Today's Top Gainer
Note:Top Gainer - Nifty 50 More
The Nifty50 fell in 1998, 2008, 2011, and 2014. It suffered its worst fall of 24% in the year 2008, followed by a 6% decline in the year 2011 and 5% decline in 2016.
The Nifty has approached the oversold zone after correcting by 15% over the past eight weeks. Hence, we believe that the index could undergo a trend reversal process.
If history is an accurate guide to the future, the ongoing correction offers an opportunity to long-term investors to take advantage of the fall in stock markets.
As long as the index trades above the key medium-term support band between 11,000 and 11,100, there won’t be any major threat to the uptrend. Why?
The free-fall of the rupee continues; on a year-to-date basis, it has lost more than 13% against the US dollar and is among the worst-performing emerging market currencies.
The rupee has lost 9.98% since the beginning of this year, becoming the worst performing Asian unit.
Businesses are bound to take a hit in Kerala as flood waters recede. Companies that have a large presence in the state are likely to show impact in their Q2FY19 results.
The arbitrage concept works on the mispricing of assets across different markets due to the underlying inefficiencies in market pricing. In the derivatives segment, the market provides opportunities to derive returns from the implied cost-of-carry between the underlying cash market and the derivatives market.
Political unrest, weather and geological disasters and global supply issues are the common factors that affect cost of goods sold. A change in the price of raw materials is a surefire way of affecting gross profit.
The company announced that it will buyback 7.62 crore shares, or 1.99% of its equity, through a tender offer at a price of Rs2,100 per share.