- With new data casting doubt on early US rate reduction in 2024, global equities stayed muted.
- Brokerages are keeping a close eye on several equities as Dalal Street prepares for the January 5 session.
- TCS is scheduled to open India Inc.’s corporate earnings season on January 11.
Before the start of the quarter’s results next week, the benchmarks for local equities, the Nifty 50 and Sensex, began higher on January 5. With new data casting doubt on early US rate reduction in 2024, global equities stayed muted.
Jan. 5 marked the announcement of the FY24 third-quarter business report by HDFC Bank, the largest private sector bank in the nation. With a growth of about 64.4% from Rs 15,20,500 crore in the previous year and an increase of approximately 4.9% over Rs 23,54,600 crore on a sequential basis, the lender’s gross advances shot up to about Rs 24,69,500 crore in the third quarter that concluded on December 31, 2023.
IT Sector
Traders Siddharth Sedani, Kunal Saraogi, Rajesh Palviya Sacchitanand Uttekar, and Sumeet Bagadia discuss their best stocks in this special Pick of the Day segment. The stocks of Bandhan Bank, AU Small Finance Bank, Bharti Airtel, Britannia Industries, and Bajaj Finance are among the top experts’ “buy” lists.
Brokerages are keeping a close eye on several equities as Dalal Street prepares for the January 5 session, including Infosys, TCS, Coforge, HCL Tech, ONGC, GAIL, and Hindustan Aeronautics.
After a fantastic run in December 2023, Jefferies, Morgan Stanley, Citi, CLSA, and UBS are still bullish on the industry. On January 5, Macrotech Developers (LODHA) stock shot up to a record high on the strength of a positive business report covering the October–December period.
The biggest IT business in India, Tata Consultancy Services (TCS), is scheduled to open India Inc.’s corporate earnings season on January 11.
