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Stocks in the news | IRCTC, Pidilite Industries, Tata Chemicals, TVS Motor, PVR
Prabhudas Lilladher on IndiGo:
We increase IndiGo’s FY22/FY23 earnings by 7.5%/ 7.1% and assign Accumulate rating given 1) sustained scale up of operations 2) broad based recovery in domestic demand aided by non-metro cities and 3) improving load factors on the back of rising consumer confidence.
Nifty Auto Index added 1 percent led by the TVS Motor, Tata Motors, Ashok Leyland:
USDINR pair moved above 73 levels once again primarily due to strength in dollar index along with continued weakness seen in equities. For the February series, the Call base is placed at 73.50, which should be immediate hurdle for the pair.
The dollar-rupee February contract on the NSE was at Rs 73.27 in the last session. The open interest declined by 7% for February series.
Gainers and Losers on the BSE Sensex in the early trade:
Market Opens: It is a positive opening for the Indian indices on January 29 with Nifty starts February series above 13,900.
At 09:16 IST, the Sensex was up 343.50 points or 0.73% at 47,217.86, and the Nifty was up 102.90 points or 0.74% at 13,920.40. About 928 shares have advanced, 203 shares declined, and 26 shares are unchanged.
Trade Spotlight: What Should Investors Do With India Cement, Bank Of Baroda & HDFC Bank?
Stocks like India Cement fell more than 5 percent, Bank of Baroda fell more than 9 percent, and HDFC Bank was down by nearly 3 percent were some of the stocks in focus.
Indian markets are likely to open with a flat to negative bias tracking positive global cues on concerns over stretched valuations and caution ahead of the Union Budget on February 1 keeping investors nervous. US markets ended higher post release of better-than-expected macroeconomic data.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session.
At 09:01 IST, the Sensex was up 522.38 points or 1.11% at 47,396.74, and the Nifty was up 34.80 points or 0.25% at 13,852.30.
Nearly Rs 10 Lakh Crore Gone Ahead Of Budget: What Should Be Your Investment Strategy?
The trading strategy on the Budget Day should be to pick stocks from their support levels and keep an eye on reversal patterns instead of picking stocks which are trading in a range or are at higher…