Nirman Share Brokers

Market Analysis Today

Apr 10 2024

Stock to buy Today

🔸 Lupin Limited

Lupin announced the launch of first generic version of Oracea (Doxycycline Capsules, 40 mg), in the United States, after having received an approval from the United States Food and Drug Administration (U.S. FDA).

🔸 Shyam Metallics

The company and Energy Ltd Announces Expansion into Stainless Steel Flat Products

🔸 Paisalo Digital

The company’s AUM grew by 32% YoY to Rs 4,622 crore in the foruth quarter, while disbursements jumped 38% to Rs 3,588 crore

Stocks for Intraday trading

🔸 Avenue Supermarts

The company opened a new store in Bengaluru. The total number of stores as on date stands at 366

🔸 ICICI Prudential

The company received GST order worth of Rs 20.5 crore from Gujarat tax authorities for FY19.

🔸 Exide Industries

The company to acquired 26% stake in Clean Max Arcadia for Rs 5.3 crore.

🔸 Indusind Bank

IndusInd International Holdings Ltd. (IIHL), a Mauritius-based investment firm led by the Hinduja brothers, said on Tuesday it has entered into an asset management joint venture with Atlanta-based fund management group Invesco Ltd

Securities in Ban For Trade Date 10-APR-2024:

1 BANDHANBNK

2 EXIDEIND

3 HINDCOPPER

4 IDEA

5 INDIACEM

6 SAIL

7 ZEEL

Market Action – Wednesday, April 10th 2024

# Wall Street mostly sags in Tuesday’s trade and ahead of a key reading on inflation due out Wednesday at 6 PM IST.

Gift Nifty in early action is flirting above the dotted lines indicating a positive start but we suspect traders to be on their toes ahead release of FOMC minutes and the start of the 4th quarter corporate India’s earnings season.

Volatility also is likely to be the hallmark of today’s trading session as our stock markets will remain closed on Thursday, 11th April on account of Eid Celebrations.

GLOBAL UPDATE:

# GIFT Nifty 🇮🇳: (+75, 22834)

# Dow Future (+14, 38918)

# Nikkei (-179, 39595)

# Hang Seng (+95, 16828)

# Dow Jones (-9, 38884)

# Nasdaq (+53, 16306)

# Bovespa (-0, 129890).

WHAT EXACTLY HAPPENED AT WALL STREET IN OVERNIGHT TRADE:

# The trading theme revolved around upcoming inflation data as market participants recalibrated their bets on when the Federal Reserve will begin cutting interest rates.

# Although the central bank remains committed to three cuts in 2024, sticky inflation, a robust labor market and strong economic growth have pushed back expectations for when the Federal Open Market Committee (FOMC), the Fed`s rate-setting group, will start easing.

# As of April 9, futures traders assigned a 51% probability to the first quarter-point rate cut coming in June, down from 57% a week, ago, according to CME Group`s FedWath Tool.

# As for the main US indexes, Dow Jones Industrial Average finished the day down 0.02%, while the S&P 500 and Nasdaq Composite gained 0.14% and 0.32%, respectively.

# On company news, on the corporate front, the first quarter earnings season is set to start this week, with Delta Air Lines slated to post results pre-market on Wednesday.

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Nirman Broking

Market Analysis Today

Market Analysis Today