Plugin

Advertisement

Rewind – Upstox | Jobs Vox

[ad_1]

Nifty50: 18,420 151 (+0.8%)
Sensex: 61,806 468 (+0.7%)


Namaste, friends!

In the nail-biting World Cup final, football’s messiah and Argentina achieved their dream of becoming world champions again after 36 years! Much to the delight of soccer fans, the bullish markets bounced back after the loss.


  • Like its Asian peers, the Indian market posted healthy gains.
  • Of the Nifty 50, 42 stocks ended in the green.
  • This week, traders will be watching closely to see if today’s rally has the wings to break the recent highs or if there is a short-term bearish trend.

Among the Nifty sector indices, Auto (+1.5%) and FMCG (+1.4%) were the top gainers, while IT (-0.5%) and PSU Bank (-0.1%) were the top losers.

Top winners Today’s change
Adani ports 895 ▲ 34 (+4.0%)
Adani Enterprises 4,101 ▲ 120 (+3.0%)
M&M 1,289 ▲ 37 (+2.9%)
Big losers Today’s change
TCS 3,205 ▼ 35 (-1.0%)
ONGC 145 ▼ 1.2 (-0.8%)
Tata Motors 418 ▼ 3.5 (-0.8%)

What’s trending.


IT stocks get a bump after Accenture’s results

TCS (NSE): 3,205 ▼ 35 (-1.0%)INFY(NSE): 1,510 ▼ 12 (-0.8%)

Indian IT stocks saw selling pressure despite bearish sentiment on the streets today. Global IT major, Accenture recently announced its quarterly results and said it expects revenue growth of 8-11 percent for 2023. It should be noted that 2022 revenue growth was 26 percent. The relatively low growth rate indicated a softening of demand for IT services in 2023. Accenture’s results and guidance notes that revenue expectations for Indian IT companies are expected. (The accent follows the September-August financial year.)

⭐ PSU insurance stocks will fly

GICRE (NSE): 185 ▲ 18 (+11%)Nyackel (NSE): 133 ▲ 10 (+8.4%)

PSU stocks continue to shine! However, this time PSUs are not banks, but state-owned insurers. GICRE and NIACL were around 10% today and have gained over 22% so far this month.

Earlier this month, the finance ministry proposed a single license for all types of insurance businesses – general, life and health. It was also suggested that insurance companies should be allowed to distribute other financial products such as mutual funds. This can open up new business prospects for these insurance companies.

⭐ Airtel and Jio add subscribers

BHARTIARTL (NSE): 839 ▲ 16 (+1.9%)Confidence (NSE): 2,603 ▲ 37 (+1.4%)

Leading telecom stocks were in focus today. According to TRAI, Airtel and Reliance Jio added 14 lakh and 8 lakh users respectively in October. Meanwhile, Vodafone Idea lost 35 lakh subscribers during this period. Reliance Jio continues to lead with 36.8% market share.

KEC International confirms new order

KEC (NSE): 477 0.4 (-0.08%)

KEC International, an RPG group company, has bagged several orders worth Rs 1,313 crore. The distribution and distribution arm of the company has acquired as many as three separate mandates in India, Thailand and Nepal. Additionally, it has secured a large order for a 500 MW solar power project in India. With these orders, KEC’s overall year-to-date order stands 14,500 crore, a 20% jump from last year.


With attention


The sugar concentration is sweet

Shares of major sugar producers such as Shree Renuka Sugar, Dampur Sugar and Dwarikesh Sugar have seen strong investor interest and are up 5-11% today. This is after the GST on ethyl alcohol was reduced from 18% to 5%. Wondering what the relationship is between sugar and ethyl alcohol? Let’s find out!

Ethyl alcohol or ethanol is a byproduct of sugar production. Sugar companies sell ethanol to fuel marketing companies, where it is blended with gasoline. While the GST cut will not directly increase the profits of sugar companies, it will emotionally strengthen the government’s positive stance in favor of greater integration.

To reduce India’s dependence on imported crude oil, the government plans to have 20% ethanol blended in petrol by 2025.

The sugar sector is seeing more tailwinds. Next month, the government is expected to consider extending the sugar export quota. If this becomes a reality, it will not only lead to export-led growth for sugar producers, but will also keep sugar prices healthy in the domestic market.

Finally, international sugar prices have risen by about 13 percent so far in the December quarter. This makes sugar export more profitable.

These are some of the factors that are attracting investors’ attention to the sugar sector as a whole.


Powerful shopping made easy!

Markets often see price movements triggered by positive news or technical patterns. In such Conditions, you may want to double down on certain high delinquency trades. However, limited capital can be a barrier to taking advantage of these opportunities. With Margin Trading Facility (MTF) on Upstox you can increase your trading capacity instantly. Click over here To learn more about MTF.

Advantages of MTF:

🔹Get 2X leverage on equity delivery orders

🔹Applies to 375+ NSE stocks

🔹Lend up to 25,00,000 Birr at a time

🔹Hold shares purchased through MTF for up to 365 days.


It’s good to know

What is an export quota?

An export quota is a government-imposed limit on the amount or value of goods that can be exported during a certain period of time. The purpose of quotas is to facilitate domestic supply and prevent prices from spiraling out of control. However, sometimes export quotas limit the growth opportunities available to domestic producers.

Click over here Join us on Telegram for business and investment related videos, daily market updates, details on upcoming IPOs and more.

Don’t miss a trading opportunity with the Margin Trading Facility

Enjoy 2X leverage on over 370+ stocks

Images

[ad_2]

Source link

Implement tags. Simulate a mobile device using Chrome Dev Tools Device Mode. Scroll page to activate.

x