Lowe's Financial News

Markets may be underestimating the risks of both a US recession and one more interest-rate hike from the Federal Reserve, making haven assets a preferred play, according to Pacific Investment Management Co. 

Benchmark NSE Nifty closed 231.9 points down at 19901.4 amid selling in frontline bluechip counters. However, stocks such as SS Infrastructure, Jiwanram Sheoduttrai, FutureLifestyleFash, Shri Techtex and Penta Gold, touched their fresh 52-week lows. Overall, 10 shares ended in the green in Nifty50 index, while 39 closed in the red. In the Nifty 50 index, Power Grid, Coal India Ltd, ONGC, Sun Pharma and Eicher Motors were among top gainers during the day, while HDFC Bank, JSW Steel, RIL, BPCL and SBI Life ended in the red. The BSE Sensex closed 796.0 points down at 66800.84. Traders piled up positions in Telecommunications, Rubber, Term Lending Institutions, Tyres and Consumer Durables sectors, while selling was witnessed in Banks, Petrochemicals, Power, Metals — Ferrous and Electric/Electronics sectors during the day.

₹1.9 lakh crore revenue last fiscal for the industry. Meanwhile, moderating input prices will help offset impact of higher marketing spends keeping margins stable, it said. Last fiscal, retailers had registered a 38% growth on a low base, driven by pent-up demand post the pandemic slump and higher realizations following a steep increase in raw material prices, which was passed on to shoppers.

Nifty closed with solid losses on Wednesday, extending their losses into the second consecutive session amid mixed global cues ahead of the US Fed policy outcome while the US Treasury yields hovered near multi-year highs. The Fed is likely to keep rates unchanged today but the risk of inflation is not over yet with crude oil prices surging sharply in the recent past. Crude oil benchmark Brent Crude futures fell over a per cent in today's trade, slipping from its 10-month high level but they are still up nearly 30 per cent in the last three months after the output cut by OPEC+.

real estate may be a realistic choice for accumulating money as well as planning for retirement. “REITs are now a popular alternative for making investments in real estate despite owning actual buildings in India.

Adani Power Ltd. dropped 2.09 per cent to Rs 366.95 at 02:05PM (IST) in Wednesday's trade.

Explore our selected list of the 8 Best Rubber Hot Water Bottles From muscle soreness and cramps to cozy cuddles, these hot water bottles offer versatile benefits. Whether you're seeking a leak-proof design, extra-large capacity, or a stylish cover, our carefully curated selection caters to diverse preferences and needs. Join us on a journey through the world of rubber hot water bottles, and discover the perfect one to keep you warm and alleviate your discomfort throughout the year.

ICICI Prudential Life Insurance Company Ltd. traded at Rs 589.95 on BSE at 02:00PM (IST) on Wednesday, down 2.08 per cent from previous close. The stock quoted a 52-week low price of Rs 380.95 and a high of Rs 615.55. Earlier, the stock saw a gap down opening in the morning. A total of 22,536 lakh shares changed hands on the counter till 02:00PM (IST). The stock of ICICI Prudential Life Insurance Company Ltd.

Data Protection Board (DPB) under the Digital Personal Data Protection (DPDP) Act, 2023, will be in place in the next 30 days, minister of state for electronics and IT, Rajeev Chandrasekhar said here on Wednesday. «This window between now and the DPB’s constitution is not a holiday… The law is in effect (already),» Chandrasekhar said at an industry consultation on the Rules for the DPDP Act, which became a law in August. He added that breaches that come up during the intervening period will be taken up by the Board once it is constituted.

gas utilities sector, after facing significant volatility in prices and issues on the availability of LNG over the last two years, is now returning to a tentative state of normalcy, said ratings agency ICRA in a note today. The gas offtake by the domestic market is supported by softening LNG prices, uptick in domestic gas supplies, and a regulatory push by the government. The domestic production is projected to witness healthy growth in FY2024, primarily from the Krishna-Godavari Basin, which is likely to keep the reliance on LNG in check. The city gas distribution (CGD) and the fertiliser sectors will continue to drive the demand growth owing to favourable policy support. ICRA expects the demand from the industrial sector to witness a healthy uptick amid soft LNG prices and increasing domestic gas production.

