Government bond yields may fall by up to 5 basis points in the early hours of trade on Wednesday as the prospect of sustained overseas flows is likely to boost market sentiment. However, an hour into trade, bond traders will take fresh cues from the Reserve Bank of India’s policy statement which is scheduled at 10 am. Yield on the 10-year government bond closed at 6.82% on Tuesday.
Posts in category Economic Times
Stock to watch: Infosys shares in focus on expansion of partnership with Old National Bank (09-10-2024)
Infosys has expanded its collaboration with Old National Bank to accelerate the bank’s operational and technological transformation. Leveraging automation and GenAI, the partnership aims to enhance process digitization, stability, and client experience. The alliance emphasizes efficiency and value generation, supporting Old National’s growth and resilience.
F&O Ban List: SAIL, GNFC among 10 stocks under trade ban on Wednesday (09-10-2024)
Ten stocks, including Bandhan Bank, Birlasoft, and PNB, are banned from F&O trading due to high open interest exceeding 95% of the market-wide position limits. The ban is reversed if open interest drops below 80%. Indian indices rebounded driven by HDFC Bank and Reliance Industries ahead of RBI policy decisions.
Big movers on D-Street: What should investors do with Trent, Sobha and SpiceJet? (09-10-2024)
Sensex and Nifty recovered after a six-day slump with major gains in Trent, Sobha, and SpiceJet. Trent’s stock shows potential for further upside, Sobha is seen as a good long-term buy, while SpiceJet is recommended to be avoided due to low trading volumes.
Dollar steady ahead of Fed minutes, NZ dollar falls after rate cut (09-10-2024)
The U.S. dollar remained stable, easing pressure on the yen and other major currencies, as investors considered the Fed’s interest rate path. The New Zealand dollar dropped after the RBNZ cut rates by 50 basis points. Upcoming U.S. inflation data will be crucial for the dollar’s trajectory.
Gold prices steady with Fed minutes on tap (09-10-2024)
Gold prices remain steady ahead of the release of the Federal Reserve’s September meeting minutes. Traders anticipate signals on U.S. interest rate policies and are also eyeing upcoming CPI and PPI reports. Boston Fed President suggests likely interest rate cuts amid weaker inflation trends, while geopolitical tensions in the Middle East persist.
Wall Street ends higher on tech buying as investors wait on inflation data (09-10-2024)
Wall Street’s benchmarks saw a rebound driven by tech stocks as investors eyed upcoming inflation data and third-quarter earnings. Lower Treasury yields favored high-growth tech companies. Major indexes like the S&P 500, Nasdaq, and Dow Jones showed gains. Key indicators include the recent jobs report and anticipated CPI data for interest rate predictions.
GIFT Nifty up 45 points; here’s the trading setup for today’s session (09-10-2024)
A decisive move above 25,000 levels could possibly open the next upside resistance of 25,400-25,500 in the near term. Immediate support is at 24,700, said Nagaraj Shetti of HDFC Securities.
Asian stocks advance after tech lifts Wall Street (09-10-2024)
Shares in Australia and Japan rose as did Hong Kong equity futures following sharp declines on Tuesday. US equity futures dropped after the S&P 500 rose 1% and the tech-heavy Nasdaq 100 advanced 1.6% Tuesday. Chipmakers were among the market leaders with Nvidia Corp. extending a five-day rally to 14%.