Support for Nifty is now seen at 24,100 and 24,000. On the higher side, immediate resistance for Nifty is at 24,450-500 levels and the next crucial resistance is at 24,700-750 levels, said Tejas Shah, Technical Research Analyst at JM Financial & BlinkX.
Posts in category Economic Times
Stocks in news: Airtel, Sun Pharma, Adani Power, IDFC First Bank, YES Bank, ICICI Bank, ITD Cementation (28-10-2024)
State-run REC reported a 6.5% rise in its September quarter consolidated net profit at Rs 4,038 crore versus Rs 3,790 crore reported by it in the year ago period.
Oil slides on Mideast respite, yen down as Japan govt loses majority (28-10-2024)
In Japan, the LDP which has ruled for most of the post-war years and junior coalition partner Komeito won 215 lower-house seats at Sunday’s election, public broadcaster NHK reported. This falls well short of the 233 needed for a majority and the yen was squeezed since investors figured any government that emerges is likely to make a dovish shift in economic policies.
Samvat 2081: Corporate earnings to be key driver (28-10-2024)
As we enter Samvat 2081 on November 1, market sentiment is challenged by global uncertainties, including the upcoming US elections, Middle Eastern tensions, and signifi cant foreign outfl ows from Indian equities due to a rebound in Chinese markets.
Global funds eye India amid financial shocks (28-10-2024)
A steady influx of foreign capital has positioned the nation’s bonds among top performers in developing markets this year, while the country’s stock market hit a record high last month, buoyed by robust domestic liquidity. India’s appeal is driven by a blend of structural factors: stable political ties with both the US and Russia, capital controls that curb hot money flows, and a currency that’s less impacted by big dollar moves than emerging market peers.
‘Sell on rise’ mood may weaken Nifty further: Analysts (28-10-2024)
Conversely, if Nifty crosses and sustains above 24,350, it could gain buying momentum, pushing the index towards the 24,500- 24,750 levels. The weekly RSI is moving downward and is positioned below its reference line, indicating a negative bias.
JSW Energy emerges top bidder for KSK Mahanadi Power (28-10-2024)
JSW Energy emerged as the top bidder for KSK Mahanadi Power, offering Rs 15,985 crore and surpassing Adani Power’s Rs 15,885 crore bid. The auction saw six companies participate with JSW Energy securing the deal. The resolution requires further approval from lenders.
FMCG Q2 review: Costs, Qcomm surge, climate hit in focus (27-10-2024)
While the topline performance of companies such as Dabur, HUL and ITC was impacted by the moderation of consumer demand – especially in urban India, it was not so in case of others like Varun Beverages, Godrej Consumer Products (India business), Colgate Palmolive (India), Pidilite and Zomato.
Biggest potential for CBDC will be cross-border money transfer (27-10-2024)
He has also outlined the possible risks – CDBC can create a situation of faster transmission of shocks across countries, can be used for currency substitution and can create capital flow volatility because of faster flow of money across countries; and has stressed on the need for finding technological and systematic solutions for these risks. Das has dismissed the apprehension on whether CBDC and the fast payment system like UPI can work together.