Lowe's Financial News

Indian rupee ended at a record closing low on Thursday, despite the central bank's likely intervention, as elevated U.S. treasury yields and weakness in other Asian currencies weighed on the local unit. The rupee ended at 83.21 against the U.S.

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agricultural organisation (FAO) that will result into producing a policy paper and a book. “We have ‘save the millets campaign’ since it’s the international millets year.

Mortgage brokers warn that a growing number of their clients are stuck in the so-called “mortgage prison” because they are unable to pass serviceability tests at alternative lenders, despite assurances from the prudential regulator that the rules don’t need to change to support competition.

rising U.S. yields and a slowing Chinese economy sapped momentum from the market's rally. The Nikkei index closed 0.75% lower at 32,991.08, after hitting a high of 33,322.45 in morning trade.

upskilling opportunities that match specific requirements and this presents an opportunity to add over one hundred million people to the workforce, increase the GDP and propel the Indian economy towards $4 trillion, according to a report. These findings were recently shared by Omidyar Network India (ONI) in its report, The Next Frontiers: Skilling and Employability Solutions for the Next Half Billion, with Redseer. The report explores the opportunity of skilling and employing a vast group of people who are entering the workforce in diverse ways. This comes at a critical time when India is already home to a steadily growing work-ready population that is expected to increase till 2049, given our demographic dividend. Meanwhile, our workforce participation is still low at 46%, and especially low for women at 27%. This makes it clear that opportunities for work and skilling for those opportunities need to work hand in hand. The report drills down into a subsegment of the workforce market that it estimates to be about 580 million. The report suggests that the skilling solutions need to be granular to really benefit these different personas and their needs. Of these diverse personas, it highlights the potential demand for upskilling for about 230 million people who are in search of better jobs. These include, according to the report’s definition:

Small-cap stock under ₹5: Vikas Lifecare shares have been in uptrend since last week of August 2023. After closing at ₹3.40 apiece levels on NSE on 25th August 2023, this penny stock below ₹5 has ascended to the tune of ₹5.05 apiece levels during early morning deals, delivering around 48 per cent return to its positional shareholders in near one fortnight.

Multibagger IPO: Bondada Engineering share price listed on BSE SME exchange on 30th August 2023 at ₹142.50 apiece levels, delivering a whopping 90 per cent premium to the lucky allottees. However, the SME stock didn't end here only. It extended its gains further and went on to hit intraday high of ₹149.62 apiece on the listing date, but missed to double allottees' money by a whisker as the fixed issue was offered at ₹75 per equity share.

gold ETFs, other commodities, and ETF and exchange Traded Commodity Derivatives (ETCDs), aiming to reduce overall risk. DSP MAAF will allocate assets based on 3 key but simple factors – long-term expected returns from different asset classes, their realized volatility, and the correlation among each asset class. The key idea is that when assets with low correlation among one another are added to a portfolio, even if one asset class faces a downturn, another one might perform well, potentially smoothening out the investor experience.

Cochin Shipyard jumped nearly 14% to hit their 52-week high of Rs 1,096 on the NSE on Thursday. Today's rally takes the gains to over 20% in four trading sessions. The rally was supported by strong volumes with more than 70 lakh shares trading on the NSE around 9:50 am.

Divi's Laboratories with a target price of Rs 3742. The current market price of Divi's Laboratories is Rs 3692.35.

L&T Technology Services Ltd.(up 0.77 per cent), Wipro Ltd.(up 0.29 per cent), MphasiS Ltd.(up 0.23 per cent), Tata Consultancy Services Ltd.(up 0.08 per cent) and Tech Mahindra Ltd.(up 0.06 per cent) were among the top gainers. Coforge Ltd.(down 1.43 per cent), Infosys Ltd.(down 0.47 per cent), Persistent Systems Ltd.(down 0.32 per cent), HCL Technologies Ltd.(down 0.12 per cent) and LTIMindtree Ltd.(down 0.01 per cent) were the top losers on the index. The Nifty IT index was down 0.13 per cent at 32271.1 at the time of writing this report. Benchmark NSE Nifty50 index was down 25.5 points at 19585.55, while the BSE Sensex was down 97.56 points at 65782.96. Among the 50 stocks in the Nifty index, 19 were trading in the green, while 30 were in the red. Shares of JP Power, Indian Railway Fin, Vodafone Idea, YES Bank and Zomato were among the most traded shares on the NSE. Shares of Responsive Ind., Usha Martin, Cochin Shipyard, IOL Chemicals and Onward Tech hit their fresh 52-week highs in today's trade, while Penta Gold, Bombay Metrics Suppl, Redtape L, Atam Valves and Pyramid Technoplast hit fresh 52-week lows in trade.

