Oct 09, 2023, 3:28 pm IST
Adani Ports Issues This Important Statement On Hamas Port Amidst Stock Fall
Adani Ports has issued an important statement on Haifa Ports as the Israel-Palestine War triggered a sell-off in Indian equities on Monday. It is worth mentioning that the shares of Adani group stocks fell after Iran-backed Hamas launched 5,000 rockets on Israel which killed over 1,000 people. One must note that the Adani Group had earlier this year acquired the Israeli port of Haifa for .2 billion. The Port of Haifa is the second largest port in Israel in terms of shipping containers.
Oct 09, 2023, 2:42 pm IST
TCS, HCL Technologies, Infosys: These Tech Majors Will Announce Their Quarterly Earnings This Week
This week is going to be quite busy for Dalal Street as a slew of companies including tech gains - TCS, HCL Technologies, and Infosys are readying to give their Q2 earnings update to the investors. Globally, the rate hike spree adopted by the Federal Reserve and central banks of other countries has taken a toll on leading IT companies such as Microsoft, Google, and others. However, in India, the situation is considerably better as the Reserve Bank of India has kept the repo rate unchanged at 6.50% for four consecutive times.
Oct 09, 2023, 2:13 pm IST
Top 5 Gainers and Losers Today
Source:NSE
Oct 09, 2023, 2:06 pm IST
Titan Shares Dip Over 1% Amidst Negative Trading On Dalal Street
The share price of Tata Group stock slipped 1.26% at Rs 3269.40 per share at 1:59 pm IST on Monday as bearish sentiment prevailed in the Indian equity market today due to Israel Palestine war. Last week, the company announced its quarterly update for Q2 of FY 2023-24. The company's revenue grew 20% year-on-year (YoY) in Q2FY24. A total of 81 stores were added during this period, taking the group’s retail presence to 2,859 stores.
Oct 09, 2023, 1:50 pm IST
BSE Bank Index Falls 1%; Canara Bank, SBI, HDFC Bank, Federal Bank, Bank of Baroda Among Top Losers
BSE Bank Index slipped almost 1% on Monday at 49,380.15 points. The top losers in the index were Canara Bank (down 2.33%), SBI (down 1.78%), Bank of Baroda (down 1.42%), Federal Bank (down 1.37%), and HDFC Bank (down 1.23%).
Oct 09, 2023, 1:23 pm IST
MCX Rises 5% To Hit Record High On Sebi's Nod To Launch New Trading Platform
Shares of the Multi Commodity Exchange of India (MCX) rose 5% to reach a record high in today's intra-day trading session after the company received Sebi's nod to launch a new trading platform. MCX shares traded 3.97% higher at Rs 2120.00 per share at 1:20 pm IST on Monday.
Oct 09, 2023, 12:58 pm IST
Israel - Hamas Conflict Impact on Markets: Amnish Aggarwal, Head of Research, Prabhudas Lilladher
"Israel - Hamas war will add to global geopolitical uncertainty in Middle East and higher price of crude. Prolonged escalation and increase in geographical spread can have negative impact on equity markets in the near term."
Oct 09, 2023, 12:37 pm IST
Inox Green Inks Term Sheet To Divest 100% Stake In Nani Virani SPV, Shares Fall
Shares of Inox Green Energy Services declined 1.68% at Rs 64.90 per share on Monday after the company inked a term sheet for the divestment of 100% stake in Nani Virani Wind Energy Private Limited SPV. The divestment is expected to aid in paring debt on IGESL’s parent company Inox Wind’s consolidated balance sheet.
Oct 09, 2023, 12:31 pm IST
Adani Enterprises, Adani Ports, Adani Power: Adani Shares Trading In Red
The share price of Adani group stocks including Adani Enterprises, Adani Ports, Adani Green Energy, and Adani Power traded over 2% lower on Monday. Shares of Adani group stocks fell after Iran-backed Hamas launched 5,000 rockets on Israel which killed over 1,000 people. One must note that the Adani Group had earlier this year acquired the Israeli port of Haifa for .2 billion.
