- 3 days ago
Adani stocks led the rally on Thursday following Sebi's dismissal of Hindenburg Research allegations. Experts say this could mark the start of renewed market optimism.
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NewsTranscript
00:00Good afternoon and welcome to the market closing show.
00:29Our brand new collab show between Business Today and India Today Television.
00:32I'm Sakshi Batra and it's 3pm and we're here to get you all the market closing action.
00:36First up, let's take a look at what's hot in the corporate and the financial space.
00:46Stock markets pause after a three-session rally as profit booking kicks in.
00:50Sensex tumbles 400 points to 82,600-odd mark while the Nifty also slips 100-odd points to near 25,300 mark
00:59after gains that were driven by U.S. Federal Reserve's rate cut hopes and India-U.S. trade progress.
01:04PSU banks are on fire. Index hits a one-year high.
01:14PNB, Canara Bank, Yuko, Union Bank are leading the gains while IT stocks drag.
01:19IHCL Tech and Cofort slip in trade.
01:21Adani stocks soared up to 10% as SEBI gives the group a clean chit in the Hindenburg case.
01:32The rally adds 75,000-odd crore rupees to investors' wealth,
01:36taking the overall group's market cap to nearly 15 lakh crore rupees.
01:40Gautam Adani is richer by 40,000 crore rupees in a single day.
01:44Air India Ahmedabad crash is under scrutiny.
01:52Plea has been filed in Supreme Court seeking the release of complete data retrieved from the 787 Dreamliner aircraft.
01:58Petition also raises doubts over the preliminary report that's been issued by the Ministry of Civil Aviation.
02:04Also highlights that the report does not include the account of sole surviving passenger.
02:08In the world of IPOs, GKEnergy's IPO is fully subscribed within three hours on day one.
02:17The EPC firm aims to now raise 464-odd crore rupees via fresh issue and an offer for sale as well
02:24at a price span of 145 to 153 rupees per share.
02:33Let's straightaway talk about the markets in the last half an hour of the trading day and the week.
02:38Remember, this week has also panned out to be a pretty strong one,
02:42but we are ending with some profits being taken off at the table as well.
02:45The Nifty is currently hovering near 25,315-odd levels, about 0.4% of a loss on that one.
02:52What's pulled down the index is the heavyweight banking space.
02:55Private banks, financial services are down in trade.
02:58Even the Nifty Bank is trading with slight losses in the trade today.
03:01But you're also looking at the IT pack apart from the heavyweight banks
03:05that are also dragging the sentiments at this point in time.
03:08Consumer durables, autos and FMCG.
03:11Remember, these are the three big sectors that are being seen as big beneficiaries of the GST cards.
03:16Are also seeing a lot of profits being taken off the table
03:19right after many days of a rally and a run-up that we have been seeing.
03:22Remember, Monday onwards is when we are going to be again focusing on these sectors.
03:27The top sectors, however, in trade today are PSU banks that are, you know,
03:32the index is up by about 1.2%.
03:34Real estate is also cheering with 0.6% of a move on the higher side.
03:38Pharma, oil and gas, metals are also shining bright.
03:41And some gains are also being seen on the broader markets.
03:43Top movers today are from the Adani pack.
03:46You can see Adani Enterprise is nearly 5% high in trade.
03:49Remember, last evening, Sebi's comments that they are completely giving a clean chitch to the Adani group
03:54and some of the top officials from any kind of allegations that were put by the Hindenburg Research Company
04:00on the misrepresentation, frauds, insider trading.
04:04All of those allegations have been found baseless and Sebi has given a clean chit.
04:09And therefore, you've seen the Adani group stocks rally up to 12-13% in the intraday trade today.
04:14So, Adani Enterprise is the top mover.
04:16Indusin Bank, SBI Live, Sriram Finance and Bharti Aytel are the other top movers at this point.
04:21But let's welcome our guest on board.
04:22Sharmila Joshi, market expert, is now joining in to share with us her views as far as the markets are concerned.
04:27Sharmila, warm welcome. Good afternoon to you.
04:30Your sense on how are you looking at the markets?
04:32We've already had a lot of tailwinds by way of the announcements on the GST rationalization.
04:36And now there are hopes that at least the debt lock that was being seen between U.S. and India on the trade talks
04:42may also resume soon.
