Week Financial News

Investing.com-- Gold prices rose to a near three-week high on Tuesday, tracking some weakness in the dollar and Treasury yields as markets awaited a slew of key U.S. economic readings due later this week.

GAIL India, a part of the gas transmission industry, is consolidating around the breakout area of a rounding bottom pattern on the daily charts, which suggests that a technical bounce back could be on the cards.Short-term traders can buy the stock for a bounce back to Rs 130-134 levels in the next 5-7 weeks, suggested experts.The stock entered a corrective phase from June 2021 when it hit levels around Rs 110-113, which acted as a stiff

Stocks closed higher on Wall Street as markets shift their attention from the Federal Reserve to more corporate earnings and economic reports

Being one flight away from both Dubai and London, Istanbul is the “financial capital” of Turkey and a popular destination for events and organizations. Its convenient location also helps organizers customize their events to align with the specific needs of Eastern or Western cultures — which felt like the case at Istanbul Blockchain Week 2023.

Bitcoin (BTC) starts a new week struggling with $26,000 as August becomes its worst month of 2023.

NASA Solar System Exploration, Saturn will be 5 degrees to the upper right of the Moon. The planet with rings of gas will appear full for 3 days around the peak of the full Moon, from Tuesday night to Friday morning. This Blue Moon will be the second full moon this month after the Full Sturgeon Moon rose on 1 August.

global market sentiment. Both the Sensex and the Nifty50 are down over 2 per cent in August so far amid concerns over the resurgence of inflation, chatter around more rate hikes by the US Fed, elevated US bond yields and the dollar index and rich valuation of the Indian market. Experts are of the view that the market's near-term outlook is hazy as it is struggling to find a positive trigger.

Even as the Nifty and Sensex consolidates with corrective moves in range bound mode. The mood on the street is still bullish and “hope” continues to be the dominant factor on the street.

On Tuesday, the government reports on job openings for July; Pet food and supplies company Chewy reports financial results on Wednesday; On Friday, the Labor Department releases its August jobs report

The following list of stocks in the headline index Nifty50 were given a “Strong Buy/Buy” recommendation in the latest Stock Reports Plus report dated August 27, 2023. Analysts’ recommendations are provided using Institutional Brokers' Estimate System (IBES) to provide you actionable insights.

Beijing on Sunday announced it would halve the stamp duty on stock trading in the latest attempt to boost the struggling market and revive investor confidence. The help was needed given profits at China's industrial firms fell 6.7% in July from a year earlier, extending this year's slump to a seventh month. Chinese blue chips shed 2% last week to hit its lows for the year so far, and all eyes will be on the official PMI for August out on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.2%, having eked out minor gains last week to break a three-week losing streak. Japan's Nikkei rose 0.9%, underpinned in part by the persistent weakness of the yen. S&P 500 futures edged up 0.1% and Nasdaq futures 0.2%, extending last week's modest rise. The market did manage to weather a slightly hawkish outlook from Federal Reserve Jerome Powell, who reiterated they might have to raise rates again but promised to move «carefully». «We take this to mean that the FOMC does not intend to hike at the September meeting,» wrote analysts at Goldman Sachs. «We continue to expect that the FOMC will ultimately decide that further policy tightening is unnecessary, making the hike at the July FOMC meeting the last of the cycle.» Futures imply around an 80% chance of a steady outcome at the Sept. 20 meeting, and a 54% probability of a hike by year end. DOWNSIDE RISK ON JOBS Much will depend on the flow of U.S.

Paras Defence and Space Technologies, part of the defence and aerospace industry, has rallied by about 20% in a week which pushed the stock to a fresh 52-week high and the chart pattern suggests that the rally may not be over.The stock after hitting a 52-week high of Rs 841 on August 24, 2023, failed to hold on to the momentum. It witnessed some selling pressure on Friday but held above crucial support levels.

Netflix as over 50 fascinating new titles are about to arrive on your screens. It's the ideal opportunity to see what lies ahead as we begin a new week. With a treasure trove of entertainment, Netflix is all set to keep you glued to your screens throughout the week. From riveting documentaries to heartwarming rom-coms, there's something for everyone in this week's line-up. Get ready for a week of streaming joy!

