Analysis & Recommendations to keep you ahead of the traders pack.
This week market stayed extremely bullish with Nifty 50 breaking its resistance constantly for the last 5 days in a row thanks to the positive momentum resulting from the health of trump moving to decrease in number of Covid-19 cases India inspired confidence among the investors and Financial Institutions alike.
Nifty 50 – 11,914 (3.25%)
First day of today’s stock market opened at 11,587 only to move up and close at 11,914 on Friday’s market close making an up-move of 3.25%.
Nifty stayed strong through the week despite of some negatiive news in the market.
Recommendation’s summary for last week
- 05/10/2020 – Market stay’s positive TCS announces stock buy back 6% making TCS touch 52 week high .
- Britannia Announces 1:1 bonus.
- 06/10/2020 – SBI appoints Dinesh Kumar Khara as their chairman.
- Reliance gets investment of over 5k Crore from Abu Dhabi Invetment Authority.
- Vedanta has secured $3.15 Billion Debt funding for the purpose of desisting.
- 07/10/2020-Titan announces their jewelry business has gained momentum.
- TCS Q2 results are out profit plunges 7%.
- Infosys says it is considering to buy back as well.
- 08/10/2020– Union Minister Ram Vilas Paswan Passes away.
- Amazon furious as it calls Reliance and Future Group deal breach of contract.
- 09/10/2020 – Vedanta’s desisting fails.
As the market stayed strong our recommendations performed positive this week especially after the PM Narendra Modi’s speech at the investors summit made focused on Pharma,Reality and I.T sector made HDFC and Inforsys rise by 8-9 % respectively. Overall Vedanta is a long term hold but it will surely take some hit so as a short term investment it could be hit by the the promoters not able to get the 90% of the shares.
Our Recommendations For the Week
|Company Name||Price to buy||Date||Market Cap in Cr||P/E|
FII AND DII WEEKLY OVERVIEW
There was a strong positive sentiment among FIIs. Especially during the start of the week eventually taking a negative net position on Friday.