Experts Financial News

Wall Street strategists call for all-time highs in US stocks in the year ahead, JPMorgan Chase & Co. stands apart, releasing the gloomiest forecast so far among its peers. The S&P 500 Index is set to drop to 4,200 by the end of 2024 — roughly 8% from its current level — as global growth decelerates, household savings shrink and geopolitical risks remain high with national elections including those in the US that could add to policy volatility, according to Dubravko Lakos-Bujas, the bank’s chief global equity strategist.

Domestic benchmark index NSE Nifty ended 36.55 points up at 20133.15, while the BSE Sensex closed 86.53 points up at 66988.44. On the other hand, Navkar Corp, Gufic BioSci, New India Assurance, LGB Forge and Global Education stocks hit their fresh 52-week highs today.

Shares of Prestige Estates Projects Ltd.(up 5.28 per cent), Brigade Enterprises Ltd.(up 4.88 per cent), Macrotech Developers Ltd.(up 3.64 per cent), Sobha Ltd.(up 2.49 per cent) and Phoenix Mills Ltd.(up 2.2 per cent) ended the day as top gainers in the pack. On the other hand, DLF Ltd.(down 1.85 per cent) finished as the top losers of the day.

On the BSE, PM Telelinks(down 11.03 per cent), Wagend Infra(down 9.88 per cent), DAPS Advertising(down 9.42 per cent), Leading Leasing Fin(down 8.63 per cent) and Vivaa Tradecom(down 8.57 per cent) stood among the top losers in today's trade. In the Nifty pack, 32 stocks closed in the green, while 18 stocks ended in the red.

Shares of L&T Technology Services Ltd.(up 1.99 per cent), Wipro Ltd.(up 1.67 per cent), Coforge Ltd.(up 1.16 per cent), HCL Technologies Ltd.(up 0.52 per cent) and MphasiS Ltd.(up 0.41 per cent) ended the day as top gainers in the pack. On the other hand, LTIMindtree Ltd.(down 0.92 per cent), Tata Consultancy Services Ltd.(down 0.74 per cent), Persistent Systems Ltd.(down 0.66 per cent), Infosys Ltd.(down 0.3 per cent) and Tech Mahindra Ltd.(down 0.06 per cent) finished as the top losers of the day.

Sensex gained 87 points and the broader NSE Nifty ended above 20,100. Meanwhile, in November, Sensex advanced 3,071 points or 4.8% to settle at 66,988.

rupee fell to its lifetime closing low on Thursday and was the worst performer among key Asian peers in November which have rallied amid a slump in US yields and the greenback. Likely intervention from the Reserve Bank of India limited further downside for the local unit on Thursday, five traders said. The rupee ended at 83.3950 against the US dollar, lower by 0.08%, compared with its previous close at 83.3250. The local unit posted a slight monthly loss of 0.1%. The central bank «mildly» sold dollars, while a large foreign bank was seen on the buying side, likely on behalf of custodial clients, a foreign exchange trader at a private bank said. The dollar index was last quoted higher at 103.14 but appears on course to register a monthly decline of more than 3%, its sharpest monthly fall in a year. Most Asian currencies jumped on the back of lower U.S.

Drone Technology for Junior Commissioned Officers (JCOs) and Other Ranks Officers (OR) will be extended to in due course. Implemented by the Centre for Educational Technology (CET), Centre for Intelligent Cyber Physical Systems (CICPS), Centre for Drone Technology and IIT Guwahati Technology Innovation and Development Foundation (IITG TIDF), the primary objective of this programme is to modernise the armed forces operations, provide state-of-the-art skills for drone operations and utilities and facilitate a smooth transition for the armed forces as they consider post-retirement career options in the rapidly expanding drone technology sector. Prof. Parameswar K.

The NSE Nifty index ended the session 36.55 points up at 20133.15, while BSE Sensex rose 86.53 points to 66988.44. In the Nifty index, UltraTech Cement Ltd.(up 3.10 per cent), HDFC Life Insurance Company Ltd.(up 2.23 per cent), Eicher Motors Ltd.(up 2.22 per cent), Apollo Hospitals Enterprise Ltd.(up 1.97 per cent) and Sun Pharmaceutical Industries Ltd.(up 1.97 per cent) stood among the top gainers.

