Market Morning Notes For 8th September 2022
Markets remained ranged bound on Wednesday with the Nifty opening lower but recovered during later half of the trading session to close above 17600. The breadth of the market remained highly positive despite the Nifty facing resistance at 17650 in yesterday’s trade. The dull trading activity in the Nifty 50 index is seen as a sign of accumulation and we expect the Nifty to see a sharp...
Market Morning Notes For 7th September 2022
Markets remained more or less unchanged after the initial up move failed to cross the previous week’s high of 17,764 while Bank Nifty ended in negative terrain after crossing the 40,000 mark. The key trigger to watch out for would be the ECB policy meet tomorrow where the expectation of a Jumbo rate hike of 75 bps has been built in due to hyperinflation in Eurozone. For the Indian...
Indian Economy Beats U.K. To Become The 5th Largest In The World
India has now managed to dethrone the U.K. and claim the position of the 5th largest economy in the world. For decades we have been reciting the line ‘India is a developing country’ with an abstract idea that there would be a shift in this status someday. The recent improvements prove that India is successfully working towards changing this narrative. The nation’s rapid attempt to...
Market Morning Notes For 6th September 2022
Markets ended higher on Monday on the back of broad-based buying with Bank Nifty surpassing its August highs of 39,759 and activating a major breakout. The breakout in Bank Nifty may act as a catalyst for Nifty crossing its all-time high in the current week with major short covering expected in the Nifty 50 Index above 17,777. On an immediate basis, the Target for Bank Nifty is placed at...
Tamilnad Mercantile Bank (TMB) IPO Analysis
Tamilnad Mercantile Bank Ltd. (Subscribe) Issue Size – 15,840,000 sharesIssue Open/Close – Sept 05/Sept 07, 2022Price Band (Rs.) 500 – 525Issue Size- Rs 8316 mnFace Value (Rs.) 10Lot Size (shares) 28 Tamilnad Mercantile Bank (“TMB”) was incorporated on May 11, 1921. TMB, headquartered in Thoothukudi (Tamil Nadu, India), is one of the oldest and leading old private sector banks in...
Weekly Market Report For 29th Aug To 2nd Sept
Markets extend flat in a volatile week; FII flows and global cues dictate the trend. Market Wrap Markets ended flatly in the highly volatile week as global growth concerns weighed on investor sentiment. Besides, weaker-than-expected domestic Q1FY23 GDP data and a marginal downtick in Manufacturing PMI for August worried investors. India’s gross domestic product (GDP) rose 13.5% YoY...
Market Morning Notes For 5th September 2022
Markets ended on a flat note for the week despite jitters in the global market with Sensex forming the ‘Bullish Piercing line’ on a weekly basis while SGX Nifty futures put up a ‘Rising three methods’ setup on a daily scale. With broader indices like BSE 100 posting weekly closing above the weekly breakout line, we expect next week’s up move to turn more broad-based with Nifty 50...
Market Morning Notes For 2nd September 2022
Markets remained under pressure on Thursday on the back of weak global cues with the Nifty settling lower by more than 1% while broader markets and Bank Nifty outperformed by a wide margin. Thursday’s closing was well above the September series VWAP of 17524 which is a positive sign for markets and with sharp fall in Brent crude prices below USD 94 a bbl may provide a necessary booster...