ECONOMY ANALYSIS
Sensex ends up 128 pts; Ranbaxy & Sun Pharma rise 5-6%, SBI gains
Ranbaxy turns corner, Q2 net at Rs 478 cr; OPM up 1770 bps
Lupin Q2 profit up 55%, misses topline & EBITDA estimates
Tech Mahindra Q2 profit may surge 15.5% to Rs 729 cr: Poll
State Bank of Mysore spikes 19% on strong Q2 profit
Expect 75 bps slash once RBI begins rate cut cycle: BofA ML
MARKET ANALYSIS
The Sensex surged over 400 points in intraday trade today, high-on BJP's win in
Assembly elections. The Sensex ended the day at 26,429.85; up 321.32 points.
The Nifty closed the day at 7,879.40; up 99.70 points.
The foreign institutional investors, who are generally sellers in October, are
expected to make a come back following the recent developments in India.
Scepticism against Modi government, slowdown concerns in China and recession in
Europe have been some of the factors that kept FIIs on the back-foot in October.
According to CLSA report, over 50 US-based investors revealed that some amount
of scepticism has been building up against Modi due to perceived lack of concrete
steps. Some US investors booked profit and reduced India weight in the recent
months.
However, global investors haven't jumped onto the India bandwagon as yet.
Analysts say FIIs will now have to balance between India.
"We expect heightened decision making over the next 3-6 months which should be a
positive for domestic cyclical recovery," said CLSA report.
Sensex ends up 128 pts; Ranbaxy & Sun Pharma rise 5-6%, SBI gains
Ranbaxy turns corner, Q2 net at Rs 478 cr; OPM up 1770 bps
Lupin Q2 profit up 55%, misses topline & EBITDA estimates
Tech Mahindra Q2 profit may surge 15.5% to Rs 729 cr: Poll
State Bank of Mysore spikes 19% on strong Q2 profit
Expect 75 bps slash once RBI begins rate cut cycle: BofA ML
MARKET ANALYSIS
The Sensex surged over 400 points in intraday trade today, high-on BJP's win in
Assembly elections. The Sensex ended the day at 26,429.85; up 321.32 points.
The Nifty closed the day at 7,879.40; up 99.70 points.
The foreign institutional investors, who are generally sellers in October, are
expected to make a come back following the recent developments in India.
Scepticism against Modi government, slowdown concerns in China and recession in
Europe have been some of the factors that kept FIIs on the back-foot in October.
According to CLSA report, over 50 US-based investors revealed that some amount
of scepticism has been building up against Modi due to perceived lack of concrete
steps. Some US investors booked profit and reduced India weight in the recent
months.
However, global investors haven't jumped onto the India bandwagon as yet.
Analysts say FIIs will now have to balance between India.
"We expect heightened decision making over the next 3-6 months which should be a
positive for domestic cyclical recovery," said CLSA report.
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