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Indian market is expected to consolidate, mirroring mixed global cues. Nifty futures closed positively, while India VIX saw a rise. Option data suggests a trading range between 23,800 and 24,700. Analysts recommend holding above 24,250 for an upward move. Experts suggest buying IRFC, Torrent Pharma, CDSL, Bharat Forge, and Delhivery, with specific targets and stop losses for short-term trading.
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Krishnan Ramachandran's reappointment as CEO and MD of Niva Bupa Health Insurance has been approved by the IRDAI for a five-year term, starting May 1, 2025. With over two decades of experience in health insurance and healthcare, Ramachandran previously held leadership roles at Deloitte Consulting L.P., Arthur Andersen and Apollo DKV Insurance.
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GreenEdge Wealth's Digant Haria suggests large IT stocks may outperform large banks in the next year, citing comfortable valuations and gradual AI changes. He favors second-tier BFSI stocks like Equitas and Ujjivan, anticipating a turnaround from easing regulations. Haria also highlights domestic consumption, including building materials and consumer durables, as a promising sector.
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Thursday's earnings announcements include Tech Mahindra, HUL, and Axis Bank. Tech Mahindra anticipates strong profit growth but muted revenue. HUL expects subdued demand and flat volume growth. Axis Bank projects mid-single-digit net interest income growth with potentially muted profitability due to loan growth and stable margins.
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Benchmark indices surged for the seventh consecutive session, fueled by strong buying in IT, auto, and pharma stocks. LTIMindtree shares rallied 5%, while Axis Bank fell 0.89% and Hindustan Unilever rose 1%. Analysts recommend monitoring key support and resistance levels for potential breakouts and reversals in these stocks.
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