News for BIRLASOFT LIMITED (BSOFT.BO)

Uncertainty over US trade policy prompted investors to press 'sell' button on domestic market today amid fears that reciprocal tariffs on Indian exports starting April, could impact multiple sectors.

Information Services Group ([url="]ISG[/url]) (Nasdaq: [url="]III[/url]), a leading global technology research and advisory firm, said today it has recognized

Birlasoft achieves CMMI V3.0 Level 5 certification, showcasing commitment to excellence and innovation in digital transformation services.

The Nifty Pharma index was trading 0.57 per cent at 23095.15.

Microsoft announced a $3 billion investment in India to strengthen AI and cloud infrastructure. This and more in todays ETtech Top 5.

Indian IT stocks are set to end 2024 on a strong note, with seven stocks in the BSE IT index becoming multibaggers and 22 others delivering double-digit returns. Analysts expect the sector to perform well in 2025, driven by strong demand for digital transformation, AI adoption, and the US Fed's policy shift, boosting discretionary spending by companies.

An analyst from Swastika Investmart said that Birlasoft appears to be bottoming out, forming a base near a critical support zone. It is currently consolidating around the 100 SMA, acting as a hurdle.

Indian benchmark indices recorded their worst session in over a month, pressured by uncertainty surrounding the US presidential election. The Nifty declined 1.27% to 23,995, and the Sensex dropped 1.18% to 78,782. Analysts suggest that the Nifty might extend its correction towards 23,650, while a decisive move above 24,100 could trigger a rally.

The Nifty Bank index was trading 1.06 per cent at 51127.40.

The Nifty IT index was trading 0.98 per cent at 40039.10.

Hero MotoCorp, BPCL, Bajaj Auto, Sun Pharma and NTPC were among the top losers on NSE.

The Nifty Pharma index was trading 1.07 per cent at 22562.65.

Elgi Rubber Co, Shree Rama Multi, OrientalAromatics, Rainbow Childrens and IRIS Business Services, hit their fresh 52-week highs at 10:08AM.

The Nifty Realty index was trading 2.24 per cent at 986.50.

Since Covid-19 lows, the average intermediate corrections have been to the tune of 8-10%. With an 8% correction already in place amid oversold conditions, coupled with the outperformance of Bank Nifty.

With the ongoing earnings season, Premier Polyfilm Ltd. will be in focus next week as it will trade ex-split. Tech Mahindra Ltd., NTPC Ltd. and Colgate Palmolive (India) Pvt. will also be in focus as it will trade ex-dividend this week. Shares of Tech Mahindra, Balkrishna Industries, NTPC, and other companies are set to remain in focus this week, as they turn ex-date this week following recent corporate announcements.

The Nifty formed a long bearish candle, indicating ongoing pressure. A minor pullback or sideways consolidation may occur in the next one to two days. Support is at 24,100 and 24,000, while immediate resistance is at 24,450–500, with crucial resistance at 24,700–750. Open interest data shows the highest call OI at 24,400 and 24,300, with put OI at 24,200.

Ten stocks, including Aarti Industries and Bandhan Bank, are under ban from F&O trading as their open interest exceeded 95%. This ban will only be lifted if their open interest drops below 80%. The Indian benchmark indices S&P BSE Sensex and Nifty ended lower on Wednesday amid volatile trading, foreign fund outflows, and selling pressure.

Stocks including Hindustan Unilever, Infosys, M&M, Titan, AU Small Finance Bank, ITC, Mankind Pharma, Adani Power, NPTC and more will be the spotlight on Thursday, October 24.