Midcap stocks witnessed mild profit booking in the latest session after the sharp rally seen earlier this month. The midcap index underperformed the frontline benchmarks.
Midcap stocks witnessed mild profit booking in the latest session after the sharp rally seen earlier this month. The midcap index underperformed the frontline benchmarks.
Public sector stocks continued to see stock-specific movement, with select counters attracting buying interest while others remained subdued. The broader PSU basket showed mixed undertone.
Automobile stocks traded in a narrow band in the latest session as investors stayed cautious ahead of upcoming monthly sales numbers. Most frontline auto counters ended with marginal moves.
Information technology stocks witnessed selective accumulation after the recent bout of profit booking. Frontline IT names saw mild recovery as investors looked for value at lower levels.
Shares of Tata Steel edged higher in the latest session, outperforming the broader indices. The stock showed resilience as metal counters remained relatively stable despite global commodity volatility.
State Bank of India continued to witness buying interest in recent trade, with the stock holding firm near its 52-week high. The counter remained active despite a range-bound broader market, indicating sustained institutional confidence.
Market participants attribute the resilience to stable asset quality trends and healthy credit growth outlook. PSU banking stocks have been seeing selective accumulation in recent sessions.
Analysts expect the stock to remain stock-specific in the near term, with investors closely tracking loan growth momentum and margin trajectory.
Shares of Tata Steel edged higher in the recent session, outperforming the broader market trend. The stock rose marginally even as the Sensex closed in the red, highlighting relative strength in the metal major.
In a significant development, the Delhi High Court dismissed a petition challenging the market regulator’s clearance for the National Stock Exchange (NSE) IPO. The court observed that the plea appeared aimed at obstructing the listing process.
Brokerage commentary suggests India Inc’s December quarter earnings broadly met expectations, with several pockets showing steady momentum. Select companies have seen earnings upgrades post results season.
Hindalco Industries may remain on investors’ radar after a brokerage downgrade citing concerns over aluminium price trends and rising capex. Analysts expect EBITDA to moderate over the medium term amid industry headwinds.
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