BANK STOCKS
Market Trading Guide: ACC, IndusInd Bank among 5 stock recommendations for Tuesday
Benchmark Sensex rose 443 points to close at a new record high of 79,476.19, while Nifty rose by 131.35 points to settle at a fresh lifetime high of 24,141.95 on Monday on buying in banking and IT shares in line with gains in Asian and European markets. As many as 20 Sensex shares closed higher while 10 stocks declined. Sector-wise, there was a mixed trend with IT, financials, and metals showing decent gains, while energy and realty dipped about half a percent. "The consistent buying interest on dips suggests bullish control, likely continuing the current tone. The renewed strength in midcap and smallcap segments adds further positivity. Traders should focus on selecting sectors/themes with rotational participation and consider adding positions during pauses or dips," said Ajit Mishra – SVP, Research, Religare Broking. Here are 5 stock recommendations for Tuesday:
Trader's Corner: Midcap scripts 8% rise as IT services stock aims at 7% gain
Momentum moving to many other sectors and stocks
Banking stocks lift Sensex, Nifty to new heights in July opening
D-Sreet closed on a positive note on Monday, with the S&P BSE Sensex gaining 443.46 points to settle at 79,476.19. The broader Nifty index also rose, adding 131.35 points to close at 24,141.95. The banking sector showed particular strength, with the banking gauge up by 0.44%. Tech Mahindra, Wipro, Bajaj Finance, Grasim Industries, and UltraTech Cement were among the top gainers, while NTPC, Eicher Motors, Apollo Hospitals Enterprise, SBI, and Dr. Reddy's Laboratories experienced declines. Market capitalisation of all the BSE listed companies increased by Rs 344,798 crore.
Inox Wind, CE Info Systems among 10 stocks that saw recent coverage by brokerages
In the last week, quite a few companies came on the radar of various brokerages, which initiated coverage on the same. Brokerages like Goldman Sachs, Bernstein, Nuvama initiated coverage on stocks like TBI Tek, CE Info Systems and PNB Housing Finance among others with upside potential of up to 34%. Below is the list of recent coverages:
Stock Radar: ICICI Bank hits fresh record high in June; should traders buy, sell, or hold at current levels?
ICICI Bank Ltd, part of the private banking sector, broke out from a 2-month consolidation range to achieve a fresh record high in June 2024. Short to medium-term traders are advised to consider buying the stock with a target above Rs 1,300 levels in the next few weeks, according to experts.
Nifty rides with bulls, can hit 24,600: Analysts
Stocks expected to show bullishness include Reliance, ICICI Bank, LIC Housing Finance, Grasim, Praj Industries, Biocon, Apollo Tyres, Tata Motors, and BEL. Consider a moderately bullish strategy using a Bull-Call Spread for the July 4 weekly expiry.
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Stocks in news: JSW Infra, Stanley Lifestyles, SAMHI Hotels, Bank Of Baroda, IREDA
Indicating that the company is still interested in the mega Tajpur deep sea port in West Bengal, JSW Infrastructure Ltd said that it remains open to re-evaluate its strategy for the project.
F&O Rollover: FIIs bullish on index in July series with net longs; what's in store for Nifty?
Nifty futures rollovers hit 76% at June series end, exceeding the previous three-series average of 69%. The July series kicks off with a higher open interest base of Rs 36,400 crore. Roll cost for Nifty settled at 40 bps on expiry day, down from the previous day's 52-54 bps.
Coal India, South Indian Bank among 17 deep value stock ideas from ICICI Securities
Domestic brokerage firm ICICI Securities has listed 17 stock ideas, categorizing them as deep value stocks, stating that the proportion of ‘investable value stocks within large-caps remained steady while the same has been diminishing to historical lows within mid and small-caps.
Stocks in news: HCL Tech, Polycab, SAMHI Hotels, Archean Chemical, Ambuja Cement
Sagar Cements re-appointed S Anand Reddy as Managing Director and S Sreekanth Reddy as Joint Managing Director of the company for a period of three 3 years.
F&O stocks to buy today: ICICI Bank, Biocon among top 6 trading ideas for 27 June 2024
Experts suggest buying opportunities in stocks like Indus Tower, ICICI Bank, Grasim Industries, and Kotak Mahindra Bank for short-term traders, as per recommendations on ETNow.
These 7 bank stocks can give more than 22% returns in one year
Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
Hot Stocks: Brokerage view on Stylam, Apollo Hospitals, ICICI Bank and Adani Wilmar
Investec's diversified coverage includes insights on Adani Wilmar, ICICI Bank, Apollo Hospitals, Stylam Industries, and Ratnaveer Precision Engineering, providing a comprehensive view of the market opportunities and risks.
TRADERS’ CORNER: Two AA, one AMC stock and auto ancillary stock breaking barriers for 6% short term momentum trade
Select momentum stocks are getting back with mojo
Stocks in news: MapmyIndia, YES Bank, Sanghi Industries, ZEE, Mahindra Finance
State-owned Punjab & Sind Bank has signed an initial agreement with the Indian Army on defence salary package which will come with a host of facilities, including free insurance cover.
