Weakness continued in the domestic stock market today. The market opened with a decline on Thursday amid continued weak global cues and investor caution. During trading, Sensex was down nearly 150 points to trade around 84,410, while Nifty fell 40 points to 25,776, below the crucial level of 25,800. Due to pressure on banking stocks, Bank Nifty was also trading down by more than 100 points at 58,822. Analysts say investors are booking profits after the recent rally, and there is also uncertainty over regulatory changes in some sectors. In this environment, investors will keep a close eye on select stocks.
AMC Stocks Worth Watching
Market regulator SEBI has approved changes in the Total Expense Ratio (TER) framework related to mutual funds. This decision can have a direct impact on asset management companies. Stocks like Motilal Oswal AMC, HDFC AMC, Nippon Life India AMC, Aditya Birla Sun Life AMC and UTI AMC may see movement today. Investors will try to understand the impact of the new rules on the earnings of companies.
Axis Bank
Axis Bank has launched a co-branded credit card on the RuPay network in collaboration with Google Pay. This card will be directly linked to the UPI account of the users and will give instant cashback or rewards on every transaction. This step is being considered positive for the bank in the digital payment and credit card segment.
NTPC Green Energy Limited
NTPC Green Energy has started commercial operation of 37.925 MW solar capacity at its Khavra Solar Project in Gujarat. This is the fifth phase of the 300 MW Khavra Solar Project. This stock may remain in focus due to the company’s strong presence in the renewable energy sector.