Page 32 - Persistent Systems News Today

As per the numbers shared during the Q2 FY 2023-24 results, the 10 largest companies saw their workforce fall to 20.6 lakh people at the end of September from 21.1 lakh employees at the beginning of the fiscal year, resulting in a loss of 51,744 jobs.

Crucial support for the Nifty50 is expected to remain at 18,800, the low of the last week, as beyond this point, it may slide down to 18,600-18,500. On the higher side, the immediate hurdle will be at 19,200-19,300, followed by 19,500

The maximum Put OI is placed at 19000 and then towards 18800 strikes. Call writing is seen at 19200 and then towards 19500 strikes while Put writing is seen at 19000 and then towards 18900 strikes.

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe.

Axis Securities suggests that if Nifty crosses and sustains above the 19,200 level, it could witness buying, propelling the index towards 19,300-19,400 levels; if it breaks below 18,900 level, it could witness selling, pushing it towards 18,750-18,600.

The July-September quarter results of software companies in the engineering research and development (ER&D) segment were broadly in line with expectations, though there have been cuts in revenue growth guidance. While results were a mixed bag, and there are cautionary views on the near-term outlook, brokerages and global consulting firms highlight the strong growth trajectory for the sector. They expect this segment of the software sector to grow by 8-12 per cent going forward.

The Sensex and the Nifty, which closed a percent higher on October 27, ended the week 2.5 percent lower amid relentless selling. For the Nifty, immediate resistance is at 19,200-19,300 and support at 18,800, say experts

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On Friday, Nifty 50 closed 190 points, or 1.01 per cent, higher at 19,047.25 while the Sensex closed at 63,782.80, up 635 points, or 1.01 per cent.

In a day marked by diverse market movements, several major stocks reached new 52-week highs on October 27, demonstrating their resilience and growth potential.