500 Financial News

By Ankika Biswas and Shashwat Chauhan

Narendra Modi will inaugurate several development projects worth around ₹7,500 crore in Maharashtra on 26 October before kicking off the National Games in Goa later in the day, the Prime Minister's Office said on Wednesday. More than 10,000 athletes from across the country will compete in over 43 sports disciplines at the National Games in Goa.

In the midst of overbought signals, Bitcoin price shows no signs of slowing down as it remains on a bullish trajectory, with technical indicators predicting a target of $36,500. 

Jai Bala of Cashthechaos.com, says “the banking index has not had a red October for the last 10 years. But it is likely to do it for the first time in October since 2012 is itself a significant factor for the overall market. So be cautious. Holding cash is one of the toughest things to do. And for those who can manage to do that, they will be having a win year after year, half year after every half year. So having patience holding cash is the most important thing. ” What is the sanctity of breaching this 19,200 mark? 19,200 is not a significant support level but the market is probably bracing itself for a much bigger decline. At the moment, there is a significant breakdown in the Nifty Banking Index and the market leader, the FMCG stocks and the capital goods stocks. So basically, this looks like the start of a much bigger decline. This is just really a preamble.

local train services in Mumbai will be cancelled from October 27 to November 5, as Western Railway (WR) will be implementing blocks for commissioning. The cancellations will affect train services towards Virar and Churchgate. The reason behind these cancellations is the ongoing construction of the 6th line project, which aims to enhance the carrying capacity of the suburban train network.

Frankfurt-listed healthcare giant Fresenius Medical Care and Citi are seeking to make first-round bidders stand behind their offers as the auction for the $500-million-plus Cura Day Hospitals enters round two.

Investing.com — The S&P 500 rose Tuesday as investors digested a wave of quarterly corporate earnings, with Microsoft and Google set to kick off earnings for big tech.

The S&P 500 pain trade continues to be higher into year-end. We made such a point in January, suggesting the 2022 correction was complete. Let’s review what I wrote, and then we will expand on why we believe the “pain trade” is higher over the next few weeks.

Investing.com — The S&P 500 climbed Monday as retreating Treasury yields paved the way for tech stocks to advance ahead of the quarterly earnings from big tech this week.

Following these changes, the firm said that its SPDR range will offer the lowest cost physically replicated S&P 500 ETFs domiciled in Europe.

Stifel strategists, who accurately predicted the rally in the first half of this year, believe that U.S. stocks reached their peak in the summer and are unlikely to surpass the mid-4,000s until at least April 2024.

At the start of the new trading week, major technology stocks are falling, also driving the U.S. equity futures lower, as the 10-year Treasury yield crossed 5% for the first time in 16 years.

Is an end-of-year rally in the cards?

The yield on the 10-year U.S. Treasury note climbed above 5.0% on Monday, reaching a level last seen in July 2007.

I'll leave the chat on the daily time frames for later this week, but last Friday's damage has left markets struggling on a weekly time frame. It's not all doom and gloom, but come this week's Friday, there will need to be some buying flourish if we are not to start looking for support dating back to the end of 2022 (or worse for the Russell 2000).

analysts have identified 19,500 as the immediate support for the Nifty, with a subsequent swing low support at 19,330. They caution if this support is breached, there is a likelihood that the index could further decline towards the range of 19,000 to 18,900 in the coming weeks. Analysts suggest traders may want to explore potential opportunities in Reliance, HDFC Bank, IndusInd Bank, and Sun Pharma. RUCHIT JAIN LEAD RESEARCH ANALYST, 5PAISA.COM Where is Nifty headed this week? The recent pullback in Nifty resisted around the 61.8% retracement of the previous correction.

A triple whammy for indexes and one where bears took all the plaudits. The Russell 2000 (IWM) experienced an ugly distribution day that drove through the prior spike low. We now have a crash opportunity that could spill into the weekly time frame.

Yesterday was one of those days when Jay Powell should have passed on its latest interview session. The message was vague, and he didn’t seem to have many answers at times.

China has more than 500 operational nuclear warheads in its arsenal and will probably have over 1,000 warheads by 2030, the Pentagon said in its annual report on Beijing's military that was released on Thursday. Despite the growing number of China's nuclear weapons, they are still much lower than what Russia and the United States have. The United States has a stockpile of about 3,700 nuclear warheads, of which roughly 1,419 strategic nuclear warheads were deployed. Russia has about 1,550 nuclear weapons deployed and according to the Federation of American Scientists, a stockpile of 4,489 nuclear warheads. In the wide ranging report, the Pentagon said China's more than 500 warheads as of May 2023 were on track to exceed projections. In a previous report, the Pentagon estimated that Beijing had more than 400 operational nuclear warheads in 2021. «We see the PRC (People's Republic of China) continuing to quite rapidly modernize and diversify and expand its nuclear forces,» a senior U.S.

Global financial markets are experiencing declines today as government bond yields continue to rise. In the United States, yields are reaching new cycle highs, putting pressure on stocks. The 10-year Treasury yields have risen by 5 basis points to 4.97%.

PREF II will also focus exclusively on completed class-A income-generating commercial real estate leased to multinational and blue-chip tenants in the tech hubs of India. The proposed fund will also have a Rs.