“If we look at the Quant Fear Index, in the last two or three days, when this fall unfolded in a big way, it did not spike up to that extent to say reversal. It can settle down in the next few trading sessions. We are closer to that event which means the downside may not be very significant from the current levels.”

“Every week on average, our portfolio makes about Rs 1,100 crore. This Sunday also, that number was achieved. Next Sunday it will be the same, the following Sunday it will be the same. We believe that it will become clear to investors that this short-term volatility will be addressed as we go through over the next few months.”

Adani Group told Reuters in a statement on Saturday that the sale remains on schedule at the planned issue price, even as sources said bankers on the country's largest secondary share sale were considering extending the timeline beyond Jan. 31, or tweaking the price due to the fall in its share price.

The widespread positions in the options of Nifty 50 indicates the uncertainty over market direction among traders. The board range indicated by the options data is 17000-19000 range for the 50-stock index.

In an interview to PTI, Singh said the group will release a comprehensive response to the Hindenburg report, "providing documentary evidence" to "clearly outline that there was no research done and that there wasn't any investigating reporting. Only pure baseless misrepresentation of factual situations, if not lies." The selloff in Adani stocks is being looked into by market regulator Sebi and stock exchanges.

Adani Group has repeatedly faced and dismissed concern about debt levels. It defended itself in a presentation titled "Myths of Short Seller" on Thursday, saying deleveraging by promoters - or key shareholders - was "in a high growth phase".

The New Delhi-based company's revenue from operations climbed 12% to Rs 6,350 crore from Rs 5,670 crore a year earlier

Yes, you will have volatility and commodity prices will be volatile but the supply side remains supportive structurally for the commodity basket.

SAIL was up 1.5 percent at Rs 92.1, the highest closing level since May 5, 2022 and formed decent bullish candle on the daily charts with higher high higher low formation for second consecutive session. It has given a nice breakout of 'Mother Candle' formed on January 2 in previous session and maintained uptrend for yet another session, with strong volumes.

On the Options front, the weekly maximum Call OI is placed at 18300 and then towards 18200 strikes while the maximum Put OI is placed at 18000 and then towards 17900 strikes.

Analysts also point that being a forward-looking animal, the market would have already factored in global recession worries as investors were aware of this high probability event since the past few months.

“Our experience in India shows that revenge spending is largely driven towards services, travel which are not very commodity intensive. When we are talking about housing, Chinese companies have huge inventory and the developers are not in a state to really push up construction. So there would be revenge buying which will not be commodity focussed and to that extent I am not that bullish on this thesis.”

The Sensex and Nifty advanced by 0.6% each, their second day of gains after taking a beating last week when they had fallen by 2.7% each. Shares of Jindal Steel gained 9% with cash volumes expanding five times their last one-month average and traders squaring off bearish bets.

While Nifty has plunged around 3% so far in December, historical trend indicates that the festive spirit may soon overpower bears. In the last 20 years, Nifty has ended on a positive note in December for 80% of the time. December has the highest average monthly returns of 3.2%, Samco Securities said.

The quota reserved for retail bidders was subscribed merely 40%, whereas HNI quote fetched 1.48 times bids. The allocations for institutional bidders were booked 4.10 times.

According to the minister, installation of new sinter plant is being done at an investment of Rs 1,111 crore, while rebuilding of coke oven battery (COA) 8 is being carried out for an investment of Rs 285 crore at SAIL's steel plant in Bokaro, Jharkhand.

SAIL has been losing market share for the past 15 years to the aggressive private trio (JSW, JSPL, and Tata Steel). SAILs volume has grown by a mere 2.1% CAGR over 2007-22 against the industry at 5.4% CAGR, resulting in its market share declining from 25% to 16% over 2007-22.

“I do feel that the export markets where Indian steel has a footprint, definitely need to be retained because customer acquisition is the most expensive part of a value strategy. The second most important part is customer retention. Though removal of the export duty may not yield dividends in the immediate or short term, I am very confident that our companies will regain their international footprints in the medium term.”

ICICI Direct recommended hold rating on Steel Authority of India with a target price of Rs 90 in its research report dated November 13, 2022.

Experts suggest it would not be correct to state that the imposition of export duty was the only key reason for correction in domestic steel prices. It should be noted that prices were already in correction mode when the export duty was imposed.

"Nifty50 tested the monthly pivot resistance near 18,400 levels and witnessed a sideways move in a narrow range holding its short-term 8-day average. The current consolidation at higher levels augurs well for the bulls, and we expect the index to scale an all-time high in the coming weeks. "

The company, whose issue barely managed to sail through, is commanding negligible premium in the grey markets, compared to its issue price of Rs 474 apiece.

The stock saw some selling pressure from the levels of Rs 151-63.50 in the period September 2021-June 2022 which was 61.80% retracement of its previous up move. In terms of price action, the stock price is trading above the crucial short- and long-term moving averages of 5,10,30,50,100 and 200-DMA which is a positive sign for the bulls.

The S&P BSE Sensex rose more than 200 points while the Nifty50 reclaimed 18200 levels on Monday.

Steel Authority of India (SAIL) Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 34737.72 Crore) operating in Metals - Ferrous sector.

The S&P BSE Sensex closed with gains of more than 100 points while the Nifty50 held on to 18,100 levels for the week ended 4 November.

Traders are advised to continue with an optimistic approach and now, with other sectors chipping in, we expect a good broad-based buying in the forthcoming week.