Posts in category Business Standard
Stocks to Watch: Reliance, Ultratech Cement, AU SFB, NTPC, Gujarat Gas, MGL (30-10-2023)
Stocks to watch on October 30, 2023: Fincare Small Finance Bank is set to merge with AU Small Finance Bank (AU SFB) in an all-share deal; Gujarat Gas has hiked industrial gas price to Rs 45.6 per scm
Gold jumps by Rs 10, silver unchanged, trading at Rs 74,600 per kg (30-10-2023)
The price of 22-carat gold also rose by Rs 10, with the yellow metal selling at Rs 57,410
Stock Market LIVE: Sensex down 200 pts amid volatility; Reliance up 1% (30-10-2023)
Stock market Update on Monday October 30: In the broader market, the BSE MidCap and SmallCap indices were down 0.4 per cent each.
Nifty expected to consolidate; Look to buy Bank Nifty on dips (30-10-2023)
According to Ravi Nathani, an independent technical analyst, the NSE Nifty 50 is likely to trade in the 19,350 - 18,800 range.
SIT conducts searches at 41 locations in Himachal in cryptocurrency scam (29-10-2023)
The SIT probing the alleged multi-crore cryptocurrency scam conducted searches at 41 different locations in Himachal Pradesh on Sunday and arrested one of the main accused Abhishek Sharma, who was evading arrest, police said on Sunday.
Abhishek, a resident of Una district was one of the main four accused in the scam that started in 2018 when the alleged fraudsters approached people with an investment plan related to a locally made (Mandi district) cryptocurrency known as "Korvio Coin" or KRO coin, police said.
Earlier, two main accused Sukhdev and Hemraj were held in Gujarat, and during investigations, the duo confessed they have outstanding liabilities of Rs 400 crore. The alleged kingpin of the scam, Subash, is still at large and is reportedly hiding in Dubai.
Abhishek was apprehended by the SIT and produced in a court, which remanded him to five-day police custody, a statement issued by the police said.
Searches were conducted at 25 places in Hamirpur, seven in Kangra, four in .
Govt directs all private firms to dematerialise shares by September 2024 (29-10-2023)
Move to boost transparency, supervision; small cos exempted
FPIs pull Rs 20,300 cr from equities in Oct; invests Rs 6,080 cr in debt (29-10-2023)
Foreign Portfolio Investors (FPIs) have pulled out over Rs 20,300 crore from Indian equities this month so far, primarily due to a sharp surge in the US treasury yield, and the uncertain environment resulting from the Israel-Hamas conflict.
However, the story takes an intriguing turn on observing FPI activity in Indian debt as they have infused Rs 6,080 crore into the debt market during the period under review, data with the depositories showed.
Going ahead, the future of FPI flows hinges on several factors, including the US Federal Reserve's November 2 meeting and global economic developments, Mayank Mehraa, smallcase manager and principal partner at Craving Alpha, said.
In the short term, FPIs are expected to remain cautious amid global uncertainty and increasing US interest rates. Nonetheless, India's strong economic growth prospects should maintain its appeal for foreign investors in both equities and debt, he added.
According to the data with the depositories, Foreign Portfoli
M-cap of top-10 firms plunge Rs 1.93 trn; TCS, HDFC Bank biggest laggards (29-10-2023)
All the top-10 most valued firms suffered a combined erosion of Rs 1,93,181.15 crore in market valuation last week, with Tata Consultancy Services (TCS) and HDFC Bank taking the biggest hit, in line with bearish trend in equities.
In a holiday-shortened last week, the BSE benchmark tanked 1,614.82 points or 2.46 per cent.
The market valuation of TCS plunged Rs 52,580.57 crore to Rs 12,25,983.46 crore, the most among the top-10 firms.
HDFC Bank's market capitalisation (mcap) slumped Rs 40,562.71 crore to Rs 11,14,185.78 crore.
The valuation of Reliance Industries Limited dropped Rs 22,935.65 crore to Rs 15,32,595.88 crore and that of Infosys tumbled Rs 19,320.04 crore to Rs 5,73,022.78 crore.
The mcap of Bharti Airtel fell by Rs 17,161.01 crore to Rs 5,13,735.07 crore and that of Bajaj Finance diminished by Rs 15,759.95 crore to Rs 4,54,814.95 crore.
ICICI Bank's valuation tanked Rs 13,827.73 crore to Rs 6,39,292.94 crore and that of ITC slipped Rs 5,900.49 crore to Rs 5,40,637.34
Fed rate decision, macroeco data, earnings to dictate mkt trends: Analysts (29-10-2023)
The US Federal Reserve's interest rate decision, global cues, macroeconomic data announcements and the ongoing quarterly earnings are the major triggers that will dictate trends in stock markets this week, analysts said.
Besides, the trading activity of foreign investors and the movement of global oil benchmark Brent crude will also be tracked.
"All eyes are on the outcome of the US Federal Reserve meeting scheduled for November 1, particularly due to the multi-year high levels of the US bond yields. Additionally, the policy decisions of the Bank of Japan will be closely watched.
"Beyond these key events, global factors will also play a crucial role. Economic data releases from the US and China, as well as the ever-changing geopolitical situation, will influence market sentiment," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
Among firms to announce their earnings this week are Adani Green Energy, DLF, TVS Motor Company, Bharti Airtel, GAIL, Hero MotoCorp, Tata Ste
Sebi turns up heat on unregistered influencers giving tips on social media (29-10-2023)
The regulator's order is at least the third high-profile crackdown on a financial influencer this year