Today, 38 companies announce their Q2 FY24 results, including Infosys, Wipro, Axis Bank, and Nestle India. Infosys is poised for healthy growth driven by mega-deals, whereas Wipro may see a revenue decline. Axis Bank is expected to boost net profit by 8% with rising NII, and Nestle India projects a 5-7% revenue uptick.
Posts in category Economic Times
Big movers on D-Street: What should investors do with Bajaj Auto, L&T Tech and BSE? (17-10-2024)
Benchmark Sensex fell by 318 points and Nifty slipped below 25,000 on Wednesday due to foreign fund outflows and weak global trends. Stocks in focus were Bajaj Auto, LTTS, and BSE. Bajaj Auto saw a slight rise, LTTS faced bearish pressure, while BSE shares declined significantly. Analysts suggest various actions for investors.
Goldman Sachs expects series of consecutive 25 basis point Fed cuts ahead (17-10-2024)
Goldman Sachs predicts consecutive 25-basis-point rate cuts by the U.S. Federal Reserve from November 2024 through June 2025, targeting a terminal rate of 3.25%-3.5%. This follows the Fed’s recent half-point rate cut. The European Central Bank is also expected to implement sequential 25-bps cuts until reaching a 2% rate by June 2025.
Dollar hovers near 11-week high, eyes on China property briefing (17-10-2024)
The dollar remained near an 11-week high due to U.S. election uncertainty and a resilient economy. Meanwhile, China’s press conference on its property sector is awaited. The Australian dollar fell to a one-month low. The euro and sterling were also weak as markets eye decisions from major central banks.
Gold holds below record high ahead of US data (17-10-2024)
Gold prices remain steady below record highs as investors anticipate key U.S. economic data for insights on Federal Reserve’s rate cuts. Spot gold stood at $2,674.96 per ounce. U.S. retail sales, industrial production, and jobless claims data are awaited. Lower interest rates and geopolitical tensions typically enhance bullion’s attractiveness.
Oil inches up after surprise drop in US crude stockpiles (17-10-2024)
Oil prices rose in early Asian trade after an unexpected drop in U.S. crude stockpiles. Brent and U.S. West Texas Intermediate crude futures climbed, reversing prior losses. Factors such as OPEC’s demand forecast cuts, easing Middle East conflict fears, and awaited fiscal stimulus from China influenced the market.
Dow ends at another record high as Wall Street buoyed by banks, small-caps (17-10-2024)
Dow Jones closed at a record high on Wednesday. Other Wall Street indexes also ended higher, despite declines in tech shares, driven by gains in small-caps and financial stocks. Morgan Stanley hit a record close with strong earnings. Investors showed interest in financial stocks due to a favorable rate environment.
GIFT Nifty up 25 points; here’s the trading setup for today’s session (17-10-2024)
“We expect this consolidation to continue amid mixed global cues and a lack of domestic triggers. Index-heavy weights like Infosys, Axis Bank, LTI Mindtree, Wipro, and Nestle are likely to be in focus as they announce their Q2 number on Thursday,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal