Experts Financial News

IndiGo hit an all-time high of Rs 5,033 in the month of September, from where it started its falling spree and corrected by 25%. After a long time, the stock is currently placed below its 200-day exponential moving average (DEMA), with the stock oscillating in the oversold territory on the relative strength indicator (RSI).

Donald Trump has placed tariffs and tax cuts at the forefront of his economic plan, appealing to voters who largely view the economy as the leading issue in the 2024 election. Analysts estimate Trump's tax cut proposals could add between $3.6 trillion to $6.6 trillion to the federal deficit over ten years. In comparison, Democratic candidate Kamala Harris' proposals would have a smaller impact, potentially even reducing the deficit by up to $400 billion.

Dhanteras, which is considered as an auspicious day for buying gold, is being celebrated in India today. But after a 30% rally in yellow metal since the last Dhanteras, is investing at current levels a right choice and what options do investors have? Gold has had a phenomenal run since the last Dhanteras which was celebrated on November 10, 2023. Notwithstanding this it can still earn returns of 10-12% till the next one.

ICICI Bank are currently trading around the Rs 1,292.85 level, maintaining their long-term uptrend. Recently, the stock broke out of a consolidation phase after pulling back from its higher levels. It has since stabilized near a key demand zone, trading in a consolidating range and signaling a potential trend reversal.

Suzlon Energy stock will be in focus on Tuesday after the company reported a 96% jump in its September quarter consolidated net profit at Rs 201 crore versus Rs 102 crore reported by it in the year ago period. Company's revenue from operations during the quarter stood at Rs 2,093 crore which was up 48% over Rs 1,417 crore reported in the corresponding quarter of the previous financial year.

Dhanteras, a significant part of Diwali festivities, is traditionally associated with purchasing gold, symbolizing wealth and prosperity. While buying physical gold remains a popular option, many investors now seek to invest in gold through financial instruments such as gold funds or gold exchange-traded funds (ETFs). These investment options offer exposure to the precious metal without the hassle of buying physical gold. But with both choices available, the question arises: which one should you choose this Dhanteras? Gold ETFs offer greater liquidity, lower costs, better security than trading physical gold, and can be bought and sold with a single click without any hassle.

Retail investors in the Indian stock markets are surging, a recent report by National Stock Exchange (NSE), highlighted that around 37 lakh new retail investors joined NSE in September taking the total investor base to 10.37 crore. This increase comes as the Nifty index also rose by nearly 3 per cent during the same period, highlighting a continued interest and confidence among investors in the stock markets.

HDFC Securities has buy call on ICICI Bank with a target price of Rs 1,370. The current market price of ICICI Bank Ltd. is Rs 1294.35. ICICI Bank, incorporated in 1994, is a banking company with a market cap of Rs 884615.36 crore. ICICI Bank's key products/revenue segments include interest & discount on advances & bills, income from investment, interest on balances with RBI and other inter-bank funds and interest for the year ending 31-Mar-2024.

Sun Pharma shares will be in the spotlight on Tuesday after the company reported 28% year-on-year (YoY) growth in its consolidated net profit at Rs 3,040 crore in the second quarter. The same stood at Rs 2,375 crore in the last year quarter. Revenue from operations in the reporting period rose 9% YoY to Rs 13,291 crore.

₹1,621 crore from anchor investors. The IPO, valued at ₹5,430 crore, is set to remain open until today (Tuesday, 29 October).

Gold prices held steady on Tuesday as investors looked forward to a slew of U.S. economic data for clues about the Federal Reserve's interest rate outlook.

yen languished near a three-month trough on Tuesday as the loss of a parliamentary majority for Japan's ruling coalition in weekend elections raised uncertainty about the nation's political and monetary outlook. Elsewhere, the dollar eased a touch, though remained not too far from its recent high ahead of major U.S. data releases later in the week that could determine the path for Federal Reserve policy.

Maruti Suzuki will be in focus as the company will report its second quarter results later today. Analysts estimate the will report muted numbers for the July-September 2024 period, mainly due to decline in the volumes. Revenue from operations are likely to remain flat year-on-year, according to an average estimate of four brokerages. Net profit for the quarter is seen falling up to 5% year-on-year, the estimates revealed.

Bezos, the billionaire owner of the Washington Post, said on Monday that his choice for the US newspaper not to endorse a candidate in the presidential election was «a principled decision» and denied it was linked to personal interests. In an op-ed posted to the newspaper's website, Bezos argued that with trust in news media falling, steps needed to be taken to address accusations of partisanship. «What presidential endorsements actually do is create a perception of bias. A perception of non-independence. Ending them is a principled decision,» he wrote.

Mazagon Dock Shipbuilders and CRISIL among 4 companies are likely to remain in focus today as they had announced October 30 as the record date for the purpose of determining eligibility for their announced dividends. This means today is the last day to buy the shares of these companies in order to be eligible for the dividends announced.

earnings season is underway and as many as 139 companies will announce their quarterly numbers for the July-September 2024 period today. Key results to watch out include that of Maruti, Adani Enterprises, Adani Ports, Cipla, Canara Bank, SBI Cards, Hudco. Apart from the above, Apar Industries, APL Apollo Tubes, BCL Industries, Blue Jet Healthcare, Container Corp, Edelweiss Financial, Force Motors, Goenka Business, Kaka Industries, Vedant Fashions, Star Health and a few others will announce their quarterly results.

China's Ministry of State Security said on Tuesday that it had retrieved spying devices both on the ocean surface and in the depths of the sea, including underwater «lighthouses» that could guide the transit of foreign submarines. The ministry said it had uncovered devices that had been hidden on the ocean floor and were sending back information that could «pre-set the field for battle,» in an article on its official WeChat account, China's most popular social media app. Recent sea and air confrontations in the South China Sea between China and the Philippines over competing territorial claims in the highly strategic waterway have raised the risk of an escalation that could eventually involve the U.S., which is treaty-bound to defend the Philippines if it is attacked.

Jash Engineering, Kck Industries and Master Trust will likely remain in focus in today’s session as these companies have fixed October 30 as the record date for the purpose of their respective stock splits. This means today is the last day to buy the shares of these companies in order to be eligible for the stock splits.

NASA astronaut Sunita Williams, known for her pioneering achievements in space, marked this year’s Diwali with a special greeting sent from 260 miles above Earth. Williams, who has spent nearly five months on the International Space Station (ISS), shared her reflections on Diwali, her cultural roots, and the importance of family traditions in a video message aimed at celebrating the Indian festival of lights.

Joe Biden lauded his deputy and Democratic presidential candidate, Kamala Harris, emphasising that he had many reasons for selecting her as his running mate. While addressing the White House Diwali celebrations on Monday, Biden called Vice President Harris a «smart, tough and trusted» leader. He also took a jibe at Harris' rival Republican candidate Donald Trump, saying, Harris has more experience than the «other guy she's running against» and, most importantly, «she has character.»

Donald Trump told supporters Monday he is «not a Nazi,» using a rally in the final week of a bitter White House race to push back on accusations of authoritarianism, including from a former chief of staff who branded him a fascist. As he and rival Kamala Harris entered the final stretch of one of the closest US presidential elections in modern times, each candidate and their teams have ramped up the political rhetoric, bringing an already simmering campaign to a boil. Democrat Harris, who has accused Trump of stoking divisions, was crisscrossing Michigan on Monday while Republican Trump headed to Georgia, another of the decisive swing states, where he said critics are accusing him of being a modern-day «Hitler.»