The Indian rupee slightly rose as oil prices declined and regional peers gained, ahead of the Reserve Bank of India’s monetary policy decision. Despite hovering near its record low, RBI interventions helped stabilize it. Traders focused on the expected unchanged policy rates but speculated on a possible shift in stance to neutral.
Posts in category Economic Times
Bullish Momentum: 3 Nifty stocks with White Marubozu Pattern on Oct 8 (09-10-2024)
Traders interpret it as a signal that buyers were in control from the opening to the closing, often using such patterns for informed decisions about future price movements in financial markets.
Stock to watch: Tata Power stock in focus as it seeks bids for 3 GW wind turbine supply to boost renewable energy facilities (09-10-2024)
Tata Motors will capture attention as Tata Power seeks over 3 GW of wind turbines for its hybrid energy facilities, with potential orders exceeding Rs 21,000 crore. Bidders include Siemens Gamesa and Suzlon Energy. Plans aim for 20 GW capacity by 2030, as Tata Power shifts towards 100% clean energy by FY45.
Sensex gains 200 points ahead of RBI MPC outcome, Nifty above 25K (09-10-2024)
Indian blue-chip indices Nifty50 and BSE Sensex opened higher for the second consecutive day, driven by gains in auto and IT stocks. This rise comes ahead of the Reserve Bank of India’s policy meeting, where the central bank is anticipated to maintain current interest rates while adopting a hawkish stance.
Will the stock market crash? Let’s find out using 6-day stress test (09-10-2024)
After a significant 1,420-point drop in Nifty over six days, historical trends show potential for recovery, bolstered by domestic institutional and retail investors. A six-day consecutive fall has often led to positive returns, suggesting short-term declines may offer strategic buying opportunities.
Gold Price Today: Gold dips Rs 1,000/10 gm this week so far while silver tumbles Rs 4,300/kg (09-10-2024)
Gold and silver futures contracts opened with slight changes on MCX today as traders booked profits. The market is reacting to potential de-escalation in the Middle East and anticipated U.S. inflation data. Gold December futures are slightly down, while silver December futures are up. Market volatility is expected to continue due to these factors.
Hot Stocks: Brokerage view on HDFC Bank, SBI and IGL (09-10-2024)
CLSA maintains a hold rating on HDFC Bank with a target price of Rs 1,725, while Nomura and Citi have buy ratings for SBI and IGL, respectively. HDFC Bank faces a dilemma akin to Shakespeare’s Hamlet, choosing to sell down loans to address its high loan-deposit ratio, though this approach may not effectively repair its balance sheet and comes at the cost of profits.
ETMarkets Smart Talk: China’s stimulus could attract FIIs, but India’s long-term fundamentals stay strong, says Sachin Bajaj (09-10-2024)
Over the past year, Nifty50 has delivered a robust 30% return, and mid- and small-cap indices have materially outperformed the large-cap during the same period. This strong performance was on the back of a domestic growth story, good visibility of earnings growth, a stable macro-environment, and resilient flows.
Hyundai Motor India’s Rs 27,856 crore IPO opens on 15th Oct; price band fixed at Rs 1,865-1,960 (09-10-2024)
Hyundai Motor India will launch its IPO on October 15, aiming to raise up to Rs 27,856 crore. The offer includes up to 14.2 crore shares. QIBs have 50% reserved, retail investors 35%, and non-institutional investors 15%. The tentative listing on NSE and BSE is on October 22.
Oil prices steady after sliding on potential Israel-Hezbollah ceasefire (09-10-2024)
Oil prices stabilize in Asian trading, balancing Middle East conflict uncertainties with bearish fundamentals. Brent crude rises slightly to $77.29 a barrel, and U.S. West Texas Intermediate to $73.60. Price fluctuations follow market reactions to geopolitical tensions, U.S. crude stock increases, and the potential impact of Hurricane Milton on Florida’s fuel supply.