In the Nifty500 pack, 10 stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on January 30, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
The third quarter earnings results will be announced by 134 companies, with key players such as Nestle India, IndusInd Bank, Sun Pharma, ONGC, Vedanta, and Marico in focus. Nestle's profits are expected to show marginal growth, while IndusInd Bank may see a significant decline in PAT due to slower loan growth and rising slippages.
Benchmark indices Sensex and Nifty closed higher for the third consecutive day on Thursday due to buying in heavyweight stocks like Nestle India, IndusInd Bank, and Bajaj Finance. Technical analysts recommend holding Nestle India and Bajaj Finance, while advising investors to exit IndusInd Bank.
Cremica Foods is among at least half a dozen companies in the consumer space that have either filed for a stock market listing or are in the process of finalising plans for doing so. They include premium alcohol importer Monika Alcobev, Wai Wai noodle maker CG Foods, B9 Beverages, Wow! Momo and Ganesh Consumer.
Of the 21 IPOs since December 1, 19 shares returned between 9% and 160% on their debut. After the positive start, 17 are trading below their opening prices.
The inflows which had peaked at over 22,000 crore in August have tapered due to escalating US yields and a depreciating rupee making Indian government bonds less attractive to foreign portfolio investors, fixed income experts said.
