Stocks near 52 week high

Share to Twitter Share to Linkedin Roughly 11 months ago marked the launch point for the Federal Reserve’s tightening cycle, adding over four full percentage points to its target for the Federal Funds rate since March 2022 to a current upper bound of 4.75%. Notably, the level is the highest for the benchmark since September 2007, with the pace of Fed tightening virtually unprecedented. No doubt, many think the Federal Reserve hiking the Fed Funds rate should be a big headwind for equities, but seven decades of returns data show that stocks in general have performed admirably on average, both concurrent with and subsequent to increases (as well as decreases) in the Fed Funds rate. This is the case over 3-, 6-, and 12-month time spans, with Value Stocks leading the charge no matter the direction. Anticipation of significantly tighter monetary policy spurred higher rates across the various maturities of the yield curve. Of course, moves back into … [Read more...] about 2023 Value Stock Picks: Fed Punching A Hole In The Punch Bowl

Indian equity benchmarks ended mixed in yet another volatile session on February 2 despite the budget, presented a day earlier, being hailed as growth-oriented, as the selloff in Adani group stocks continued to roil the market. The 30-pack Sensex gained 224.16 points, or 0.38 percent, to close at 59,932.24, while the broader Nifty was down six points, or 0.03 percent, at 17,610.40. The market opened lower, with the Nifty slipping below 17,500 but recovered soon after and traded flat for most part of the session. Last hour buying, however, helped the Sensex to cross 60,000 and close near the level. "Despite a growth-oriented budget, drop in crude prices and upside in the global market, the domestic market is not able to gain because of the Adani saga having a ripple impact on the investors," said Vinod Nair, Head of Research at Geojit Financial Services. Premium valuations continue to weigh on the Indian market compared to other emerging markets, which are expecting upside … [Read more...] about Taking Stock | Sensex rises 224 points, Nifty ends flat in a volatile session

ITC Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × There's no stopping diversified conglomerate ITC's bull run. The stock is only 3 percent away from the Rs 400 mark and is trading at an all-time high. And, that too after taking a beating a day earlier after finance minister Nirmala Sitharaman in her Budget for 2023-24 announced a hike in National Calamity Contingent (NCCD) duty, only to recover swiftly and close in green. At 12.15 pm on February 2, the stock was quoting at Rs 381.30 apiece on the NSE, up 5.51 percent amid heavy volumes of 34.6 million shares. Earlier in the day, it had hit an all-time high of Rs 384.70 apiece. Follow our market blog for all the action Smoke signals Read More The stock corrected 6 percent as Sitharaman said the NCCD duty on cigarettes was hiked by 16 percent. The … [Read more...] about ITC nears Rs 400 mark; why costlier cigarettes are great news for shareholders

Bajaj Finserv PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook Highlights SBI has corrected sharply in past few days Earnings growth strong Valuation at below forward book value Asset quality cycle has turned favorable Increase in capex in budget will support credit growth Adani exposure will keep the stock volatile This week’s tactical pick is State Bank of India (CMP: Rs 528; MCAP: Rs 471,219 crore). SBI’s stock has corrected 14 percent in the past one month following the Adani group saga. Following the correction, SBI’s stock is trading at an attractive valuation. But then the low... … [Read more...] about Weekly Tactical Pick – A trust-worthy play on the economic recovery cycle

Share to Twitter Share to Linkedin Week in Review Asian equities started the week off lower and then rallied higher in the middle of the week as central bank rate hikes dominated market news, though China maintained its easing stance. January Manufacturing PMI, reported on Monday, was 50.1 versus expectations of 50.1 and December’s 47, while the Non-manufacturing (Service) PMI was 54.4 versus expectations of 52 and December’s 41.6. Both indicated an expansion, which was more pronounced in services. Baidu BIDU announced Tuesday that it would be rolling out a Chat GPT-like AI search feature. China’s currency rallied this week on reopening and an increase in demand for RMB-denominated assets. Friday’s Key News Asian equities had a strong night as India rebounded. Concerns of Adani’s implosion leading to a broader crisis lessened, though Mainland China and Hong Kong underperformed. Asia saw impressive equity performance overnight as Amazon … [Read more...] about Consumer Rebound Rolls On, Week In Review

