Experts Financial News

By Fraser Stark

Sectorally, buying was seen in realty, metal, telecom, public sector, and banking stocks. Stocks that were in focus on Tuesday include names like Prestige Estates (up nearly 10%), Bharti Airtel (that rose nearly 3%) and Escorts Kubota (that closed with over 6% gains to a fresh all-time 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 Bharti Airtel Data is the new gold, and we could notice that Bharti Airtel’s chart which is trending on the upside channel shows strong momentum in the near future. Indicators are in the overbought zone, but internal crossover has signalled a future upside. On Tuesday, the stock took support exactly at 5–10-day average and moved with volume confirming momentum. We could test Rs 985 at the resistance level above which we could get to the Rs 1050 mark while the stop loss can be placed at Rs 924. Prestige Estates The stock has been trading in an upside channel for the last few months and the momentum has been strong.

Nifty on Tuesday which ended about 177 points higher to form a bullish inverted head and shoulder pattern on the daily chart. The positive chart pattern like higher tops and bottoms has started to form and Monday's swing low of 19,480 levels could now be considered as a new higher bottom of the sequence. A decisive move above 19,700 levels is likely to bring a sharp up move for the market towards 19,950-20,050 levels for the short term.

Hamas's determination to use social media propaganda alongside violence, experts say. Mor Bayder's phone didn't buzz on Saturday morning — her grandmother's routine call to ask if she was awake. Instead, she discovered her grandmother's «brutal murder» during the Hamas attack on a village bordering the Gaza Strip posted on Facebook, Bayder wrote on the social network. «A terrorist broke into her home, murdered her, took her phone, photographed the horror and posted it on her Facebook wall.

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TCS reporting its current fiscal's July-September quarter (Q2FY24) earnings, Indian corporates will start disclosing their September quarter scorecards from Wednesday, October 11. Experts are not expecting a firework this time. They believe the numbers will be mostly stable.

India, October 10, 2023: In a rapidly evolving job market where technology and innovation have become the cornerstones and industries are at the cusp of a fundamental technological tilt towards emerging technologies, the need for upskilling and reskilling has never been more critical. The job sector is undergoing a major overhaul, with the demand for new and updated skills increasing rapidly. With more and more companies adopting new-age tools and technologies such as Artificial Intelligence (AI), Big Data, Machine Learning, and Cloud Computing among others, the training and skilling paradigm of jobseekers has changed, which in turn has opened up significant scope for diversified avenues that can provide an uninterrupted pool of ready-to-hire talent.

Daniel C. Silva, former assistant US attorney and shareholder at law firm Buchalter, believes that Sam Bankman-Fried's defense might be setting the stage for a potential appeal if the disgraced crypto boss is found guilty. 

Sebi has notified new rules and extended the deadlines for mandatory confirmation or denial of market rumours by listed companies. This came after Securities and Exchange Board of India (Sebi), through a circular in late September, gave more time to listed companies to comply with the deadlines. The deadline to confirm, deny, or clarify any market rumour reported in the mainstream media has been extended to February 1, 2024 for top 100 listed companies by market capitalisation, as per the circular.

The BSE benchmark Sensex advanced 567 points or 0.87% to settle at 66,079. The broader NSE Nifty surged 177 points or 0.91% to end at 19,689. From the Sensex pack, Bharti Airtel, Kotak Bank, JSW Steel, and Tata Motors were the top gainers, rising 2-3%.

Prestige Estates Projects jumped nearly 19% intraday to hit a fresh 52-week high of Rs 796.40 on the NSE, in turn helping the Nifty Realty index scale its 15-year high level of 612.25. The price action was accompanied with strong volume as more than 69.32 lakh shares changed hands on the NSE around 12:50 pm, with the total traded value of the stock standing at Rs 520.11 crore. The gains were on the back of the real estate company registering the highest sales of Rs 11,007.3 crore in H1 FY24, up 69% year-on-year (YoY), while the quarterly sales jumped 102% YoY to Rs 7,092.6 crore during Q2FY24. The sales during this period is attributed to 6.84 mn square feet volume with an average realisation of Rs 10,369 per square feet, which rose 29% YoY for apartments/villas and average realisation of Rs 6,753 per square feet for plot, up 62% YoY. The group sold 3,659 units during Q2 FY24.

ICICI Prudential Life Insurance Company Ltd. slipped 0.95 per cent to Rs 538.6 in Tuesday's trade. It hit a high of Rs 548.45 and low of Rs 530.0 during the session.

cryptocurrency markets were trading in the red on Tuesday amid geopolitical tensions in the Middle East. Bitcoin was down 0.7% at $27,660, while Ethereum was below the $1,600 level. Meanwhile, the global cryptocurrency market cap declined 1.24% to around $1.08 trillion in the last 24 hours. Other crypto tokens also declined. XRP, Solana, and Dogecoin fell by over 2%. While Toncoin, Polygon, and Polkadot plunged over 3%. «Bitcoin’s price is consolidating above the $27500 mark due to long liquidations following the rising geopolitical tensions in the Middle East and an uptick in oil prices. Bitcoin’s value has currently risen by 66.62% over the year. If the markets turns bearish, Bitcoin will find support at around $27,195,» said Edul Patel, CEO of Mudrex.

Key Takeaways

festive season. The first step is to create a budget to establish how much you can spend. “To avoid it, set a practical budget, keeping it within 50% of your monthly income.

Sonam Udasi, Senior Fund Manager, Tata Mutual Fund believes large caps may offer better value in the near term. However, it is the potential rather than the size that determines the company’s relative attractiveness. In an interview with Mint, he says as India moves from a $2,300 per capita income economy towards $4,000 over the next five years, many new segments, and companies will mushroom and grow robustly.

Israel-Hamas War: The Indian companies that have exposure to Middle East economies have been on their toes for the last few days since the geopolitical tensions erupted in Israel, worried about their operations in the region and the eventual impact on companies' balance sheets. The Israel-Palastine tensions started on October 7 and kept escalating over the weekend. By Monday (October 10), it had turned into a war and the market watchers and investors were bracing for a crash in the Indian stock market.

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Genus Power Infrastructures hit a 5% upper circuit at Rs 273.8 in Tuesday's trade on BSE after the firm bagged an order worth Rs 3,115.01 crore for smart prepaid meters. In an exchange filing, Genus Power stated that its wholly-owned subsidiary had received two letters of awards totalling Rs 3,115.01 crore for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs), including the design of an AMI system and the supply, installation, and commissioning of 34.79 lakh smart prepaid meters, system meters, including DT meters, and associated energy accounting on a DBFOOT basis. The bidding procedure for smart meters has already started in many State Electricity Boards (SEBs), demonstrating the benefits of the 'Reforms-Based, Result-Linked Power Distribution Sector Scheme.' «Our total order book now stands at over Rs 14,000 crore – which gives visibility into robust future revenue growth. We have a strong track record of delivering metering projects on time and within budget.