Experts Financial News

The NSE Nifty index closed 141.15 points down at 19512.35, while BSE Sensex ended down 483.24 points at 65512.39. On the other hand, Adani Ports & Special Economic Zone Ltd.(down 4.90 per cent), Hero MotoCorp Ltd.(down 2.73 per cent), HDFC Life Insurance Company Ltd.(down 2.50 per cent), Mahindra & Mahindra Ltd.(down 2.17 per cent) and Bharat Petroleum Corporation Ltd.(down 2.07 per cent) were among the top losers of the day.

FD tenures, while hiking it on others. Banks like HDFC Bank and Yes Bank have reduced interest rates in October. Here is the list of banks that have reduced fixed deposit interest rates in October 2023. Axis Bank After the latest revision, Axis Bank offers interest rates between 3% and 7.10% on tenures ranging from 7 days to 10 years.

Shares of TVS Motor Company Ltd.(up 1.41 per cent) ended the day as top gainers in the pack. On the other hand, Hero MotoCorp Ltd.(down 2.72 per cent), Sona BLW Precision Forgings Ltd.(down 2.46 per cent), Samvardhana Motherson International Ltd.(down 2.37 per cent), Mahindra & Mahindra Ltd.(down 2.17 per cent) and Tube Investments of India Ltd.(down 1.44 per cent) finished as the top losers of the day.

Reliance General Insurance Company (RGIC), a subsidiary of Reliance Capital Ltd, has received multiple show cause notices from the Directorate General of GST Intelligence, amounting to Rs 922.58 crore. According to sources, the company has received four notices from the DGGI demanding GST of Rs 478.84 crore, Rs 359.70 crore, Rs 78.66 crore, and Rs 5.38 crore respectively, on the revenue generated from the services like re-insurance and co-insurance. According to a tax expert, the RGIC auditors will have to provide for this amount in its quarterly results ending September 30, as a contingent liability. RGIC is the crown jewel of Reliance Capital which is undergoing a debt resolution process through NCLT. RGIC constitutes almost 70 per cent of the total value of Reliance Capital.

Crypto markets are yet again undertaking another game-changing innovation: Bitcoin Minetrix's stake-to-mine system.

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Nifty 50, Sensex decline on Israel-Hamas war: 5 factors that weigh on market sentiment On Monday, Nifty 50 opened at 19,539.45 against the previous close of 19,653.50 and fell 0.90 per cent to the day's low of 19,480.50 while the Sensex opened at 65,560.07 against the previous close of 65,995.63 and fell 0.85 per cent to the day's low of 65,434.61 in Monday's trade so far. Last week, the Nifty formed a small bullish candle with a lower shadow on the weekly chart, indicating buying near the 20-weekly simple moving average.

TCS share price: After announcement of proposal for buyback of shares on 11th October 2023 board meeting, shares of Tata Consultancy Services (TCS) witnessed strong buying interest during morning deals on Monday. TCS share price today opened upside and went on to hit intraday high of ₹3,679 per share on NSE, which is its new 52-week high as well.

Titan share price today: Titan Company share price declined almost 2 per cent in morning trade on BSE on Monday, October 9, following the company's September quarter (Q2FY24) business updates. Titan Company share price opened at ₹3,308.95 against the previous close of ₹3,311.15 and slipped 1.90 per cent to the ₹3,250 mark in the morning trade on BSE. Titan Company share price has gained about 22 per cent in the last one year, outperforming the equity benchmark Sensex which has gained about 13 per cent in the same period.

Siemens Ltd. traded at Rs 3522.6 on BSE at 11:52AM (IST) on Monday, down 0.25 per cent from previous close. The stock quoted a 52-week low price of Rs 2692.0 and a high of Rs 4066.1.

«We already have one conflict in Europe, adding another conflict to that in the Middle East does not really create anything good, so nothing good is going to come out of it is the way we would look at it,» says Vetri Subramaniam, CIO, UTI AMC. It seems like in the conversations as well in the past with a lot of market experts, they were alluding to the fact that if at all there were to be a sort of change in the undertone of the market that would largely be led by global events or global developments. Do you think what we are seeing play out right now warrants a sort of a decisive change in the market sentiment? I am not sure everybody has managed to figure out the geopolitical implications of whatever has happened over the last three days in the Middle East and what that could actually mean for markets, but I think the bigger sort of trend is obviously that this is something which could create a fresh round of instability.

