Latest News
-
Closing Bell: Market Rebounds To End With Gains For 5th Straight Day; Sensex & Nifty Soar Led By Banks -
Gold Prices Ayodhya: In Ram-Janma-Bhumi, 24carat Falls By Rs 380 In 10-Grams, Drops By Rs 3,800 In 100-gram -
Penny Stock Hits 2nd Upper Circuit After Declaring Earnings, Gains 14% In 1-Week -
Rs 8.50/Share Dividend Recommended: Nestle India Reports 27% YoY Jump In Profit -
0.50% Dividend Yield: Midcap Cement Stock Slumps 10% Following Weak Q4 Results; Profit Down 48% YoY -
1:10 Split, Rs 147/Share Dividend: FMCG Major Likely To Report Profit Growth; Buy Or Sell? -
Mark Zuckerberg's Meta Reports Record Q1 Profit Surge, Projects AI Investments This Year; Stock Slumps -
Gold Prices India: 24K/100 Grams Yellow Metal Falls By Rs 3800, 24K/10 Grams Down By Rs 380 -
Rs 44,000 Crore M-Cap Lost, Stock Falls 10%, No More 4th Largest Bank; How RBI's Ban Rocked Kotak -
Mukesh Ambani Led JioCinema Slashes Premium Subscription Prices; IPL Live Stream Remains Free
Markets To Consolidate Next Week
Benchmark indices ended the week higher again, thanks to the spectacular rally seen on Monday. The Nifty ended the week with the best weekly gain in four months.
Private sector banks like ICICI Bank, IndusInd Bank and NBFC players like Bajaj Finerv saw spectacular gains.
The markets did relatively better with the exception of select stocks like Yes Bank, IndiaBulls Housing, Indian Bulls Real Estate ending the day lower.
Stocks in the news
There were several stocks that also came under selling pressure this week. Among these included names like Lakshmi Vilas Bank, where there were reports tat the Economic Offences Wing has registered FIR for offences of cheating, criminal breach of trust by banker, criminal misappropriation and criminal conspiracy upon the Directors of the Board.
Shares in Strides Pharma Science hit a 52-week low of Rs 305, falling almost 8 percent on Friday, after the company suspended sales of ranitidine tablets in the US market. Zee Entertainment on the other hand hit a new 52-week low as mutual funds were reported to have sold the promoters pledged shares.
Yes Bank too had a bad week, with the shares hitting a new 52-week low in trade. Among the stocks that saw a good rally this week was Hindustan Zinc, where there were hopes of the government selling its stake in the company.
Global cues key
Global cues would remain key to market momentum, particularly news to the enquiry on impeachment of US President Donald Trump as also trade tensions over US and China. It is also a truncated week for India, given that the markets would remain closed on Oct 2 on account of Gandhi Jayanthi. Expect a little less instability in the coming days and more of consolidation. Much would also depend on the fact whether FPIs lend some support to the markets going forward.
