My Account
Follow us on:
Powered By
Find & Invest in bonds issued by top corporates, PSU Banks, NBFCs, and much more. Invest as low as 10,000 and earn better returns than FD
Invest Now
Powered By
Unlock Your Trading Potential: Trade like Experts with SEBI registered creators, Learn from Courses & Webinars by India’s Finest Finance Experts.
Invest Now
AMBAREESH BALIGA
Fundamental, Stock Ideas, Multibaggers & Insights
Subscribe
CK NARAYAN
Stock & Index F&O Trading Calls & Market Analysis
Subscribe
SUDARSHAN SUKHANI
Technical Call, Trading Calls & Insights
Subscribe
T GNANASEKAR
Commodity Trading Calls & Market Analysis
Subscribe
MECKLAI FINANCIALS
Currency Derivatives Trading Calls & Insights
Subscribe
SHUBHAM AGARWAL
Options Trading Advice and Market Analysis
Subscribe
MARKET SMITH INDIA
Model portfolios, Investment Ideas, Guru Screens and Much More
Subscribe
TraderSmith
Proprietary system driven Rule Based Trading calls
Subscribe
Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas
Subscribe
Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas
Explore
STOCK REPORTS BY THOMSON REUTERS
Details stock report and investment recommendation
Subscribe
POWER YOUR TRADE
Technical and Commodity Calls
Subscribe
INVESTMENT WATCH
Set price, volume and news alerts
Subscribe
Check your Credit Score for Free and Get Guaranteed ₹100 Cash Reward!
Check your Credit Score for Free and Get Guaranteed ₹ 100 Cash Reward!
We wrap up today's edition of the Moneycontrol live market blog, and will be back Monday morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices/ for all the global market action.
Markets end in green for 8 years in a row, outlook positive for 2024
Some market experts say investors would be better off partially booking profits in stocks, particularly smallcaps and midcaps, where they have made outsized gains… Read More
Bulls vs Bears 2024 | Popular theories on why the rally should continue, and counterarguments
Let us take a look at some of the wildly bullish theories in favour of the bull market, and also why you should not take anything for granted… Read More
The Indian Rupee appreciated slightly on Friday on weak US Dollar and a decline in crude oil prices. FII inflows also supported Rupee. However, weak domestic markets capped sharp gains. The US Dollar recovered slightly on short coverings but declined again today on rate cuts bets. Rising weekly jobless claims also signalled a slowdown in the labour market.
We expect the Rupee to trade with a slight positive bias on the weak tone of the US Dollar and declining crude oil prices. Fresh foreign inflows may also support the domestic currency. However, the weak tone in domestic markets caps a sharp upside. Month-end Dollar demand from OMCs and importers may weigh on the rupee at higher levels. Traders may take cues from India’s fiscal deficit and Chicago PMI data from the US. USDINR spot price is expected to trade in a range of Rs 82.90 to Rs 83.50.
Markets took a breather on the final trading session of the calendar year and settled with a modest cut. After the initial downtick, the Nifty oscillated in a narrow range and finally closed at 21,731.40 levels. Meanwhile, a mixed trend on the sectoral front kept the participants busy wherein auto and FMCG edged higher while energy, IT and banking witnessed some profit taking. Besides, the buoyancy on the broader front further eased the pressure.
We may see further consolidation in the index and it would be healthy after the recent surge. We expect Nifty to hold the 21,300-21,500 zone in case of a dip during consolidation and reiterate our positional target of 22,150 level. Participants should stay focused on the selection of stocks and prefer index majors.
2023 has been a great year for our markets – for both the frontline indices and the broader markets. It once again showed the impact of Retail/HNI buying and when the FPIs also turned buyers there was no going back. In 2024, we are beginning on a high base and hence it may be difficult to expect a similar performance by the time 2024 ends. However, the resurgence of FPI buying and placement of India as an attractive market, despite the seeming high valuations, may help our markets register some more gains in the early part of the year. Later we may have bouts of volatility due to elections, timing and quantum of rate cuts, and valuation concerns. The retail Indian has truly woken up and will drive the markets whenever the macros are favourable.
2023 has turned out to be a stellar year for Gold prices. COMEX prices gained more than 10 per cent, and in the domestic market, it is up by more than 12 per cent due to the weakness in the rupee. Gold prices have effectively navigated the challenges of solid dollar index and bond yields this year. Geopolitical tension between Israel and Hamas and expectation of a Fed Pivot and rate cut in 2024 supported Gold prices at the lower level. Overall, the outlook looks positive for prices as Central banks accumulate Gold at every dip. On the other hand, the ongoing geopolitical tension will continue next year, which will act as a cushion for Gold prices. Technically speaking, $2070 has been a vital supply zone for Gold for the past few years, which it tested this month but failed to sustain above it on account of profit booking. A monthly close above the mentioned level may push the door open for the target of $2250 and a target of Rs 70000 level in MCX for 2024.
2023 was intriguing for both the Indian and Global equity markets. While the year commenced with restrained expectations and notable volatility in the initial months, the Indian market witnessed a remarkable recovery in the second half from its Mar 2023 bottom. In 2024, the Indian economy will continue to stand out, especially against the challenging backdrop of other emerging economies. We firmly believe that India will continue its growth momentum in the year ahead and remain the land of stability against the backdrop of a volatile global economy. The bolstered balance sheet strength of corporate India and the significantly enhanced health of the Indian banking system are positive factors. These elements are poised to facilitate Indian equities in achieving double-digit returns over the next two to three years, supported by robust double-digit earnings growth.
Sensex, Nifty end 2023 on upbeat note, jump up to 20%; profit-booking likely in 2024
Analysts believe that the upcoming months might see some bouts of volatility due to elevated valuations… Read More
At close, the Sensex was down 170.12 points or 0.23 percent at 72,240.26, and the Nifty was down 47.30 points or 0.22 percent at 21,731.40. The market breadth favoured gainers over losers as about 1,758 shares advanced, 1,533 shares declined, and 54 shares unchanged.
Banks Or IT: Which Stocks Should You Buy Now? | Sectors To Watch | IT Stocks | Stock Market
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
You are already a Moneycontrol Pro user.
Access your Detailed Credit Report – absolutely free