Posts in category Economic Times
Big movers on D-Street: What should investors do with Godrej Properties, Angel One and ITC? (04-10-2024)
Benchmark BSE Sensex plunges 1,769 points amid West Asia conflict, hitting a three-week low. Key stocks in focus include Godrej Properties, Angel One, and ITC. Technical analysts suggest Godrej in a no-trade zone, bullish prospects for Angel One, and cautious optimism for ITC.
Dollar poised for largest weekly gain since April, jobs report in focus (04-10-2024)
The dollar held near its six-week high, driven by safe-haven demand amid Middle East tensions and anticipation of U.S. non-farm payrolls data. Expectations of 140,000 job additions and a steady unemployment rate at 4.2% kept market participants cautious. Meanwhile, the Australian and New Zealand dollars faced weekly declines, and Japanese yen slid on dovish comments from Japanese politicians.
Gold holds steady as traders wait for US payroll data (04-10-2024)
Gold prices remain flat but slightly lower for the week as market attention turns to a crucial U.S. payrolls report. Expectations for a Federal Reserve interest rate cut have grown, with recent data suggesting a possible reduction. Meanwhile, geopolitical tensions in Lebanon continue to escalate.
Oil edges up on Middle East conflict but supply outlook limits gains (04-10-2024)
Oil prices rose marginally on Friday amid the Middle East conflict, with Brent crude reaching $77.71 and WTI at $73.79, both showing weekly gains of about 8%. Speculation around supply disruptions and investor actions influenced the rise, despite amply-supplied global markets and Libya’s resolved oilfield disputes.
US stocks end lower ahead of US jobs data, Middle East still in focus (04-10-2024)
U.S. stocks ended lower on Thursday as investors awaited the monthly payrolls report and monitored the conflict in the Middle East. New unemployment claims rose marginally. The S&P 500 remains up 19.5% for the year. Rising oil prices impacted energy shares positively. A port strike may affect consumer prices.
GIFT Nifty down 105 points; here’s the trading setup for today’s session (04-10-2024)
Immediate support is seen at 25,000, followed by 24,750, while 25,500 is expected to act as the immediate resistance. Traders should closely monitor these key levels, as a break below support could trigger further downside, while resistance at 25,500 may cap any short-term recovery attempts, said Hardik Matalia of Choice Broking.
Stocks in news: DMart, Reliance Power, Bajaj Finance, Sundaram-Clayton, Bank of Baroda (04-10-2024)
M&M Financial is likely to be in focus as the company said it is expecting a 1% year-on-year decline in the overall disbursement in the second quarter.
Asian shares mixed as oil soars on ME tension ahead of US jobs data (04-10-2024)
Investors are concerned that, should Israel strike critical Iranian assets, the Islamic Republic will lash out and escalate the conflict, dragging in more countries and potentially disrupting global energy shipments. Israel said it bombed more than a dozen Hezbollah targets in Beirut on Thursday.