look news india
The biggest positive news for the Indian stock market today is the continued strong liquidity of domestic institutional investors (DIIs) and retail investors through mutual fund SIPs. Despite global uncertainties and selling by foreign institutional investors (FIIs), domestic mutual funds and insurance companies are providing strong support to the lower levels by continuously buying in the market. Return of ‘Value Buying’ in Banking, Auto and select FMCG sectors is helping in keeping Nifty and Sensex at key support levels.
On the other hand, the biggest ‘bad news’ putting pressure on the market is the rise in crude oil prices in the international market and the strengthening of US bond yield and dollar index. The risk of inflation has deepened again due to the rise in Brent crude due to geopolitical tensions and supply concerns in the Middle East. Due to the cost of crude oil, the pressure on the Indian rupee is increasing and the possibility of direct negative impact on the margins of paint, tyre, aviation and specialty chemical companies has increased.
Amid mixed global and domestic cues, these 20 stocks may see big movement today on the back of corporate announcements, block deals and sector-specific news:
1. Reliance Industries: Heavyweight shares will remain in focus due to updates related to new energy projects and retail expansion.
2. Tata Consultancy Services (TCS): The market will keep an eye on new contracts regarding global tech spending and cloud deals.
3. HDFC Bank: Data on deposit growth and improvement in credit-deposit ratio will give direction to the banking index.
4. State Bank of India (SBI): The PSU is on the radar due to continued strong credit demand and value buying in the banking space.
5. Maruti Suzuki: The impact of news of production and supply chain expansion will be visible before the upcoming festive season.
6. Tata Motors: The commercial vehicle and electric vehicle (EV) segments will be in action on the back of new orders and international sales.
7. Infosys: Investors’ focus remains on generative AI partnerships and large deal pipeline in the IT sector.
8. Bharti Airtel: The stock looks strong on expectations of a possible improvement in average revenue per user (ARPU) after the 5G rollout.
9. ICICI Bank: It remains the top pick among private banks on the basis of strong retail loan growth and asset quality.
10. Larsen & Toubro (L&T): The infrastructure and defense sector may remain in momentum due to receipt of new orders at domestic and international level.
11. Coal India: Dividend yield is in focus due to uninterrupted supply of coal to power plants and high e-auction premium.
12. Sun Pharma: US FDA approval of new specialty drugs and growth in formulation business are expected to strengthen the stock.
13. Hindustan Unilever (HUL): The FMCG giant will be under watch amid improvement in rural demand and volatility in raw material prices.
14. Bharat Electronics Limited (BEL): Defense stock is on the radar due to the possibility of getting orders for new radars and electronic warfare systems from the Defense Ministry.
15. Tata Power: The stock may see a volume breakout from rooftop solar and renewable energy capacity expansion plans.
16. InterGlobe Aviation / IndiGo: Aviation stocks may see pressure and volume movement due to rise in crude oil (ATF) prices.
17. Vedanta: There will be movement in the stock due to dividend and debt reduction updates amid demerger plans and recovery in metal prices.
18. NTPC: PSUs remain attractive in the energy basket due to the expansion of green energy subsidiaries and continuously increasing power consumption.
19. Bajaj Finance: The uptick in consumer lending and EMI card volumes ahead of the festive season will lead the NBFC sector.
20. Zomato/Eternal Ltd: Due to the expansion of quick-commerce platform ‘BlinkIt’ and festive demand, this counter in new-age tech stocks will be in the focus of investors.
In today’s business, while on one hand there is support of fund inflow in selected sectors, on the other hand inflation of crude oil and strength of dollar can bring profit booking at upper levels. Traders are advised to adhere to strict stop-loss on any position and remain focused on stock-specific action rather than index action.
(Disclaimer: This analysis is presented for informational and educational purposes only. Please consult your certified financial advisor before making any buying or selling in the stock market.)