Sensex and Nifty indices closed higher on Tuesday due to late buying in banking stocks and a positive global market trend. Maruti Suzuki fell 4.16%, Cipla dropped 1.6%, and Adani Ports surged nearly 2%. Experts advise investors to buy on dips for these stocks with specific target levels.
Posts in category Economic Times
US election uncertainty lifts gold prices to record high (30-10-2024)
Gold hits a record high at $2,778.79 per ounce due to U.S. election uncertainty and upcoming economic data. U.S. gold futures also rise, showing a bullish market. Investors are focused on forthcoming economic indicators, including ADP employment data and the Fed’s interest rate decision on Nov. 7.
US dollar rally pauses before jobs data, Aussie droops on RBA outlook (30-10-2024)
The dollar is close to a three-month peak with mixed U.S. indicators on jobs and consumer confidence. Australia’s rate cuts appear unlikely due to high inflation in services. Rising speculation on Trump’s election victory impacts markets. In Europe, GDP data will influence ECB rate decisions, while the UK’s budget seeks to address financial gaps.
Oil prices steady on shrinking U.S. crude inventories (30-10-2024)
Oil prices stabilized after a surprise drop in U.S. crude and gasoline inventories. Brent crude and U.S. West Texas Intermediate crude saw slight gains. This came after two sessions of losses due to easing Middle East hostilities. Official U.S. government data on crude oil and fuel stocks is expected later.
Nasdaq hits record high as Alphabet earnings beat estimates (30-10-2024)
The Nasdaq reached a record high, while the S&P 500 rose modestly and the Dow fell, as investors assessed corporate earnings. Alphabet, a key tech stock, surpassed revenue estimates, highlighting the week’s critical earnings reports. However, mixed results in sectors like housing and autos, along with rising Treasury yields, temper market gains.
Pre-market action: Here’s the trade setup for today’s session (30-10-2024)
Nifty could take support from the above band while on upmoves it can face resistance in the 24,567-24,694 band in the near term, said Deepak Jasani of HDFC Securities.
Stocks in news: L&T, Tata Power, Dabur, Marico, Torrent Pharma (30-10-2024)
Shares of Torrent Pharmaceuticals are expected to remain in focus on Wednesday as the company’s promoter could sell 2.9% stake worth Rs 3,000 crore via block deal.
Asian stocks climb after mixed tech results (30-10-2024)
Treasury yields edged lower, while a Bloomberg gauge of the dollar’s strength snapped a three-day advance. Gold hit a fresh record early on Wednesday as Bitcoin traded near its all-time high.
Nippon Life AMC execs apply for settlement in Yes AT1 case (30-10-2024)
The probe, initiated by Sebi in 2022, focuses on Nippon Life India Asset Management (earlier Reliance Mutual Fund) over its ₹2,500 crore investment in Yes Bank’s Additional Tier 1 (AT1) bonds. The investigation probes whether the former promoter, Anil Ambani’s Reliance Capital, influenced the fund’s investment decision, potentially impacting the fiduciary responsibility of its executives.