Market Analysis Today
Mar 13 2024Stock to Buy today
🔸 Auropharma
Eugia Pharma Specialities Ltd has started distribution of aseptic products manufactured at Unit III, that was temporarily stopped. The company also expects to start commercial production from the aseptic lines of the said facility in a phased manner
🔸 Indoco Remedies
The company approved the purchase of 2,860 sq m of land in Mumbai.
🔸 Sterling & Wilson
The company has issued clarification on the Shapoorji stake sale report and said it is not aware of negotiations
Stocks for Intraday trading
🔸 Shree Cement Limited
The Company has entered into an Asset Purchase Agreement with M/s Starcrete LLP for purchase of five ready mix concrete plant located in Mumbai Metropolitan Region of Maharashtra.
🔸 Avenue Supermarts Limited
The Company has opened two new stores today at Proddatur, YSR Kadapa (Andhra Pradesh) and at Shirdi (Maharashtra) today. The total number of stores as on date stands at 350.
🔸 Glenmark Pharma
The company completed the transfer of the remaining 20% stake in Glenmark Life Sciences to Nirma.
🔸 ITC
British American Tobacco, the largest public shareholder of the company, has launched a block trade to offload up to a 3.5% stake in the company for over Rs 17,482 crore.
Stock in News Today
🔸 Vedanta
SEBI has ordered the company to pay Rs 77.62 crore to Scottish explorer Cairn for delay in payment of dividends and barred the firm`s entire board from accessing the capital market for
🔸 Allcargo Logistics
The company LCL volume for the month of February increased 7% YoY and FCL volume up 5% YoY for the month of February.
🔸 Muthoot Capital
The company partners with Greaves Cotton unit Greaves Finance 100% EV-focused lending platform evfin for electric two-wheeler financing across India
Securities in Ban For Trade Date 13-MAR-2024:
1 ABFRL
2 HINDCOPPER
3 MANAPPURAM
4 MGL
5 NATIONALUM
6 PEL
7 SAIL
8 TATACHEM
9 ZEEL
Market Action – Wednesday, March 13th 2024
Wall Street bulls brush off hotter-than-anticipated inflation data as S&P 500 nabs new record close after February CPI.
Gift Nifty is indicating higher start as a big rally in overnight trade at Wall Street is helping it to find firm footing.
GLOBAL UPDATE:
GIFT Nifty (+16, 22455)
Dow Future (+2, 39007)
Nikkei (-68, 38729)
Hang Seng (-34, 17059)
Dow Jones (+236, 39005)
Nasdaq (+246, 16266)
Bovespa (+1544, 127668).
WHAT EXACTLY HAPPENED AT WALL STREET IN YESTERDAY’S TRADE:
# US stocks after a shaky start jumped out the gate as the S&P 500 nabbed a record close on Tuesday despite a hotter-than-expected inflation report.
# Digging deeper, the February consumer price index clocked in hotter than economists had anticipated, with headline inflation rising at a 3.2% annual rate. But the report wasn’t enough to spook traders betting on a June interest rate cut.
# That said, overnight rally at Wall Street wasn’t broad-based: Only largecap technology stocks led the way. Nvidia was biggest notable gainer with the magnificent stock surging 7.2% – adding $154 billion in market cap. The chipmaker actually got a boost from Oracle`s earnings report.
# At the end of Tuesday’s close, the Dow Jones Industrial Average was up about 235 points, or 0.6%. The S&P 500 was up 1.1% to its highest close on record, based on preliminary figures. The Nasdaq Composite was up 1.5%.