Sensex Up 150 Points Today, Nifty Tests 17,500

Sensex Today: The global equity rally will be tested as traders expect more volatility until there is more clarity on the Omicron variant’s threat to the economy, and ahead of U.S. consumer inflation numbers this week and a Federal Reserve meeting next week that may provide clues on the pace of tapering and interest rate increases.

Sensex Up 150 Points Today

Sensex Updates: Creditors of the company may submit their claims with proof on or before December 20, 2021 to the Administrator at the address specified in the announcement. Financial creditors may submit their claims with proof by electronic means only. Other creditors may submit their claims with proof in person, by post or by electronic means.

Bondholders of Vodafone Idea will receive their interest in time on the due date of December 13 as the company managed to raise funds for the repayment, the Business Standard reported citing bankers. The company has to pay ₹6,000 crore to its bondholders beginning 13 December till March next year and plans to use its own cash flows and bank funds to repay its bond holders.

Earnings scenario remains constructive: During Q2FY22 earnings season, 36 out of the 50 companies beat or met consensus expectations. Post Q2 earnings, we (as well as consensus) further upgraded our estimates by 2% despite businesses witnessing significant margin pressure during the quarter.

Encouragingly, margin pressure is expected to ease out from Q3FY22 onwards owing to price hikes and softening of commodity prices which have already reduced from the heady levels of Q2. This will aid in margin improvement moving forward, leading to earnings visibility.

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Sensex Up 150 Points Today

Momentum, Value, and Quality: Top performing styles, Growth continues to lag; Large Caps catch up in the near term: Momentum theme has seen good traction in the recent months followed by Value and Quality themes. Growth has continued to lag which presents a very curious case.

Value, over a slightly longer time horizon, continues to be a robust theme while we believe Quality theme may outperform from the current levels considering a notable market correction and significantly increased volatility in the last three months.

While Large caps have outperformed Small and Mid-Caps in the last 3 months, value seems to be emerging in the Small and Mid-Cap stocks, providing attractive investment opportunities. Maintain NIFTY50 target of 20200 for Dec’22: Considering the strong earnings trajectory, we maintain our Dec’22 NIFTY50 target of 20200, valuing it at 22x FY24E earnings.

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Sensex Up 150 Points Today, Nifty Tests 17,500 via @marketinvestor
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