But the US uncertainty-related selling because money is going back into the US and the Japan, that is not India-centric. So, domestic fund managers are sensing an opportunity and from now on even there is further FII selling, domestic fund managers will step in
Get ready for a busy day in the Indian stock market. 63 companies will reveal their July-September earnings today. Keep an eye on major players like Power Grid and Tata Steel. Apollo Hospitals is expected to report strong numbers. Tata Steel might face challenges due to declining realizations. Stay tuned for the detailed financial results and expert analysis.
If Trump is victorious, it could drive traffic and badly needed advertising dollars to Truth Social, which has become the former president's main online megaphone for promoting himself and attacking his political foes. A victory by Trump could also provide a big jolt to shares of Trump Media and reward the more than 600,000 individual investors who make up its most loyal shareholders.
Historically, stocks mostly trade above these long-term trend indicators in a roaring bull market. In the event of declines such as the current one, they tend to fall below the 200-DMA, an indication of deep-rooted weakness in the market. The 200-DMA signifies a stocks trend over the past year. A year has roughly 200 trading sessions.
It demands a P/E multiple of 24 based on FY24 earnings while its enterprise value works out to be nearly 23 times Ebitda. Adani Green Energy, a larger peer, trades at FY25 expected P/E of 113 and EV/Ebitda of over 34.
The IPO, which opens Wednesday and closes Friday, has been priced in the band of 371-390 per share. The grey market premium - the price in the unofficial market that investors pay for the shares before listing - was at 20 for Swiggy on Tuesday, a 5% premium to the upper price band of 390.
With foreign institutional investor headroom in HDFC Bank remaining above 20% in the quarter ended September, India's largest private-sector bank is set to attract an additional $1.8 billion in foreign inflows.
When you start to look past the US today, there's a good argument that the most interesting market is India. Now the question will be the extent of the opportunity and the durability. If supportive policies continue and if corporates can grow their investments, this could be a fundamentally game-changing cycle
NSE's Nifty rose 217.95 points, or 0.91%, to end at 24,213.30. BSE's Sensex gained 694.39 points, or 0.88%, to close at 79,476.63. The gains were the highest in a day since September 20. The upside was fueled by metal and bank stocks.