YES Bank board to consider fundraising via debt
YES Bank intends to raise funds through the issuance of debt securities, potentially including non-convertible debentures (NCDs), bonds, or Medium Term Notes (MTNs). The bank's board approved this fundraising plan during a meeting on Tuesday, where they also finalized the draft notice for the annual general meeting scheduled for August 23rd. YES Bank's shares have surged 50% over the past year, significantly outperforming the Bank Nifty index, which gained 21% in the same period.
Nifty charts projecting 25,200 by December, says ICICI Securities. Top 94 stock picks
ICICI Securities' technical analysis forecasts Nifty reaching 25,200 by December 2024, supported strongly at 22,200. Midcaps and smallcaps indices are in a structural uptrend, expected to gain over 16% by year-end.
94 stock ideas across sectors with bullish stance by ICICI Direct Research
Since 1999, in election years, Nifty has gained median 21% post-election outcome lows, till end of the year and such moves occur with 4-6% intermediate corrections which would offer buying opportunity. Nifty continues on the path of CY30 target of 50,000, according to a report by ICICI Direct Research, and the Nifty CY24 target is projected at 25,200. With this outlook, the domestic brokerage firm emphasizes its bullish stance across sectors along with their top picks. These are listed below:
TRADERS’ CORNER: A private bank and the holding company getting ready for 4 to 6% upmove
Momentum coming back to select stock from different sectors.
Hot Stocks: Brokerage view on Bandhan Bank, HDFC Bank, Tech Mahindra and Amara Raja
Brokerage firms like Citigroup, JPMorgan, and Bernstein provide ratings on Tech Mahindra, Amara Raja Batteries, and HDFC Bank. ETNow and other sources collated the recommendations, including Citigroup's sell rating on Tech Mahindra with a raised target price.
Stocks in news: Happiest Minds, IREDA, Maruti Suzuki, RBL Bank, Shree Cement
India's third largest cement manufacturer Shree Cement announced achieving installed power capacity of 1,000 MW with the commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit.
Short-term headwind, long-term opportunities for investors: 4 small finance banks with upside potential of up to 35%
The increase in credit costs has been an issue which has been bothering banks, some more, some less. Even the chairman of India’s largest bank had to come out and give a statement regarding it. However the question arises when these headwinds which are periodic in nature and part of the business cycle hits any sector what should be done. Should one move out of the sector? Should one continue to stay invested or should one buy more of the stock of that sector. The answer is dependent on one simple factor which is how large is the opportunity which that sector has. If the answer is that the opportunity is very large, then probably, it is the second and third option which one may look at. Probably in case of small finance banks, which are today reeling under the pressure due to guidance by one bank fit the bill. These banks are no stranger to dealing with challenges since the time they were born. Challenges thrown by regulatory tightening and economic cycles.
Monday blues! Heavyweights drag Sensex 400 points lower; Nifty below 23,400
The weakness was led by selling pressure in banks and metal stocks, while FMCG and consumer durables saw some buying amid sectoral rotation. IndusInd Bank fell around 3% and was the top loser in the Nifty pack, followed by 2% plus declines in Cipla, Tata Steel, and Adani Ports. On the other hand, defensives from pharma, FMCG, and IT - Sun Pharma, ITC, Nestle, TCS, and HUL - saw buying action.
Can private bank stocks lead from the front now?
Bank Nifty reached a new high of 51,957 due to improved operational efficiencies, implementation of the Insolvency and Bankruptcy Code, and cautious lending practices by PSU banks. This sparked a rally in share prices, shifting the spotlight from private banks.
Europe's STOXX 600 falls as tech, banks drag
European shares fell on Friday, with Carlsberg Group dropping 8% after Britvic rejected its $3.9 billion takeover bid, causing a 0.3% decline in the STOXX 600.
Stocks in news: YES Bank, Aster DM Healthcare, ONGC, IndiGo, Bank of Baroda
Equity indices soar with YES Bank's fundraising. IndiGo partners with Garuda for pilot training. Olympus Capital Asia to sell 5% of Aster DM Healthcare. ONGC appoints Devendra Kumar as CFO. Bank of Baroda appoints Chayani Manoj sundar as CFO.
Asian stocks hold on to gains; BoE in focus
Asian stocks paused near two-year highs as traders awaited U.S. policy clues. Sterling steadied ahead of a Bank of England meeting with unchanged rates expected. Central bank decisions from Switzerland and Norway will set the global rates tone.
F&O stocks: IDFC First Bank, Aditya Birla Capital among 5 stocks with long buildup
Bulls likely to dominate with fresh long positions on United Spirits, Cholamandalam Investment, Laurus Labs, IDFC First Bank, and Aditya Birla Capital as stock prices and open interest increase.
ICICI Bank, Biocon among 5 stocks with long buildup
A long buildup occurs when there is an increase in open interest and trading volumes alongside a rise in the price of the underlying stock in the Futures and Options segment, indicating a bullish trend in the market. In Wednesday's trading session, five stocks experienced a buildup of fresh long positions. Here's the list:
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