US Stock Reports, Quotes and News
FIIs and mutual funds consistently increase stakes in 12 smallcap stocks for four quarters, yielding up to 203% returns. Notable stocks include Dixon Technologies, Electronics Mart India, and Welspun Corp.
After gaining 16-25% over the last month, shares of both Hindalco Industries and National Aluminium Co tested their lifetime highs on Friday. Shares of Vedanta, the country’s largest producer of the metal, have jumped nearly 48% in a month and are at their highest level in two years.
Pakistan\’s benchmark share index breached the key level of 73,000 to trade at a record high of 73,300 in early trade on Monday, according to data from the Pakistan Stock Exchange website.
In Q4FY24, Supreme Industries Profit After Tax (PAT) surged by 126 basis points to reach Rs 314.48 crore, compared to Rs 310.56 crore recorded in Q4FY23. Additionally, the company witnessed a 16% year-on-year growth in revenue for the quarter ended March 2024, with revenue standing at Rs 2,609.61 crore compared to Rs 2,248.28 crore in Q4FY23.
European shares climbed to a two-week high on Monday, extending strong gains from last week, with investors awaiting economic data and the Federal Reserve\’s policy decision, while Deutsche Bank dropped on a provision for Postbank litigation.
Karthick Jonagadla foresees challenges for private banks and FMCG sectors. FY25 market returns may moderate with high performers in specific sectors. Earnings growth alignment for midcap and smallcap stocks, capital inflows shift, and sector opportunities in lower interest rates are key considerations. Jinagadka also says: \”PSUs, defence manufacturing, and rural consumption themes not only highlight the diverse avenues available for investors but also reflects the multifaceted nature of India’s growth trajectory.\”
According to the equity advisory firm, apart from a few exceptions the Nifty indices have often demonstrated an upward trajectory around elections. Despite the difficulties and volatility during the previous 30 years, Nifty has provided a CAGR return of 13% when examining market returns.
Post March caution, markets rebounded but earnings season remains weak. Focus should be on turnaround signs or visibility in stock selection. Amit Khurana of Dolat Capital says that while battery companies have outperformed, IT midcaps remain overvalued. He is positive on capex stories but remains wary of high valuation stocks.
Gartner\’s DD Mishra anticipates AI-led growth in 2024-25, with CIOs relying on consulting services amid uncertainties. Crisis drives IT spending, while niche areas like midcap IT, ER&D, and automotive industry are expected to outperform. Mishra says: \”We will see disruptions in the short term, but the long term outlook is positive.\”
Nifty gained 2% weekly but declined Friday due to US inflation concerns, geopolitics, FIIs selling. Markets closed May 1 for Maharashtra Day. Key factors to watch include US Fed FOMC, Q4FY2024 earnings, and technical factors. \”Going ahead, FII activity remains a key factor to watch especially considering their already low holdings in the Indian market.\”
S&P 500 year-over-year earnings growth for the first quarter of 2024 is now seen at 5.6%, according to LSEG data on Friday. That is up from 4.3% the day before.
Notwithstanding high volatility over the week, the BSE 500 index outperformed the headline BSE S&P Sensex with the latter gaining 0.90% (642 points) on a weekly basis.