Indian equity markets saw an increase led by banks and auto stocks, with the S&P BSE Sensex up 0.30% and the broader Nifty50 up 0.31% in early trading. However, the IT sector recorded a drop and Nifty PSU Bank fell 0.82%. Dharmesh Shah from ICICI Securities recommended buying Reliance Industries and IDFC First Bank, amongst others, for traders with a short-term horizon. The Head of Research, Technical and Derivatives at Angel One, Sameet Chavan, continued to advise traders to adopt a buy on decline strategy as the market may reach between 18,350 – 18,500.
Trent’s still a buy for Nuvama; government push needed to boost urban demand: Abneesh Roy
Abneesh Roy from Nuvama shares insights on the expected impact of the Union Budget on consumption. He is positive on Trent’s prospects in the retail
January 16, 2025