Listen In: Why traders should be more bullish than bearish on Indian stocks
Hi there, Good Morning. Welcome to ETMarkets Morning, the show about money, business and markets. I am Nikhil Agarwal. Let’s start with the headlines first.
– RBI likely to hold interest rates this week
– Petrol, diesel prices hiked by 40 paise
– Imran Khan is no longer Pakistan’s PM
Now lemme give you a quick glance on the state of the markets.
Asian stocks fluctuated in Japan, Australia and South Korea. Equity futures earlier rose for Hong Kong, where Chinese technology shares could get a tailwind after regulators removed a key hurdle that impedes full US access to audits.
Elsewhere, the yield on 10-year Treasuries advanced about two basis points to 2.40%. The dollar was firm as investors evaluated a push by some European Union governments for new penalties on Russia following reports that its troops executed unarmed civilians in Ukrainian towns. Oil prices extended losses on Monday as investors eyed the release of supplies from strategic reserves from consuming nations, while a truce in Yemen could ease supply disruption concerns in the Middle East.
That said, here’s what is making news.
If the past is a relatively accurate predictor of the future, traders should be more bullish than bearish on Indian stocks. Data over the past 15 years show that April is the best month of the year, and the bounceback last Friday only confirms this trend. The trend is even stronger in smaller stocks.
According to analyst consensus estimates compiled by Bloomberg, 22 stocks could return over 15% returns in the next one year. These include Ramco Cements, Gujarat Gas, Laxmi Organics, BPCL, Emami, Motilal Oswal Financial Services, Chemplast Sanmar, DLF, Apollo Hospitals, Hindustan Unilever, and Indian Oil, among others. These companies have seen a 15-75% upgrade in earnings estimates.
The Nifty is likely to gain further in the coming week after surging 3% last week and outperforming all regional markets, except China. The index is likely to find resistance at 17,800 and 18,000 and the support is pegged around 17,400, said technical and derivatives analysts.
Asian Paints has had a formidable market share and a strong moat in the decorative paints segment. It is trying to build a moat in the home decor segment, too, by becoming a one-stop-solution provider for the consumer. However, while the moat building is a long-term proposition, the challenge of increased competition is immediate.
Low and unpredictable returns from debt mutual funds over the past year and concerns of mark-to-market losses on these plans in case of a pronounced reversal in the rate trajectory have led investors to alternatives.
NOW Before I go, here is a look at some of the stocks buzzing this morning…
In the single largest trade in bad loans involving a non-bank lender last fiscal, L&T Finance sold little over Rs 3400 crore from its stressed-assets portfolio to Kotak Mahindra Bank-backed Phoenix ARC Pvt in the last week of March.
Just weeks into announcing investment of Rs 10,000 crore on electric vehicles in India, Maruti Suzuki is putting in place the building blocks with dedicated teams for EVs and digitalisation.
State-owned Oil and Natural Gas Corporation (ONGC) is likely to see a $3 billion (about Rs 23,000 crore) rise in its annual earnings from the more than doubling of the price of natural gas it produces.
PSU major Indian Oil Corporation on Sunday said it will invest nearly Rs 840 crore in expanding its Petroleum, Oil and Lubricant (POL) storage capacities, including setting up a greenfield facility, in the Northeast.
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Do also check out over two dozen stock recommendations for today’s trade from top analysts on ETMarkets.com.
That’s it for now. Stay with us for all the market news through the day. Happy investing!
Listen In: Why traders should be more bullish than bearish on Indian stocksHi there, Good Morning. Welcome to ETMarkets Morning, the show about money, business and markets. I am Nikhil Agarwal. Let’s start with the headlines first.- RBI likely to hold interest rates this week- Petrol, diesel prices hiked by 40 paise- Imran Khan is no longer Pakistan’s PMNow lemme give you a quick glance on the state of the markets.Asian stocks fluctuated in Japan, Australia and South Korea. Equity futures earlier rose for Hong Kong, where Chinese technology shares could get a tailwind after regulators removed a key hurdle that impedes full US access to audits.Elsewhere, the yield on 10-year Treasuries advanced about two basis points to 2.40%. The dollar was firm as investors evaluated a push by some European Union governments for new penalties on Russia following reports that its troops executed unarmed civilians in Ukrainian towns. Oil prices extended losses on Monday as investors eyed the release of supplies from strategic reserves from consuming nations, while a truce in Yemen could ease supply disruption concerns in the Middle East.That said, here’s what is making news.If the past is a relatively accurate predictor of the future, traders should be more bullish than bearish on Indian stocks. Data over the past 15 years show that April is the best month of the year, and the bounceback last Friday only confirms this trend. The trend is even stronger in smaller stocks.According to analyst consensus estimates compiled by Bloomberg, 22 stocks could return over 15% returns in the next one year. These include Ramco Cements, Gujarat Gas, Laxmi Organics, BPCL, Emami, Motilal Oswal Financial Services, Chemplast Sanmar, DLF, Apollo Hospitals, Hindustan Unilever, and Indian Oil, among others. These companies have seen a 15-75% upgrade in earnings estimates.The Nifty is likely to gain further in the coming week after surging 3% last week and outperforming all regional markets, except China. The index is likely to find resistance at 17,800 and 18,000 and the support is pegged around 17,400, said technical and derivatives analysts.Asian Paints has had a formidable market share and a strong moat in the decorative paints segment. It is trying to build a moat in the home decor segment, too, by becoming a one-stop-solution provider for the consumer. However, while the moat building is a long-term proposition, the challenge of increased competition is immediate.Low and unpredictable returns from debt mutual funds over the past year and concerns of mark-to-market losses on these plans in case of a pronounced reversal in the rate trajectory have led investors to alternatives.NOW Before I go, here is a look at some of the stocks buzzing this morning…In the single largest trade in bad loans involving a non-bank lender last fiscal, L&T Finance sold little over Rs 3400 crore from its stressed-assets portfolio to Kotak Mahindra Bank-backed Phoenix ARC Pvt in the last week of March.Just weeks into announcing investment of Rs 10,000 crore on electric vehicles in India, Maruti Suzuki is putting in place the building blocks with dedicated teams for EVs and digitalisation.State-owned Oil and Natural Gas Corporation (ONGC) is likely to see a $3 billion (about Rs 23,000 crore) rise in its annual earnings from the more than doubling of the price of natural gas it produces.PSU major Indian Oil Corporation on Sunday said it will invest nearly Rs 840 crore in expanding its Petroleum, Oil and Lubricant (POL) storage capacities, including setting up a greenfield facility, in the Northeast.——-Do also check out over two dozen stock recommendations for today’s trade from top analysts on ETMarkets.com.That’s it for now. Stay with us for all the market news through the day. Happy investing!