Stock Market Live Updates: Volatility looms as Asian markets navigate uncertain conditions

Sectoral Outlook: Technical Analysis: What is the outlook for IT Sector?

he downtrend in the BSE Information Technology (IT) index that was in place since January 2022 has come to an end. The gradual rise in the index since May this year indicates a trend reversal. Also, the strong breakout and a close above 32,000 last week marks the end of the prolonged sideways consolidation that was in place since May last year. It also confirms the trend reversal and indicates that a new leg of upmove has begun. The BSE IT is currently at 32,697.84, up 14 per cent so far this year. Read more

Technical Analysis: Index Outlook: Nifty 50, Sensex: Heading to new highs

Nifty 50 and Sensex witnessed a strong rise last week. The benchmark indices have risen about 1.9 per cent each last week. The Nifty Bank index has also risen breaking above the key 45,000-mark last week. As we have been mentioning over the last couple of weeks, the corrective fall in the benchmark indices have come to an end and a new leg of rise has begun. So, the broader uptrend is intact and more rise is on the cards, going forward. Read more

Technical strategy: Consider buying ONGC 185-call

The outlook for Oil and Natural Gas (ONGC) has turned positive. The bullish outlook will not change as long as the stock rules above ₹155. Immediate support is at ₹175 and the next one is at ₹167.50. ONGC finds an immediate resistance at ₹197.30 and the crucial one at ₹239. Read more

Sectoral Insights: Sun Pharma, Zydus, Cipla, Torrent Pharma, Dr. Reddy’s: How Indian pharma is gearing up for M&A

Torrent Pharma and Dr.Reddy’s eyeing promoter stake in Cipla might just be the start of an acquisition spree in the pharma space. We believe Indian Pharma may now flex its financial muscle for both big and small deals, with sectoral sentiments on a high, balance sheets strong and all business segments gathering momentum. Read more

IPO recommendations: EMS IPO: What should you do?

The IPO of EMS opened on September 8, and closes on September 12. The issue size is around ₹321 crore with ₹146 crore as fresh issue and remaining offer for sale (OFS). The proceeds from the fresh issue will be utilised to fund the company’s working capital requirements. Read more:

Stock Recommendations: Tata Power: Why investors can hold this stock

The Indian power sector has been seeing good momentum, such as all-time high peak power demand and the power ministry inviting bids of about 50 GW to develop installed renewable energy capacity annually for the next five years — to achieve the 500 GW non-fossil fuel target. Tata Power, being an integrated power utility company with renewable-based plans, appears to be a beneficiary here. Read more

Technical Call: Gujarat Ambuja Exports- BUY

The long-term outlook is bullish for the stock of Gujarat Ambuja Exports (₹285.85). The stock has been in a strong downtrend since April 2022. However, since December last year, the stock has been broadly consolidating between ₹220 and ₹300. Read more

Stock insight: Vodafone Idea: Here is why investors can sell the stock amidst fund raising buzz

Vodafone Idea: Hope springs eternal, inexplicable as it may be, when it comes to stocks trading in single digits! As of June FY19, individual shareholders (category that includes retail investors) held around 60 crore shares in Vodafone Idea (Vi), representing a 2.09 per cent stake in the company. Read more

Commodities Markets Live Today: Brent crude dips below $90 amid China growth worries and stronger USD

Oil prices dipped in Asian trading due to concerns about China’s economic growth affecting fuel demand. Brent crude dropped 0.5% to $90.16 per barrel, while U.S. West Texas Intermediate crude fell 0.9% to $86.77 per barrel. A stronger USD further dampened investor interest. However, prices had recently risen after Saudi Arabia and Russia extended supply cuts. Analysts anticipate oil market reports from the IEA and OPEC this week to influence prices. Despite a slight increase in U.S. oil rigs, overall counts remained well below the previous year’s level.

Stock Market Live Today: Asian markets open cautiously amid hawkish yen and mixed performance

Asian markets opened cautiously with a mix of performance, while the yen gained strength due to potentially hawkish comments from the Bank of Japan governor.

Stocks in South Korea and Japan’s Topix index saw gains. Hong Kong’s equity futures remained unchanged, with the market set to reopen after a closure due to heavy rainstorms on Friday.

At 6.40 am, Japan’s Topix Index showed a marginal increase of 0.12% at 2,361.99 points, while the Nikkei Index dropped 0.30% to 32,509.79. South Korea’s Kospi index traded with slight weakness at 2,544.97 points.

Market sentiment is fragile, as evidenced by the Nasdaq’s 2% decline last week and more than 1% drops in the S&P 500, MSCI World, and MSCI Asia ex-Japan Index. Concerns about rising bond yields, a strong U.S. dollar, and uncertainty surrounding the Federal Reserve’s rate hikes are contributing to the volatility, typical for this historically turbulent month in the stock market.