Lowe's Financial News

Forex traders said falling domestic inflation, rise in industrial production figures and improvement in trade deficit aided the local unit. However, geopolitical tensions, particularly the Israel-Hamas conflict, dented investor sentiments. At the interbank foreign exchange, the domestic unit opened at 83.25 against the dollar and then touched an early high of 83.24, registering a gain of 6 paise over its previous close. On Friday, the rupee fell 6 paise to settle at 83.30 against the US dollar. «For now, a mild risk-off stance supports USD demand, but positive economic data and RBI intervention maintain the rupee's range between 83.05 and 83.30. The situation remains delicate, with the potential for rapid shifts in response to geopolitical developments,» CR Forex Advisors MD-Amit Pabari said. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.10 per cent down at 106.53. Brent crude futures, the global oil benchmark, advanced 0.11 per cent to USD 90.99 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 161.12 points or 0.24 per cent lower at 66,121.62.

Bharat Forge Ltd. traded at Rs 1120.25 on BSE at 11:01AM (IST) on Monday, up 0.25 per cent. The stock quoted a 52-week low price of Rs 743.0 and a high of Rs 1147.95.

NEW DELHI: As investors remain worried over the impact of merger, HDFC Bank shares have been underperforming with an 8% drop in the last one month. Ahead of the release of its Q2 earnings today, Anand James, Chief Market Strategist at Geojit Financial Services, says the present set-up doesn't convince a sustainable recovery. “Towards this end, we eye the prospects of rejection trades emerging this week, unless there is a close above Rs 1575/1612,” he says. Edited excerpts: Nifty saw some buying at lower levels last week. What would be your strategy going ahead as IT stocks are likely to see more downside pressure? Barring Infosys, IT stocks like TCS, HCL Tech and Tech Mahindra, which together form 11% of Nifty, seems to have found a base around their respective rising trendline supports hinting a bounce back. Towards this end, we do not expect IT stocks to be slowing down Nifty, but banks might.

GAIL (India) Ltd. gained 1.4 per cent to Rs 130.0 in Monday's trade. It hit a high of Rs 130.2 and low of Rs 128.25 during the session.

HDFC Life and Goldman Sachs recommended a buy on Paytm. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on Avenue Supermarts (D-Mart): Hold| Target Rs 3850 Jefferies maintained a hold rating on Avenue Supermarts (D-Mart) but raised the target price to Rs 3850 from Rs 3700 earlier post September quarter results. Q2 EBITDA was below estimates on lower GMs and higher staff costs. General merchandise and apparel mix remained muted which led to margin pressure. H1 SSSG at 8.6% is respectable with improving footfalls that is evident from higher per-store transactions. CLSA on ICICI Prudential Life Insurance: Buy| Target Rs 700 CLSA maintained a buy rating on ICICI Prudential Life Insurance with a target price of Rs 700.

ICICI Lombard General Insurance Company Ltd. traded 1.34 per cent up in Monday's trade at 10:05AM (IST). Around 1,695 shares changed hands on the counter.

LTIMindtree Ltd. traded 1.43 per cent up at Rs 5169.9 on Monday at around 10:00AM (IST), while the benchmark BSE Sensex declined 105.36 points to 66177.38. As many as 4,981 shares changed hands on the counter with a total value of Rs 2.56 crore.

Avenue Supermarts fell over 4% in the early trade on Monday to the day's low of Rs 3,772.75 after top brokerages highlighted sustained margin pressures in the company's operations while a couple of them cut their FY24 net profit estimates. Among them were Jefferies which reiterated a 'Hold' on the stock, citing concerns over the company's general merchandise & apparel mix business which drove margin pressure. Kotak Institutional Equities, though raised its price target, recommended a 'Sell' on the stock. Meanwhile, both Nuvama and Motilal Oswal cut FY24 profit after tax (PAT) estimates even as they maintained a buy rating on the counter.

Domestic benchmark index NSE Nifty fell 17.45 points to 19733.6, while the BSE Sensex traded 99.01 points down at 66183.73. On the other hand, Tantia Const, Prakash Pipes, MSTC Ltd., Landmark Prop and Jai Corp stocks hit their fresh 52-week highs today.

