The Week saw the commencement of Three Big events the ICC World Cup, the October MPC Meet and the earnings season for Q2FY24. Just like the first world cup match which turned out to be without thrills the MPC meet too went exactly as per the expectations. The RBI decided to keep the repo rates unchanged to 6.5%, however it emphased on the point that their target Inflation rate is 4% and the not broad 2-6%. Thus, indicating that the fight against inflation will not slow down.
The Week also witnessed a hue of Q2FY24 banking business updates. The Credit growth has broadly remained strong; however, deposits still witness pressure. The Nifty 50 ended the week on a flat note with a small gain of 0.08%.
Scroll down to understand more of such market news and perspectives for the week gone by in easily understandable charts.
Runs, Sixes, & Trophy: Stocks to Watch in World Cup 2023!
HDFC Bank Shines; Reports A Steady Q2 Update!
September Auto Sales Leave Investors Wanting More!
Bajaj Auto's Sales Saga!
Here are the best and worst performing Nifty 50 stocks in September 2023.
PNB Reports Q2 Business Update; Stock Falls More than 3% on Thursday!
Bajaj Finance Reports A Solid Q2 Business Update!
D-Street Gives a Thumps Up To Federal Bank's Q2 Update!
IndusInd Bank Q2 Update: Advances Sees A Strong Growth!
RBL Bank Q2FY24 Business Update: Credit Growth Strong!
Sobha reported operational updates for Q2FY24, recording the highest-ever quarterly sales value with average realizations per sqft growing 11% YoY.
The chart shows the provisional production and off-take performance of Coal India Ltd. for September 2023.
Kalyan Jewelers Q2FY24 revenue rises 27% YoY!
The accompanying chart depicts operational update of D Mart for the quarter ending 30th september, 2023.
The chart represents the operational update of Adani Wilmar for Q2FY24.
The table presents the list of companies whose borrowings exceeds their market capitalization.
Here’s how major indices performed during September 2023.
RBI Keeps The Repo Rate Unchanged: Key Details Here!
India’s Manufacturing PMI slowed down in September’23 to hit a 5-month low.
India’s Service PMI which rose in September’23 saw business activity and new work intakes rising to one of the greatest extents in over 13 years.
After 6 successive months of net investment, FIIs withdrew Rs.14,768 crores for the month of September’23.
SUNTV is trading above its previous swing high levels of 630 on the daily chart. Short covering at 630 Strike is likely to drive further rally in the stock.
A break above the previous two swing high levels of 1130 on the daily chart again can drive further rally in MGL.
Follow up buying was seen in VEDL post the formation of morning star candle on the daily chart. A strong close above the 50-DEMA is likely to be positive for the stock.
Havells, Voltas and Blue Star looks bullish in the weekly charts. These stocks are trading above 20 and 50 Daily Moving Average (DMA) with good volume.
Image Courtesy: SOIC
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