04:43All right, I think we'll just connect again with Sharmila once she's with us
04:53and try to understand from her what is her view in the markets.
04:55But let me quickly also help you understand the top Adani group stocks that are buzzing in trade.
05:00We've already marked out Adani Enterprises for you.
05:03Adani Ports is also trading high in trade.
05:05Look at Adani Power, almost what, 11.3% of a move on the higher end.
05:10You can see Adani Energy, Adani Green Energy Solutions.
05:13You can also see Adani Ambuja Cements for that matter.
05:16That also comes in the Adani Fold, even Adani Total Gas.
05:19All of the stocks are actually buzzing in trade.
05:22So the entire pack is actually cheering this fresh move by SEBI
05:26and is hoping for a renewed sense of optimism across the board.
05:30In fact, brokerage houses are also betting big on the Adani group stocks.
05:35We have seen a lot of brokerage houses pencil in much higher targets for a lot of group stocks.
05:39Look at Motilal Oswal's report that is penciled in an over 50% of an upside
05:44for the flagship company Adani Enterprises from the current levels as well.
05:48And that's what we are given to understand.
05:50But I think Sharmila is back with us.
05:52Sharmila, coming back to you, how are you looking at the markets
05:55right ahead of the festive season that starts Monday?
05:58I think we are nicely voiced.
06:00Yes, today there seems to be some amount of profit booking.
06:03But I think, you know, two things you really need to sort of keep in focus.
06:07One is that you're hearing after a long time sort of positive signals
06:10from both the US side as well as the Indian side
06:12as to, you know, that the tariff situation may ease up going ahead.
06:17And that now you're talking in weeks that you will have a solution.
06:21So I think that's good news, number one.
06:23And secondly, I think we are now looking at earning season.
06:27The earning season, let's not forget, is at the back of the fact
06:30that the US has had a rate cut.
06:32So you are expecting to see some kind of interest anyway in the financial space.
06:37And I think numbers will be better given that, you know,
06:40the kind of movements that we've seen both from the government
06:44as well as our rate cuts, etc.
06:46So I think October will be an exciting month because you will start seeing numbers
06:51by another maybe once you get into October, another 10 days.
06:55So, you know, another couple of weeks time, we'll start seeing numbers.
06:58So we'll start preparing for that.
07:01So honestly, I think, you know, that kind of optimism along coupled with
07:05festivature should see us on a better note.
07:09Absolutely.
07:10Sharmila, are you penciling in higher earnings growth also for the, you know,
07:15Nifty in companies for that matter?
07:17We've been seeing many quarters of single digit growth that we've been seeing.
07:20Do you think double digit growth could soon come in from Q2 or Q3 onwards now?
07:25No, maybe not this quarter, but I think you will certainly start hearing,
07:30you will start seeing managements being a lot more optimistic.
07:33So maybe in the financial space, you could see some improvement in numbers.
07:36But in some of the other sectors, you know, for instance, autos,
07:38I think, you know, the kind of pullback that we've seen in some of the auto names
07:42certainly seems to suggest that with what is happening with GST
07:45and all the companies passing down the price cuts to buyers
07:51and the fact that numbers there have been sluggaged.
07:55So, you know, the good monsoons, improved volumes for FMCG companies,
07:59improved volumes for consumption names like autos, etc.
08:04could put some kind of cheer back in the market
08:06and possibly you could start hearing some forward-looking statements
08:10from managements as well.
08:12Any key stocks from the auto basket that you are betting big on right now, Sharmila?
08:18Well, not betting big, but I do like Hero Motors.
08:20Actually, I like all the three two-wheelers.
08:23I personally own TBS Motors.
08:25But I think Hero Motors has not had the best year and a half
08:28and now I think numbers are getting back on track for them.
08:31So purely from a valuation perspective, I think Hero Motors.
08:35Okay, fair point.
08:36Sharmila, hold that thought.
08:37I'll come back to you with respect to more sectors
08:40and more opportunities for investors that you are scouting for
08:43in the upcoming festive season as well.
08:45But remember, viewers, this is an important news update
08:48that's coming in by way of Air India's Ahmedabad crash
08:51that we had all seen months ago.
08:54And this case is again under scrutiny as the Supreme Court,
08:58there's a plea that seeks full disclosure of the data
09:01from the 787 Dreamliner.
