The underlying trend of Nifty remains negative. Having declined below the crucial support of 25,100-25,000 levels recently, Nifty could slide down towards another lower support of around 24,500-24,400 in the near term. Immediate resistance to be watched at 25,000 levels, said Nagaraj Shetti of HDFC Securities.
Posts in category Economic Times
Stocks in news: Nykaa, BEL, Tata Motors, HEG, Puravankara (08-10-2024)
HEG acquired 8.23% stake in GrafTech International for about Rs 248.62 crore. GrafTech International is a leading manufacturer of high quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals.
Middle East conflict keeps markets nervous ahead of China’s reopening (08-10-2024)
The benchmark 10-year U.S. Treasury yield held above 4% in early Asia trade, as a robust U.S. labour market prompted traders to heavily scale back their expectations for Federal Reserve rate cuts.
Dollar bonds a hit, companies suit up for an encore on Debt Street (08-10-2024)
Vedanta Resources (VRL) is considering tapping its recently issued dollar bond of $900 million to raise another $400 million to $500 million, sources say. Piramal Finance last week raised an additional $150 million from its $300-million bond. Muthoot Finance also tapped into its earlier $650-million bond, although that issuance predated the start to US rate easing cycle.
Drop by drop, indices in deep water (08-10-2024)
The NSE Nifty fell 0.87% or 218.85 points to close at 24,795.75. The BSE Sensex declined 0.78% or 638.45 points to close at 81,050. Both indices have slid nearly 5.3% in the past six days. The last time the Sensex and Nifty fell for six days in a row was in October 2023.
Gold prices likely to be volatile, avoid lumpsum purchases (08-10-2024)
Over the last one month, gold price in dollar terms has moved up by 6.3%, while in rupee terms it is up 7.1%. The Nifty has shed 0.7%. In this calendar year, gold gained 28.8% in dollar terms, while in rupee terms it gained 21.2%, compared to the Nifty’s gains of 15.3%.
Paint Wars: Dulux shade card may be part of a merged palette (08-10-2024)
Akzo Nobel India has informed that its Dutch parent Akzo Nobel NV is conducting a strategic review of its portfolio to redeploy capital towards growing its core coatings businesses. The initial focus will be on its decorative paints business in South Asia and various strategic options will be explored ranging from partnerships or joint ventures through to mergers or divestments.
HDFC Bank’s online services hit by glitches (08-10-2024)
“The bank had to take an unscheduled downtime earlier today (Monday) as some operations like transactions through RTGS and NEFT using net banking were affected,” a spokesperson said at the lender. “The issue stands resolved.”
India has an edge to join FTSE’s EM Bond Index (08-10-2024)
FTSE Russell will on October 8 announce any inclusions into benchmarks including its World Government Bond Index, with a market value of $29 trillion. Seoul hopes it finally made the cut after overhauling currency and debt-market operations.
China’s stock rally fails to convince global funds (08-10-2024)
Invesco Ltd., JPMorgan Asset Management, HSBC Global Private Banking and Wealth, and Nomura Holdings Inc. are among those viewing the recent rebound with skepticism and waiting for Beijing to back up its stimulus pledges with real money. Some are also concerned many stocks are already reaching overvalued levels.