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Nifty exhibited a robust recovery on the last trading day of the week, forming a Bullish Piercing candlestick pattern on the daily charts. This suggests a potential pause in the recent downtrend. However, a follow-through of buying is needed to confirm this reversal pattern. The index remains below its 10-day EMA, indicating that buyers are less assertive, with higher levels continuing to act as a selling zone, serving as a strong resistance for the past eleven trading sessions.

Gold, of late, has stopped showing much reaction to traditional drivers like the US yields, the US Dollar Index, key macroeconomic data, etc as bulls are now focused primarily on uncertainties over the US presidential election outcome. In addition, the metal is extending its gains on synchronised global rate cuts, ETF inflows and geopolitical factors also. Spot gold closed with a gain of over 1% at $2721 on Friday, and was up nearly 2.2% on the week.

NSE) will conduct its annual Diwali Muhurat trading session on Friday, November 1, 2024, from 6:00 PM to 7:00 PM, marking the beginning of the Hindu calendar year Samvat 2081. While the market will be shut for normal trading to mark Diwali, the special trading window will be open for just one hour in the evening. NSE said that the pre-opening session will be conducted from 5:45 pm-6:00 pm.

earnings season is underway and as many as 182 companies will declare their results this week. Some of the marquee names include ICICI Bank, YES Bank, ITC, Bajaj Housing Finance, HUL, Ultratech Cement, Bajaj Finance, Bajaj Finserv, IndiGo, Paytm, and Zomato among others. Here are the key earnings to watch out next week

public sector companies as they may be privy to market-sensitive information with regard to state-owned companies, an official said. In an internal order, the DIPAM said that any officer joining the department would be required to declare his/her holding in public sector enterprises and such shares could only be liquidated by the official concerned after approval from authorities. DIPAM, under the Ministry of Finance, manages government equity in public sector companies and is also responsible for undertaking minority stake sale, strategic disinvestment and privatisation. «DIPAM has issued an internal order saying that officers in the department will not buy or share shares of state-owned companies. The idea behind this is officials in DIPAM may be privy to some information which can be affecting the share prices of companies. It should not be so that they stand to benefit from that information,» the official told PTI.

Indian indices rebounded from the day's lows aided by private banks to end the session in the green as they broke their three-sessions losing streak. The 30-share BSE Sensex rose 218 points, or 0.27%, to settle at 81,224, while the broader Nifty climbed 104 points, or 0.42%, to close at 24,854. Commenting on the day's action, expert Rupak De of LKP Securities said that Nifty moved up sharply after pressing a panic bottom around 24,570 when it slipped below 24,700 level. «On the hourly chart, a positive divergence is visible on the RSI (14), indicating a shift toward positive price momentum. Immediate resistance is seen at 24,900, which previously acted as support. A decisive move above 24,900 could induce a short-term rally. The trend is likely to remain strong as long as the Nifty stays above 24,750,» De said.

ICICI Bank and HDFC Bank emerging as the biggest gainers. Last week, the BSE benchmark declined 156.61 points, or 0.19 per cent. While HDFC Bank, Bharti Airtel, ICICI Bank, and the State Bank of India were the gainers, Reliance Industries, Tata Consultancy Services (TCS), Infosys, Hindustan Unilever, ITC, and Life Insurance Corporation of India (LIC) suffered a combined erosion of Rs 76,622.05 crore from their market valuation.

Around 20 companies from Asia Pacific are listing shares next week in deals that may raise as much as $8.3 billion, the biggest weekly volume since April 2022, according to data compiled by Bloomberg. The heavy supply includes deals from China, India and Japan, underscoring the broad revival in share sales across the region.

And Prime Minister Narendra Modi’s ambitions to fashion a developed nation by 2047 — India’s centennial as an independent country — has some of the world’s most deep-pocketed investment firms lining up to get a piece of the action. They’re betting the transformation will inevitably lean heavily on the country’s developing credit market.

IPO) of engineering and construction company Deepak Builders and Engineers, which will open for subscription on October 21, is currently trading at a premium of 23% in the unlisted market. The shares of the company are trading at a grey market premium (GMP) of Rs 50.

Following JPMorgan, Citi, Goldman and Bank of America, Morgan Stanley today announced its third quarter results. They look great if you're a shareholder. They seem less good if you're an employee. 

