GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Tuesday. Here’s a look at the key stocks to watch in trade.
GIFT Nifty ended down by 29 points or 0.12% at 24,092.50 indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday the NSE Nifty 50 ended down by 309 points or 1.27% to settle at 23,995.35 while the BSE Sensex plunged 941.88 points or 1.18% to 78,782.24.
“Markets began the week on a negative note, shedding approximately 1.3%, extending the ongoing downward trend. Persistent foreign fund outflows, coupled with caution surrounding the upcoming U.S. elections, weighed on sentiment. Following an initial dip, Nifty sustained a bearish tone through the first half; however, a recovery in select heavyweights helped pare some losses, ultimately closing below the 24,000 level. All major sectors moved in line with the benchmark, with realty, energy, and metal among the top losers. Broader indices also felt pressure, falling between 1.2% and 2%,” said Ajit Mishra – SVP, Research, Religare Broking.
Also Read Stocks To Watch: Adani Power, Bharti Airtel, IOC, Macrotech Developers, Star Health Insurance, Federal Bank, NBCC, JSW Infrastructure, Gillette India Stocks To Watch: Maruti Suzuki, Reliance Industries, Marico, Voltas, SBI Cards, HUDCO, Adani Enterprises, Larsen & Toubro Stocks To Watch: ICICI Bank, Cola India, CDSL, Axis Bank, InterGlobe Aviation, Avenue Supermarts, Waaree Energies, Bharti Airtel, Adani Power Stocks To Watch: HUL, Piramal Pharma, SBI, Infosys, Aviation Stocks, Adani Power, Sona BLW, AU Small Finance Bank, ITC, GMR Airports Infra
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Mishra also added that the breakdown of Nifty’s recent consolidation range of 24,000–24,500, along with a noticeable increase in the volatility index (India VIX), reflects growing pessimism among participants. Should Nifty sustain levels below 24,000, it may move toward the next significant support, the 200-day Exponential Moving Average (DEMA) around 23,500. Traders are advised to adjust positions accordingly, prioritizing risk management amid the expected rise in volatility.
Stocks to Watch on November 5, 2024
ABB India
The electrification and automation company reported a 21.4% year-on-year (YoY) increase in net profit to Rs 440.5 crore for the third quarter ended September 30,
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