Share to Twitter Share to Linkedin NextEra Energy Inc. stock (NYSE: NEE), a provider of electricity-related energy services, has declined by 11% over the last ten trading days (two weeks) and currently stands at around $74. Its principal subsidiary, FPL, is a rate-regulated utility engaged primarily in the generation, distribution, transmission, and sale of electric energy. Investors were underwhelmed by NextEra’s results and outlook for 2023. While Q4 operating revenue grew to $6.16 billion (up from $5.05 billion in the year-ago period), it missed analysts’ expectations for $6.3 billion in revenue. However, adjusted earnings grew by 24% year-over-year (y-o-y) to $0.51 per share and were above analyst expectations of $0.49 per share. Looking ahead, the company mentioned that it will continue growing at a healthy rate for a utility, albeit at a slower pace than last year. It anticipates adjusted earnings to rise in the range of $2.98 to $3.13 per share this year, … [Read more...] about NextEra Energy’s Stock To Likely Rebound After Falling 11% Over Ten Days

Share to Twitter Share to Linkedin Defensive Stocks Recent News The investing landscape in 2022 was notable not only for the severity of losses but also their breadth: It was the first year, since at least the 1870s, that U.S. stocks and long-term bonds both fell by more than 10%. As a result, investors have turned to defensive stocks. Defensive stocks are companies that generally hold up well in times of economic distress. The main defensive sectors are generally considered to be utilities, healthcare and consumer staples, all of which have outperformed the market in 2022. Even in a downturn, consumers continue to spend money on these products. As of December 29, the S&P 500 index’s utility stocks as a whole fell 0.5% in 2022, while consumer staples were down 2.7% in the period. This may seem poor, but the broader market fell roughly 20% during the year. Despite the better performance, cyclical sectors such as industrials and consumer … [Read more...] about Protect Your Portfolio With Defensive Stocks Like These

Share to Twitter Share to Linkedin Chinese search engine behemoth Baidu’s stock (NASDAQ NDAQ : BIDU IDU ) has witnessed a solid rally over the last month (about 21 trading days), gaining roughly 33%, compared to the broader S&P 500 which was up about 7% over the same period. Chinese tech stocks in general have fared well over the last several weeks, as China scales back on its stringent zero Covid-19 policy after over two years. This big re-opening of the Chinese economy should bode well for demand, overall, helping technology players. Moreover, there have been some factors specific to Baidu BIDU , as well. For one, the U.S.-based asset management company Blackrock disclosed that it had increased its stake in the company to 6.6% as of the last quarter, up from a previous ownership stake of 3.5%. Additionally, Reuters recently reported that Baidu had plans to roll out an artificial intelligence chatbot service similar to OpenAI’s ChatGPT. This, … [Read more...] about The Baidu Stock Rally Looks Set To Continue

Adani Enterprises along with other group companies have been in focus since a report from Hindenburg research alleging improper use of offshore tax havens and flagged concerns about the high debt and valuations of the seven listed Adani companies. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Share price of Adani Enterprises took a fresh knock on February 3, a day after it was placed under National Stock Exchange's Additional Surveillance Measure framework. At 10 am, the stock was trading at Rs 1,252.20 apiece on the NSE, down by 22 percent. The stock is now down close to 60 percent in the past five trading sessions. The ASM list is a list of securities that get monitored due to factors like price fluctuation, volatility, volume variance, etc. Also Read: NSE puts Adani Enterprises, Adani Ports, Ambuja Cements under ASM … [Read more...] about Adani Enterprises cracks further on selling pressure, group stocks under ASM

L&T’s stock price has remained firm. The reason is the strong revival in its core infrastructure business and the cyclical upturn in India’s capex cycle PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook Highlights Strong execution to drive growth in revenue Despite input price pressure, margins remain stable due to cost optimisation Strong growth in orders inflows and order in hand provide high visibility Stock is trading 21 times its fiscal 2024 earnings or at a 10% discount to SOTP value, at Rs 2,310 L&T is upbeat about revival and growth in India’s capex cycle. Both private and public capex or projects announced in fiscal 2023 reached multi-year highs and that is reflecting in its strong order book. In... … [Read more...] about Larsen & Toubro: On a high growth graph, stock loaded with value