Markets saw volatility as China's government assured more stimulus-relief measures, including a big hike in borrowing, amid weak Chinese import-export figures and market demand for more stimulus.Corporate India's quarterly Indian stock markets faced a sell-off in stocks by Foreign Portfolio Investors (FPIs). The results season started now with Wipro again announcing bonus share consideration and Reliance Industries' results, with funds trailing IT, banking-finance, capital goods-power, consumer durables stocks. Asian stocks rose after another strong performance on Wall Street. was Oil prices fell as concerns about Israel attacking Iranian energy facilities eased.
The Sensex closed down 152 points at 81820 points, while the Nifty future index closed down 103 points at 25118 points, while the Bank Nifty future index closed at 52106 points with a jump of 64 points.
Retail inflation rose to 5.49% in September, 2024 due to weather conditions and high bays effect. It may be mentioned that the retail inflation in August, 2024 was 3.65%. While retail inflation was 3.54% in July, 2024. According to data released by the government, the Consumer Food Price Index (CFPI) stood at 9.24% year-on-year. Food inflation in rural areas has been 9.08% while in urban areas food inflation has been 9.56%. RBI has been entrusted with the responsibility of keeping retail inflation at 4 percent with a fluctuation band of 2 percent. The Reserve Bank did not change key interest rates in its monetary policy review last week in view of inflation. According to the figures released by the government, wholesale price-based inflation has increased to 1.84% in September as food items, including vegetables, became more expensive. Wholesale price index (WPI)-based inflation was 1.31% in August. According to the figures released by the government, wholesale price-based inflation has increased to 1.84% in September as food items, including vegetables, became more expensive. Wholesale price index (WPI)-based inflation was 1.31% in August.
Top gainers in today's trade include stocks like HDFC AMC, Asian Paints, DVS Lab, Indigo, Lupine, Muthoot Finance, Bata India, Adani Ports, Mahanagar Gas, HCL Technology. Today's top losers include Mahindra & Mahindra, Icer Motors, Titan Company. Stocks like Hindustan Unilever, Tech Mahindra, Tata Communication, Larsen, TCS, Reliance, Grasim, Kotak Mahindra Bank, Infosys, Havells, ACC, Torrent Pharma have declined. Out of a total of 4068 scrips traded in BSE, the number of decliners was 1894 and the number of gainers was 2068, 102 stocks saw no change in price. While 03 stocks had only seller's bearish lower circuit, 11 stocks had only buyer's bullish upper circuit.
Nifty Future Technical Levels NIFTY FUTURE CLOSE :- ( 25118 ) :- On the next move Nifty Future is likely to touch 25008 points to 24979 points, 24880 points, 25008 points to 24979 points, 24880 points in terms of first and crucial strong stoploss of 25404 points at 25373 points. .
Bank Nifty Future Technical Levels Bank Nifty Future Close :- ( 52106 ) :- The next swing is likely to see Bank Nifty Future touch the crucial level of 51808 points first and 51676 points from 52188 points to 52303 points, 52373 points very important level around 51808 points cautiously. Creating a position…!! Specific technical level regarding future stock Balakrishna Industries (3022) :- The share price of this leading company of Balakrishna Group is currently trading around Rs.2970. Buyable with a stoploss of Rs.2930, this stock is likely to register a price of Rs.3074 to Rs.3097 in a short period of time…!! Bullish focus on Rs.3108…!! Reliance Industries ( 2700 ):- Positive breakout around Rs.2647 as per technical chart…!! This buyable stock with support of Rs.2626 is likely to register price of Rs.2737 to Rs.2750…!! TVS Motors ( 2838 ) :- According to the technical chart, this stock of 2/3 vehicles sector has the possibility of a target price of Rs.2808 to Rs.2780 through profitable selling around Rs.2880. Consider a trading stoploss of Rs.2909..!! Hindustan Unilever ( 2795 ):- This stock is sellable with a stoploss of Rs.2850 registering an overbought position around Rs.2844..!! It is likely to show the price of Rs.2770 to Rs.2744 in phases…!! Take a bullish look above Rs.2868…!!
Future direction of the market… Friends, amid global geopolitical tensions, speculations of Israel retaliating against Iran's missile attack at any moment, and reports of the war moving toward a ceasefire with Hezbollah's plea for a ceasefire with Israel, and reports that Iran also has nuclear bomb capabilities, and as a result, both countries Meanwhile, there is no possibility of a nuclear war, with crude oil prices collapsing in the global markets, recovery was seen in the stock markets. But China's markets have bounced back amid expectations of a decision over the weekend amid calls for a more mega stimulus package following China's recent easing-stimulus package. If China announces a mega package, the sell-off by Foreign Portfolio Investors (FPIs), who are currently bullish on Indian stock markets, is likely to become more aggressive. On the other hand, the market is trying to stabilize due to continuous buying by local funds-local institutional investors, but investors are cautious about new big purchases. Sensex and Nifty are likely to witness a ruckus in the coming days on geopolitical developments, China's potential package and corporate results.
The author is a SEBI registered research analyst and proprietor of Investment Point.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
