaker within striking distance of a $1 trillion market capitalization. Other semiconductor stocks and artificial intelligence names follow...
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Dow Jones Futures: Bullish Market Move On Debt-Ceiling Deal Hopes; Walmart Up On Earnings

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  Dow Jones futures were little changed early Thursday, along with S&P 500 futures and Nasdaq futures. Synopsys (SNPS) and Cisco Systems (CSCO) reported late Wednesday with Walmart (WMT). Alibaba (BABA) out before the market open. X The stock market rally bounced back Wednesday on optimism that President Joe Biden and Congress will reach a deal to raise the debt ceiling. The Nasdaq hit a fresh 2023 high while the Dow Jones moved back above its 50-day line after reaching a key level. Several stocks broke out or flashed buy signals Wednesday, including Broadcom (AVGO), ServiceNow (NOW), New Relic (NEWR), Taiwan Semiconductor (TSM), Royal Caribbean (RCL) and Darden Restaurants (DRI). Those reflect areas of market strength: chips, software, travel and restaurants. Dow Jones Futures Today Dow Jones futures were just below fair value, with CSCO stock and Walmart both Dow components. S&P 500 futures advanced 0.1% and Nasdaq 100 futures climbed 0.2%. The 10-year Treasury yield rose...
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Dow Closes Up More Than 400 Points With Debt Ceiling in Focus

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The Dow Jones Industrial Average gained 409 points, or 1.2%, the S&P 500 rose 1.2%, and the Nasdaq Composite was up 1.3%. All three indexes had their best day since May 5, according to Dow Jones Market Data. Earlier in the day, President Joe Biden said he was confident that he and congressional leaders would avoid a default. “President Biden and Speaker McCarthy continue to spar in the headlines, but we are starting to see enough common themes in their views to feel confident that a deal is going to be announced in relatively short order,” wrote Thomas Simons, a U.S. economist at Jefferies. “Given the June 1 x-date warnings from Treasury and the time it takes for the legislative process to play out, we could see an announcement of a framework as soon as Sunday when Biden returns from his trip to Japan for the G-7 meetings,” Simons added. Regional banks also saw gains Wednesday after Western Alliance Bancorp (WAL) said its deposits had grown in the current quarter.  
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Stock futures are little changed as traders hope for a debt ceiling deal: Live updates

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  U.S. stock futures were flat on Thursday morning as Wall Street hoped that the debt ceiling crisis would soon see a resolution.  Dow Jones Industrial Average futures  slipped by 49 points, or 0.15%. Futures linked to the S&P 500  and Nasdaq 100  futures declined by 0.07% and 0.01%, respectively.   The major averages all ended Wednesday’s regular session higher. The Dow gained more than 400 points. The S&P 500  rose 1.19%, and the Nasdaq Composite  advanced 1.28%. A rebound in regional bank shares also contributed to Wednesday’s rally. The SPDR S&P Regional Bank ETF (KRE) jumped more than 7%, while Western Alliance shares surged more than 10%. Investors’ sentiment seemed to rise after Washington leaders indicated that they are moving forward on debt ceiling talks. House Speaker Kevin McCarthy told CNBC’s “Squawk Box” on Wednesday that he does not believe the U.S. will default on its debt. President Joe Biden also stated in later ...
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