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Markets on Wall Street were largely unchanged early Wednesday after pulling back from record lows a day earlier as investors shed technology and energy sector shares

Hong Kong’s leader has announced a cut in liquor taxes as the Asian financial hub hopes to revive its reputation as a travel destination with a vibrant nightlife and dining scene

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Bitcoin continued its impressive rally, comfortably hovering around the $66k mark at the time of writing. This surge has sparked huge enthusiasm among crypto investors, as the market sentiment remained bullish, fueling what many call “Uptober.”

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Subscribe to enjoy similar stories. Louis Vuitton’s owner seems surprised at how quickly Chinese consumers have closed their wallets and abandoned its brands. It has no obvious place to turn to next for growth.

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Shares of Mahindra Lifespace Developers Ltd.(up 3.13 per cent), Godrej Properties Ltd.(up 2.59 per cent), Phoenix Mills Ltd.(up 1.35 per cent), DLF Ltd.(up 1.07 per cent) and Sobha Ltd.(up 0.32 per cent) ended the day as top gainers in the pack.

Rana Sugars Ltd.(up 1.67%), DCM Shriram Industries Ltd.(up 0.71%), Rajshree Sugars & Chemicals Ltd.(up 0.36%) and Ponni Sugars(Erode)Ltd.(up 0.05%) stood among the top gainers.

For the three months to the end of September 2024, Quilter channel gross inflows and net inflows onto the platform increased by 22% and 31% respectively year-on-year, according to a trading statement published on Wednesday (16 October). Fidelity and abrdn among firms joining new trade body for investment platforms Its IFA channel gross inflows onto the platform increased by 76% year-on-year. Net inflows increased by £1bn on the comparable period to £821m (Q3 2023: £187m net outflow). Quilter CEO Steven Levin said: «In what is traditionally the slower summer quarter, we have deliver...

Rakshit Ranjan of Marcellus Investment Managers says markets have run ahead of fundamentals and hence, if one wants to pick up stocks where upside from positive surprises can come, it requires a lot of bottom-up picking rather than any top-down or broader sectoral calls. Further, Marcellus used to have a far greater exposure to specialty chemicals space in some of their funds until about a year, year-and-a-half ago. It is relatively low now. There are some companies in their small and midcap portfolios where supply side issues are much less worrisome now as compared to about six months ago. These are more B2B and export-oriented chemical companies. What are the expectations with respect to earnings because a large part of the Street believes that we had run up ahead of fundamentals and now earnings have peaked and there are chances of more downgrades than upgrades? Rakshit Ranjan: I agree with your broad assessment. There are two types of challenges at the moment in the stock markets that investors should be aware of. One is earnings are going to be adversely affected by weak external macro and hence, a lot of bottom-up stock picking to ensure you pick up only those companies where earnings growth is coming through despite weak macro is required.

Danish Power, which is the largest in the SME segment this year, will open for subscription on October 22. Investors can bid for the offer till October 24. The company plans to raise nearly Rs 198 crore through the IPO, which is completely a fresh equity sale of 52.08 lakh shares. The IPO is priced in the range of 360-380 per share.

Waaree Energies are in high demand in the grey market as the company announced its price band for its Rs 432 crore IPO. The issue opens for subscription on October 21 and investors can bid till October 23. The current GMP is around Rs 1350, which indicates a premium of nearly 90% over the issue price. The IPO is priced in the range of Rs 1427-1503 apiece. Most analysts expect a multibagger listing for the company if the current demand sustains.

Quant Mutual Fund has invested around Rs 2,000 crore in the Adani Enterprises Qualified Institutions Placement (QIP). The QIP committee has approved the total issue size aggregating to approximately Rs 4,200 crore, under the issue by provisions of SEBI ICDR Regulations. As a percentage of total issue size, Quant Mutual Fund has invested nearly 47% in the QIP. Among the list of participants, a major stake was held by Quant Mutual Fund. Five schemes were from Quant Mutual Fund. Quant Small Cap Fund got the highest stake where around 24.68 lakh shares were allotted which is nearly 17.40% of the total issue size.

construction company Deepak Builders and Engineers will open for subscription on October 21 and close on October 23. The company has fixed a price band of Rs 192-203 apiece. The IPO is a combination of a fresh equity sale of Rs 217 crore and an offer for sale (OFS) of 21 lakh shares.

Subscribe to enjoy similar stories. MUMBAI : Investment strategies can be aligned with specific factors such as value, quality, momentum, low volatility, alpha, or a combination of these. Value and quality are often viewed as opposing strategies, as they target different characteristics of a company.

ICICI Securities has buy call on State Bank of India (SBI) with a target price of Rs 1,000. The current market price of State Bank of India share is Rs 805.2. State Bank of India, incorporated in the year 1955, is a banking company with a market cap of Rs 718387.29 crore. SBI key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2024.

Lakshya Powertech's issue has been garnering strong demand from investors. The issue, which opened for bidding earlier today, was already subscribed 30 times. This demand was driven by retail investors, whose category was booked over 50 times, followed by non-institutional investors at 24 times.

India's trade deficit widened to $20.78 billion on an annual basis in September from $20.08 billion in the same month last year, data from the Commerce Ministry showed on Wednesday. As per a Reuters poll, the economists had expected the country's September data to be $25 billion. India's merchandise trade deficit widened to a ten-month high of $29.65 billion in August.

«If you look at OPEC and their announcements in terms of usage, they continue to revise the fact that consumption is actually going down over time. And we do hear that coming from them,» says Jonathan Barratt, CIO, Probis Securities. I think that we have seen this volatile move in crude oil prices ever since we saw Iran launching that ballistic missile against Israel. We saw that spike in crude oil prices. And ever since then, we have been monitoring the movement quite closely. How are you looking at all of these developments and where it is likely to take crude oil prices from here on? Jonathan Barratt: Look, obviously a lot of volatility, crude prices under a lot of pressure. I guess there is a sense of relief that we get that Israel has decided, based on what the US has maybe just told Israel, that they would not attack any of Iran's oil facilities and we get a sense of relief that. And part of that geopolitical risk has sort of come off. But we have also got other influences there in oil prices, which are making it come down at the moment and that is also, of course, China and some of the weak data we are getting out of there. So, there are some major things at the moment and at the moment, they are causing the price of oil to come lower.

Ambuja Cements Ltd. slipped 0.59 per cent to Rs 586.6 in Wednesday's trade as of 01:44PM (IST). The stock hit a high price of Rs 591.35 and low of Rs 576.4 during the session.