Indian indices fell sharply on Thursday, dragged by Middle East tensions. Nifty closed at 25,250, down 547 points. Analyst Jatin Gedia sees a negative outlook for the market, with support at 25,300.
Posts in category Economic Times
Over 50% new investors come from smaller cities: Zerodha Mutual Fund (03-10-2024)
While investors in smaller Indian cities (beyond the top 30) are increasingly investing in mutual funds, they still represent just 19% of total assets under management. This suggests that although participation is rising, the average investment size from these regions remains lower compared to larger cities.
Bank of Baroda Q2 Update: Global advances jump 11.6% YoY, deposits surge by over 9% (03-10-2024)
Domestic advances surged by 12.51% to reach Rs 9.39 lakh crore in the recent quarter, while deposits grew by 7.14% to hit Rs 11.50 lakh crore. Retail advances saw a significant jump of 20%, reaching Rs 2.32 lakh crore. This indicates strong growth in lending and deposit activity.
BSE decides to keep Sensex options weekly contracts, shut Bankex from F&O after Sebi order (03-10-2024)
BSE announced it will discontinue weekly derivative contracts on both Sensex 50 and Bankex from November 2024 in compliance with Sebi’s new regulation to limit weekly expiries to one per exchange. Sensex weekly contracts will continue due to higher trading volumes compared to Bankex.
Aswath Damodaran debunks the Fed Myth. It’s a delusion that has destroyed enough investing brain cells, he says (03-10-2024)
Aswath Damodaran argues that the Federal Reserve has less influence over interest rates than commonly believed. The Fed sets only the Fed Funds rate, and other rates are not directly indexed to it. This challenges the idea that the Fed controls borrowing costs across the economy.
Blackstone seeks to raise at least $10 billion in new Asia PE fund, focusing on India, sources say (03-10-2024)
Blackstone Inc, the world’s largest alternative asset manager, has started raising its third Asia-focused private equity (PE) fund, targeting at least $10 billion, two people with knowledge of the situation said.
Zaggle stock shows resilience amid volatile market backed by acquisitions and partnerships (03-10-2024)
Zaggle Prepaid Ocean Services stock has gained 28% in the past month and 51% in the past three months. The company’s acquisitions and partnerships are expected to boost future growth. Analysts have raised EPS targets. Zaggle offers SaaS-based employee spend management services to corporates and has a diverse client base.
US stocks open lower with jobs data, Middle East conflict in focus (03-10-2024)
Wall Street opened lower on Thursday after a moderate rise in jobless claims sparked worries about the health of the labor market, while cautious investors kept an eye on the Middle East for any escalation in hostilities.
FIIs sell Indian equities worth Rs 15,243 crore on Thursday (03-10-2024)
Foreign institutional investors (FIIs) offloaded Indian equities worth Rs 15,243.27 crore on Thursday, causing the S&P BSE Sensex and Nifty to drop by over 2%, despite robust buying from domestic institutional investors (DIIs), who were net buyers with purchases totaling Rs 12,913.96 crore.
Oil jumps about 2% on Middle East supply fears (03-10-2024)
Oil prices rose on Thursday on investor concern that a widening Middle East conflict could disrupt crude oil flows from the region, though a stronger global supply outlook kept a lid on gains.