Author: Supriya Jena

On Tuesday, Indian stock markets ended nearly the same, with some IT companies doing well. Investors were careful as they awaited important inflation data from both India and the United States later in the week. The main index, S&P BSE Sensex, fell just 1.59 points to finish at 81,510.05, and the Nifty 50 index dropped by 8.95 points, closing at 24,610.05.

Ajit Mishra, a Senior VP at Religare Broking, noted that the markets stayed steady, with mid-cap and small-cap stocks showing good signs. He advised traders to focus on specific stocks and consider buying unless the Nifty falls below 24,300.

In the U.S., stock markets were mixed as investors waited for important inflation numbers. Some major stocks fell, like Oracle, which dropped 8.4% after reporting lower profits despite good growth in its AI business.

Rupak De, a Senior Technical Analyst at LKP Securities, mentioned that the Nifty remained in a tight range between 24,500 and 24,650. If it drops below 24,470, it could lose another 200 to 250 points, while it faces resistance at 24,700 to 24,750.

The busiest stocks by value on BSE were Syngene International, ITI Ltd, and Tata Motors, while Vodafone Idea was the most active by volume.

Some stocks that saw strong buying interest included Raymond and Nippon Life AMC, while Life Insurance Corporation of India experienced selling pressure.

Overall, market sentiment was mixed, with 2,010 stocks declining and 1,963 gaining among the 4,093 that traded on BSE.

Disclaimer: The opinions and views expressed are from financial experts and don’t reflect the views of Niftystat.

During the Kennedy Center Honors, President Joe Biden and First Lady Jill Biden arrived to lots of applause but awkwardly ignored Vice President Kamala Harris. Despite standing right next to her and her husband, Doug Emhoff, the Bidens didn’t say hello or look at them when they walked in. Many people on social media quickly shared videos of this uncomfortable moment, pointing out how the Bidens even avoided making eye contact with Harris.

One popular social media account said, “Jill and Joe Biden are refusing to even look at Kamala Harris tonight,” and the video quickly got over 780,000 views.

People had mixed reactions online. Some made jokes, suggesting the Bidens may have voted for former President Trump, who recently won big against Democrats in the 2024 election. Others wondered why the once-hopeful Democrats seemed so unhappy, asking what had happened to their joy.

This awkward moment happened on a Sunday night during an event that celebrates artists who have greatly impacted the United States.

On Tuesday, Indian stock market indices stayed pretty much the same. Some well-known IT companies saw their shares go up, but many investors were being careful as they waited for important information about inflation coming from India and the United States later this week. The main stock index, S&P BSE Sensex, dropped only 1.59 points, finishing at 81,510.05. Meanwhile, the wider Nifty 50 index fell by 8.95 points, closing at 24,610.05, which is a tiny decrease of 0.04%

HDFC Bank has been making a big comeback! After facing some jokes and doubts due to a merger with its parent company, HDFC, its shares have soared by ₹3 lakh crore in just six months.

Once overshadowed by ICICI Bank, HDFC Bank is now outperforming its rival in recent months. Analysts believe that the bank is stronger after the merger and is set for steady growth. In the past six months, HDFC Bank’s stock price has increased by about 19%, making it the best-performing large private bank in India. Its stock even hit a new high of ₹1,880 recently, and its market value reached an impressive ₹14 lakh crore!

Many experts are optimistic, giving price targets as high as ₹2,550. Out of 40 analysts, none suggest selling the stock, and 28 recommend buying it strongly. For BNP Paribas, HDFC Bank is the top pick in the banking sector, even better than ICICI Bank.

In the September quarter, foreign investors bought a lot of HDFC Bank shares, increasing their stake by 0.85%. They spent about ₹11,000 crore on the bank. Retail investors, however, seem to have missed out, as they were selling their shares during the same period.

Recently, there has been more interest in HDFC Bank, especially after its increased index weight due to MSCI’s November changes. This attracted around $1.88 billion from passive investments.

HDFC Bank expects its loan growth for this year to be slower than the overall market but plans to grow faster in the following years. The bank’s loans are performing well despite some issues faced by smaller banks, making it a safe choice for investors. Market expert Sandip Sabharwal explains that when smaller banks struggle, people flock to quality banks like HDFC Bank.

Investors are also watching for good news with the upcoming IPO of HDB Financial Services, a subsidiary of HDFC Bank.

(Disclaimer: The opinions shared by experts are their own and do not represent the views of Niftystat