Equity99

What started on optimistic note turned out be a blood bath on the Dalal Street as Fed Chair Jerome Powell hinted that if interest rates are anticipated to stay higher for an extended duration and bond yields remain at elevated levels, foreign investors may opt to persist on the selling side of the trade for the time being. Elevated bond yields may increase the risk perception in the market. Foreign investors may exercise caution and prefer to reduce their exposure until there is greater clarity or confidence in the economic outlook. There's a historical trend of market corrections before elections, uncertainty about potential policy changes or the outcome of the elections can lead investors to be cautious and pull back from the market from May to mid-July. Investors tend to prioritize sectors that promise growth and make substantial contributions to the economy. These sectors include Information Technology (IT), Consumer Goods, Household Appliances, Power, Renewable Energy, and Realty, to grab attention in coming time.

Ready to break above 262🚀🚀🚀

Upper circuit 210.95

Near to hit upper circuit 264.45 Again hit high 262🚀🚀🚀🚀

Bse hit high 264 🚀🚀🚀

Ready to hit 264🚀🚀 upper

*News Headlines from Business News Agencies :* *Business Standard :* 📝 Vodafone Idea in talks to avail loans worth $1.8 billion, says report 📝 Blue Star Q4FY24 results: Net profit declines 29% to Rs 159.71 crore 📝 Cognizant Q1 profit declines 6% to $546 million, revenue dips 1.2% 📝 Wipro to implement Independent Health's medicare prescription payment plan 📝 ICICI Bank denies report of MD & CEO Sandeep Bakhshi wanting to quit 📝 MDH, Everest row: Centre asks state govts to test spices for quality check 📝 Go First planes need parts; lessors to take longer to fly them out of India 📝 Air India deploys A350 on international route with Delhi-Dubai flight 📝 India GCCs emerge as proof-of-concept foundries for GenAI applications 📝 ArcelorMittal March quarter results: Core profit at $1.96 bn, tops forecast 📝 India needs to expand universal health coverage for ageing population: ADB 📝 RBI's forex intervention eases as conditions turn favourable for rupee *Economic Times :* 📝 Coforge to acquire 54% stake in Cigniti Technologies at Rs 1,415 per share 📝 India among fastest-growing markets with potential to be among top 10: Airbnb CBO 📝 Fin inclusion, digital growth to drive payments bank momentum in India: Airtel Payments Bank CEO 📝 China, Hong Kong account for 56 pc of India's total imports of electronics, telecom, electrical products: GTRI 📝 Electric bike sales decline 50% in April amid subsidy changes 📝 Agilitas appoints Nirdosh Chouhan as chief technology and product officer 📝 Maiva Pharma raises Rs 1000 crore from Morgan Stanley Private Equity, InvAscent 📝 Indus Towers facing an Rs 60 cr shortfall in collections from Vodafone Idea in Q4 📝 OECD revises India's FY25 growth forecast upward to 6.6% 📝 Paytm Money CEO Varun Sridhar steps down; Rakesh Singh appointed as chief executive 📝 NPCI inks pact with Bank of Namibia for developing UPI-like instant payment system *Mint :* 📝 Cognizant lowers revenue outlook for 2024 after slow March quarter 📝 UPI transaction volume declined to ₹19.64 lakh crore in April. 📝 Adani Enterprises Q4 Results: Net profit drops 38% to ₹451 crore 📝 Adani Ports Q4 net profit jumps 76% YoY to ₹2,040 cr; ₹6 dividend declared 📝 Anthill Ventures plans $100 million hybrid fund for Indian startups 📝 NCLAT dismisses minority shareholders' plea in Minosha India case 📝 Adani Group eyes 5 GW electrolyzer capacity with up to $3 bn investment 📝 India's manufacturing activity in April second strongest in 3.5 years 📝 India's Serum Institute faces lawsuit on Covishield vaccine over girl's death 📝 Microsoft and Brookfield sign biggest-ever clean power deal 📝 Coforge Q4 net profit down 5.6% YoY to ₹229.2 cr

Morning Alert.. *Manufacturing PMI slips to 58.8 in April from March's 16-year high* Indian manufacturing slowed down a bit in April but growth stayed robust to signal the second-best improvement in the sector's health in three and a half years, said a private business on Thursday. The headline Purchasing Managers' Index (PMI), released by HSBC, slipped to 58.8 in April from a 16-year high of 59.1 recorded in March. “Firms experienced a sharp upturn in new business intakes and scaled up production accordingly. With sales expected to remain positive, buying levels were raised, and input stocks were increased to one of the greatest extents seen in over 19 years of data collection. Cost pressures ticked higher, though they remained historically mild, pushing up charge inflation to the strongest since January,” said the survey. A figure above 50 in the index denotes expansion and that below signifies contraction. Indian manufacturers reported robust demand from Indian and foreign clients in April when total new orders rose sharply. The pace of expansion was the second strongest since 2021. *Bonds rally as US Federal Reserve says no plans for further rate hike* Government bonds strengthened on Thursday as traders covered short positions following the US Federal Reserve Committee’s announcement of no further rate hikes. However, the US rate-setting panel indicated that interest rates would remain elevated for an extended period, potentially delaying expectations of rate cuts. The yield on the benchmark 10-year government bond fell by three basis points to settle at 7.16 per cent, against the 7.19 per cent on Tuesday. Money markets were shut on Wednesday on account of Maharashtra Day. “The market was relieved that at least there won’t be any hike; that is why we could see some rally (price) today,” said a dealer at a state-owned bank. “Primary dealers were covering their short bets. On the selling side, it was public sector banks, and private banks had bought a lot in the last few sessions, so they were on the selling side too,” he added. Price and yield move inversely. * Global market action* Dow Jones – Up by 1.11% or 421.12 points FTSE – Up by 0.63% or 50.91 points CAC – Down by 0.88% or 70.28 points DAX – Down by 0.20% or 35.67 points Gift Nifty – Up by 0.44% or 101.00 points *FII/DII activities* FII – Sold 964.47 Cr worth of shares DII – Bought 1352.44 Cr worth of shares. *Stocks with high delivery Percentage* SKF India Ltd – 87.6% Eris Lifesciences Ltd – 87.2% Tube Investments of India Ltd – 86.2% JB Chemicals & Pharms Ltd – 86% Endurance Technologies Ltd – 83.9% *Primary market activities* IPO opening today Shone Infosystems Ltd (NSE SME) – Issue size 11.06Cr *Commodities updates* Gold – Rs 73190/10gm, Silver – Rs 80200/kg, Brcrude – Rs 6592/barrel, Copper – Rs 846.50/kg. *Corporate News* Coal India registers 18% growth in annual profit, tepid income rise. Adani Ports Q4FY24 results: Net profit rises 76% to Rs 2,040 crore. Godrej family begins process to untangle cross-holdings in listed entities.

Ready to hit 41.50🚀🚀