The BSE Sensex was trading 74.79 up at 79297.9 on Monday.
The Railway Recruitment Board (RRB) has released the Technician Grade 3 Answer Key 2024. Candidates can access and download the answer key from the official RRB website. Objections can be raised until January 11, 2025. The recruitment drive aims to fill 9,144 Technician posts. Detailed information is available on the respective regional RRB websites.
Aurobindo Pharma stock dipped to 1,100 levels before rebounding, aligning with a channel line from October 2016’s swing high on monthly charts. The stock trades above 5, 10, 30, 50, and 200-DMA but remains below 100-DMA. The daily RSI stands at 66.6, indicating strength but nearing overbought levels, as per Trendlyne data.
In the Nifty 50 index, 14 stocks were trading in the green, while 36 stocks were trading in the red.
Keshav Chauhan, a tech enthusiast from Bengaluru, identified two critical types needed for startup success: one who is always online and updated, and another who stays offline, grounded in first principles. His viral post on X has ignited debates among entrepreneurs about workplace dynamics, with mixed reactions observed from the online community.
India HMPV Case: An eight-month-old baby in Bengaluru has been identified with Human Metapneumovirus (HMPV). The Indian government assures there is no cause for panic. The Health Ministry is monitoring the situation and plans to expand testing and surveillance. Hospitals have reported no unusual surge in respiratory illness cases. Preparedness measures are in place to handle any potential increase in respiratory illnesses.
Nuvama, BofA, and Bernstein have provided positive outlooks for SBI Cards, Bajaj Finance, and HDFC Bank, respectively. Nuvama upgraded SBI Cards to ‘Buy’ citing improving credit costs, while BofA maintained a ‘Buy’ rating for Bajaj Finance due to strong AUM growth. Bernstein reaffirmed its ‘Outperform’ rating on HDFC Bank, highlighting solid deposit growth and loan normalization.
HDFC Securities recommends an add call on Jubilant Foodworks with a Rs 690 target price, up from its current Rs 764.05. The pizza category faces competition and pricing challenges, but expected innovations and cost optimization could drive growth. Jubilant Foodworks, with a market cap of Rs 50323.09 crore, shows strong potential for financial recovery in FY25.
China's yuan hit a 16-month low against the dollar, pressured by trade concerns, falling yields, and a strong dollar. Despite efforts by the central bank to stabilize the currency, the yuan fell past the 7.3 per dollar mark. Analysts expect further depreciation if President-elect Trump's trade tariffs are implemented. The PBOC is expected to manage the pace of depreciation cautiously.
Mid cap mutual funds invest in mid cap stocks or in stocks of medium-sized companies. As per Sebi norms, mid cap schemes are mandated to invest in companies that are between 101 and 250 in the market capitalisation. These companies can be leaders of tomorrow. That’s what makes them great bets. If these companies live up to the promise, the market will reward the investors handsomely.
The government has proposed adding various technologies- some used for lithium refining and battery chemicals production — to its list of items that are subject to export controls, according to a notice seeking public opinion from the Ministry of Commerce on Thursday.
With the US, a lot of good news is discounted and we could have some challenges and the challenges could be that inflation might make a reappearance. It may not be quite as smooth exit as the Fed has been hoping in terms of continue to lower rates, so I think we could see not much more room for the Fed to cut if inflation gets stubborn and stuck a little bit higher.
President-elect Donald Trump urges Republicans to consolidate priorities into one bill to cut taxes, enhance border security, and boost energy production, proposing to fund it by raising tariffs on imports. Lawmakers weigh combining bills to bypass Democratic opposition, though some Republicans may oppose specific provisions.
Gold and silver futures have shown volatility in January, with gold up Rs 500/10 grams and silver rising Rs 2,000/kg. Gold’s support at Rs 77,080-76,850 and resistance at Rs 77,600-77,850. Silver’s support is at Rs 88,650-88,100, with resistance at Rs 89,900-90,500. Mixed global economic data has driven demand for precious metals amid dollar and bond yield strength.
The Sensex and Nifty50 index fell over 1% due to poor performance of private and state-owned banks as well as consumer sectors. On the brighter side, Bajaj Finance recorded a significant 28% YoY growth. Market experts foresee the influence of FII flows and domestic factors impacting the indices.
Motilal Oswal Financial Services recommends holding V-Mart Retail, setting a target price of Rs 4,750. The current market price is Rs 3877.65. For the quarter ending September 30, 2024, V-Mart reported a total income of Rs 662.74 crore. The company had a net loss of Rs 56.51 crore. Promoters hold a 44.31% stake as of September 30, 2024.
Trudeau resignation chances: Canadian Prime Minister Justin Trudeau is expected to resign soon. His Liberal Party is concerned due to unfavorable polls and internal dissent. Trudeau is also facing accusations of using allegations against India for political gain amid domestic crises. He is dealing with corruption scandals and the recent resignation of Deputy PM Chrystia Freeland.
The Indian market is expected to trade higher on 6 January 2025, with Nifty futures closing in the negative on 5 January. Experts suggest a trading range of 23,500–24,400, with support at 24,000. Top stock recommendations include PolicyBazaar, Coromandel International, Macrotech Developers, Eicher Motors, Jubilant FoodWorks, IRFC, PFC, Britannia Industries, and Bata India for short-term investors.
Global central banks plan to cautiously cut borrowing costs in 2025, with the possibility of slower rate reductions compared to 2024. The Federal Reserve's focus has shifted to inflation concerns, while central banks such as the ECB, BOE, and others plan gradual easing amid economic uncertainties and geopolitical tensions.
Surge in futures open interest across Supreme Industries, Kalyan Jewellers, IRB Infra, Angel One, and CAMS, indicating rising market activity.
North Korea launched a ballistic missile into the sea during U.S. Secretary of State Antony Blinken's visit to South Korea. Blinken met with South Korean Acting President Choi Sang-mok to emphasize the U.S. defense commitment to South Korea. The launch coincides with the political upheaval in South Korea due to the impeachment of President Yoon Suk Yeol.
JM Financial has recommended buying Larsen & Toubro with a target price of Rs 3825 as the company reported significant growth with a total income of Rs 62655.85 crore and net profit of Rs 4112.81 crore in the latest quarter. L&T secured a major Rs 76 billion order from the Ministry of Defence for K9 Vajra-T artillery platforms.
