Page 68 - Technical Research News Today

Wipro was the biggest loser among Sensex firms, sliding 2.32 per cent

Share market analysts at different brokerages have assigned Buy calls on ITC, Karnataka Bank, Tata Steel and Jubiliant Foodworks. Check share price targets, investment rationale, technical analysis and more crucial details.

Tata Consumer Products Ltd (TCPL) has emerged as the frontrunner to acquire Capital Foods Pvt Ltd, the maker of condiments, food products and ingredients under the Chings Secret and Smith & Jones brands, ending weeks of protracted negotiations, said people with knowledge of the matter.

Continued selling by foreign institutional investors (FII) and elevated crude oil prices remained a concern. Weakness in global markets also hit the mood back on Dalal Street

Going ahead, if the counter fails to exhibit a smart rebound, the price action may dwindle towards Rs 2,288, its 200-SMA. Immediate hurdle comes to Rs 2,477(50 SMA), which must be leaped over to reclaim the losing bias.

Stocks that were in focus included names like HAL, which rose 0.99%, Indian Overseas Bank, which gained 14.30%, and Raymond, whose shares declined 4.94% on Monday.

The stock rose from Rs 1275 as on 14 August 2023 to Rs 1431 recorded on 15 September 2023 which translates into an upside of over 15% in a month. The stock hit a fresh 52-week high of Rs 1466 on 11 September 2023.

Stock Market Holiday: On September 15, Indian equity indices continued their record run, with the Nifty crossing 20,200 for the first time amid mixed trend seen on the sectoral front.

During the week gone by FIIs withdrew a net Rs 565.48 crore even as the market was buoyant. This figure includes bulk deals and investment through the primary market. Sensex and Nifty appreciated by about 2 percent during the week.

Analysts advise following a stock-specific approach at the current juncture. They recommend buying Wipro, UCO Bank, BCL Industries, REC, Kotak Mahindra Bank, etc.