TCS and upgraded Infosys to neutral from reduce. Goldman Sachs maintained a buy rating on Indigo while Macquarie maintained an outperform rating on HDFC Bank and CLSA initiated a buy on Amber Enterprises.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: JPMorgan on TCS: Underweight| Target Rs 2650 JPMorgan maintained an underweight rating on TCS with a target price of Rs 2650. The IT company announced a large deal win from JLR worth $1bn TCV over five years. Net new deal that will add $200mn annually to revenues and could potentially add 0.35% each to FY24 and FY25 growth. JLR deal along with the BSNL and Nest deals could together potentially add 3.5% to Q3 growth and 1.8% each to FY24 and FY25 growth. Nomura on IT sector: TCS maintain reduce| Infosys upgraded to neutral Nomura remained cautious on the IT sector given limited visibility on a significant turnaround in discretionary demand for IT services. The revenue growth is likely to pick up in FY25F, aided by large deals.

Bonus shares 2023: Gensol Engineering shares are one of the multibagger stocks that Indian stock market has delivered in 2023. In YTD time, this multibagger stock has risen from around ₹1013 to ₹2026, doubling investors' money in 2023.

₹ 59043 per 10 gm on Multi Commodity Exchange (MCX). MCX Gold for October 5 delivery went on to hit an intraday high of 59056, and a low of ₹59017.

10-month low. It had closed at 83.13. Strong US services PMI data raised bets that the US Federal Reserve will keep interest rates elevated for longer, which lifted Treasury yields.

Indian equities that has swelled the market’s total valuation by $775 billion in a little more than five months has been accompanied by a notable shift in investor preference to smaller stocks. That poses risks as gauges of small and mid-cap shares show signs of overheating, and as the domestic economic outlook becomes more clouded ahead of national elections next year. Smaller companies are seen benefiting more from the ongoing recovery in India’s capital expenditure. Larger stocks, in contrast, have been relatively restrained by worry over the impact of a possible global recession on the nation’s major IT firms, as well as fallout from a short-seller campaign against the sprawling group controlled by billionaire Gautam Adani. The trend is the opposite to what has been seen in the US stock market, which has been driven by a handful of technology megacaps surging on the boom in artificial intelligence, leaving small caps in the dust. The Nifty Midcap 100 Index has risen 37% from a March low, compared with a 16% gain in the blue-chip NSE Nifty 50 Index, driving the ratio of the former to the latter to an all-time high.

DSP Mutual Fund announced the launch of DSP Multi Asset Allocation Fund (DSP MAAF), an open-ended scheme that aims to offer investors long-term returns like what equities may offer but with added resilience against market falls. DSP MAAF aims to benefit investors by diversifying their investments between asset classes like domestic equities, international stocks, debt instruments, gold ETFs, other commodities and ETF & Exchange Traded Commodity Derivatives (ETCDs), aiming to reduce overall risk, a press release said. Historical data has repeatedly shown that the best-performing asset class can vary significantly over the years, making it difficult to predict the winner each year. Hence one’s best bet is to invest across asset classes. DSP MAAF will allocate assets based on 3 key but simple factors – long-term expected returns from different asset classes, their realized volatility and the correlation among each asset class. The key idea is that when assets with low correlation among one another are added into a portfolio, even if one asset class faces a downturn, another one might perform well, potentially smoothening out the investor experience. Further, historical returns of a multi asset model portfolio have shown returns similar to those from domestic equities with significantly lesser volatility than equities.

Street Talk spotted some unusual trading activity in takeover-target Liontown on Thursday morning.

safe-haven demand amid a slowing Chinese economy keeps the dollar ascendant, a Reuters poll of FX analysts found. A stampede into the greenback pushed the wider index of emerging market currencies to its lowest in two weeks on Monday as U.S. Treasury yields and the dollar advanced on expectations interest rates will remain high. The dollar index has surged more than 5.0% since its 15-month nadir in July.

dollar strengthened further against major currencies as investors increased bets for further Federal Reserve policy tightening. The Bloomberg dollar index rose to a fresh six-month high as investors increased expectations for the Fed to hike again this year. Treasury yields drifted higher across the curve Thursday, extending Wednesday increases that pushed two-year yields above 5%.