India Market Close | Nifty, Sensex Gain In Trade | NDTV Profit

Summary

The video script discusses market trends focusing on the surge in sugar stocks due to the Union Minister's statement on ethanol blending targets, and the performance of insurance companies amid new surrender value norms. It also touches on the potential of the defense sector following the new defense minister's emphasis on domestic manufacturing and exports. Additionally, the script covers expert analysis on Nifty and Bank Nifty indices, highlighting key support and resistance levels, and provides stock picks from various sectors including sugar, housing finance, and defense.

Takeaways

• 📈 The PM story related to Samsung wallet and PM services is considered fascinating, but its impact on the market is uncertain.
• 🍬 Sugar stocks like Shri Ruka, Balrampur Chini, and Mavani Sugar are performing well due to a statement by Union Minister Hardeep Puri about the ethanol blending target being on track.
• 💹 Nifty is holding around 23,300 level, with major resistance at 23,400 and 23,500, suggesting a consolidation phase for the index.
• 📊 Bank Nifty has a major supply zone at 50,000, and the broader market shows buying interest in various sectors.
• 🚀 Stocks like UPL and ICICI Prudential are recommended for their bullish trends and potential upside targets.
• 💧 The defense sector, including companies like BDL and Garden Reach, is seeing a boost from the new Defense Minister's focus on domestic defense manufacturing and export promotion.
• 🌧️ Sugar companies may face headwinds due to political sensitivity around pricing and potential high production volumes.
• 🏦 HDFC Life and other life insurance companies might be affected by the new surrender value norms, which could lead to reduced commissions and lower margins.
• 🏘️ Housing finance companies are gaining attention, with Adar Housing Finance being highlighted for its strong asset quality and growth prospects.
• 🔄 The market is experiencing a mix of gainers and losers, with a positive bias overall, and sectors like IT, sugar, and insurance are in focus.

Q & A

What is the recent development involving PM services and Samsung wallet?

PM services are going to be available to those using Samsung wallet, which could potentially impact the number of subscribers and the performance of PTM stocks.

Which sugar stocks are mentioned in the script, and how are they performing?

The sugar stocks mentioned are Shri Ruka, Balrampur Chini, and Mavana Sugar. They are all performing well, with Shri Ruka experiencing an 11% increase.

What is the statement by Union Minister Hardeep Puri regarding ethanol blending?

Hardeep Puri, the Union Minister, stated that the target for 20% ethanol blending by 2025 is on track, which is expected to boost sugar stocks.

What are the technical levels for Nifty and Bank Nifty mentioned in the script?

For Nifty, the support level is at 23,300 and resistance levels are at 23,400 and 23,500. For Bank Nifty, the major supply zone is placed at 50,000.

What is the impact of the new surrender value norms on life insurance companies?

The new surrender value norms are likely to have a negative impact on life insurance companies in the near term, as they may have to pay more and could face more surrenders.

What are the top stock picks mentioned by Rajesh Palve from Access Securities for the afternoon?

The top stock picks mentioned are from the Sugar Space, UPL, and ICICI Prudential. The first stock from the Sugar Space has a target of 415 with a stop loss at 384. UPL has a target of 575 with a stop loss at 552. ICICI Prudential has a target of 615 with a stop loss at 586.

What is the current market context according to Dmesh of Chola Securities?

The market context is bullish, driven by strong liquidity which is expected to continue for at least five to six months. The focus is on stock-specific action and sectors showing buying interest.

What is the outlook for sugar prices and exports according to Atul Chatur from Shri Ruka Sugars?

Atul Chatur believes that the monsoon has been good, and despite some loss in Maharashtra, higher yields and recoveries are expected. He suggests that the government should release about 1 to 1.5 million tons for exports to reduce inventory levels.

What are the concerns for sugar companies despite the positive news?

The concerns for sugar companies include the politically sensitive nature of sugar prices and the potential for higher FRP and MSPs, which could negatively impact them. Additionally, if there is a large supply and production, it may limit better realizations for sugar producers.

What are the short-term trading opportunities in the sugar pack according to Rajesh?

Rajesh suggests DCM Shriram and Praj Industries as attractive short-term trading opportunities. Praj Industries can be bought despite its rise, targeting 740-750 with a stop loss at 40 rupees. Bajaj Hindustan is also seen as a potential for further upside with a target towards 45 and a stop loss at 40 rupees.