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Midcap stocks saw heavy selling, with the BSE Midcap index dropping over 2%, sharper than the Sensexs 0.7% fall. Out of 132 index stocks, 104 ended negative.
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News and Media
Nifty remains bearish, trading below key moving averages, with support at 22,000 and resistance at 22,800. Bank Nifty shows relative strength. ICICI Bank is resilient, while IndusInd Bank faces downside risks. MTNL surged on asset monetization news. Metals remain mixed, oil & gas under pressure. IT and consumer durables show long-term potential, with select mid-cap stocks attractive.
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News and Media
Technology spending is now essential, with Indian IT firms poised for continued growth despite cyclic slowdowns. HDFC Technology Fund adopts a bottom-up approach, balancing industry leaders and disruptors. SaaS, AI, and fintech are expanding India's tech sector. While IT spending slowed post-pandemic, long-term growth remains intact. Quick commerce has potential profitability as competition stabilizes.
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News and Media
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