interest-rate cuts could be just months away. The benchmark 10-year note yield has fallen by 60 basis points in November, as prices have soared, logging its biggest one-month drop since a 70-bps fall in December 2008, when the Federal Reserve slashed interest rates in response to a struggling economy and a distressed financial system. Yields were last up 1 bp at 4.28% in European trading. The U.S. economy has shown far more resilience than most expected — creating more jobs, maintaining spending and activity and all during 17 months of almost non-stop rate rises from the central bank to lower inflation. Consumer price pressure are abating fast, spending is holding up and there has been enough evidence in the data to suggest the economy is heading for a gentle slowdown rather than recession. In the space of a month, markets have shifted from an expectation for rates to fall by around 60 bps in the second half of the year to pricing a scenario in which the Fed will cut rates by a full percentage point by this time next year, with the possibility of the first drop as early as March. «When it comes to market pricing, a Q1 rate cut has gone from being a complete out-of-consensus view only a month ago, to a serious proposition now.

Anant Ladha, Founder, Invest Aaj For Kal, says if you are a fresher, I would suggest that the IPO market and probably some swing trading is for you and avoid options. As you become an expert in the market and gain skills slowly, you can move towards options as well. Clearly, it is very important for an investor to understand the nitty-gritties involved in having your bets placed for the short, medium or longer-term. But what could be the way to get into a short-term bet in the equity market? In the short term, we have multiple options in the equity market. First is the IPO market. It has been very interesting of late and looking at the Indian economy, I personally feel that if we keep growing, we can have more than 1,000 IPOs in the next five years. So, we can have opportunities out there. The second option can be swing trading, provided you have that skill and you have that mindset of picking up stocks. Swing trading can be a very good option for you.

Udaipur (IIMU) has announced that it will set up the JM Financial Centre for Financial Research in collaboration with JM Financial, an integrated and diversified financial services group. The centre will provide scholars in finance and related disciplines access to world-class resources. The JM Financial Centre for Financial Research at IIMU will engage in academic research in finance and related disciplines, conduct annual workshops, and industry talks, and partner with the BFSI sector and regulatory bodies for action research and seminars.

Man Infraconstruction. These institutional investors invested in Man Infraconstruction company via preferential offer route. The board of directors of the company approved share allotment to these fund houses at a price of ₹155 per share.

Tata Technologies hogged all the limelight on Thursday, the SME IPO of Rockingdeals Circular Economy, which sells refurbished and other products, also doubled on listing. The stock debuted today at a premium of 114% at Rs 300 on NSE SME as against an issue price of Rs 140. After the listing, the stock further rallied and hit an upper circuit of 5% at Rs 315 apiece. Rockingdeals Circular IPO, which was opened for public subscription between November 22 and November 24, received a whopping 312.64 times subscription.

Vedanta Ltd. traded 0.06 per cent lower in Thursday's session at 01:49PM (IST). The stock opened at Rs 234.0 and has touched an intraday high and low of Rs 234.85 and Rs 230.65, respectively, during the session so far.

Tube Investments of India Ltd. dropped 2.68 per cent to Rs 3358.55 at 01:59PM (IST) in Thursday's trade. The scrip hit a high of Rs 3449.95 and low of Rs 3350.55 so far during the session.

DLF Ltd. fell 1.99 per cent to Rs 624.8 in Thursday's trade as of 01:54PM (IST) even as the benchmark Nifty ruled at 20106.75, up 10.15 points. The scrip had closed at Rs 637.5 in the previous session.

Federal Bank Ltd. traded at Rs 147.85 on BSE at 01:29PM (IST) on Thursday, down 1.56 per cent. The stock quoted a 52-week low price of Rs 120.9 and a high of Rs 155.15.

Voltas Ltd. traded 0.62 per cent up at Rs 825.2 on Thursday at around 01:39PM (IST), while the benchmark BSE Sensex declined 100.29 points to 66801.62. As many as 106,236 shares changed hands on the counter with a total value of Rs 8.72 crore.

At a 140% premium over the issue price of Rs 500, Tata Technologies' listing price of Rs 1,200 beat Street's estimates. While the stock was expected to double on the listing, it went far beyond, hitting the day's high of Rs 1,400 on the NSE or a 180% uptick over the upper IPO price band. Reacting on the development, Shivani Nyati, Head of Wealth, Swastika Investmart said that the much-anticipated stock market debut was impressive with a blockbuster premium of 173% over its IPO price.

Indian Oil Corporation Ltd. traded 0.05 per cent up at Rs 108.59 on Thursday at around 01:34PM (IST), while the benchmark BSE Sensex declined 124.06 points to 66777.85. As many as 554,694 shares changed hands on the counter with a total value of Rs 6.0 crore.