Experts Financial News

Day trading guide for stock market today: On account of weak global market sentiments, Indian stock market extended sell off for yet another session on Friday last week. Nifty 50 index fell 82 points and closed at 19,542 levels, 30-stock index BSE Sensex corrected 231 points and ended at 65,397 mark whereas Bank Nifty index finished 31 points lower at 43,723 levels.

Torrent Pharma, Lloyds Metals, PNB Housing Shares of Torrent Pharma, Lloyds Metals, and PNB Housing will be in focus as the companies will announce their second quarter results. ICICI Bank ICICI Bank reported a 36% growth in net profit for the quarter ended September to Rs 10,261 crore. Net interest income increased 24% to Rs 18,308 crore. Kotak Bank Kotak Bank received RBI nod to appoint Ashok Vaswani as MD & CEO for 3 years.

Sale may not be your regular crusty four-letter word, but it packs quite a punch. Within sniffing distance of festive season, it sends adrenaline racing and minds gearing to succumb to temptation. Triggering a spending mania that grips the entire nation, it knocks over well-laid budgets, disrupting cash flows and relationships, while lifting the fortunes of retailers and sellers. So, it’s no surprise that Flipkart’s The Big Billion Days sale, from 8-15 October this year, recorded 1.4 billion customer visits, with its Plus memberships reportedly witnessing a 60% increase over last year’s sale.

tax demands for close to ₹11,000 crore on dividend income repatriated from India, following a Supreme Court ruling last week. The Supreme Court said on Thursday that the lower 5% withholding tax on dividend income of companies was not available to all Organisation for Economic Co-operation and Development (OECD) countries merely on the most favoured nation (MFN) basis. The apex court held that the 5% rate would be available only to companies based in countries with which India had notified a double taxation avoidance agreement (DTAA) allowing it. In the absence of this, companies have to pay 10% tax on dividend income.

Buy or sell stocks for today: Following weak global market cues, Indian stock market ended lower on third day in a row on Friday last week. Nifty 50 index fell 82 points and closed at 19,542 levels, 30-stock index BSE Sensex corrected 231 points and ended at 65,397 mark whereas Bank Nifty index finished 31 points lower at 43,723 levels.

money managers in Europe say traders are wrong to bet the European Central Bank is done hiking interest rates. As a net energy importer, the region is particularly exposed to rising prices if the crisis in the Middle East escalates, and markets are underestimating the possibility of additional tightening in response, according to Legal & General Investment Management, Vanguard Asset Management and Robeco Groep. That leaves short-maturity government bonds particularly vulnerable. The view clashes with swaps pricing that shows a pause from the ECB virtually baked in this week — and only a 10% chance of a 25 basis-point hike at a subsequent meeting.

Earnings season typically is the time when investors can look past macroeconomic forces and focus on company-specific news moving stocks. This quarter, however, is turning out to be anything but typical. Individual shares have, of course, reacted to earnings announcements in the week or so since Corporate America started reporting results.

Investors would be better off not buying afresh in beaten-down shares of city gas distributors Indraprastha Gas and Mahanagar Gas for now, said analysts. With the proposed road map by the Delhi government mandating a phased shift of all cab aggregators and delivery vehicles, to electric by 2030 seen impacting Indraprastha Gas (IGL), analysts are expecting its shares to continue underperforming in the near term.

VC Spectra (SPCT) became an investor favorite after witnessing 587.5% growth in the presale phase. On the other hand, Monero (XMR) stands tall amid speculations of its delisting from Binance at any time. Meanwhile, dYdX (DYDX) saw a price decline after it announced transitioning into a public benefit corporation.

Reese Witherspoon, along with her company Hello Sunshine, organized the Shine Away event in downtown Los Angeles. This event featured discussions with notable figures and a performance by Dove Cameron. The day began with a standup set by Fortune Feimster, followed by Reese Witherspoon's talk about the creation of Hello Sunshine in 2016. She emphasized the importance of women telling their own stories and being part of the solution. Witherspoon also addressed the ongoing Israel-Hamas conflict, expressing sympathy for those affected. She mentioned that she is not an expert on the situation but wants to send love and light to those suffering. The event included a panel discussion with Witherspoon, Jennifer Garner and Mindy Kaling, moderated by AT&T's Kellyn Smith Kenny. While they couldn't discuss specific past projects due to the ongoing SAG-AFTRA strike, they talked about their entrepreneurial and philanthropic endeavors and their friendship. Witherspoon shared her approach to selecting projects, noting that she prefers lighter, optimistic roles over dark and intense ones. She believes people enjoy seeing her in positive roles that inspire girls. She also revealed her personal struggles with maintaining work-life balance. She acknowledged her tendency to fill her schedule to avoid feeling alone or unsettled and how she realized the need for a change about a year ago.

