News for CSB Bank Limited (CSBBANK.BO)

Sensex, Nifty continue to trade lower as Trump’s tariffs weigh high. IT stocks plunge.

The Indian frontline indices ended on a strong note on Wednesday hours before the onset of Trump’s reciprocal tariffs. Buying action was seen across most sectors but more prominent in banks, IT and auto stocks. The BSE Sensex fell by 592.93 points or 0.78% to 76,617.44, while the Nifty declined 166.65 points or 0.72% to end the day at 23,332.35.Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that Nifty appears to be finding support around the critical 50 EMA on the daily timeframe following the recent correction. Additionally, the index has been holding above the falling trendline breakout point and a bullish Harami candlestick pattern has formed on the daily chart, suggesting a potential price recovery in the short term, he said.

An analyst from StoxBox said that YES Bank is exhibiting a lower high price structure, signaling ongoing selling pressure, with the shorter-term moving average acting as an immediate supply zone.

Indian benchmark equity indices opened higher driven by gains in financial, auto, and IT stocks ahead of the quarterly earnings season. The BSE Sensex and Nifty50 showed early gains, with Tata Motors, Maruti Suzuki, and Mahindra & Mahindra leading the charge on the back of strong sales figures.

Total deposits rose by 22.17% YoY to Rs 33,406 crore, driven by a 28.10% YoY increase in term deposits. Gross advances grew by 26.45%, and gold loan advances surged by 36.28%. Despite a small increase in net profit, the stock's average target price indicates a 27% upside.

Stocks including Tata Motors, Ambuja Cement, Maruti Suzuki, NMDC, RailTel, CSB Bank, South Indian Bank, Goa Carbon and more will be in the spotlight on Thursday, January 02.

As many as 15 stocks hit their 52-week lows today. BSE 500 stocks such as Prince Pipes and Fittings Ltd and Tata Technologies Ltd hit their respective one-year low levels. That said, 250 stocks touched their one-year high levels today.

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.

Investor wealth, as suggested by the BSE m-cap, fell Rs 8.14 lakh crore to Rs 435.64 lakh crore compared with a valuation of Rs 443.79 lakh crore recorded in the previous session.

Hero MotiCorp., Maruti Suzuki India and Dabur India will be in focus on Thursday. Overseas investors remained net sellers of Indian equities for the third consecutive session on Tuesday. Foreign portfolio investors offloaded stocks worth Rs 5,579.4 crore, domestic institutional investors stayed net buyers for the seventh straight session and purchased equities worth Rs 4,609.6 crore, the NSE data showed.

Stock Market today | Share Market Updates - Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for October 3, 2024

Indian equity indices Sensex and Nifty50 registered their steepest drop in two months due to profit booking and weak Asian markets, breaking below key support levels. Analysts highlight potential further weakness with key support at 25,750 and resistance at 26,000. The bearish sentiment affected both major and smaller stocks.

Indian equity indices closed lower as investors booked profits after record highs, though the Nifty and Sensex maintained weekly gains, indicating strong market sentiment.

Domestic equity indices rose on Monday, with the Nifty 50 up 0.34% to 24,936 and the S&P BSE Sensex gaining 0.46% to 81,559. Analysts suggest resistance at 25,000-25,100 and support at 24,800-24,785, with a potential trend reversal if lower support levels are breached.

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FIIs offloaded shares worth Rs 7,693 crore during the April-June quarter, while DIIs bought shares worth Rs 1,28,740 crore during the same period

Stocks including Reliance, Vodafone, Dr Reddy's CSB, Adani Ports, RVNL, Airtel, SJVN and more may remain under spotlight before the opening bell on Thursday, June 27.

The Sandesh Limited announced the outcome of the Board Meeting dated February 10, 2024, the Members of the Company have duly passed the following Special Resolutions: Appointment of Shri Bijal Hemant...