Amazon Prime Video is set to premiere The Wheel of Time Season 2 this week, generating significant anticipation. The streaming service is offering a diverse array of content for the week ahead. Amazon Prime Video is introducing multiple new releases in the coming days. A substantial influx of over 300 movies and shows is scheduled to arrive on Friday, September 1, marking a notable surge in offerings. The streaming platform routinely refreshes its library by adding and removing content, encompassing TV shows, documentaries, and movies. This practice is aimed at sustaining viewer engagement and complying with legal obligations.

As the crypto market continues its dance of unpredictability, one coin is catching significant attention: Rollbit's RLB token. On 27th August, the RLB/USD trading pair displayed an encouraging uptick, registering gains of nearly 0.10%. 

Stocks on Wall Street ended a volatile session higher on Friday as investors digested comments from Federal Reserve Chair Jerome Powell that the U.S. central bank may need to raise interest rates further to ensure inflation is contained.

US jobs data. This week, COMEX Gold prices saw an uptick, marking their first weekly gain in four weeks, even amid a significant surge in the US dollar. Previously, spot gold prices had dipped below the critical $1,900 per troy ounce threshold due to various factors, including US retail sales data and somewhat hawkish Federal Open Market Committee (FOMC) meeting minutes.

gold closed with a gain of nearly 1.40% at $1914.60 meanwhile the total known global gold ETF holdings fell by around 0.15 million troy ounces in the week as outflows accelerated. But the highlight of the week was much-awaited Federal Reserve Chair Powell's speech at the Jackson Hole symposium on Friday. Powell didn't offer any clear clues about the possibility of a pause in the Federal Reserve's rate hike campaign as he continues to deem inflation to be quite high.

corporate actions scheduled for this week. Birla Corporation, GMM Pfaudler, APL Apollo Tubes, Tanla Platforms, Gujarat State Petronet, and Metro Brands will trade ex-dividend, while Remedium Lifecare will ex-split this week.Bannari Amman Sugars (Rs 12.5/share), Precision Wires India (Rs 0.36/share), Wardwizard Innovations & Mobility, and Aaron Industries will trade ex-dividend on Monday, 28th August.

SME IPO will close this week. Primary market from 19 to 25 August has been quite fascinating, with three mainboard IPOs opened for raising a total of Rs 750 crore, said Mahavir Lunawat, Managing Director of Pantomath Capital Advisors. Mainboard IPO Aeroflex Industries received an enthusiastic response from the investors with subscription figures on the final close day reaching approximately 100 times of the base offer, said Lunawat. «Robust response for the fundamental companies in the primary market shows that retail and HNI’s investors have shown maturity for investing in the fundamentally strong companies in order to ride the Indian growth momentum,» Lunawat added. IPO amounting close to Rs 6000 crore is expected to open in the next weeks to keep the investors busy in action, Lunawat further stated. Main Board IPOsRishabh InstrumentThe initial public offer (IPO) of energy efficiency solutions company Rishabh Instruments will open for public subscription on August 30.

Jerome Powell could prompt investors to continue booking profits. The week ahead is also eventful for Dalal Street investors from a corporate standpoint.Mukesh Ambani the Chairman of Reliance Industries will address the shareholders at the company’s 46th annual general meeting on Monday, which will be closely tracked by investors. The next big event for the market is the Supreme Court’s hearing on Tuesday in the Adani-Hindenburg case. Volatility is expected to be high in the market, according to experts, given weak global sentiment and domestic events. “Equity markets are expected to remain volatile due to weakness in the external environment,” said Hemant Kanawala, senior EVP and head — equity, Kotak Mahindra Life Insurance Co. While corporate earnings of Indian companies are showing strong growth, valuations aren’t cheap, and there is limited room for them to expand, Kanawala said, adding that investors are likely to get returns in line with earnings growth till the end of the year.RIL AGMIn the last few years, some of the big bang announcements from Ambani have usually come at the AGM.