NEW DELHI : Foreign portfolio investors (FPIs) based in the Netherlands face tax concerns following a Supreme Court verdict last week pertaining to the interpretation of Double Taxation Avoidance Agreements (DTAAs). In its verdict, the Supreme Court clarified that the most favoured nation (MFN) clause in a tax treaty is not automatically triggered and has to be notified separately by the central government. It is common for FPIs based in the Netherlands to believe that their dividends will be subject to a 5% withholding tax in India.

Prince Harry was seen in a jovial mood during his visit to a race track in Austin, Texas, in anticipation of the upcoming US Grand Prix. The Duke of Sussex, sporting a relaxed black polo shirt and jeans, appeared to be thoroughly engaged as he interacted with the Mercedes team, although his wife Meghan Markle was notably absent from the excursion. Eager fans caught glimpses of Harry, who wore a pair of sleek black sunglasses, smiling and waving during the visit on Saturday.

India's top two telecom operators, Reliance Jio and Bharti Airtel, are likely to post improved profitability and cash generation through fiscal 2025, on the back of a likely moderation in 5G capital expenditure and customer churn from this quarter, FY24 onwards, said analysts. «Capex will remain elevated in 2QFY24, but we expect moderation in 2HFY24, which will help improve profitability and cash generation...Airtel and Jio are well positioned over the medium-term with growth levers such as subscriber upgrades, market share gains and tariff hikes that are just a matter of time,» BNP Paribas said in a note. Jio and Airtel managements have been guiding for a moderation in network capex from FY25 onwards with accelerated pan-India 5G rollouts likely to be concluded by December 2023 and March 2024, respectively. «Bharti's management capex guidance implies (annual) India business capex could decline to ₹20,000 crore from FY25 (versus ₹28,000 crore in FY23 and a similar guidance in FY24), though we continue to conservatively build in ₹27,000 crore for FY25,» JM Financial said. Jio, with more than 62 million 5G users, and Airtel, with over 50 million subscribers for the service, have been expanding their networks since the launch in October 2022. Loss-making Vodafone Idea (Vi) has yet to announce its 5G services launch as it is yet to close its much-delayed fundraising. Analysts, though, believe serious monetisation of 5G services is at least a year away despite Jio and Airtel recently taking first steps by launching AirFiber or 5G-based fixed wireless access (FWA) services in a few markets. Some analysts expect Jio to take the lead in hastening monetisation of its 5G-based FWA services by bundling PayTV. «Any

Parliamentary Standing Committee on Home Affairs will meet this week to adopt draft reports on the three bills that seek to replace the Indian Penal Code, the CrPC and the Evidence Act. The panel has informed its members through a notice that the draft reports on Bharatiya Nyaya Sanhita, Bharatiya Nagarik Suraksha Sanhita and the Bharatiya Sakshya Bill will be adopted on October 27.

The NSE Nifty 50 index closed 0.42% lower at 19,542, while the S&P BSE Sensex fell 0.35% to 65,397. Both the benchmarks lost over 1% for the week. Here's how analysts read the market pulse: «On the daily charts we can observe that Nifty is trading at the crucial support zone of 19530 – 19500 where 61.82% Fibonacci retracement level of rise from 19333 – 19850 is placed.

stocks. Stocks that were in focus include names like Bombay Burmah Trading which was up 20%, Angel One was up more than 6% and Paytm was up nearly 2% to hit a fresh 52-week high. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view: Analyst: Kush Ghodasara, CMT, SEBI RA: INH000002137 Bombay Burmah (52-Wk High)

Digital transformation and development of advanced technologies are progressing at full pace in India but cyber experts have expressed concern about the security of the sheer size of data that the country will have to manage, given its neighbouring adversaries as well as the growing sophistication of scammers. Indian technologists and business executives will have to collaborate, cooperate and create a comprehensive ecosystem to tackle tech-driven threats, the experts said on the sidelines of Singapore Cyber Week — 2023 held from October 17-19.

glacial lakes in the country through ground surveys and establish a monitoring system to disseminate information about potential glacial lake outburst floods (GLOFs), according to government sources. This decision follows the devastating floods caused by the Lhonak lake outburst in Sikkim due to heavy rains earlier this month. It resulted in at least 60 fatalities and extensive damage in Mangan, Gangtok, Pakyong, and Namchi districts.

Reliance Industries and Tata Consultancy Services (TCS) taking the biggest hit in an overall weak trend in equities. Last week, the BSE benchmark fell 885.12 points or 1.33 per cent.

Going ahead, the trajectory of FPIs' investments in India will be influenced not only by global inflation and interest rate dynamics but also by the developments and intensity of the Israel-Hamas conflict, Himanshu Srivastava, Associate Director — Manager Research, Morningstar Investment Adviser India, said. Geopolitical tensions tend to elevate risk, which typically hurts foreign capital inflows into emerging markets like India, he added.