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Has bear 🐻 run started?
What sensational did you missed this week?
Nifty 50 has closed below 200 Daily Simple as well as Exponential Moving Average.
India’s GDP for the FY 2023 is estimated at 7%. GDP for 2021-22 has been revised to 9.1% from 8.7% earlier. As per IMF, India is estimated to contribute over 15% of global GDP growth this year.
A handful updates:
1. NSE has received final approval from SEBI to set up a Social Stock Exchange (SSE) as a separate segment on its platform. SSE will include companies working towards social welfare.
2. NSE launched Nifty India Municipal Bond Index – India’s first-ever.
3. NSE has extended the market trade timing for interest rate derivatives to 5 pm. The change will be effective from February 23.
What can you learn from this?
A closing below 200 Daily SMA and EMA implies a bearish signal and markets may take a downturn towards the downside from here. Exceptional cases might also be found.
GDP and stock markets are thought to be running in the same directions traditionally, but in the recent years, this corelation has changed. In the Covid era, where economies were shrinking, stock markets were on the rise.
Divgi TorqTransfer Systems Limited IPO closes today. It is subscribed 0.47 in total, 1.92 times in the Retail category while 0.06 and 0.31 times in QIB and NII category (at 10:45 AM 03.03.2023).
Video in Focus!
Market Outlook this coming week!
Nifty50 : This Week
Focused sector of the week : Cement Sector
In this Union Budget FY24, maximum budget allocation was for railways and roads which means massive demand for Cement industry in the years ahead.
Road transport and highways-26%
Ministry of housing and urban affairs-3%
Transfer to states-15%
Dalmia Bharat has posted stellar returns of 131% in the last two years, whereas, Ambuja Cements and ACC massively tanked in last one month because of the Hindenburg report
What’s going on in Dalmia Bharat?
Disclaimer: This is not recommendation to buy/sell. It is just for the purpose of information.
Question of the Week #6
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Free float market capitalization method:
Answer to Week#5 is IRDAI is Insurance Regulatory Development Authority of India
**Make sure you note your choices somewhere as we’ll covering the answers in our next issue…