Hdfc Bank Stock News

Read more about Nandish Shah recommends a Bull spread strategy on LIC Housing Finance on Business Standard. The derivative analyst from HDFC Securities recommends buying Buy LICHSG FINANCE FEB 410 CALL and simultaneously selling 430 CALL

Futures Paralyzed Ahead Of Critical CPI Print US index futures are unchanged from Wednesday''s close after some rangebound trades in another illiquid, overnight session, as traders were paralyzed and unwilling to commit capital ahead of today''s critical CPI print which consensus expects to come in at 7.2% YoY headline and 5.9% core, but which may well surprise to the downside (we explained why yesterday ) after beating expectations on 8 of the past 10 occasions. A miss will likely send yields lower and risk sharply higher, especially when considering that the BLS will revise its CPI basket weightings and seasonal adjustments today. On the other hand, an upside surprise could spur additional pricing for a 50bp rate hike at the March meeting, currently priced in the swaps market at around 28%, and as such the 830am CPI print will shape views on how aggressively the Federal Reserve will tighten monetary policy in coming weeks. Contracts on the S&P 500 were flat, and the Nasdaq drifted lower after a broad Wall Street rally on Tuesday, US Treasury yields were lower as was the dollar while bond yields in most of Europe ticked higher, as did bitcoin which briefly rose above $45,000 . “This inflation data will provide investors with more clues on how aggressive the Fed could be at its next policy meeting, sparking volatility in both bond and stock markets,” said Pierre Veyret, a technical analyst at ActivTrades.

Rally in Thursday''s session was led by buying interest in index heavyweights like Infosys, HDFC Bank, HDFC, Kotak Mahindra Bank, State Bank of India and Tata Steel

The 5 of 6-membered MPC voted unanimously for keeping interest rate unchanged and decided to continue with its accommodative stance as long as necessary to support growth and keep inflation within the target. Get more Markets News and Business News on Zee Business.

PowerGrid was the top gainer in the Sensex pack, climbing nearly 2 per cent, followed by Infosys, Tata Steel, HDFC Bank, Sun Pharma, HDFC and NTPC.

Futures, Global Markets Jump As Bond Rout Eases U.S. index futures jumped along with Asian and European markets, while the VIX declined for a fourth consecutive day, setting up Wall Street for a strong open as bond markets stabilized bringing some respite for markets whipsawed in recent weeks by concerns about tightening monetary policy. As of 730am ET, S&P emini futures rose 38 points or 0.84%, while Nasdaq futures were up 1.3% or 187 points, while Dow futures were up 0.60% or 215 points. The 10-year U.S. Treasury yield retreated from levels last seen in 2019, dropping from 1.97% at their high yesterday to 1.92%, and yields across Europe also fell after France’s central banker said markets may be getting ahead of themselves in pricing rate hikes for this year. A dollar gauge slipped and cryptos jumped. Much of today''s rally is the result of Bank of France Governor Villeroy pushing back against market pricing yesterday, which suggests that there are indeed limits to just how far central banks are willing to be pushed by traders’ expectations .

CLOSING BELL: HDFC Bank, RIL lift Sensex 657 pts, Nifty50 above 17,450; Maruti jumps 4%, IndusInd Bank 3%

BENGALURU: Indian shares advanced on Wednesday, lifted by technology and bank stocks tracking an overnight Wall Street rally, while investors awaited the Reserve Bank of India''s monetary policy decision. The blue-chip NSE Nifty 50 index was up 0.82% at 17,408.1 as of 0455 GMT, while the S&P BSE Sensex gained 0.83% to 58,286.56. On Thursday, India''s central bank is expected to hold its repo rate steady, but increase its reverse repo rate as part of a process to reduce surplus liquidity poured into markets earlier in the pandemic. Asian peers also rose as technology stocks followed Wall Street higher, ahead of a key inflation reading this week. Indian shares mark worst day "It looks like Wall Street has accepted the fact that interest rates are going to rise, and that has seeped into domestic markets," said Aishvarya Dadheech, fund manager at Ambit Asset Management in Mumbai. "In India, I feel volatility is here to stay for at least two more months before we see clear skies, with key rate decisions and elections coming up." The blue-chip indexes were marginally lower on the month as of last close, dented by foreign outflows.

Brokerages HDFC Securities and Axis Securities are bullish on Prince Pipes and Fittings, State Bank of India and Minda Corporation shares Get more Markets News and Business News on Zee Business.

"Stocks in Asia rose on Wednesday, and a selloff in sovereign bonds paused, bringing some relief for markets from the concerns about tightening monetary policy that has whipsawed assets this year," Deepak Jasani, Head of Retail Research, HDFC Securities, said. Sensex Jumps Over 400 Points in Early Trade, Nifty Above 17,350.

Among Sensex names, Tech Mahindra advanced 1.94 per cent to Rs 1,460.60. HCL Tech gained 1.76 per cent to Rs 1,182.75. Bajaj Finserv, Maruti Suzuki, Wipro, Titan and HDFC Bank rose over 1 per cent each. IndusInd Bank, ICICI Bank, Bajaj Finance, Infosys and Axis Bank also gained over 1 per cent each.

According to Vinay Rajani of HDFC Securities, metal as a sector has been outperforming for a while and technical setup of the metal index is much stronger than Nifty.

The Mumbai-based Qfix is a cloud-based end-to-end platform, offering integrated online payments and billing services to multiple sectors. With HDFC Bank as its lead distribution partner, the platform currently hosts more than 5,000 merchants, including educational institutions, governments, and clubs.

"We expect gold prices to trade sideways to up for the day with COMEX Spot gold support at $1,800 and resistance at $1,830 per ounce. MCX Gold April support lies at Rs 48,000 and resistance at Rs 48,500 per 10 gram," Tapan Patel, Senior Analyst (Commodities), HDFC Securities.

Advice is to keep stock specific approach as many midcap stocks are better placed as compared to benchmark indices, says Nandish Shah of HDFC Securities.