90% of India’s top 500 stocks trading above 200-DMA. Time to press the sell button?
“While the majority of stocks trading above their 200-DMAs is a good sign, it also reflects the market breadth hovering in the overbought territory. This, however, does not show individual stocks are in an overbought zone, as that will be reflected by momentum indicators like RSI and MACD,” Gaurav Bissa of InCred Equities said.
Stocks to buy today: 2 short-term trading ideas by experts for 13 December, 2023
Amid a volatile trading session, Indian benchmark indices ended in the red on Tuesday, breaking their two-session winning streak. India VIX stood at 12.18, up 7.45% on Tuesday.
Hot Stocks: Brokerages on M&M Finance and PI Industries
Jefferies maintains a hold stance on Mahindra & Mahindra Financial Services for a target price of Rs 295. In its stock review, the US-based brokerage said that M&M Financial’s loan growth momentum remains healthy while margins are likely to remain range-bound in FY24.
Big money managers name top investment ideas for Asia in 2024
Here are some of the top recommendations made by fund managers at Allianz Global Investors, Fidelity International, Principal Asset Management, Janus Henderson Investors and others:
Big movers on D-Street: What should investors do with Paytm, YES Bank and Dixon Tech?
Stocks that were in focus included names like Paytm, which fell 6.19%, YES Bank, which rose 5.68%, and Dixon Tech, whose shares declined 0.62% on Tuesday.
Poonawalla Housing rebrands as Grihum, plans listing
The lender has achieved ₹7,500 crore of AUM from ₹5,600 crore as on September 2022. With most customers coming from the lower middle-class background, 85% of its loans are below ₹25 lakh.
SpiceJet gets lifeline of Rs 2,254 crore
Investment will help the airline to induct fresh capacity and reduce liabilities, thereby reducing cost of capital, said SpiceJet promoter Ajay Singh.
Adani Group to invest $100 billion in green shift over next 10 years
The Ahmedabad-based conglomerate, which has a presence in ports, energy, cement and power among others has also pledged to plant 100 million trees by 2030, the company said in a statement today.
More highs bring more profit booking
The oil and gas, realty and utilities indices were the day’s biggest losers. Analysts believe that the markets could stay range-bound in the same manner till next week as they have entered the overbought condition and may experience a consolidation.
Yes Bank puts Rs 4,200 crore of corporate and retail bad loans on sale, seeks all-cash offers
The bank’s corporate loan portfolio comprises eight accounts totalling rs 3,091 crore, while the retail portfolio is worth Rs 1,142 crore. While the sale of distressed loans to JC Flowers ARC was through a mix of cash and security receipts, this time, the bank is seeking offers only in cash.