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portfolio outflows and a decline in most Asian currencies weighed on the local unit. The rupee closed at 84.3850 against the U.S. dollar, nearly unchanged from its close of 84.3950 in the previous session.

IT stocks after Federal Reserve Chair Jerome Powell indicated that strong U.S. economic growth would delay interest rate cuts. The BSE Sensex fell 241 points, or 0.31%, to close at 77,339, while the NSE Nifty slid 79 points, or 0.34%, to finish at 23,453.

Subscribe to enjoy similar stories. The September quarter (Q2FY25) results of FSN E-commerce Ventures Ltd, the parent of Nykaa, showcased robust growth in the beauty business, while fashion was sluggish—mirroring a trend seen in the previous few quarters. Revenues increased 24% year-on-year to ₹1,875 crore, and the Ebitda margin at 5.5% was slightly below estimates.

MphasiS Ltd. 2.7 per cent to Rs 2765.05 in Monday's trade. It hit a high of Rs 2840.00 and low of Rs 2753.45 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 2669.52, while the 50-DMA was at Rs 2974.51. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

HDFC Asset Management Company Ltd. traded 2.08 per cent at Rs 4189.75 at 01:49PM (IST) on Monday, even as BSE benchmark Sensex 234.49 points to 77345.82. The scrip had closed at Rs 4278.75 in the previous session. The stock quoted a 52-week high price of Rs 4862.00 and 52-week low of Rs 2759.75, respectively. As per BSE data, total traded volume on the counter till 01:49PM (IST) stood at 6170 shares with a turnover of Rs 2.58 crore.

Indian Oil Corporation Ltd. traded 0.0 per cent at Rs 134.80 at 12:52PM (IST) on Monday, even as BSE benchmark Sensex 27.63 points to 77552.68. The stock had settled at Rs 134.80 in the previous session. The stock quoted a 52-week high price of Rs 196.80 and 52-week low of Rs 99.20, respectively. As per BSE data, total traded volume on the counter till 12:52PM (IST) stood at 699774 shares with a turnover of Rs 9.39 crore.

Canara Bank 0.66 per cent to Rs 98.10 at 12:57PM hours (IST) on Monday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 605,348 shares with a turnover of Rs 5.88 crore till 12:57PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 5.56, while the price-to-book value ratio stood at 1.27.

«But the way these numbers have been announced after giving the guidance, clearly there is a case of credibility issue to my mind. And the business model, we can all attribute this to the distribution channel, the disruption by Q-commerce, and many more things,» says Hemang Jani, Independent Market Expert. Does the stock deserve to fall by 20%? I mean, okay, numbers are bad, but they are not terrible. Hemang Jani: So, the way the market has reacted, which means that there is a larger concern on the credibility of the numbers that the management has been giving and more so after delivering a very good growth in the last two quarters.

Tube Investments of India Ltd. 0.34 per cent to Rs 3455.95 in Monday's trade as of 12:36PM (IST) even as the benchmark Nifty ruled at 23538.0, 5.3 points. The scrip had closed at Rs 3444.00 in the previous session. The stock quoted a 52-week low of Rs 3130.50 and a high of Rs 4807.05. The company quoted a market-cap of Rs 66409.54 crore on the BSE.

Ambuja Cements Ltd. traded at Rs 548.05 on BSE at 11:24AM (IST) on Monday, 0.62 per cent from previous close. The scrip quoted a 52-week low price of Rs 408.60 and a high of Rs 706.85.

Cummins India Ltd. rose 0.16 per cent to Rs 3323.10 in Monday's trade. It hit an intraday high of Rs 3356.20 and low of Rs 3267.50, respectively, during the day. The stock quoted a 52-week high price of Rs 4169.50 and low of Rs 1779.20.

FII selling that has wiped off nearly Rs 50 lakh crore from the Indian stock market ever since the bull market ended less than two months ago is now giving early signs of a U-turn before the Santa rally season begins in December-end. The pace of sell-off decreased to just about Rs 2,500 crore in the second week of the month after the first week saw foreigners decamping with nearly Rs 20,000 crore.

Laurence Balanco, CLSA, says the upside target for Nifty from the structural moves that we have seen historically for the Nifty is over 37,000 as an ultimate upside target towards the end of this decade. Balanco says there is still further upside and that is why they want to look at opportunities to increase exposure. But they are not seeing the evidence to jump back in. Just over 37,000 is the longer term target for the Nifty in this phase of the bull market off the COVID lows. Which is that one asset class or trade that could be a multi-year short? For example, if someone said they would go short in China, three years ago, that turned out to be the trade of the century. What is that one trade you would say that I would remain short? Laurence Balanco: That is a question without notice. It is off the top of my head on a structural basis. In the near term, the most vulnerable market that we have highlighted has been the Euro Stoxx 600. This market peaked in April, May. This year, there was a dip into the August lows. We had a rally back to those April, May highs where we have stalled out and rolled over. So, it does look like a space that relatively underperforms. And then we have also got this potential double top pattern.

Alibaba Group is aiming to raise $5 billion in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter. The company in a regulatory filing on Monday said it was considering carrying out the transaction.

Aarti Industries, Aditya Birla Fashion and Retail (ABFRL), Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), Granules India and Hindustan Copper. The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Asian stocks dipped early Monday as traders reined in expectations of Federal Reserve interest rate cuts following fresh signs of US economic resilience. Japanese and Australian shares fell. South Korea’s benchmark bucked the trend, led by Samsung Electronics Co.’s rally after it announced a stock buyback plan. US futures gained, after the S&P 500 slid 1.3% on Friday to erase more than half of its gains following the US election.

Elon Musk’s X is lagging in influencer marketing in India despite taking several steps to promote influencers and drive content-led engagement since the billionaire’s $44-billion acquisition of the microblogging platform in 2022, social media experts said. Sreeram Reddy Vanga, chief executive of Nazara Technologies-backed adtech influencer platform Kofluence, said X (formerly Twitter) has plenty of “untapped potential” when it comes to influencer marketing. “The strength of X lies in real-time conversations and trending topics, which can be powerful for brands when used correctly,” he said. “Current estimates indicate that creators might earn around $2 to $3 per month from this programme, which is modest but highlights a clear area for improvement, which X has acknowledged.”

Subscribe to enjoy similar stories. The depreciation of the rupee has always been a political hot potato even though it is a natural trend for an emerging market. The rupee’s value is currently at a low, triggered by the strengthening of the US dollar since Donald Trump’s victory in the presidential election.

Subscribe to enjoy similar stories. India stands out as a compelling growth and transformation story, largely driven by infrastructure, with GDP growth projected at 6.5% or higher in 2024 and 2025—one of the highest growth rates of any peer economy in the world, said Stefan Hofer, managing director and chief investment strategist at LGT Bank Asia. “So, we want to buy that growth." Though, “the natural caution is the valuation," he warned.

Subscribe to enjoy similar stories. The Indian stock market fell for the sixth successive session on Thursday, 14 November, due to weak global trends, a rise in the dollar index, a weakening rupee, and a sell-off from foreign investors. The Nifty50 index closed at 23,532.70 on Thursday, 0.11% lower than the previous close.

Subscribe to enjoy similar stories. At luxury hotspots across the country, early trends point to a revival of sales momentum in the second half of the fiscal year after a lukewarm first half. There is optimism that the ongoing festive season, including weddings, will make up for lost business after luxury sales slowed early this year compared to both 2022 and 2023, according to industry experts.