09:03The petition also now flags gaps in the Ministry of Civil Aviation's report,
09:07including the sole survivor's account as well.
09:09For more details on this, I'm now joined by my colleague,
09:11Anisha Mathur, who has more on this.
09:13Anisha, first up, tell us who has written this plea
09:17and, you know, what is the key demand there?
09:19Well, Takshi, this is a petition that has been filed,
09:22a PIL by the NGO Safety Matters Foundation.
09:25And what they are saying is that the aircraft,
09:29the DGCA report that has come out so far,
09:32the Ministry of Civil Aviation report that has come out so far,
09:35is lacking in certain key details.
09:38They have said that, they have raised certain points.
09:41They are saying there is selective disclosure of cockpit voice recordings.
09:45There seems to be some failure to address known technical vulnerabilities
09:48and the report has not conducted proper inspections.
09:54It has failed to scrutinize certain lapses.
09:56It is also saying there is unexplained destruction
09:59of the enhanced aircraft flight recorder,
10:02suppression of the survivor testimony,
10:04the sole survivor of this plane crash.
10:07His testimony is not included.
10:08So, therefore, they have said that there is a conflict of interest
10:11in the investigation team
10:12and there must be an independent inquiry under the Chicago Convention.
10:16So, we will have to see when this matter comes up
10:18before the Supreme Court
10:19because, for now, this matter has very recently been filed.
10:22There is no date for hearing in the Supreme Court just yet.
10:25Fair point.
10:26Thanks a lot, Tanisha, for that update.
10:28And please do keep an eye out on that.
10:29This is of importance
10:30and we would love to hear back from you
10:32once this is definitely listed for the court hearing as well.
10:36Viewers will now come back to the markets.
10:38It's the other segments that are definitely catching the attention
10:40like I mentioned in the top news
10:41as well as the Adani Group stocks
10:43that have been sharing this fresh clean chit from SEBI
10:48that has cleared the entire group
10:50and several of the companies
10:52as well as top executive officials
10:53of any kind of violations or fraud or misrepresentation
10:59that those allegations that were made in 2023
11:02by Hindenburg Research Company as well.
11:05Coming back to Sharmila to try and understand from her
11:08what exactly is her thought process
11:09post this clean chit on the Adani Group stocks.
11:12Most of the stocks are mixed
11:13when we talk about the kind of returns they have given
11:16or how they are trading at
11:18vis-Ã -vis the pre-Hindenburg case report in 2023.
11:22How are you looking at the entire group?
11:23Today we've been seeing a celebratory action
11:26celebratory kind of a reaction across the board.
11:29I think 12-13% odd is the kind of move on many of the stocks
11:33is what we have already seen.
11:34But is there more steam left?
11:35That's also one of the questions that one of our viewers
11:38Sachin Pawar from Nashik has asked you as well.
11:42So very honestly, I think one thing that we need to remember
11:44is that when this sort of incident happened
11:47the market was in a very different mood
11:49and different space than what it is now.
11:51So we are reacting to two very different markets.
11:54And in the interim, my opinion really has been
11:56that you need to react to these stocks
11:58as you would to, you know, without this sort of
12:01the corporate governance sort of cloud hanging over it
12:05and keep that as something that
12:08some news that you need to keep track
12:10because these things play out over a period of time
12:12as we have seen.
12:13So I think my view remains the same.
12:15You need to, apart from,
12:17you will see some recovery as a group,
12:19but I think going forward,
12:20you need to evaluate each of these stocks
12:22for their own merit, you know,
12:25and whether you like the stock at current valuations or not.
12:27So to make my point,
12:30I think I like Adani Enterprise at this level.
12:33Adani Enterprises.
12:35Okay, got that.
12:35That's a key choice there.
12:37But, you know, talking about the entire
12:39festive spirit, the consumption boost
12:42that we are all looking forward to as well.
12:45You've already marked out some of the auto stocks
12:47that you're looking at clearly there.
12:49Apart from the autos,
12:50are you also looking at the other themes
12:53like consumer durables, for instance,
12:55FMCG as well,
12:57because of our daily essentials
12:58that are now attracting either 0%
13:01or as low as 5% GSE rates.
13:04How are you looking at the pure play,
13:06consumer staples and consumer discretionary?
