Market sentiment seams bearish as Flls are continuing selling, it is very hard for market to sustain at upper levels untill Flls are not stopping. Gift Nifty is showing -70 points negative, so gap down opening is expected. Yesterday market behave a bit bullish kind, so our view is cautious. Be prepared for flat, gapup and down.
The GIFT Nifty indicates a flat to negative start for Indian markets, reflecting a marginal decline in Nifty futures trading at 23,734.50.
* Indian benchmark indices, Sensex and Nifty 50, recorded annual gains of 8.17% and 8.8% respectively in 2024, marking the ninth consecutive year of positive returns.
U.S. stock markets experienced a decline, with the Dow Jones, S&P 500, and Nasdaq Composite all closing lower on Tuesday.
* The Income Tax Department is set to update ITR-2 and ITR-3 forms to allow eligible taxpayers to claim the 87A tax rebate for FY 2023-24.
* India’s electronics manufacturing sector is gaining momentum due to the US-China tariff war, with Anker sourcing lithium-ion cells from Munouth group in Andhra Pradesh starting in 2025.
Tata Chemicals receives a ‘reduce’ call from HSBC with a target price of Rs 820 per share, citing muted industry demand and oversupply risks despite positive developments from Minimum Import Prices for Soda Ash.
* ITC Hotels’ demerger becomes effective today, allowing ITC shareholders to receive one ITC Hotels share for every 10 ITC shares owned, with expected share prices ranging from Rs 113 to Rs 170.
Indo Farm Equipment’s IPO received a strong response, getting subscribed 6.94 times on its opening day, with significant demand from retail and institutional investors.
* The price band for the IPO is set between Rs 204-215 per share, and the grey market premium has surged to Rs 95, indicating positive investor sentiment.
