The bullish undertone in Nifty is expected to sustain after the index hit a fresh intraday record on Thursday, though upside was capped by profit-taking. ET spoke to three chartists on what’s in store for traders and what they should do. RAJESH PALVIYA, HEAD OF TECHNICAL AND DERIVATIVES RESEARCH, AXIS SECURITIES What next?We anticipate the…
The Nifty50 index soared to a new all-time high of 26,310.45 in Thursday’s trading session, buoyed by strong buying interest across heavyweights in financials, IT, infrastructure, and consumption-linked stocks. The broad-based optimism in the market was reflected in the positive performance of 24 of the 50 index constituents, with several frontline stocks delivering solid percentage…
Mumbai: High-risk takers eyeing a contra play for their equity portfolio can consider betting on the Nifty IT index fund. With the IT index underperforming the broader markets in recent times, it offers an attractive entry point for investors, said fund managers. “The sector has been facing several headwinds such as AI impacting the business…
Shares of information technology (IT) companies such as Infosys, TCS, HCL Tech, and Persistent Systems rose by up to 4%, driving the Nifty IT index up by 3%, as an anti-AI trade unfolds in global markets, indicating concerns about a bubble forming in AI stocks. In the afternoon, Infosys shares surged as much as 4%…
As equities strengthened in October, mutual fund managers adjusted their portfolios, particularly in banking sector. Private banks and finance companies were among both the top buys and sells at fund houses. HDFC Bank, ICICI, and Bajaj Finance were among the top trades of portfolio managers. There was selective buying in IT stocks, such as, HCL…
Tech Mahindra’s (TechM) stock has lost nearly 10% in five trading sessions after the country’s fifth largest IT exporter declared the September quarter numbers on October 14. The ET Infotech index remained flat during the period. The company’s lacklustre performance on the bourses was despite its better than expected financial numbers for the quarter. The…