Israel is calling the attack by Hamas this weekend an “earthquake” for the country and people’s sense of security, and says the conflict has become a “battle for national survival.”Chuck Freilich made the comments in an interview with The West Block‘s Mercedes Stephenson on Sunday, a day after Hamas militants launched a slew of rockets into Israel’s south, as well as attacks by land and sea, in what is being seen as an unprecedented attack.More than 600 in Israel have been killed, according to government numbers, with claims by Hamas of capturing military soldiers and reports of residents also being abducted.“This is one of the worst developments in Israel’s history. It’s the first time since the War of Independence in 1948 that Israeli territory was occupied even briefly,” said Freilich, a professor of political science at Columbia University and previously a deputy national security adviser in Israel.“This is an earthquake for Israel, militarily, psychologically, the sense of people’s security, and it’s, I believe, a total different change in the situation, which is going to require responses by Israel on a completely different level.

₹368 against the previous close of ₹369.10 and cracked 5.5 per cent to the day's low of ₹348.85 on BSE in Monday's trade so far. "The company is not going ahead with the proposed QIP issue due to a lesser amount of bids received towards its proposed QIP Issue. The company shall evaluate the viability of a fundraiser at a suitable time," Som Distilleries said on Monday.

Multibagger stock: Balu Forge Industries shares are one of those small-cap stocks on Dalal Street that has delivered stellar return to its shareholders in recent times. This BSE listed stock has surged from around ₹66.50 to ₹220 apiece levels, delivering 250 per cent return to its shareholders.

“Banking, cement, infra, paper, sugar, power and chemicals (as a contra bet) are some of the sectors where we still see reasonable valuations in some pockets,” says Jiten Parmar, Co-Founder, of Aurum Capital. In an interview with ETMarkets, Parmar said: “Many pockets look expensive. One has to look at individual stocks, for example, many stocks from defense, and railways do not have a margin of safety and are looking stretched,” Edited excerpts: Nifty hit 20200 levels and then we saw some bit of healthy profit-taking amid muted global cues. What is your take on markets for the medium to long term? For the medium term and long-term, I remain constructive on the markets. Indian economy is doing fairly well.

Sensex climbed 364 to settle at 65,995 and the broader Nifty advanced 107 points to end at 19,653. Here's what Pravesh Gour, Senior Technical Analyst at Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today. Ujjivan SFB The counter has experienced a notable breakout after consolidating for a prolonged period of two months, accompanied by robust trading volume, as observed on the weekly timeframe. The overall chart pattern presents an appealing opportunity, characterized by its consistent trading above key moving averages. Furthermore, the technical indicators, such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), are in alignment with the current momentum of the stock, thereby providing additional confirmation of its strength. Looking ahead, the resistance level at 65 appears to be a pivotal point to monitor.

offshore funds in financial centres like Singapore. In the past one month around four ultra-high net worth individuals were allowed to remit money to foreign funds whose managers are regulated but not the fund themselves, sources told ET. The development is being closely tracked by private wealth managers and financial experts catering to rich clients who typically park a slice of their wealth in overseas securities, art, properties and funds betting on startups and other investment themes across markets. Such a diversified investment strategy ran into a hurdle a year ago when the Reserve Bank of India (RBI) laid down new dos and don'ts of overseas investments.

mutual funds has scaled a new high, as local fund managers increased their wagers on stocks to benefit from prices that have cooled off from record levels. The equity portfolio value of domestic funds rose to ₹27.90 lakh crore in September 2023, data from NSDL show, driven by increased investment by local funds that offset the impact of redemption by foreign funds (FPIs). Local funds invested more than ₹20,000 crore in equities last month, taking the three-month rolling cumulative investment by them to ₹59,715 crore — the highest in 14 months. It was the second month in a row when domestic funds invested more than ₹20,000 crore in equities. The equity portfolio value of local funds captures all equity-related investments of local funds in equity MF, balance funds, index funds and exchange-traded funds. Consistent expansion in their equity assets under management has increased the MF-FPI equity AUM ratio to 0.51, an all-time high. Cash holdings of local equity funds stood at 5% of their total AUM at the end of August 2023. Cash holdings of large MFs such as SBI MF, ICICI Prudential and HDFC MF were 7.4%, 6.9% and 7.2%, respectively, according to data compiled by Motilal Oswal.

NPS benefit, and he too invests in the pension scheme on his own. Narendra should start by asking his company to replace the medical and conveyance allowances in his salary. These perks are now taxable.

If the stocks you buy decline, you not only suffer a capital loss, but also end up paying interest on the margin. The dreaded margin call from the broker will force you to exit at a loss. ET Wealth has consistently warned investors that borrowing to invest is not a prudent strategy.

The method adopted by the lender impacts the total interest outgo on the loan. The daily reducing balance method is the most cost-effective option for borrowers because the interest is calculated on the outstanding day-end balance on a daily basis. Even though the interest rate of such a loan will be higher, the total outgo on interest will be lower (see table). Daily reducing balance loans are cheapest Interest outgo on car loan of Rs.10 lakh for five years. As is evident, the daily reducing loan at 8.75% works out to be more beneficial to a borrower, compared to a monthly reducing loan at 8.5%.