The earnings season for India Inc.’s second quarter of fiscal year 2023-24 has concluded, revealing a tapestry of performances across sectors within the Nifty50. Foreign Institutional Investors (FIIs) have been withdrawing money from the Indian markets in the last 2 months. However, the selling pace has declined considerably. While India’s retail inflation dropped to a 4-month low level of 4.87% in October, its trade deficit widened and hit the highest level in 10 months.
Sensex has shown remarkable resilience amidst the political chaos that happen before the last 11 general elections from 1980 to 2019. The Nifty experienced a decline from its record peak of 20,200 to the 18,800 level, marking a 1,400-point decrease over 26 trading sessions. However, it swiftly rebounded, reclaiming nearly 1,000 points in just 15 trading sessions. We are currently six months away from the General Assembly Elections and looking at the past data and the current market scenario it seems like it’s an onset of another pre-election rally.
Nifty ended the week 1.06% higher at 19,732. Nifty IT and Nifty Auto surged the most during the week with a gain of 4.8% and 3.36% respectively.
Scroll down to understand more of such market news and perspectives for the week gone by in easily understandable charts.
The chart discloses the impact of elections on Nifty50.
Investor's Delight: Unveiling Stocks with a Persistent Surge in Operating Profits!
Hot Stocks Alert: Promoters' Picks!
Investor Alert: Stocks with Continuous Promoter Holding Erosion!
Numbers that Matter: Adani House Quarterly Earnings Unveiled!
Eicher Motors Rides on Bullet Performance!
Here’s the financial performance of Glenmark Pharmaceuticals Ltd. in Q2FY24!
LIC Reports Weak Q2FY24 results!.
Aster DM Healthcare Ltd declared its results for Q2FY24, here’s how the quarter went:
Ethos Reports Strong Q2FY24 results!
The below chart displays the financial performance of Kalyan Jewellers during Q2FY24.
Here’s how Trident Ltd. performed in Q2FY24!
The performance of Biocon for the quarter ended 30th Sep 2023.
Here’s how Techno Electric performed during Q2FY24!
The chart above shows the net fortnightly investments by FIIs.
India’s Retail Inflation Drops to 4-Month Low of 4.87% in October!
Representation of Trade deficit details of India for Oct-23.
SBILIFE has given an ascending triangle breakout on the daily chart with rise in volumes.
EICHER MOTORS zoomed past its previous resistance of 3,750 on the daily chart supported by Long Buildup.
CNX FMCG is currently exhibiting a consolidative phase. Notably, the substantial support observed at the 50600 levels.
HINDCOPPER has given a trendline breakout on the daily chart. The level of 150 is likely to act as a strong support for the stock.
Two of the motive sub-waves in a five-wave sequence will tend toward equality. This means that, when Wave 3 of an impulse wave, Wave 5 will be approximately equal to Wave 1.
Image Source: @www.visualcapitalist.com
Easy & quick