Market closes in the red with IT and Pharma sectors under pressure, while Financials show strength. Nifty50 experiences a sharp correction, testing lows amid geopolitical concerns and foreign fund outflows. Analysts suggest a cautiously bullish outlook if Nifty remains above 24,700, with potential targets around 25,600-25,700.
Sai Silks (Kalamandir) – only listed player in the organized saree market (11-10-2024)
03-Oct-2024 exchange filing:
In nutshell:
- YoY revenue growth in Q2 seems mild (6.5%). Let’s wait for the results to see how operating profit grew.
- IT search and seizure outcome is reported under a regular subject: Business Update. Seems business has accepted the IT demands. Hence, revised returns for the 3 Yrs [AY20-21,AY21-22 and AY22-23].
Disc: No position.
Pressure amps up on Infosys, Wipro likely to beat high expectations (11-10-2024)
The 2025 financial year has been seen as one of recovery for Indian IT companies after a slowdown in spending from US-based clients brought revenue growth down to the low single-digits in the previous
Dollar bulls suffer setback as traders add to Fed cut bets (11-10-2024)
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Oil eases though investors wary over potential Mideast supply disruption (11-10-2024)
Oil prices dipped slightly after a Thursday rally, with both Brent and WTI still set for weekly gains. Investors are weighing hurricane damage on U.S. fuel demand against potential Israeli retaliation against Iranian oil sites. The situation remains tense, impacting market stability.
Positive Breakout: These 7 stocks close cross above their 200 DMA (11-10-2024)
The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock
Nifty Pharma rangebound, eyes breakout; check support, target, and more (11-10-2024)
The Nifty Pharma Index is currently trading within a well-defined range between 23,800 and 22,700. A breakout above or below these levels will likely trigger a directional move