Oversold stocks present a compelling opportunity for investors looking to capitalize on potential rebounds in the market. ETMarkets brings a list of notable oversold stocks compiled by Goldman Sachs, based on their recent price corrections and fundamental strengths.
In October, FPIs sold shares worth Rs 94,017 crore after a September purchase, where FPIs bought domestic equities worth Rs 57,724 crore. While in August, they had purchased shares worth Rs 7,322 crore which was down month-on-month from July when the total buying figures stood at Rs 32,359 crore.
The small-cap segment saw Rs 812 crore worth of block deals this week. Ramco Industries led the small-cap deals with Rs 327 crore, followed by Five-Star Business Finance at Rs 97 crore and Genesys International at Rs 86 crore.
Zomato shareholders have overwhelmingly approved a plan to raise 8,500 crore ($1 billion) through a new share sale. The move aims to bolster the Indian food delivery giant's finances amid fierce competition in the rapidly expanding quick-commerce sector.
Indian indices rebounded on Friday, snapping a five-day losing streak, driven by buying in IT, banking, and auto stocks. Despite the rally, analysts remain cautious due to muted earnings and liquidity concerns, suggesting the bounce back may be temporary. While the short-term outlook remains negative, long-term investors might find opportunities in select sectors like IT and banking.
In the last five trading sessions preceding November 22, the Sensex index rose by approximately 1.84%, or 1,426 points, closing at 79,117, with gains recorded in just two of those sessions. Despite the market's volatility, ETMarkets identified 10 stocks from the BSE midcap index that experienced consistent price increases during this period. (Data Source: ACE Equity)
Japan is commemorating workers who died at the Sado Island Gold Mines, a UNESCO World Heritage site with a controversial past. Hundreds of Koreans were subjected to forced labor there during World War II. While the ceremony aims to honour "all workers," critics argue Japan is downplaying the suffering of Korean labourers.
NTPC Green IPO share allotment is expected to be finalized on Monday, with shares being allotted via lottery. The IPO received a subscription of nearly 2.4 times. Listing is anticipated for November 27, with an unofficial premium of Rs 1.5 in the unlisted market. Proceeds from the IPO will fund subsidiary investments, debt repayment, and general corporate purposes.
The Federal Reserve's rate cuts are poised to shape the U.S. and global economies, potentially overshadowing the impact of Donald Trump's economic policies. Despite short-term market fluctuations, the Fed's focus on stability and addressing fiscal challenges is expected to have a more lasting influence on markets, including the USD/INR, EUR/USD, and GBP/USD.
Six new public offers are gearing up to launch in the SME market segment next week, with no new IPOs on the mainboard. These include Rajesh Power Services, Rajputana Biodiesel, Abha Power and Steel, Apex Ecotech, Agarwal Toughened Glass, and Ganesh Infraworld. Additionally, four companies, including Enviro Infra Engineers and NTPC Green, will be listed following their IPOs last week.