13:09So, very positively.
13:11I think two stocks that sort of benefit a lot from
13:15and good, great stocks are both Britannia
13:17as well as Nestle.
13:18I think for Britannia,
13:19almost 70-80% of their revenue
13:21is impacted by this cut in GST.
13:23So that's great news for them.
13:24Nestle, again,
13:25big percentage of their revenues
13:26feels the positive impact on GST.
13:29And to just couple it
13:30with what I said a little while earlier,
13:32FMCG companies have not been seeing the best run
13:35because you've seen sort of volume growth drop
13:38and rural demand drop.
13:40So now I think post-monsoon
13:41and post sort of this GST cut
13:45and maybe prices coming down,
13:46you would expect to see
13:48some kind of an improvement in volumes
13:49and that will definitely be good news for FMCG.
13:52Another consumption space that I really like
13:54is I like Trent a lot at this level
13:56and I also like Monasa Consumer
13:58as well as Nica.
14:00Trent, I think, you know,
14:01the way they have sort of repositioned themselves,
14:03reimagined themselves
14:04and have become a passion choice
14:05for young women.
14:07I think that is commendable.
14:09The way Westside and Zudio stores
14:10have performed is,
14:12you know, all of us have seen it.
14:14Also, Monasa, I think, you know,
14:15with the brands that they have
14:16under their brand
14:17and Nica being, you know,
14:19an aggregator for a lot of these
14:21good makeup brands.
14:22So I think there's a lot of room left in these
14:24and I don't know
14:26whether market is properly evaluating
14:29the kind of potential
14:30that there is in this space.
14:33Fair point.
14:34And so a lot of these e-marketplaces,
14:36quick commerce zones
14:37is something that you're looking at.
14:38Retail giants as well.
14:40And, you know,
14:41talking about the same festive spirit,
14:43especially,
14:43we are going to be seeing
14:44the big bank sales
14:45on e-commerce companies as well.
14:47So right ahead of the Amazon
14:48Great Indian Festival sale
14:50that starts on September 23rd,
14:52Business Today speaks to Karan Shook,
14:54the Director of Operations
14:55on Amazon India,
14:56on the expansion plans,
14:58the festive expectations
14:59and much more.
15:00So let's listen into that excerpt.
15:01We're actually seeing great growth
15:05from our Tier 2 and Tier 3 cities
15:06and this year we have actually
15:07gone deeper into the country
15:09to make sure that we are
15:10reaching our customers over there
15:11even faster.
15:12We have gotten into
15:14smaller towns of
15:15Hubli, Trivandrum,
15:17Cochin, etc.
15:17to make sure that, you know,
15:19we're able to offer
15:20that selection and speed
15:21to our customers
15:22in Tier 2, Tier 3 markets as well.
15:23We're actually seeing
15:24a lot of our new customers
15:26come in from Tier 2, Tier 3 markets
15:27as we provide them
15:29better selection and faster speed.
15:31So we're super excited
15:32about this next leg
15:33of our journey in India.
15:34And you've also expanded
15:35some of your capacity
15:36of like, say, storage
15:38and many much more.
15:40Can you just let us know
15:42about that as well?
15:43Absolutely.
15:44We have now got
15:4543 million cubic feet
15:47of storage across the country
15:49and this is to store inventory
15:51for our sellers
15:51to make it ready
15:52for our customers.
15:53That's a lot of inventory.
15:54This year itself
15:55we've added 8.6 million
15:57cubic feet of inventory
15:58and this is across 15 states
16:00where we have our
16:01fulfillment centers,
16:02across 19 states
16:03where we have our
16:04sortation centers
16:04and we have 2,000
16:06delivery stations
16:07that do the last mile
16:08of delivery for our customers.
16:09And we serve 100%
16:11of serviceable PIN codes
16:12in India.
16:13Right, so that was Karan Chook
16:15talking about the kind
16:17of boost in demand
16:18that he hopes to see
16:19in the upcoming
16:20festive season at large
16:21and how they're expanding
16:22their inventories
16:23to cater to the large demand
16:25as well.
16:25In fact, talking about
16:27the GST rationalization
16:29that may put this boost
16:31right into the consumption sector
16:32is Finance Minister
16:33Nirmala Sitaraman
16:34who was speaking at
16:35an event in Kolkata
16:37saying that GST rate cuts
16:39will actually boost
16:40consumption, production
16:41and jobs
16:42and also widen
16:43the tax base as well.