Godrej Consumer Products Ltd. traded 0.48 per cent down at Rs 988.65 at 01:39PM (IST) on Wednesday, even as BSE benchmark Sensex dropped 718.61 points to 66878.23.

Nifty Bank index today opened at 45,493.70 and went on to hit an intraday low of 45,310.05 and an intraday high of 45,745.15. At 1.40 pm, Bank Nifty was 624.60 points or 1.36% down at 45360.65. The Bank Nifty Index, launched in 2000, contains twelve banking stocks that trade on the National Stock Exchange (NSE).

The stock opened at Rs 686.75 and touched an intraday high and low of Rs 688.55 and Rs 676.0, respectively, in the session so far. Shares of the company of Indian Railway Catering & Tourism Corporation Ltd.

United Spirits Ltd. slipped 0.72 per cent to Rs 1037.5 in Wednesday's trade as of 01:14PM (IST). The stock hit a high price of Rs 1044.9 and low of Rs 1024.7 during the session. The return on equity (ROE) for the stock stood at 18.93 per cent.

Investing.com — The U.S. dollar traded in a steady fashion in Europe Wednesday ahead of the conclusion of the latest Federal Reserve policy meeting, while sterling weakened after a surprise drop in the headline U.K. inflation rate.

Bank of England later this week, which is expected to yield a final rate rise in the current cycle. Sterling was last unchanged on the day against the dollar at $1.2382, just above Monday's session trough of $1.2371, its weakest since early June, and flat against the euro at 86.36 pence. The BoE meets on Thursday and money markets show traders widely expect to see one final quarter-point hike to 5.50%, but no realistic prospect of a rate cut until next summer.Inflation has fallen to 6.8% from a 41-year peak of 11.1% last October, but it is still the highest among major economies and progress in bringing it down has been far slower. Consumer inflation in the United States has fallen to 3.7% from last June's 9.1% rate, while in the euro zone, inflation is running at 5.3%, almost half last October's 10.7% reading. UK growth, meanwhile, is slowing more than most economists expected, after strikes in hospitals and schools and unusually wet weather weighed on output in July. Against that backdrop, a Reuters poll of economists last week showed a significant minority believe the BoE has room to raise rates at least once more this year after September. However, expectations for the BoE have softened in the past few weeks. Back in June, money markets showed traders believed UK rates could hit 6% by the middle of 2024, as the central bank was forced to keep tightening monetary policy to tackle inflation. «With the BoE market pricing now more reasonable, and sterling positioning still long, we think it will be harder for GBP to stage fresh rallies in the near term.

BANGKOK (Reuters) — Thailand's new government plans to borrow about 2.4 trillion baht ($66.4 billion) for the fiscal year 2024 starting Oct. 1, up about 9% from the current year, according to market sources briefed by the finance ministry.

Voltas Ltd. traded at Rs 875.45 on BSE at 12:59PM (IST) on Wednesday, down 0.76 per cent from previous close. The stock quoted a 52-week low price of Rs 737.6 and a high of Rs 935.65. Earlier, shares of the company saw a gap down opening in the morning. A total of 24,469 lakh shares changed hands on the counter till 12:59PM (IST). The stock of Voltas Ltd.

Tata Power Company Ltd. traded at Rs 263.8 on BSE at 12:43PM (IST) on Wednesday, down 0.62 per cent from previous close. The stock quoted a 52-week low price of Rs 182.45 and a high of Rs 276.5. Earlier, the stock saw a gap down opening in the morning. A total of 216,639 lakh shares changed hands on the counter till 12:43PM (IST). The stock of Tata Power Company Ltd.

DLF Ltd. traded at Rs 524.0 on BSE at 12:48PM (IST) on Wednesday, down 0.98 per cent from previous close. The scrip quoted a 52-week low price of Rs 336.55 and a high of Rs 544.45. Earlier, the stock saw a gap down opening in the morning. A total of 37,932 lakh shares changed hands on the counter till 12:48PM (IST). The stock of DLF Ltd.

SRF Ltd. traded 2.23 per cent down in Wednesday's trade at 12:53PM (IST).