#A3RT ``TRUST & TRADE`` With @arbindtiwariT
Thursday, August 24, 2023
Wednesday, August 23, 2023
#A3RT
The benchmark indices have staged a smart recovery from the day's low on August 22, with Nifty50 index making a strong effort to hold above the 19,400 level.The major indices were trading near the high of the day.
About 1,968 shares advanced, 1,054 shares declined, and 121 shares traded unchanged till noon.
The Nifty Midcap index maintained its dream run and crossed the 38,700 mark for the first time. The Nifty Midcap 100 has now gained over 32 percent from its March lows.
"Lot of institutional and retail money is chasing mid and small caps. But valuations of these segments are becoming a bit concerning. Investors have to be careful while chasing low-priced stocks in the broader market,"
In the midcap space, CG Consumer and GMR Airports were among the top gainers, up over 4 percent and 3 percent, respectively.
Crompton Greaves Consumer Electricals extended gains for the third session after recent investor meetings and the announcement of Crompton 2.0 strategy has led to positive ratings from brokerage houses. CLSA has upgraded the stock to a 'buy' with a target price of Rs 365.
GMR Airports sees an increased investor interest following a sharp rise in passenger traffic. India's domestic air passenger traffic volume surged 25 percent on-year to 1.21 crore in July, according to DGCA data.
@arbindtiwariT
Tuesday, August 22, 2023
#A3RT
The Nifty Bank index has considerably underperformed the Nifty50 index over the past one month. The benchmark Nifty Bank index lost 4.20 percent of its value – 1,929.80 points – over the past 30 days and currently trades at 43,993.24 points in comparison of the Nifty50 index which has remained flat over the same duration.
The Bank Nifty’s top five stocks as on August 22 are HDFC Bank (28.42 percent weightage), ICICI Bank (24.04 percent), Kotak Bank (9.40 percent), Axis Bank (9.35 percent) and State Bank of India (9.89 percent).
A look at the returns of these stocks shows that the primary reason for the underperformance of the Nifty Bank index is the significant fall in HDFC Bank and Kotak Bank – the worst performers over the past month.
The two banks have a combined weightage of 37.82 percent in the index. HDFC Bank lost 5.78 percent over one month and Kotak Bank lost 7.24 percent over the same duration. State Bank of India, ICICI Bank and Axis Bank also contributed by losing 8.01 percent, 4.23 percent and 1.39 percent, respectively.
Arbind Tiwari
Monday, August 21, 2023
Friday, August 18, 2023
Thursday, August 17, 2023
#A3RT
"The Index Maintenance Sub-Committee (Equity) has decided to make the replacement of stocks in various indices. These changes shall become effective from September 29, 2023 (close of September 28, 2023)," the National Stock Exchange said in its circular.
Punjab National Bank, Shriram Finance, Trent, TVS Motor Company, and Zydus Lifesciences are going to replace ACC, FSN E-Commerce Ventures, HDFC Asset Management Company, Indus Towers, and Page Industries in the Nifty Next 50.
Allcargo Logistics, Alok Industries, Gillette India, and Glenmark Life Sciences will be included in the Nifty 500, while BASF India, Garware Technical Fibres, Godrej Agrovet, and Greenpanel Industries will be removed from the same index.
In Nifty MidSmall Financial Services, Punjab National Bank and Shriram Finance will be excluded, while HDFC Asset Management Company and IIFL Finance will be included in the index.
Also, no changes are being made in Nifty Auto, Nifty Bank, Nifty Consumer Durables, Nifty Financial Services, Nifty Financial Services 25/50, Nifty Financial Services Ex-Bank, Nifty FMCG, Nifty Healthcare, Nifty IT, Nifty Metal, Nifty Oil & Gas, Nifty Pharma, Nifty Private Bank and Nifty PSU Bank indices.
NSE Indices also revised the eligibility criteria for several sectoral indices, including Nifty Auto, Nifty Bank, Nifty IT, Nifty FMCG and Nifty Pharma.
@arbindtiwariT
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