16:44Talking about
16:45the second generation
16:46of the GST reforms,
16:47she says it's a game changer
16:48and she also expects
16:50this to add
16:502 lakh crore rupees
16:52to the economy overall.
16:54She's also talked about
16:54how collections have surged
16:55from 7.2 trillion rupees
16:58in 2017-2018
17:00to all the way up
17:01to 22 trillion rupees
17:02in FY24.
17:04Earlier, the government
17:04has also estimated
17:05a net revenue loss
17:07of however, 40,000 odd crore rupees
17:08due to the GST rate cuts
17:10which should get offset
17:11in the current fiscal year itself
17:13due to the higher consumption
17:14both in the urban
17:15as well as rural areas.
17:17Let's listen in
17:18to what Finance Minister
17:19had to say.
17:20This is a very important data
17:22that we should understand.
17:24The rate cut
17:25and the new GST reforms
17:26will inject nearly
17:282 lakh crore
17:30into the system.
17:31So, I take the example.
17:35We give PLIs
17:36semiconductor manufacturer,
17:38earlier automobile manufacturing,
17:40we want to incentivize them
17:42so that they can produce
17:44and produce well
17:44in this country.
17:46Assume for PLI
17:48we give a certain amount.
17:51By injecting this amount
17:53through the rate cuts
17:55for GST,
17:56we are actually giving
17:5810 times of what
17:59PLIs are giving.
18:00And, till now
18:01in the 8 years
18:02what did the GST do?
18:0465 lakhs
18:06was the number of
18:08people who were
18:09in the GST system.
18:11Meaning,
18:12they were
18:13charging GST.
18:16In 2017
18:17they were 65 lakhs
18:19at the time of introduction.
18:21In the 8 years
18:22that number has gone
18:23to 1.51 crores.
18:25So, GST has actually
18:27drawn more people
18:29into it
18:29and widened the net.
18:31And, the money earned
18:32that is a gross,
18:34not talking of refunds here,
18:36where we were collecting
18:38in 2018
18:39only 7.19 lakh crores.
18:43Today,
18:43we are collecting
18:4422.08 lakh crores annually.
18:47All right,
18:50coming back to our conversation
18:51with Sharmila then.
18:52Sharmila,
18:522 lakh crores
18:53as far as
18:55the consumption boost
18:56is considered
18:57onto the economies
18:59what Finance Minister
19:00is expecting.
19:01How do you expect
19:02the markets
19:02to react
19:03to this consumption boost
19:04since this is also,
19:06you know,
19:07reacting,
19:08going to get
19:08a reaction
19:09from the overall
19:10GDP growth
19:11that's now coming
19:11at 7.8%
19:12and may get some
19:13for the Philip as well.
19:14How do you expect
19:15the markets
19:16to react to that?
19:17Do you think
19:17the erstwhile highs
19:18of 26,277
19:20may also get crossed
19:22this year
19:22just because
19:23of this consumption boost?
19:25Not really.
19:26Because, you know,
19:26let's not forget
19:27that our main concern
19:28has also been
19:29the fact that
19:30we haven't reached
19:31any solution
19:32on this whole
19:33tariff situation
19:33which is actually
19:34what started
19:34dragging the markets lower.
19:37but this will have
19:38a positive impact
19:39for sure
19:39and we've already
19:40started seeing it
19:41play up
19:41because car companies
19:43have already said
19:43they're going to
19:44pass on benefits.
19:45Two-wheeler companies
19:45have already said
19:46they're going to
19:46pass on benefits.
19:47So, we are waiting
19:48for September 22nd
19:50and seeing how
19:50it plays out.
19:51There will also be
19:52other savings,
19:53you know,
19:53because I think
19:54if your cost of production
19:55comes down
19:56and the actual
19:57product price
19:58comes down
19:59then are you going
19:59to pass on
20:00the full benefit,
20:01etc.
20:01So, all these things
20:02remain to be seen
20:03and so apart
20:04from the outright,
20:05you know,
20:06tax cut
20:06that these companies
20:07will pass on
20:08what more
20:09further cuts
20:10can we see
20:11from manufacturers.
