Stock Market Live Updates: Global trends and RBI’s interest rate move to drive stock market

Feb 5, 2024
stock-market-live-updates:-global-trends-and-rbi’s-interest-rate-move-to-drive-stock-market

Updated – February 05, 2024 at 07:43 AM.

Sensex, Nifty, Share Prices LIVE: This week’s stock market trajectory will be shaped by quarterly earnings reports from major index companies, global developments, and the Reserve Bank of India’s interest rate decision. Analysts emphasize the aftermath of budget announcements and the US Federal policy outcome. Foreign investors’ trading activity and Brent crude’s movements will influence equity trends. Key companies like Bharti Airtel, Power Grid, Nestle, Lupin, and Tata Power will unveil their Q3 results. Monitoring the rupee-dollar exchange rate, crude oil prices, and institutional investments will be crucial. With the US Fed and interim Budget concluded, focus intensifies on the RBI’s policy meeting. Despite last week’s positive performance, market players anticipate volatility, emphasizing earnings and the RBI meeting for guidance.

| Photo Credit: iStockphoto

tock Market Today | Share Market Live Updates – Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 5 February 2024.

ALL UPDATES

  • February 05, 2024 07:42

    Stock Market Live Today: Nifty reshuffle alert: BPCL´s position at risk

    While it is almost certain that UPL will be dislodged by Shriram Finance in the National Stock Exchange Nifty50 Index, the position of Bharat Petroleum Corporation (BPCL) could also be at risk. Brian Freitas of Periscope Analytics, an insight provider who publishes on Smartkarma, suggests a slim possibility that the staterun fuel retailer could get replaced by Bharat Electronics in the 50share benchmark index.

    Although Jio Financial Services, Zomato, and Avenue Supermarts (DMart) have higher freefloat market capitalisations than Shriram Finance and Bharat Electronics, they are ineligible for index inclusion as they are not part of the derivatives segment. 

    The review period for the March rebalance for Nifty indices concluded on January 31, and the announcement of changes will be made at the end of this month. — Himanshu Marfatia of Incred Capital 

  • February 05, 2024 07:40

    Stock Market Live Today:  A mixed bag in IPO GMPs: Apeejay soars, Capital SFB lags

    The grey market premiums (GMPs) for the four initial public offerings (IPOs) opening this week range between 0 per cent and 44 per cent. The highest demand is for Apeejay Surrendra Park Hotels, and the lowest is for Capital Small Finance Bank (SFB), while Jana SFB and Rashi Peripherals stand at about 25 per cent each.

    These four issues, set to cumulatively raise over ₹ 2,600 crore, follow the Interim Budget and the policy announcement by the US Federal Reserve, keeping some companies in wait-and-watch mode.– Himanshu Marfatia of Incred Capital

  • February 05, 2024 07:33

    Stock Market Live Today: Nifty´s potential soars: A 1,000-point rally ahead?

    The benchmark National Stock Exchange Nifty hit a record intraday high of 22,127 on Friday, surpassing its previous intraday peak from January 15. According to technical analysts at ICICIdirect, an over 1,000point rally in the index might be on the horizon.

    The retail brokerage said in a note, “Our composite model, with equal weights on general election year price behaviour, bull market corrections, and bottomup Nifty projection, strongly recommends buying the current decline for a target of 23,400 by June 2024.” It added, “In a general election year, Nifty tends to bottom out in February–March, followed by a minimum 14 per cent rally towards the general election outcome in each of the seven instances over the past three decades.” 

    — Himanshu Marfatia of Incred Capital

  • February 05, 2024 07:32

    Stock Market Live Today: Indian stock market all set for an election rally. Know why

    Key Points:

    – Provisional Budget Overview:

    – Provisional budget lacks growth-oriented objectives.

    – Conservative 11% increase in capital expenditure, contrasting with the revised target of 28%.

    – Market Anticipation:

    – Despite conservative budget, market anticipates a rally before the final budget in July.

    – Optimism driven by authoritative tone, commitment to forward-looking measures, and growing confidence in the government’s electoral prospects.

