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Only few stocks drove this recovery - major ones were Reliance Industries, TCS and Infosys, which are index heavyweights The benchmark indices touched a record high in January 2020, but the COVID-led lockdown spoilt the party on the Street. Indices fell 40 percent from the record high levels to hit a low in March. The market got a boost after the government started the Unlock process in June. The liquidity flow and positive global cues also lifted the sentiment. Nifty and Sensex have made fresh record highs this week with Sensex scaling the 43,000-mark for the first time. But the upward journey from March to November was not broad-based as only two sectors saw substantial gains. IT and Pharma looked strong from last record high in January to current record high in November, rising 29 percent and 35 percent, respectively. And the rest are still in the red during same period as of publishing this article. It meant that only few stocks drove this recovery - major ones were R...

Mazhar Mohammad of Chartviewindia.in advised traders to remain neutral and wait for some signs of weakness before shorting. The Nifty50 opened at record high levels and faced volatility during the day, but the rebound in the last couple of hours of trade helped the index to end at fresh record closing high on November 11. Bulls continued their support for the eighth consecutive session and as a result, the index formed bullish candle which resembles a Hanging Man kind of pattern on the daily charts. A Hanging Man is a bearish reversal candlestick pattern which is usually formed at the end of an uptrend or at the top (around 8.5 percent rally in 7-trading sessions). In a perfect 'Hanging Man' pattern either there will be a small upper shadow or no upper shadow at all, a small body and long lower shadow. The consistent flow of FII money and buying in banking & financials, auto, FMCG, metals and pharma stocks pushed the market higher. Experts feel the 12,770 would be...

Expenses during the second quarter of 2020-21 stood at Rs 55.70 crore, against Rs 65.95 crore a year ago. IDFC Ltd  on November 10 reported narrowing of its consolidated net loss to Rs 146.68 crore in the second quarter ended September 30. It had posted a net loss of Rs 407 crore in the corresponding quarter of the previous financial year. Sequentially, the losses widened against Rs 26.46 crore in the first quarter ended June 30. However, Its total income during July-September 2020 grew 41.39 percent to Rs 91.54 crore as compared with Rs 64.74 crore in the year-ago period, IDFC Ltd said in a regulatory filing. Expenses during the second quarter of 2020-21 stood at Rs 55.70 crore, against Rs 65.95 crore a year ago. On November 7, 2019, the group executed definitive agreements with Dharmesh Mehta and other investors for the sale of its entire investment in IDFC Securities Ltd. The sale was concluded in June 2020 after receiving all regulatory approvals. With the sale IDFC Se...

Mazhar Mohammad of Chartviewindia.in advised traders to book profits and remain neutral on the index. The Nifty50 opened strong at new record levels and continued its upmove for seventh consecutive session on November 10 following rally in banking & financials stocks. The progress in vaccine development, positive global cues post Joe Biden's victory in the United States elections and consistent FII inflow supported the market. The index closed above 12,600 and formed bullish candle which resembles Hanging Man on the daily charts. A Hanging Man is a bearish reversal candlestick pattern which is usually formed at the end of an uptrend or at the top (around 8.5 percent rally in 7-trading sessions). In a perfect 'Hanging Man' pattern either there will be a small upper shadow or no upper shadow at all, a small body and long lower shadow. Experts feel the momentum can continue, but if the index breaks 12,475 levels then there could be some correction. Mazhar Moham...

During January-May 2020, mutual funds (MFs) made a net investment of more than Rs 40,000 crore in stock markets, data available with the Securities and Exchange Board of India (SEBI) showed. Mutual funds pulled out a massive Rs 14,300 crore from equities in October, making it the fifth consecutive month of withdrawal, as fund managers sold stocks to meet redemption requirements. During January-May 2020, mutual funds (MFs) made a net investment of more than Rs 40,000 crore in stock markets, data available with the Securities and Exchange Board of India (SEBI) showed. Pranjal Kamra, CEO of Finology said, one of the primary reasons for the withdrawal was that continuous outflow was being observed in equity mutual funds through redemption by investors amid concern over the US election and slowdown in the domestic economy. Moreover, during the September quarter, equity-oriented mutual funds witnessed an outflow of over Rs 7,200 crore and also there was a drop in inflow from the syst...

The Nifty is approximately 1.4 percent short of a lifetime high while the Bank nifty needs the appreciation of 21 percent approximately to reclaim the all-time high. MCX: BUY | CMP: Rs 1,728.25 | Target: Rs 1,987 | Stop Loss: Rs 1,630 | Return: 15 percent The stock had given the multi-year break out of a cup pattern and went sideways for a few weeks keeping the bullish bias intact. Recently, the sign of life can be seen again as the prices are bouncing back from the support zone. The bullish candlestick pattern has been formed on November 5, 2020, suggesting that bulls have entered at lower levels and are likely to take the rally forward. The RSI has bounced back from the significant support levels and short term moving averages has developed a positive curve after a mild correction. Reversal after retracement can be expected in the counter and traders can consider buying the stock at the current market price (CMP) and on any dip till 1,700 for the short-term gain. L&T Finance ...

Gland Pharma aims to raise Rs 6,479.54 crore via public issue, of which Rs 1,943.86 crore has already been raised from anchor investors on November 6. Gland Pharma is set to open its initial public offering for subscription on November 9, but its premium in the grey market fell significantly after the announcement of issue price band at Rs 1,490-1,500 per share. The grey market premium dropped to around Rs 50-70 against around Rs 200 quoted before the company fixed IPO price band, sources told Moneycontrol. The fall is largely attributed to the pricing of issue which is comparatively on the higher side and also higher than market expectations given the 80 percent rally registered by the pharma index from March lows, experts feel. In fact, the pharma was the second-highest gainer among sectors in the last 9 months, while the equity benchmark indices rallied 60 percent in same period and are near record high levels. "Gland Pharma is coming up with the IPO at PE levels of 3...