Page 39 - Axis Securities News Today

The market outlook for the near term is uncertain and experts recommend buying technically and fundamentally sound stocks at the current juncture.

Max Healthcare Institute, NHPC, Bharat Forge, Hindustan Petroleum Corporation, Gland Pharma, Emami, Exide Industries, R R Kabel, Bajaj Electricals, Bikaji Foods International, Sun Pharma Advanced Research, Sobha Ltd, Ujjivan Financial Services, Quess Corp, Fusion MicroFinance, Gateway Distriparks, Heidelberg Cement, Va Tech Wabag, and Paras Defence and Space Technologies are among the other major companies releasing results on Monday.

Any drop in the interest rates means that more money will flow into EMs and India will be the biggest beneficiary, say market experts.

An analysis of shareholding patterns of BSE-listed companies shows that LIC dumped at least 84 stocks like Tata Motors, Reliance Industries (RIL), Dr. Reddys Laboratories, TVS Motor, Dixon, ONGC, Reliance Power and Tata Elxsi.

The recent sharp correction in the market after a period of high returns seems a healthy adjustment. Sectors like capital goods, healthcare, auto and hospitality look attractive at these levels, says Master

MCX December gold futures were trading at Rs 60,866 per 10 gram, up by Rs 81 or 0.13% from the Wednesdays closing price. Meanwhile, the December Silver futures were trading at Rs 71,826 per kg, higher by Rs 528 or 0.74%.

Tata Steel's Q2 Ebitda per tonne for Indian operations may improve 3 per cent QoQ to Rs 14,450 per tonne on account of lower coking coal costs, partially offset by lower realizations, expects Axis.

As per analysts, the overall trend in Bank Nifty is expected to be choppy, and it requires stability above 42,750 for a move towards 43,250 and 43,500 zones. The downside support is noted at 42,750, further at 42,500 levels

The US Federal Reserve is expected to keep benchmark interest rates unchanged on Wednesday, which is unlikely to have a significant impact on the domestic equity market.

HCL Tech breached its key resistance level of Rs 1,200 in early September and hit Rs 1, 311 on the weekly chart. After successfully retesting the breakout level, the stock rebounded strongly.