    – Key Statements in the Interim Budget:

    – Drastic drop in fiscal deficit to 5.1% in FY25.

    – Government’s commitment to adopt economy policies for growth.

    – Focus on unprecedented development in the next 5 years.

    – Priorities: Garib, Mahilayen, Yuva, and Annadata.

    – Vision of a developed India by 2047.

    – Market Dynamics and Risks:

    – Continuation of pre-election rally, but potential for high volatility.

    – Foreign Institutional Investors (FIIs) in sell-off mode, with increasing outflows in Asia.

    – India outperformed in CY23 due to lower selling and strong inflows from retail and mutual funds.

    – Earnings Growth and Valuation:

    – Lower-than-forecast Q3 results, especially in banking and IT sectors, leading to higher selling volumes from FIIs.

    – India trading at a premium valuation, but slowdown in earnings growth moderating valuation.

    – Impact of Interim Budget on Bond Yields:

    – Positive outcome with a reduction in bond yields.

    – Govt 10yr yield drops by 10bps to 7.05% on a larger-than-expected reduction in fiscal target to 4.5% in FY26.

    – Fiscal Deficit Concerns:

    – Sharp decrease in fiscal deficit may imply reduced government spending for FY25.

    – Government targets efficiency improvements for ambitious fiscal targets.

    – Commitment to Growth Measures:

    – Interim budget seen as somewhat conservative, but promises unprecedented growth measures in the final budget.

    – Commitment to introducing relevant economic policies and emphasizing key priorities.

    The market remains cautiously optimistic, balancing positive signals from the interim budget with potential challenges and uncertainties, particularly in the context of global investor sentiment and economic conditions . — Himanshu Marfatia of Incred Capital

  • February 05, 2024 07:29

    Stock Market Live Today: Why should investors book profits in Gujarat Fluorochem?

    We recommended that investors buy the stock of Gujarat Fluorochem (GFCL) in December 2022, then trading at 24 times one-year forward earnings (FY24). The stock has since delivered 28 per cent returns and is now trading at even higher forward earnings of 40 times FY25 expected EPS.

  • February 05, 2024 07:28

    Stock Market Live Today: Reality Check: Jewellery stocks: Festive demand boosts revenue

    Over the past year, the jewellery stocks have given a stellar performance, comfortably beating the benchmark Nifty 50

  • February 05, 2024 07:24

    Stock Market Live Today: Index Outlook: Sensex, Nifty 50: Sideways consolidation possible

    Contrary to our expectation to extend the fall, the Indian benchmark indices witnessed a strong bounce back last week. Nifty 50 and the Nifty Bank index had closed over 2 per cent. Sensex was up 1.96 per cent. However, on Friday, the benchmark indices had come down sharply from their intraday highs. This leaves a doubt on the strength of the bounce witnessed last week.

  • February 05, 2024 07:18

    Stock Market Live Today: Meta, Nvidia, Microsoft, Amazon, Apple, Alphabet and Tesla: Do the ‘Magnificent 7’ still have fire power?

    While valuations are expensive, they are not as frothy as they were in the dotcom boom

  • February 05, 2024 07:14

    Stock Market Live Today: Here are key developments that could provide more direction to markets on Monday

    – China Caixin services PMI (January)

    – Indonesia GDP (Q4)

    – Australia trade (December)

    Significant geopolitical developments:

    1. U.S. Strikes in the Middle East:

    – The United States intends to launch further strikes at Iran-backed groups in the Middle East. Recent attacks targeted Tehran-aligned factions in Iraq, Syria, and Yemen.

    2. Attacks Against Houthi Targets in Yemen:

    – The U.S. and Britain conducted attacks against 36 Houthi targets in Yemen, following the U.S. military’s strikes on Tehran-backed groups in Iraq and Syria. This action is a response to a deadly attack on U.S. troops in Jordan.

    3. Ongoing Conflict in Gaza Strip:

    – Palestinian gunmen continue to launch attacks against Israeli forces in the Gaza Strip. Despite recent military interventions, there is still persistent fighting in Gaza City and Khan Younis.