Bandhan Bank Ltd. rose 1.53 per cent to Rs 244.5 at 10:10AM hours (IST) on Monday. Earlier in the day, the stock saw a gap up start to the session.

Japan's former top currency diplomat, recalls how Chinese policymakers eagerly studied ways to avert a Japan-style burst of an asset bubble that led to prolonged deflation and economic stagnation — until around 2015. «Then they stopped. In the past seven to eight years, they seem to be ignoring everything they learned,» said Watanabe, who retains close ties with incumbent policymakers.

personal loan. However, are all such loans available from banks or fintech organisations worth your choice? You may need a loan to pay off some expenses, repay an existing loan, or for debt consolidation. Whatever the reason may be, the easy availability of these loans must not be the sole criterion for applying for them.

Stocks that were in focus included names like HDFC AMC, which rose 3.52%, Britannia, which fell 2.23%, and Tata Consumer, whose shares jumped 2.15% on Friday. Here's what Pravesh Gour, Senior Technical Analyst at Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today. HDFC AMC The counter is in a classical uptrend and a breakout of symmetrical triangle formation with strong volumes. The overall structure is very bullish as it trades above its all-important moving averages. One can take a position at CMP Rs 2855 as it created a strong base around Rs 2650 at 9 and 20-DMA for a target of Rs 3140. Infosys It is continuously forming higher highs and higher lows.

Hamas. Israel's shekel sank to a nearly eight-year low, after the country's prime minister, Benjamin Netanyahu, vowed to «demolish Hamas» in retaliation for the rampage on Oct. 7 that killed 1,300 people in the worst attack on civilians in Israel's history. U.S.

cautious trade as tensions in the Middle East escalated, while investors awaited a speech by Federal Reserve Chair Jerome Powell later this week for further clues on the U.S. central bank's rate outlook. The Israeli shekel fell to more than an eight-year low of 3.9900 per dollar in early Asia trade, after the country's Prime Minister Benjamin Netanyahu vowed on Sunday to «demolish Hamas» as his troops prepared to move into the Gaza Strip in pursuit of Hamas militants. Carry trades funded by the yen could be the biggest casualty of further escalation in the war, analysts said, as global investors who have for months been shorting the yen to invest in higher-yielding currencies buy it back as a safe-haven. The yen was last steady at 149.53 per dollar. The Japanese currency, which is near to potential intervention levels around 150, could also rally if the Fed has to stop hiking rates even as the Bank of Japan feels compelled by domestic inflation to tighten policy.

Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here Moody’s Investors Service postponed a planned review of Israel’s rating on Friday, saying it continued to evaluate the wider credit risk of recent hostilities. The resilience of Israeli debt issuers is at stake if a conflict stretches on, the ratings agency said in a separate note earlier last week.

Also Read: 6 things that changed for the stock market over the weekend - Gift Nifty to falling US consumer sentiment Here’s what to expect from Nifty and Bank Nifty today: On the weekly chart, Nifty formed a long bull candle at the lows, post hammer candle pattern of last week. “The bulls were able to protect the level of 19600 during the day, thanks to the strong open interest (OI) build-up at the 19,600 strike price by put writers. The strength may continue as long as the index remains above 19,600.

₹2,910 apiece on Friday. The September quarter (Q2FY24) results have brought cheer. Kotak Institutional Equities analysts point out, “HDFC AMC’s Q2FY24 results were near perfect, with both headline/core earnings up 20% year-on-year along with strong operating metrics such as fund performance, customer addition, SIP flows and yield expansion." HDFC AMC’s Q2 profit stands at ₹438 crore.

Pakistan on Saturday, which called for celebrations. But for Rohit Sharma's men, all that can wait till November 19 as there's a long way to go in the ongoing World Cup. While the entire country was jubilating, the architects of the victory decided to keep it low key as a good beginning is only half the job done.

Investing.com — Two factors will determine the direction of oil markets in the coming week. The first is how much the conflict in the Middle East could escalate and what it might mean for supplies in the world's top oil producing region. The second is what will the weekly update on US crude stockpiles look like on Wednesday.

Yesterday I reviewed numbers that show that the 2023 advance in the S&P 500 Index continues to post a high return when set against historical calendar-year results. Encouraging, but it’s still premature to dismiss the view that the market remains in a bear-market rally.