Analysts said NSE Nifty needs to reclaim the 8,800 level for any comeback.
A good amount of long buildup was seen in Cadila Healthcare , Torrent Pharma and STFC.
As analysts struggle to assess the hit on India Inc.’s earnings and debt-servicing capabilities amid the nationwide lockdown due to the coronavirus pandemic, they have begun relying on alternative indicators to inform their investment recommendations. Equity analysts speaking in interviews with Bloomberg highlighted measures ranging from volatility and cash levels to daily infection numbers and technical charts. So far, the drop in analyst price targets for the NSE Nifty 50 Index has trailed the actual slump in the stock gauge. (Source: Bloomberg; Authors: Ishika Mookerjee and Ronojoy Mazumdar)Here is what analysts are watching for signs of a turning point for India stocks:
His PMS portfolio consists of farm-facing, manufacturing & market infrastructure firms.
Equity benchmark Sensex ended over 173 points lower on Wednesday after a highly volatile session as investors remained jittery on concerns over the Covid-19 pandemic. Plunging over 1,300 points from the day's high, the 30-share BSE barometer ended 173.25 points or 0.58 per cent lower at 29,893.96. It hit an intra-day high of 31,227.97. Similarly, the NSE Nifty closed 43.45 points, or 0.49 per cent, down at 8,748.75.
The market breadth was positive with gainers outnumbering losers on BSE.
The entities have been asked to make the open offer within 45 days from April 15.
The sudden rise in share buyback offers this time has more to do with the market fall.
I think a lot about what money is worth and believe that it has no intrinsic value, says Dalio.
The stock currently trades at Rs 1,158, 28 per cent away from its 52-week high.
Select names from the pack may even outperform the broader market in the short term.
Travel bans globally and domestically have virtually paralysed the capital-intensive sector.
“The market is working like it was before the lockdown, and so am I,” says he.
In fact, these stocks have scaled their new highs amid the carnage.
I would focus on non-discretionary and essentials, says Portfolio Manager at Ashmore Investment.
The months ahead may turn out to be even more painful, warn analysts.
So far in 2020, all the 14 components of this sector have lost at least 10 per cent value.
The stock quoted a 52-week high of Rs 1670.0 and a 52-week low of Rs 812.0.
The Nifty IT index was trading 0.41 per cent down at 12537.7.
The Nifty Auto index was trading 1.62 per cent up at 5031.7 .
The Nifty FMCG index was trading 0.51 per cent up at 28891.3 .
The Nifty Realty index was trading 1.5 per cent down at 180.25.
The Nifty Pharma index was trading 3.87 per cent up at 8439.35 .
HUL’s market capitalisation gained by over Rs 63,000 crore on Tuesday to Rs 5.29 lakh crore.
The Nifty Bank index was trading 1.5 per cent down at 18776.85.
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