Indian equities declined for a second session as investors stayed cautious despite easing geopolitical tensions. Sensex lost nearly 250 points and Nifty fell over 80, while analysts expect recovery if the index holds above the crucial 23,800 support level.
Nifty ended 80 points lower on monthly expiry, forming a bearish candle, but analysts maintained a positive outlook above the 21-DMA. They recommended ITC Hotels, Aptus Value Housing, Ather Energy and Solar Industries, citing bullish technical setups and breakout patterns.
Oppenheimer has downgraded major U.S. investment banks like Goldman Sachs and Morgan Stanley, citing limited upside despite a positive environment. The brokerage advises selling these large-cap banks and instead investing in alternative asset managers, whose shares have seen a significant sell-off. Oppenheimer believes investment banks are in the late stages of an expansionary cycle and suggests reallocating funds to commercial banks and alternative managers like Ares Management, Blackstone, and KKR.
Indian equities are showing signs of a potential rebound, with attractive valuations and improved currency stability, according to Deepak Gupta of JM Financial Asset Management. Sectors like manufacturing and healthcare are highlighted as promising, while caution is advised for oil & gas and IT services. Financials are seen in a 'sweet spot', and while EVs are inevitable, traditional automakers are not to be dismissed.
US stock markets are showing remarkable strength, with major indexes poised for their best quarterly gains in years despite global uncertainties. Investors remain optimistic about a continued bull run, with a recent dip in tech stocks potentially reversing as earnings season approaches.
The European Securities and Markets Authority has granted essential recognition to India's Clearing Corporation, putting an end to a prolonged dispute. This groundbreaking approval allows the Clearing Corporation of India Ltd (CCIL) to operate under the Reserve Bank of India's regulations, an important advancement for European banks. By signing a memorandum of understanding, this resolution avoids possible capital adequacy complications for those financial institutions.
Financial markets, despite perceptions of rationality, have historically succumbed to waves of greed and fear, from Tulip Mania to meme stocks. Edward Thorp's insights confirm that human emotions, not just technology, drive speculative bubbles. Understanding this recurring cycle of irrationality and focusing on fundamentals, diversification, and independent thinking are crucial for long-term investors to avoid costly mistakes and navigate market volatility effectively.
Tamil Nadu-based Stalwart People Services has filed its DRHP with Sebi to raise Rs 150 crore through a fresh issue of shares, alongside an offer for sale by promoters. The security, facilities management and staffing services company plans to use the proceeds for working capital, debt repayment and general corporate purposes.
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