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Investors in the local equities market should prepare for the stock market’s eventual turnaround as the benchmark Philippine Stock Exchange index (PSEi) consolidated its base last year. Juanis Barredo, COL Financial Group Inc.’s chief technical analyst, said amid the ongoing rise in the PSEi, investors and traders should be prepared…
Sanjiv Bhasin highlights the performance of the midcap index and the earnings of companies like REC, PFC, NBCC, GAIL, IREDA, and Colgate. He expresses optimism about the Bank Nifty and the stellar performance of ICICI Bank and PSU stocks. He mentions the underperformance of HDFC and the potential impact on its stock price. He also discusses the merger cancellation of Zee Entertainment and predicts changes in its ownership. He suggests considering largecap banks like ICICI Bank and identifies potential opportunities in stocks like Dhanlaxmi Bank and Indus Tower.
The market is anticipated to display sideways movement with increased volatility.
The large & mid cap schemes are benchmarked against NIFTY LargeMidcap 250 - TRI, S&P BSE 250 LargeMidCap Index - TRI. NIFTY LargeMidcap 250 - TRI, S&P BSE 250 LargeMidCap Index - TRI gave 27.76% and 20.82% respectively in 2023.
Any dip towards 20,000 on the Nifty is a point of purchase, say analysts, as it represents an entry point into one of the finest 'islands of relative safety globally'