The Federal Reserve lowered its key interest rate by a quarter-point in response to declining inflation. This follows a larger cut in September, signaling the Fed’s focus on both job growth and inflation control. While inflation has fallen closer to the Fed’s target, it remains slightly elevated.
Posts in category All News
Key market indices climb down from Trump Tower (08-11-2024)
India’s equity benchmarks fell on Thursday, driven by rising US bond yields and continued selling by foreign investors. The surge in US yields, triggered by Donald Trump’s election victory, has raised concerns about potential slowdowns in US rate cuts, impacting foreign investments in emerging markets like India.
Hindalco stock correction opens up a buying opportunity (08-11-2024)
Experts view the recent drop in Hindalco Industries’ share price as a buying opportunity, citing strong fundamentals. Despite a recent dip due to weak earnings from its US arm, Novelis, analysts remain optimistic about the company’s long-term prospects, particularly its upcoming US facility.
NRB Bearings – EV and exports to drive growth? (08-11-2024)
Decent set of numbers from NRB Bearings. As 2W industry is doing well with improved rural economy company might deliver +20% kind of growth for the next couple of quarters.
Debt reduction has also helped company to save the finance costs and improve PBT.
Disc: Invested, no transactions in 30 days.
Stock Market Live Updates November 8, 2024: Markets open flat after Fed cuts interest rate by 25 basis points (08-11-2024)
Sensex, Nifty, Share Prices LIVE: Sensex opened at 79,611.90, up from its previous close of 79,541.79, and is currently at 79,577.86, reflecting a slight increase of 36.07 points or 0.05 per cent. Meanwhile, the Nifty opened at 24,207.70, above its previous close of 24,199.35, and is trading at 24,214.70, up by 15.35 points or 0.06 per cent as of 9.45 am.
The Federal Reserve on Thursday cut its benchmark interest rate by 25 basis points to a range of 4.5 per cent-4.75 per cent, marking its second reduction, following September’s half-point cut. The Bank of England also reduced rates by a quarter point, only its second cut since 2020.
“Two divergent trends are evident in the market now: one, strength in the global market led by the US and two, weakness in the Indian market. The record setting uptrend in the US market is being driven now by the ‘Trump trade’, expectations of implementation of the promised corporate tax cuts and its positive impact on US corporate earnings,” said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Asian stocks, bonds rally as Federal Reserve cuts rates (08-11-2024)
Australian and Japanese shares advanced along with Hong Kong futures, while the Golden Dragon index of US-listed Chinese companies jumped 3.5%. The S&P 500 gained 0.7% and the Nasdaq 100 climbed 1.5%, both setting fresh peaks for a second day. An index of global equities also advanced to a record.
Pre-market action: Here’s the trade setup for today’s session (08-11-2024)
The short-term trend remains dicey with short-term volatility in the market. Until the Nifty surpasses 24,500 levels, a meaningful upside rally is not expected. At the lows, the Nifty could find support around 23,800 levels, said Nagaraj Shetti of HDFC Securities.
Stocks in news: SBI, Tata Motors, Ola Electric, Vedanta, Indian Hotels (08-11-2024)
NHPC Ltd on Friday reported 41% decline in its consolidated net profit at Rs 909 crore in the second quarter ended September 2024. The same stood at Rs 1546 crore in the last year quarter.
MPS Ltd (08-11-2024)
Q2- FY25
Strategic achievements
- Our top 10 customers now contribute to 48% of our revenue, a much lower customer concentration than when we started this journey in 2012.
- Revenue quality is also improving with platforms responsible for 28% of the consolidated revenue and even more impressively 40% of the consolidated PBT.
3.The theme of improvement in the quality of revenue can also be observed through improvement on DSO to 44 days.
MPS Ltd (08-11-2024)
Q2- FY25
Strategic achievements
- Our top 10 customers now contribute to 48% of our revenue, a much lower customer concentration than when we started this journey in 2012.
- Revenue quality is also improving with platforms responsible for 28% of the consolidated revenue and even more impressively 40% of the consolidated PBT.
3.The theme of improvement in the quality of revenue can also be observed through improvement on DSO to 44 days.