Indian Stock Markets to Remain Closed on Ganesh Chaturthi
The National Stock Exchange of India (NSE) and the BSE will remain closed on September 19 because of Ganesh Chaturthi. Wholesale commodity markets, including metal and bullion, will also remain closed. There will be no trading in the forex and commodity futures markets, too.
Indian Equity Indices Continue Record Run
On September 15, Indian equity indices continued their record run, with the Nifty crossing 20,200 for the first time amid mixed trends seen on the sectoral front.
The Sensex was up 319.63 points or 0.47 percent at 67,838.63, while the Nifty gained 89.20 points or 0.44 percent at 20,192.30.
“Besides firm global market cues, investors are anticipating a halt in rate hike by the US Federal Reserve in its policy meeting amid moderating inflation, which would augur well for local markets already witnessing a strong upsurge. A status quo on rate hikes would further bolster investors’ sentiment as this would give a further leg up to the economy on hopes of softening interest rate stance going ahead,” said Amol Athawale, Vice President – Technical Research, Kotak Securities.
- 22 Sep
Technical Analysis Report for Nifty and Three Buy Calls
The Nifty index has been on a strong uptrend in the past three weeks, but it has recently retraced some of those gains. It is now expected to oscillate within the 19,605 to 19,878 range over the next few sessions. Three stocks that look good for buying over the next 2-3 weeks are Havells India, KSB, and Gujarat Ambuja Exports. All three stocks have strong bullish momentum and are trading above their key moving averages.
- 22 Sep
Maruti Suzuki Stock Gains on Bullish Stance from Global Brokerages
Maruti Suzuki stock gains on bullish stance from global brokerages Shares of Maruti Suzuki India surged on Friday after global brokerages Citi and Morgan Stanley maintained bullish stance on the counter. Both brokerages cited the company's improving product mix and attractive valuation as key reasons for their optimism. In addition, Maruti Suzuki reported strong sales performance in August 2023, with total domestic sales jumping 14 percent year-on-year and sale of utility vehicles jumping 118 percent year-on-year. Overall, the bullish stance from global brokerages and the company's strong sales performance are providing a boost to Maruti Suzuki stock.
- 22 Sep
PNB Gilts Hits Upper Circuit on Inclusion of Indian Bonds in JPMorgan Index
Shares of PNB Gilts hit upper circuit on September 22, 2023, following news that India's inclusion in JPMorgan's bond index is seen driving billions of dollars of inflows. The index provider will add Indian bonds to its widely-tracked emerging market index starting June 28, 2024. PNB Gilts is a primary dealer in government securities and other fixed-income instruments. The inclusion of Indian bonds in JPMorgan's index is expected to attract significant foreign inflows, which is likely to benefit PNB Gilts and other primary dealers in government securities.
- 22 Sep
Indian Bond Markets to Remain Stable in Near Term After JPMorgan Inclusion
Indian bond markets are expected to remain stable in the near term after JPMorgan's inclusion of India in its widely tracked emerging market debt index, according to BlackRock's head of Asia Pacific fixed income, Neeraj Seth. Seth expects inflows of around $20 billion to $25 billion into India after the maximum weight threshold is achieved on the GBI-EM index. Given the size of the global government bond market, this is relatively small and is unlikely to have a significant impact on volatility.
- 22 Sep
Indian market drops on September 22 despite inclusion of Indian bonds in JP Morgan index
Indian benchmark indices Sensex and Nifty fell for the fourth consecutive day on September 22, despite the inclusion of Indian bonds in the JP Morgan Government Bond Index-Emerging Markets (GBI-EM) global index suite from June 2024. The market is expected to remain volatile in the near term, with key support at 19,600 for Nifty.