20:13I think, you know,
20:13that remains to be seen
20:14and definitely
20:15I think this
20:16coupled with everything
20:17that has happened
20:17in the budget
20:18and the interest rate cuts
20:19that we've had
20:20are all aiming
20:21towards putting more
20:22money in the
20:23hands of consumers
20:25and I think
20:26that the second
20:27half of this year
20:28is going to prove
20:29exciting for us
20:31in that sense
20:32in a positive manner.
20:34So, let's wait
20:34and see
20:34but maybe not right away.
20:36So, Sharmila,
20:38I think one more
20:38key question
20:39that a lot of
20:40investors may want
20:40to find out
20:41is that whether
20:42this change in sentiment
20:44and a boost
20:45to consumption
20:46and the overall
20:47boost to the economy
20:48may finally attract
20:49the FIIs
20:50that have been
20:51absent from the
20:52country as well.
20:53The foreign investors
20:54have been consistently
20:56selling off
20:57in the Indian markets.
20:58We have been seeing
20:58some signs
20:59of a pickup
21:00on that front
21:01happen
21:01but whether that's
21:02going to sustain
21:03and come back
21:04in a big fashion.
21:04And also keeping
21:05in mind
21:06that the US Fed
21:07is now beginning
21:08this rate cut cycle.
21:09Do you think
21:09the flows will find
21:10their way back
21:11to the Indian markets?
21:12Yes, it certainly
21:13seems to point
21:14towards that
21:14that the risk
21:15on trade
21:15will be back on
21:16and you will start
21:17seeing positive flows.
21:18I think maybe
21:19everything will come together.
21:21You will see
21:21some resolution
21:22to the tariff situation.
21:23You will start
21:23seeing an improvement
21:24in numbers
21:25and the second half
21:26of this year
21:27may prove to be
21:28much better for us.
21:29So, yes,
21:30I think certainly
21:31even FIIs
21:31will take note of that.
21:32Okay, what about
21:34the banking space
21:35at large?
21:36You know, we've been
21:36talking about
21:37all those sectors
21:38that may first
21:39start to reflect
21:40the consumption demand.
21:42Autos, consumer
21:43durables, discretionary.
21:45You talked a lot
21:45about the e-commerce
21:46players, the tech
21:47players as well.
21:48But what about
21:48the banks?
21:49Do you think
21:49a lot of funding
21:50will also lead
21:51to credit demand
21:52uptick and therefore
21:54lead for another
21:55pickup in the
21:56banking space as well?
21:57Are you looking
21:57at positively that space?
21:58In fact, that
22:00to my mind
22:00will be the
22:01first place
22:01to reflect.
22:02Because, you know,
22:03if you are feeling
22:03positive about the
22:04economy and you are
22:05ready to borrow,
22:06who's going to
22:07feel the first impact?
22:08I think it's going
22:08to be the banking
22:09and the BFSI space.
22:10So, I think
22:11starting October
22:12from the numbers
22:13itself, you will
22:14start seeing some
22:15sort of an
22:15improvement in
22:16banking numbers
22:17and that will,
22:18I think, sort of
22:19put the cycle
22:20back, sort of
22:21put us back
22:22in the cycle.
22:24Absolutely.
22:25So, within the
22:26banks, are you
22:27looking at private
22:28sector or the
22:29PSU sector that
22:30started to now
22:31pick up in some
22:32pace because that
22:33was lagging far
22:34behind the
22:34private players
22:35up until now
22:36in 2025?
22:39Yes, I mean,
22:39you know, really
22:40honestly speaking,
22:41there are a lot
22:41of stocks I like
22:42within that space.
22:43So, in the
22:43private banks,
22:44if you like,
22:45and HDSE,
22:46ICSA, which
22:46have already run
22:47up, I think
22:48even a Porta
22:48or an Axis
22:49bank could get
22:50looked at.
22:50I think stocks
22:51like, again,
22:52state bank one
22:53doesn't need to
22:54talk about, but
22:54even the larger
22:55public sector banks
22:57like Bank of
22:58Roda, Bank of
22:59India, Canada
22:59Bank, P&E, I
23:01think all these
23:02will slowly start
23:04showing better
23:05numbers and one
23:07can expect, you
23:08know, because the
23:08valuation certainly
23:11seem to suggest
23:12an upside.
