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Market sentiment perks up, but risks still abound
News reports about a potential rollback of the surcharge on tax for foreign portfolio investors (FPIs) and withdrawal of long term capital gains tax have cheered the markets. Indian stocks resumed their upward climb on Friday morning. But are happy times here again? Is the withdrawal of FPIs - have sold Rs 20,000 crore worth of Indian shares since 1 July-the only reason why the markets fell in the first place? How will the economic situation and the crisis in the non-bank finance sector continue to affect the markets? To find the answers to these questions, click here.
Diamonds in the dust: A carmaker for the bumpy road ahead
Legendary investor Peter Lynch once said, “Market declines are great opportunities to buy stocks in companies you like. Corrections—Wall Street's definition of going down a lot—push outstanding companies to bargain prices.” The current decline in the markets has hit auto companies especially because of the demand slowdown for vehicles. Today’s stock pick was a Dalal Street favourite but its shares have fallen sharply. But given its excellent track record, history of bouncing back from previous slowdown and attractive valuations, investors should consider owning this company if they are willing to look beyond near term volatility. Click here to read more.
Picks from our technical analysts
Infosys: The software major’s share price has broken out of a three-day sideways pattern and has moved up. Will the move up sustain? Click here to find out how to profit from an Infosys trade.
BHEL: Volatility is high in BHEL ahead of its results. Click here to learn an option strategy to profit from its results.
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Updated Date: Aug 09, 2019 11:20:32 IST