Wall Street saw gains on Monday with anticipation of significant corporate earnings and the upcoming U.S. presidential election. Despite tensions in the Middle East, energy supplies remained undisrupted. Major companies like Alphabet, Meta Platforms, and Apple are expected to release their results. Nvidia surpassed Apple as the world’s most valuable company. Investors focus on AI spending reports.
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Asian shares fluctuate with focus on US election (29-10-2024)
Shares rose in Sydney while Tokyo stocks were little changed and futures pointed to gains in Hong Kong. US futures were steady after most major groups in the S&P 500 gained at the start of the busiest week for corporate earnings.
Pre-market action: Here’s the trade setup for today’s session (29-10-2024)
Nifty could now rise to face resistance at 24,567, while the 24,073-24,135 band could offer support in the near term. Sustenance of this upmove over the next few days will be crucial to lead to the return of buying interest from all classes of investors, said Deepak Jasani of HDFC Securities.
Stocks in news: Maruti, Adani Enterprises, Adani Ports, Airtel, Tata Power, HDFC Bank (29-10-2024)
Shares of Bharti Airtel are expected to be in focus on Tuesday as the company reported strong Q2FY25 earnings though they were below Street’s estimates.
Highly rated corporates gain Bond Street Cred (29-10-2024)
Yields on a 10-year AAA corporate bond are now below 7.20%, while the 10-year government security (G-sec) yields 6.82% on a semi-annual basis, or 6.94% annualised.
Tata Capital plans to raise $500-million debt overseas (29-10-2024)
Investor meetings are scheduled for mid-November across Singapore, Hong Kong, and London. Standard Chartered, HSBC and BNP Paribas are arranging investor calls, said a source.
PNB Housing plans to raise $125 million in ECBs (29-10-2024)
On a sequential basis, for the overall portfolio, the cost of borrowing declined by 8 basis points in the September quarter, supported by a credit rating upgrade that enabled PNB Housing Finance to raise debt in the debt capital markets at a lower cost.
US poll jitters, RBI governor talk push up 10-year yields (29-10-2024)
Yields on the 10-year benchmark security closed at 6.87% on Monday, versus its previous close of 6.84% on Friday, CCIL data showed. Yields closed at 6.82% a week ago. The 10-year US bond yield shot up by nine basis points to 4.27% on Monday.
Sunshine in US, home glow to help Sun Pharma beat industry show (28-10-2024)
The India business, accounting for a third of the company’s total revenues, grew at 11%. This is a volume-led growth aided by new product launches. Sun’s India business grew higher than the Indian Pharma market growth. The company launched 14 new products during the quarter.
Valuations, weak demand slow auto bull run (28-10-2024)
Since April 2020, the Nifty Auto Index has surged 430% as against the 201% up move in the Nifty. Among auto shares, Maruti Suzuki gained 186%, Tata Motors soared 1,250%, Mahindra & Mahindra jumped 892%, Bajaj Auto rose 390% and Hero Motocorp advanced 212%.