23:13So, it largely
23:14depends on how
23:15their numbers
23:17really pan out
23:17for them in
23:19this quarter,
23:20and then the
23:21market will take
23:21it from there.
23:22markets.
23:23Okay.
23:23Are you still,
23:25you know, not
23:25very sure or
23:26cautious about
23:27some of the
23:28sectors that may
23:28still not
23:29participate in the
23:30markets?
23:31Are you wary of
23:32some sectors like
23:33that?
23:33Yes, I think
23:34IT would be one,
23:35you know, because
23:35I think while
23:36tariff and
23:37everything else,
23:39the slowdown that
23:39we've seen in
23:41US, etc.,
23:42would have been
23:44taking their toll
23:45on the
23:45valuations of
23:46IT companies
23:48and we've seen
23:48that the
23:49rationalization
23:50happen.
23:50I think now
23:51somewhere the
23:52market is also
23:53sort of factoring
23:53in the AI
23:55thread.
23:56So, what it's
23:57going to do to
23:57jobs within that
23:58space, what it
23:59means for the
24:00companies themselves,
24:01how much have
24:01they really invested
24:02in AI.
24:03So, one year is
24:04a lot more about
24:05this in context
24:06with IT companies.
24:07And I think
24:08investors will now
24:09really closely look
24:10at that as to
24:11how much investment
24:12has gone there,
24:12what percentage of
24:13revenue is coming
24:14from there, etc.,
24:15etc.
24:15So, that I
24:16think while we've
24:18seen this pullback,
24:19I think going
24:19forward that could
24:20be a key area to
24:21watch as far as
24:22IT companies go.
24:24Okay, fair point.
24:25The markets are
24:26just about to
24:26shut shop, so
24:27just let's focus
24:29our attentions on
24:29the market closing
24:30and we'll come
24:31back for the
24:32closing comments
24:32with Sharmila as
24:33well.
24:34You know, let's
24:35look at the
24:35Nifty at this
24:36point in time.
24:37You can actually
24:37see a 70 point
24:38of a downtick.
24:3925,353 is the
24:41level at which
24:42the Nifty is
24:42truly trading at.
24:44When we look at
24:45the key drags,
24:46there have been
24:46consumer durables,
24:47banks at large,
24:48financial services,
24:49ITFMCG2.
24:51When we look at
24:52the top movers
24:53in trade today,
24:55you'll clearly be
24:56able to find that
24:57it's Adani
24:57enterprises that
24:58moved up the
24:59maximum 5.2%
25:01high in trade,
25:02SBI life and
25:03even names like
25:04Indusin Bank,
25:05they pulled up in
25:05trade today.
25:06Also, Adani
25:07Port State Bank of
25:08India among those
25:09other movers,
25:10Bharti Airtel,
25:10another one that
25:11continued to move
25:12up in trade as
25:13well.
25:13So, those were the
25:14top 5-6 movers
25:15on the positive
25:16end.
25:16However, when we
25:17look at some of
25:18the top drags,
25:19you'll be able to
25:20clearly spot HCL
25:22Technologies,
25:22ICICI Bank,
25:24Trent for that
25:24matter, that
25:25slipped in trade,
25:261.5% losses for
25:28those.
25:29Even M&M or
25:29Bajaj Auto,
25:30these are the
25:31other stocks that
25:32actually fell in
25:33trade as well
25:34today.
25:34But let's
25:35actually look at
25:36the broader
25:37markets, the
25:37mid and the
25:38small caps,
25:38that they
25:39continued to
25:39move up slightly
25:40higher in trade.
25:42Some of the
25:42top movers on
25:43the mid-cap
25:44front that
25:45really rallied
25:46from the front
25:46is, of course,
25:47the Adani
25:47Group stocks
25:48apart from
25:48this Vodafone
25:49idea that
25:50moved up
25:507.5% with
25:51some hopes of
25:52some resolution
25:53coming in as
25:54has been
25:55represented by
25:55the government
25:56to the Supreme
25:57Court today.
25:58Vishal Megamart,
25:59IREDA,
26:00Motilal Usval
26:01Financial Services,
26:02those are some
26:02of the names
26:03that have pulled
26:03up in trade as
26:04far as the
26:05mid-cap names
26:06are concerned.
