Go Green, Earn Credits: Govt starts Green Credits scheme under Mission

Mechanism will be implemented in phases. Initially, 2-3 activities from eight sectors are being considered for piloting the Programme. Later, more activities will be added from the selected sectors

4:58 PM

Comment :: 'Profit-taking in momentum stocks may be prudent'

>> FII flows, while previously robust, have started tapering off, possibly due to India's outperformance among emerging markets and potential US Fed rate hikes.

 

>> Important to remain slightly conservative as corrections can be swift

 

>> Favoring large cap and larger midcap names is suggested, while profit-taking in stocks (especially momentum ones) may be prudent

 

>> Despite intermittent corrections, the overall positive outlook for Indian markets remains

 

>> Interim corrections should be viewed as opportunities to increase equity exposure for long-term investors.

 

Views by: Milind Muchhala, Executive Director - Julius Baer India

4:58 PM

Comment :: 'Markets await clarification from major central banks'

Domestic markets relinquished their momentum as they anticipated a raft of policy rate decisions due this week. The investors' confidence was also impacted by the expectations of a demand resurgence in China, combined with crude supply cuts. With the Fed rate hike fears back on the cards, as reflected in the elevated US bond yields, the markets await clarification from major central banks.

 

Views by: Vinod Nair, Head of Research at Geojit Financial Services

4:57 PM

Tech View :: Key levels on Nifty, Bank Nifty to watch out

Nifty50
 

The Nifty index has been consolidating within a broad range, with notable call writing activity observed at higher levels. This suggests that market participants are cautious and have been selling call options to hedge against potential downward movements. The sideways trend in the index is expected to persist in the upcoming trading sessions. The index has support at the 20,100 level and resistance at 20,200. A break on either side of this range is likely to lead to trending moves.

4:57 PM

The Bank Nifty index experienced profit booking at higher levels and struggled to surpass the 46,300 mark.

The Bank Nifty index experienced profit booking at higher levels and struggled to surpass the 46,300 mark. The PSU (Public Sector Undertaking) bank sector emerged as a clear outperformer in the index. This outperformance is expected to continue in the near term.

 

The Bank Nifty has an immediate support zone in the range of 45,800 to 45,700. This level is crucial, and a breach below it could trigger further selling pressure in the index. 

 

5:02 PM

India’s nationally determined contributions (NDC) to the UNFCC.

In what would push environment-friendly practices among individuals, farmer goups, small scale, urban and rural local institutions and the private sector, the Centre launched a ‘Green Credits Programme’  on Wednesday under Mission LiFE, one of India’s nationally determined contributions (NDC) to the UNFCC.

 

The ministry of environment, forests and climate change (MoEFCC) on Tuesday, issued the draft ‘Green Credit Programme Implementation Rules 2023’ under the Environment Protection Act, 1986. The draft has proposed generation and trading of green credits

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