Everything’s fantastic and nobody’s happy.  That seems to be the message from the bumper day of Q3 results from Goldman Sachs, Bank of America and Citigroup yesterday.  All three big banks beat their earnings estimates, and credit for the beats had to be given fairly and squarely to the investment banking divisions. It would have been reasonable to conclude, as several commentators did, that “Wall Street bonuses have just been salvaged”.

“Hedge fund quant” is a pretty sexy job description, but the reality is not always as glamorous.  Hardly anyone spends their days trying to create new magical algorithms to beat the market.  Instead, there’s a lot of model validation, code optimisation and endless, endless data cleaning.  It’s often joked that as much as 30% of the job of being a quant is just sitting around making adjustments for bank holidays.

critical minerals to the United States, upgrading the bilateral memorandum of understanding (MoU), commerce and industry minister Piyush Goyal said on Saturday. “We suggested that critical mineral MoU be converted to a critical mineral partnership and become a starting point to become an FTA (free trade agreement),” Goyal told media persons. Earlier this month, the two sides inked an MoU to strengthen supply chains for critical minerals in electric vehicles (EVs) and other clean energy applications, including cobalt and lithium, during Goyal’s visit to the US. Officials said that the conversion of the MoU into a partnership agreement would give it the status of an FTA that would enable India to benefit from the EV tax credit that the US gives under its Inflation Reduction Act. The tax credit depends on critical minerals’ origins, requiring that a percentage of materials in EV batteries come from the US or countries with which the US has an FTA. The access to the US EV tax credit of up to $7,500 per vehicle would attract substantial foreign investment and make large-scale manufacturing of components in India commercially viable. The MoU between India and US falls short of a full critical minerals trade deal that would allow India to explore the $7,500 US EV tax credit.

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Kotak Mahindra Bank reported a 5% year-on-year rise in standalone profit to Rs 3,344 crore in the quarter ended September 2024 from Rs 3,191 crore a year ago led by a 11% rise in net interest income even as margins fell and provisions for non-performing assets increased. The bank's profit was lower than the Rs 3424 crore expected by a Bloomberg poll of analysts. Profit was helped by a 11% growth in net interest income (NII), or the difference between the interest earned on loans and that paid for deposits, led by a 17% growth in advances to Rs 4.19 lakh crore as at September 2024.

Subscribe to enjoy similar stories. Tourism is back, at last. This year the number of trips abroad is expected to overtake levels reached in 2019.

ET Now: Give us a sense of the moves we've seen in the market this week. What is your take on the volatility we’ve experienced, with the market being in the red most of the week? On the last trading day, we saw a mild recovery. Do you think this is the start of a recovery, or is it just a one-off good day?

market scenario is characterised by heightened volatility due to geopolitical tensions, US election cycles, and recessionary fears. To handle the market-wide fluctuations, the investors must strategically position themselves to generate optimal returns with a lesser risk. While expecting higher returns is important, it is crucial to consider the risks involved. During periods of market corrections, many investors succumb to panic selling, ultimately crystallizing losses that could have been mitigated. Portfolio diversification can serve as an effective strategy to buffer against systemic risks and enhance risk-adjusted returns in these uncertain times.

Nifty remained largely on a declining trajectory, except for the last trading day where it saw some relief rally from the lower levels. Following a strong weekly decline of 1167 points two weeks ago, the Nifty has thereafter traded relatively in a lesser range but has by and large exhibited a weak bias. The trading range this time remained similar to that of the previous week; the Nifty oscillated in 644 points over the past five days. The volatility remained stagnant; the India VIX came off by 1.38% to 13.04 on a weekly basis. While continuing to find short-term pattern support, the headline index closed with a net weekly loss of 110.20 points (-0.44%). Many important levels have been tested over the past week; a few important levels need to be watched as well. The Nifty tested the 20-week MA, which currently stands at 24657. The 100-Day MA is currently at 24507. This makes the 24500-24650 a very important support zone for the index. On the other hand, the derivatives data show a maximum accumulation of Call OI in the 25000-25100 range, making these levels an immediate resistance area for the markets. This is likely to keep the markets in a capped range; if the technical rebound extends itself, it is likely to find resistance in the 25000-25100 zone. In the same breadth, markets would get weaker if the 24650-24500 zone is violated on the downside. So long as either of these ranges are not violated, expect the Nifty to oscillate back and forth in a defined range.