FMCG stocks rise; Tata Consumer among top Nifty gainers. ITC hits 52-week high
#CNBCTV18Exclusive | Govt likely to announce a calibrated correction in #windfall gains #tax levies in next few days, sources to @TimsyJaipuria
International crude prices have shown marginal correction in last fortnight pic.twitter.com/rHkrx2q9No— CNBC-TV18 (@CNBCTV18Live) September 13, 2022
European Markets Update
Sunil Damania, Chief Investment Officer MarketsMojo
Nifty has touched 18,000 because the undercurrent in the market is robust. India, for the first time, witnessed 10 crore demat accounts, and we are also seeing how FIIs have come back strongly. Even the volume in the market has improved significantly.
The moot question that comes to mind is, are we done with this rally? The answer is a firm No. We are confident the market will continue to do well as levers for growth continue. India’s PLI scheme, China plus one strategy, India as among the fastest growing economies in the world and inflation continuing to remain soft are all indicators that the market should do well. Therefore, we believe that 18k is just a number and that Indian indices will continue to rise even further.
Nifty Metal gains 1.14 percent led by Vedanta, Hindalco, JSW Steel
From the impact cost point of view, In most markets entry is cheap and exit is costly.
This time in India exit was cheap but entry is becoming costly. pic.twitter.com/pIEHlvE5Ja— Nilesh Shah (@NileshShah68) September 13, 2022
Adani Transmission incorporates wholly owned subsidiary Adani Electricity Jewar for power distribution and infra services
Zydus Lifesciences receives final approval from the USFDA for Lenalidomide capsules, used to treat various types of cancers
Gold prices are currently trading in the range of $1720-1740, and are expected to break the $1700 in the short term. This is a crucial support level for the yellow metal. The probability of gold testing the level of $1680-1630 level is high, indicating further pressure on the precious metal.
The very hawkish stance of the US Fed is adding fuel to fire, as the Fed has already reaffirmed its commitment to achieving its inflation target of 2 percent, and not to rest until the goal is reached. The end result is that rather than inflation and uncertainties which could have given Gold an edge, the inflation-fighting has assumed greater importance: Emkay Wealth Management