Lowe's Financial News

Reliance Industries (RIL) share price fell over 2.5% on Wednesday's trade Following news of a significant block deal after market opening. According to news report of CNBC-TV18, about 2 crore shares, or 0.3% of the company, were traded in the block deal, and ₹4,512 crore change hands in block deal window. Reliance Industries share price today opened at ₹2,422.95 apiece on BSE.

Mutual Fund said that investing in multi-asset funds brings diversification, helps manage market cycles, and aims to beat inflation. She suggested that investors consider multi-asset funds as a lower-risk, tax-efficient allocation that beats inflation and participates in equity compounding. Aparna Karnik, SVP, DSP Mutual Fund is the fund manager for DSP's Multi-asset Fund, Value Fund, and Quant Fund.

(Reuters) — Commonwealth Bank of Australia (OTC:CMWAY) on Wednesday said it has partnered with Tesla (NASDAQ:TSLA) to allow the automaker's customers to avail financing for electric vehicle (EV) purchases.

Benchmark NSE Nifty index fell 180.4 points to 19952.9 amid selling in frontline bluechip stocks. However, stocks such as Pramara Promotions, Jiwanram Sheoduttrai, FutureLifestyleFash, Penta Gold and Jalan Transolutions, touched their fresh 52-week low. Overall, 14 shares traded in the green in Nifty50 index, while 35 traded in the red. In the Nifty 50 index, Power Grid, Coal India Ltd, Bajaj Auto, NTPC and Axis Bank were among top gainers, while HDFC Bank, BPCL, Apollo Hospital, RIL and JSW Steel traded in the red. The BSE Sensex was trading 629.44 points down at 66967.4 at 11:05AM(IST). Traders were seen piling up positions in Telecommunications, Term Lending Institutions, Glass, Mining and Tyres sectors, while selling was visible in Banks, Power, Irrigation & Allied Services, Petrochemicals and Metals — Ferrous sectors.

On the BSE, Shiva Granito Export(down 19.92 per cent), Creative Eye(down 13.51 per cent), Balmer Lawrie(down 10.21 per cent), Tiaan Ayurvedic & He(down 10.00 per cent) and Anupam Finserv(down 9.84 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 18 stocks traded in the green, while 32 stocks traded in the red. The Nifty index was trading 173.55 points down at 19959.75. On the BSE, Bheema Cements Ltd., A F Enterprises, Toyam Industries, FutureLifestyleFash and Zodiac Ventures hit their fresh 52-week lows, while HSIL, Jindal Photo, Blue Star, Chaman Lal Setia and Nagpur Power touched their fresh 52-week highs.

Siemens Ltd. gained 0.19 per cent to Rs 3780.05 in Wednesday's session as of 10:25AM (IST) even as the equity benchmark Sensex traded 580.74 points lower at 67016.1. Earlier in the day, the stock witnessed a start to the session.

Investing.com-- Most Asian currencies moved little on Wednesday, while the dollar steadied near six-month highs as markets hunkered down before an interest rate decision from the Federal Reserve due later in the day.

Domestic benchmark index NSE Nifty fell 159.8 points to 19973.5, while the BSE Sensex traded 554.2 points down at 67042.64. On the other hand, HSIL, Blue Star, Jindal Photo, Moksh Ornaments Ltd.

Au Small Finance Bank Ltd. traded at Rs 737.55 on BSE at 10:15AM (IST) on Wednesday, up 1.2 per cent from previous close. The stock quoted a 52-week low price of Rs 548.15 and a high of Rs 794.95. Earlier, the stock saw a gap up opening in the morning. A total of 7,385 lakh shares changed hands on the counter till 10:15AM (IST). The stock of Au Small Finance Bank Ltd.

Indian Hotels Company Ltd. traded 0.84 per cent up in Wednesday's trade at 10:10AM (IST).

GAIL (India) Ltd. rose 0.32 per cent to Rs 123.7 at 10:20AM hours (IST) on Wednesday.

HDFC Bank, Reliance Industries, and Infosys. The BSE Sensex was trading 573 points or 0.85% lower at 67,023. Nifty50 was trading at 20,004, down 130 points or 0.64% at around 9.16 a.m. From the Sensex pack, HDFC Bank, Tech Mahindra, Tata Steel, Bharti Airtel, and Infosys opened with losses, while ICICI Bank, Power Grid, L&T, IndusInd Bank, Axis Bank opened with gains. HDFC Bank opened nearly 3% lower after the bank on Monday said its gross non-performing assets will likely increase as of July 1, after its merger with HDFC. Shares of Bharat Dynamics opened 3% higher after the company signed a contract worth Rs 291 crore with IAF. Sector-wise, Nifty Financial Services declined 0.87% and Nifty Bank fell 0.68%.

BPCL while Morgan Stanley maintained an overweight rating on HDFC Bank. HSBC initiated a buy rating on IIFL Finance and Axis Securities recommended a buy on Hindalco Industries.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on oil & gas sector: BPCL, GAIL India Jefferies downgraded BPCL to underperform from hold and slashed the target price to Rs 310 from Rs 425 earlier. The global investment bank upgraded GAIL India to buy from underperform and raised the target price to Rs 136 from Rs 105 earlier. The company would be a beneficiary of high crude oil prices. Opec + production cuts and low US inventories are likely to keep oil prices elevated.Morgan Stanley on HDFC Bank: Overweight| Target Rs 2110 Morgan Stanley maintained an overweight rating on HDFC Bank with a target price of Rs 2110.

rupee which was at risk of slipping to a record low, four traders told Reuters. The rupee was at 83.2425 to the U.S.

With interest rates nearing a peak in the hike cycle, and bond prices at attractive valuations, accrual and duration strategy-based funds are likely to see incremental inflows, according to 360 ONE Asset. “Accrual and duration strategy-based funds both are likely to have better incremental inflows due to historically high yields, leading to attractive entry points across tenures due to a flatter yield curve,” says Milan Mody, fund manager — fixed income, 360 ONE Asset. Edited excerpts from an interview with ETMarkets:After the latest CPI inflation print in the US, there are growing expectations that the Fed will remain on pause mode. Do you also think so?Our perspective is that the Fed’s rate hike cycle has concluded and is likely to remain on hold with a range of 5.25-5.50%. Currently, the Fed futures are indicating a pause until May’24 and rate cuts post that.

London Fashion Week, which wrapped up on Tuesday.

₹59,222 per 10 gm on Multi Commodity Exchange (MCX), and went on to hit an intraday high of 59,240, and a low of ₹59,222. Around 9.10 a.m., MCX Gold for October 5 delivery traded 0.07 per cent lower at ₹59240 per 10 grams.

US Federal Reserve later in the day. The US dollar index, which measures the greenback against a basket of rivals, stayed mostly flat at 105.13, Reuters reported. On Monday, the rupee depreciated 8 paise to end at a record closing low of 83.27 a dollar.

Investing.com-- The People’s Bank of China held its benchmark loan prime rates at record lows on Wednesday, as it moved to strike a balance between supporting an economic recovery and stemming further weakness in the yuan. 

Investing.com-- Most Asian stocks fell on Wednesday with markets remaining broadly risk-off before a closely-watched interest rate decision from the Federal Reserve later in the day, while weak economic readings from Japan also weighed.

Gold prices fell on Wednesday after hitting a two-week highs in the last session, as traders await the U.S. Federal Reserve's policy decision for an updated outlook on the economy and monetary tightening path. FUNDAMENTALS * Spot gold eased 0.1% to $1,928.79 per ounce by 0111 GMT, after hitting its highest since Sept.