    4. Wildfires in Central Chile:

    – Wildfires in central Chile have resulted in at least 99 casualties, with hundreds still missing. President Gabriel Boric characterized the situation as a “tragedy of very great magnitude.” The fires are threatening Vina del Mar and Valparaiso, two coastal cities with over a million residents.

    5. – Heavy rainfall and hurricane-force winds hit storm-battered California. Second Pineapple Express weather system in the past week. Severe conditions prompt a rare hurricane-force wind warning for Big Sur and nearby areas. The storm coincides with the Grammy Awards in Los Angeles. Concerns about power outages, flooding, and mudslides.

  • February 05, 2024 07:13

    Stock Market Live Today: A look at the day ahead in Asian markets.

    The provided information outlines key factors that will likely influence Asian markets, providing a comprehensive view of the economic landscape and potential challenges in the Asia & Pacific region. Let’s delve deeper into the potential implications:

    1. Impact of U.S. Employment Numbers:

    – Strong U.S. employment numbers are expected to have a positive impact on Asian markets, following Wall Street’s lead. This reflects global interconnectivity and the influence of U.S. economic indicators on international financial markets.

    2. Treasuries and Bond Yields:

    – Heavy selling in Treasuries has led to a ripple effect across Asian debt markets, particularly affecting government bonds in Australia and New Zealand.

    – The rise in yields on Australian and New Zealand bonds suggests a reevaluation of interest rate expectations, possibly due to the robust U.S. jobs report.

    3. Fed Policy Clues:

    – Investors are closely watching for further clues on Fed policy as Chair Jerome Powell appears on CBS’s 60 Minutes. Any insights provided during this interview could impact market expectations and investor sentiment.

    4. Oil Market Focus:

    – Recent U.S. and UK strikes against Houthi targets have heightened focus on oil markets. The Iran-backed Houthis’ vow to respond adds geopolitical risk, potentially impacting oil prices, including West Texas Intermediate.

    5. Key Economic Indicators:

    – Monday’s scheduled economic indicators, including PMI figures from China and Japan, Indonesian GDP, Thai inflation, and Australian trade data, will be crucial for understanding the economic health of the region. These indicators can influence market sentiment and investment decisions.

    6. Tech Earnings and Market Momentum:

    – The S&P 500 and Nasdaq reaching new highs due to strong tech earnings may contribute to positive momentum in Asian markets. Tech sector performance often influences broader market trends.

    7. Concerns over China’s Economy:

    – China’s CSI 300 index’s significant weekly decline, coupled with the IMF’s warning of potential slowing growth and U.S. allegations against Chinese companies, introduces uncertainties and potential challenges for the region.

    8. Dollar Strength and Bond Yields Impact:

    – The rebound of the U.S. dollar and rising U.S. bond yields could have implications for global financial markets, impacting currencies and capital flows in the Asia & Pacific region.

    9. Political and Trade Tensions:

    – Ongoing political and trade tensions, including potential tariff threats from Donald Trump, introduce an element of uncertainty. Investors will monitor developments closely for potential market reactions.

    10. Investor Sentiment and Actions:

    – Despite concerns, positive signs of investor sentiment, such as record inflows into Chinese stocks and increased hedge fund buying, suggest confidence in the market.

    11. Regional Economic Developments:

    – Indonesia’s expected GDP growth and Thailand’s pressure to cut its policy rate amid low inflation highlight the diverse economic situations in the region.