26:06But PSU
26:07banks is
26:07something that
26:08really rallied
26:09from the front
26:09today.
26:101.3% higher
26:11real estate
26:12followed,
26:13pharma,
26:13oil and gas,
26:14these were
26:14the other
26:14top sectors.
26:16When we
26:16look at
26:16the Nifty
26:17500 names,
26:18a lot of
26:18interesting names
26:19also pulled
26:19up here.
26:20Sumitomo
26:21Chemicals,
26:21that pulled
26:22up 6.5%
26:23in trade.
26:24Look at
26:24even names
26:25like Adani
26:27Power,
26:27we've already
26:27marked the
26:28Adani Group,
26:28but Alivest
26:29Life Sciences,
26:30CareerPoint,
26:31EduTech,
26:31Bharat Gears
26:32for that matter,
26:33that also
26:33moved up.
26:34Even Anant
26:34Raj from
26:34the real
26:35estate pack
26:35pulled up
26:36about 8.5%.
26:37Urban Company,
26:39third day of
26:39trade for
26:40this new
26:40debut stock,
26:418.5% higher.
26:42VIP Clothing,
26:43another one
26:44that moved up
26:45in trade.
26:45So smart moves
26:46that have been
26:46seen in trade
26:48today.
26:48Coming back
26:48to Sharmila.
26:50Sharmila,
26:50next week is
26:51going to be
26:52an important
26:52one.
26:53Like we all
26:53pointed out
26:54about the
26:54festive season,
26:55your sense of
26:56what's the best
26:57way to approach
26:57the markets
26:58from here on.
26:59How would you
27:00advise investors
27:01who have been
27:01sitting on cash
27:03all through
27:03this consolidation
27:04looking for
27:05some signs
27:06of an improvement
27:06in the markets
27:07to now finally
27:08go in?
27:09What's the
27:09strategy they
27:10should adopt?
27:11Two things.
27:12One is that
27:12any stock
27:13that you like,
27:14buy it
27:14incrementally.
27:15Don't invest
27:15your entire
27:16sum at one
27:17point in time,
27:17in one go.
27:19And secondly,
27:20when you buy
27:20a stock,
27:21make sure
27:21that you're
27:22buying it
27:22with at least
27:22a two or
27:23three of
27:23a spectrum,
27:24you know,
27:24given the way
27:25things are.
27:25It will take
27:26a while for
27:26things to
27:27settle down
27:27and then,
27:28you know,
27:28sort of good
27:30markets to
27:31start or rather
27:33a trending
27:34market to
27:34return.
27:35So for that,
27:36I think you
27:36need to be
27:37a little patient
27:37and obviously
27:38I think you
27:39discussed quite
27:39a few of
27:40the sectors
27:40that I like.
27:41I do like
27:41the consumption
27:42names,
27:42I do like
27:43the banking
27:43names.
27:44So those
27:44could be some
27:45of the stocks
27:45that you could
27:46look at.
27:46But as I said,
27:48money in one
27:49go,
27:50buy and if
27:51you sense
27:51that markets
27:52are correcting
27:52again for
27:53some reason,
27:54then buy
27:55more at that
27:56point in time.
27:57Fantastic.
27:58Thank you so
27:58much,
27:59Sharmila,
27:59for being
27:59with us
28:00on the
28:00program and
28:01of course
28:01helping all
28:01our viewers
28:02out with
28:02all your
28:02insights as
28:03to where
28:03to find
28:04opportunities
28:05in this
28:05kind of a
28:06market when
28:06some or
28:07the other
28:08tailwinds
28:08are now
28:08finally coming
28:09into focus
28:10as well.
28:11With that,
28:11viewers,
28:11we're going
28:12to be wrapping
28:12up the
28:12Business Today
28:13show for
28:13you right
28:14here.
28:14But do
28:14stay tuned
28:15as news
28:15coverage
28:16continues on
28:16the other
28:17side and
28:18of course
28:18Monday
28:18morning we'll
28:19be back
28:20with another
28:21edition of
28:21Market Opening
28:22Show at
28:229am as
28:23Abha Bakaya
28:24will get
28:24you the
28:25first action
28:25of the
28:26new week
28:26as well.
28:27With that,
28:27signing off,
28:28Sakshi Patra
28:29right here.
28:29Stay tuned
28:30on to
28:30India Today.
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