Oil prices reduced after hitting a yearly high due to regional war tensions in the Middle East. Brent crude futures fell to $77.62 per barrel, and U.S. West Texas Intermediate crude slipped to $74.03 per barrel. Profit-taking and fears of Israeli retaliation against Iran influenced the market trend. OPEC has spare capacity to mitigate supply disruptions.
Posts in category Economic Times
Japan leads Asian stock rally, dollar gains after blowout US payrolls (07-10-2024)
Short-term U.S. Treasury yields rose after the closely watched non-farm payrolls report on Friday showed the economy unexpectedly added the most jobs in six months in September.
GIFT Nifty up 80 points; here’s the trading setup for today’s session (07-10-2024)
Looking ahead, several important data releases and events could influence market direction. Investors will be closely monitoring developments in the geopolitical situation and its impact on crude prices.
Stocks in news: Jio Financial, Titan, Adani Wilmar, IDFC Bank, Zomato (07-10-2024)
The Department of Telecommunications (DoT) has issued a notice to Vodafone Idea concerning non-payment of bank guarantees needed to cover for past spectrum auction dues.
With IPO market on fire, I-bankers set to celebrate a cracker of a year (07-10-2024)
With large IPOs from Hyundai, Swiggy, Afcons, Waaree and NTPC Green expected in the second half, the primary market is projected to raise over ₹1.5 lakh crore through IPOs alone this financial year, positioning investment bankers for a boom year.
Goswami Infra seeks waivers related to Afcons IPO (07-10-2024)
In a communication to bondholders, Goswami Infratech has assured bondholders of ₹14,300-crore NCDs (non-convertible debentures) that it is not seeking a waiver on pricing conditions, but is requesting an extension of the time to comply with restrictions imposed by capital market regulations.
Healthy Kitty: India’s forex reserves of over $700 billion 4th largest in the world (07-10-2024)
India’s reserves-comprising major currencies, gold special drawing rights and reserves with the International Monetary Fund (IMF)-have been rising steadily since 2013, when the country was part of the “fragile five” category and foreign investors exited because of weak macroeconomic fundamentals.
Nifty has strong support at 24,800: Technical Analysts (07-10-2024)
On the upside, immediate resistance is expected at 25,250. Stocks such as Coforge, Balrampur Chini, JK Lakshmi Cement, Divi’s Lab, Torrent Pharma, Titan, Ipca Labs, and Lal PathLabs could attract support-based buying, said analysts.
Adani Group lays bricks to buy Heidelberg’s India cement unit (07-10-2024)
The Adani Group, India’s second-biggest cement maker, had entered the sector by acquiring Holcim’s India operations in 2022. As with Holcim, Adani intends to move fast to close the deal, said the people cited. Ambuja Cements had cash and cash equivalents of Rs 18,299 crore on June 30, 2024. However, the Indian conglomerate may opt out of a deal if it becomes a full sale process involving other contenders, one of the persons said.
FPIs mount bearish bets here as China a better play now (06-10-2024)
Foreigners’ long-short ratio – a measure of the number of their bullish positions versus bearish – in index futures dropped to 58% on Friday from around 81% on September 27. A falling reading of this measure means investors are cutting their bullish bets and increasing their bearish ones.