India's Nifty set to snap longest losing streak since Feb 2023; HDFC Bank, M&M lead gains
Adds chart, no changes to text
** Indian shares rebound from recent sell-off, in which benchmark indexes and the small- and mid-caps slippedinto correction
** NSE Nifty 50 .NSEI and BSE Sensex .BSESN rise ~1.3% each; all 13 major sectors log gains
** NSEI set tosnap seven-session losing streak, longest streak sinceFeb. 28, 2023
** Forty-two Nifty 50 stocks advance; heaviest stock HDFC Bank HDBK.NS gains 2.25%, powering markets higher
** Mahindra and Mahindra MAHM.NS, top gainer on Nifty 50, adds 3.6% to take Auto .NIFTYAUTO 2.2% higher
** CLSA reiterates "outperform" on MAHM, cites gains from transition to mid and premium SUVs from low-end SUVs
** Small- .NIFSMCP100 and mid-caps .NIFMDCP100 up~2% each
** Nifty slipped below 200-day moving average in the last two sessions before rising above the support level on the day
India's Nifty 50 set to snap longest losing streak in more than 20 months https://reut.rs/3UZx4uq
India Nifty 50 rises above 200-day simple moving average after two sessions https://reut.rs/40SIFze
Reporting by Bharath Rajeswaran in Bengaluru
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
