INDIRA SECURITIES - DAILY RUNUP

01?Feb, 2024

Nifty 50

23,508.40, ?+258.90

"Bull vs Bear: Volatility Ahead, Opportunity Awaits!"

The Indian equity market extended its rally, with the Nifty 50 soaring 258 points to close at 23,508, a level few anticipated just ahead of the Union Budget. The Sensex also surged, reflecting broad-based buying across sectors.

Sector Performance:?Top Performers: FMCG, Consumer Durables, Lagging Sectors: Pharma, Healthcare.

Global Indices

Sectorial View

Factors Affecting Most

• Tariff Impact on Stocks:?Trump is set to impose 25% tariffs on Canada & Mexico and a 10% duty on China, affecting companies with significant exposure to these regions.
• Economic Data: Personal Consumption Expenditures (PCE) Index – Rose +0.3% from November, at a 2.6% annual rate.

Market Barometer

Top Gainers

Top Losers

Daily Scoop

• Economic Survey:
• GDP Growth Projection: Estimated between 6.3% and 6.8% for FY26, marking the second consecutive year of sub-7% growth.
• Sectoral Performance: Trend analysis indicates all sectors are performing well, supporting a balanced economic outlook for FY26.

Stocks in News

• ONGC: Board approves acquisition of 1.15 crore shares of JV Mangalore SEZ from IL&FS for Rs 56 crore.
• Tata Power: Subsidiary signs memorandum of understanding with Rajasthan Discoms to accelerate rooftop solar adoption.
• Waaree Energies: Waaree Clean Energy Solutions receives notification of award from Solar Energy Corporation of India for setting up a 90,000 MT/annum green hydrogen production unit.

Nuggets

• Gold is up 32% and is on track for the best year in 45 years.

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