    Investors will closely watch how these factors play out to gauge the overall market direction and potential risks in the Asia & Pacific region. The diverse economic indicators provide a nuanced view of the challenges and opportunities facing different countries in the region

    Source: InCred Capital

  • February 05, 2024 07:12

    Stock Market Live Today: Key events this week

    • China Caixin Composite PMI, Monday

    • India: HSBC India Composite, Services PMI

    • Eurozone S&P Global Services PMI, PPI, Monday

    • Australia rate decision, Tuesday

    • Eurozone retail sales, Tuesday

    • Germany factory orders, Tuesday

    • Poland rate decision, Wednesday

    • Thailand rate decision, Wednesday

    • Cleveland Fed President Loretta Mester and Philadelphia Fed President Patrick Harker speak, Tuesday

    • Fed Governor Adriana Kugler, Richmond Fed President Tom Barkin speak, Wednesday

    • Bank of England Deputy Governor Sarah Breeden speaks, Wednesday

    • CPI data for Brazil, China, Chile, Mexico, Russia, Thursday

    • US initial jobless claims, Thursday

    • US Treasury Secretary Janet Yellen speaks at a Senate banking committee hearing, Thursday

    •u0009Pakistan general election, Thursday

    • ECB Chief Economist Philip Lane, ECB Governing Council member Pierre Wunsch speak, Thursday

    • European Central Bank publishes economic bulletin, Thursday

    • Canada unemployment, Friday

    • China aggregate financing, money supply, new yuan loans, Friday

    • Germany CPI, Friday

    • Australian Reserve Bank Governor Michele Bullock delivers parliamentary testimony, Friday

    Source: Incred Capital

  • February 05, 2024 07:10

    Stock Market Live Today: bl.Today’s pick: Stock to buy or sell: February 5, 2024

    Here’s an interesting stock idea; check out the latest bl.Today’s Pick episode to learn more.

  • February 05, 2024 06:57

    Stock Market Live Today: Paytm puts its wallet biz on the block 

    Paytm’s wallet business could perhaps be the first victim of the Reserve Bank of India’s strict ban on the Paytm Payments Bank imposed on January 31, 2024. Housed under Paytm Payments Bank, highly placed sources say the company is in exploratory talks with a few interested investors to sell the wallets business. HDFC Bank and Jio Financial Services are said to be among the forerunners to acquire the same.

  • February 05, 2024 06:54

    Stock Market Live Today: FMCG firms report single-digit volume growth with better margins in December quarter

    Fast-moving consumer goods (FMCG) companies have reported single-digit volume growth with improved margins in most segments during December quarter, helped by moderating commodity inflation, though operating environment remained challenging.

    Some of the companies also reported a decline in their topline numbers, as they extended the benefits of softening commodity prices to the consumer by lowering the prices, which had a bearing on their gross sales numbers.

    Companies such as HUL, ITC, Marico, Dabur, and Godrej Consumer Products said urban markets continued their moderate growth, while consumer demand from rural India remained subdued even as they expect an improvement in coming quarters.

  • February 05, 2024 06:50

    Stock Market Live Today: Mcap of eight of top-10 most valued firms climb ₹2.90 lakh crore; Reliance shines

    The combined market valuation of eight of the top-10 most valued firms climbed ₹2.90 lakh crore last week, with Reliance Industries emerging as the lead gainer, amid optimism in equities.

    Last week, BSE benchmark Sensex jumped 1,384.96 points or 1.95 per cent.

    From the top-10 pack, Reliance Industries, Tata Consultancy Services, HDFC Bank, ICICI Bank, Infosys, LIC, State Bank of India, and Hindustan Unilever were the gainers, while Bharti Airtel and ITC faced erosion of their valuation.

  • February 05, 2024 06:49

    Stock Market Live Today: SEBI may tighten rules for algo trading

    The market regulator may look to regulate algo platforms and make it mandatory for brokers to get approvals for algo strategies used by clients, said two people familiar with the matter.

    Some platforms that offer algo software and strategies include Tradetron, AlgoBulls, Algobaba and Robo-matic. Both algo platforms and algo strategy providers may have to register with SEBI, similar to an investment adviser or research analyst. An exam may be mandated for algo strategy providers. The returns claims of such providers may have to be substantiated through a Performance Validation Agency (PVA).

  • February 05, 2024 06:47

    Stock Market Live Today: Five companies’ IPOs are set to hit market this week

    India’s primary market continues to be red hot, with four mainboard initial public offerings (IPOs) and one small and medium enterprise (SME) platform-related offering set to hit the market this week to mop up about ₹2,700 crore.

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