The Nifty IT index was trading 0.05 per cent down at 38340.45.
"Market valuations are fine, 10 per cent higher than long-term averages," Prashant Jain said.
Γ’β¬ΕThe HoR of ICICIdirect.com says auto ancillaries, CRAMs, IT, telecom and retail sectors are expected to perform well next year and he would especially add more in case of telecom and retail.Γ’β¬Β
Promoters held 51.33 per cent stake in the company as of 30-Sep-2021, while FII and DII ownership stood at 17.17 per cent and 3.5 per cent, respectively.
The retail wave was the "main reason" global equity demand reached $1.1 trillion this year, JPMorgan strategist Nikolaos Panigirtzoglou said.
A total of 282,105 shares changed hands on the counter till 11:52AM (IST)
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that FPIs have turned negative on India since October 2021 and many foreign brokerages downgraded India from overweight to neutral and resorted to sustained selling.
It is estimated that LIC IPO could fetch nearly Rs 1 lakh crore.
The stock quoted a 52-week high price of Rs 41750.0 and low of Rs 26871.4.
The most common argument in favor of bank stocks remains the impending growth in loans as the economy heals from the scarring of the pandemic. With the corporate balance sheet also improving, investors see no reason to doubt the onset of a new investment cycle in the economy, which will require funding from banks.
Warning! Information Posting in this website is only for educational purpose. We are not responsible for losses incurred in Trading based on this information.