News for MosChip Technologies Limited (MOSCHIP.BO)

Neelesh Surana, CIO, Mirae Asset Investment Managers (India) said there are pockets of excess in the markets, although the overall market is reasonable.

Notably, the stock has soared 10.23 per cent in the last two trading sessions

Disconnect between earnings growth and stock prices, Bernstein said, is even more visible in the small-and mid-cap (SMID) universe

Investors are eyeing companies like Nvidia, which has seen a remarkable rise in market value and revenue. Another player in the semiconductor industry, Moschip Technologies Ltd., is gaining attention for its high market capitalization and recent order from CDAC.

MosChip Technologies share price has rallied 44% in 4 days after the MeitY approved its application under Semiconductor DLI scheme

The quarterly earnings season commenced in the second week of April and remains ongoing, with more than 260 companies slated to announce their fourth-quarter earnings throughout this week.

The BSE smallcap index rallied nearly 10%, while the midcap index jumped over 7%. Within the smallcap space, over 500 stocks have delivered double-digit returns with the highest gain (Puravankara) going as high as 86%.

Support for the Nifty is seen at 22,000 and 21,700-800 levels. On the higher side, the immediate resistance for the Nifty is at 22,150-175 levels, followed by 22,300-350. Overall, the coming week should set up the market for a large trending move.

The Indian rupee touched record low 83.57 during the week and ended marginally lower at 83.47 on April 19 against its April 12 closing 83.42.

A short build-up was seen in 62 stocks including L&T Technology Services, Hindustan Aeronautics, Vodafone Idea, HDFC Asset Management Company, and Ashok Leyland.

Stocks to watch: Check out the companies making headlines before the opening bell today, on November 28, 2023.

Controlled inflation in the US has instilled optimism among investors, who believe that a 25-bps rate hike would be sufficient to stabilise the US economy

The Indian equity benchmarks hit new highs during the week on improved domestic data, continued FII buying, healthy progress of the monsoon and a good start to the earnings season

Vedanta will consider the issue of fifth interim dividend the for FY23. The record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is fixed as April 7.

Foreign institutional investors were net sellers this week, selling equities worth Rs 7,953.66 crore. Domestic institutional investors, however, undid the damage as they bought shares worth Rs 9,233.05 crore

On the sectoral front, Nifty PSU index fell 4.5 percent, Auto index shed nearly 4 percent, Information Technology index down 2.3 percent and Bank index shed 2 percent.

Volatility increased significantly, with the India VIX rising by almost 9 percent, making bulls more uncomfortable at Dalal Street.

The BSE Sensex and the NSE Nifty are poised to start the week on back foot, tracking mixed global cues and negative trading at SGX Nifty.

Technical analysts believe investors should now wait and watch while avoiding hasty trading decisions.