Oct 09, 2023, 12:22 pm IST
TCS, Infosys, HCL Technologies:IT Stocks In Focus Ahead Of Q2 Earnings
There will be a lot of activity on Dalal Street this week as various companies will release their earnings report. IT Major TCS will announce its results on October 11, while Infosys and HCL Technologies will announce their quarterly update on October 12.
Oct 09, 2023, 11:38 am IST
Rupee Gains 4 Paise Against US Dollar As Asian Currencies Decline
Rupee opened stronger against US Dollar on Monday. The home currency gained 4 paise against US Dollar to trade at Rs 83.21 at around 9:10 am today. Earlier on Friday, rupee ended the day at Rs 83.25. Meanwhile, several Asian currencies witnessed a dip amid the ongoing Hamas and Israel’s conflict. Crude oil gained more than 5% to trade at a barrel as fierce clashes continue in many areas across southern Israel a day after Hamas launched surprise attack.
Oct 09, 2023, 11:37 am IST
2:1 Bonus Issue: Multibagger Engineering Stock Hits 52-Week High, Record Date Next Week
Small cap stock from the Engineering sector, Gensol Engineering that announced bonus issue in 2:1 ratio on September 5 hit 52-week high in trade today. Gensol Engineering shares hit upper circuit and 52-week high on October 6 as well. Gensol Engineering stock also witnessed spurt in volume by 1.08 times today. Gensol Engineering shares rallied 106% year-to-date (YTD).
Oct 09, 2023, 10:37 am IST
Top 5 Gainers and Losers Today
Source:NSE
Oct 09, 2023, 10:33 am IST
TCS Shares Trade 52-Week High On Buyback Plans
Tata Consultancy Services shares hit their 52-week high of Rs 3,659 on October 9 after the large cap Tata Group’s company declared plans to mull a share buyback, along with its July-September results on October 11. Morgan Stanley also feels that the announcement of the buyback plans does not necessarily provide enough assurance to stakeholders as it was already anticipated by the market for the last two quarters.
Oct 09, 2023, 10:33 am IST
MCX Shares Hit 52-Week High
Multi Commodity Exchange of India (MCX) shares gained 5 % to touch a new 52-week high of Rs 2,139 on October 9 after it bagged the nod from SEBI tech panel to launch a new web-based commodity derivatives platform (CPD) after many delays with the market regulator earlier. "Subsequently, SEBI Technical Advisory Committee has recommended that MCX and MCXCCL may Go-Live with the CDP and to intimate SEBI regarding the proposed date for Go Live," as per the regulatory filing.
Oct 09, 2023, 8:59 am IST
USD-INR Outlook
The anticipated dips to 83.14 does not appear to trigger an outright reversal, prompting us to move such point lower to 83.07, with downside marker at 82.98. Should these prevail, expect 83.4 - 83.49 initially and 83.73 - 84.5 thereafter, said Anand James, Chief Market Strategist at Geojit Financial Services.
Oct 09, 2023, 8:58 am IST
Nifty Derivative Outlook
Nifty weekly contract has highest open interest at 20000 for Calls and 19500 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19500 for Puts. Highest new OI addition was seen at 20500 for Calls and 19600 for Puts in weekly and at 20100 for Calls and 19100 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 0.33%, decreased future index shorts by 2.98% and increased in index options by 27.71% in Call longs, 18.49% in Call short, 29.68% in Put longs and 42.48% in Put shorts, said Anand James, Chief Market Strategist at Geojit Financial Services.
Oct 09, 2023, 8:57 am IST
Nifty Outlook Today
Anand James, Chief Market Strategist at Geojit Financial Services said, With the last three days’ energetic leaps, Nifty appears primed for a run upto 19900. But, we have stalled exactly at the upper boundary of a declining & broadening wedge, that calls for some caution. We hope that the cushion provided by 20 day and 10 day SMAs in the 19600-570 will be enough to keep nerves steady, in the event of pull back. Upside hopes will significantly dwindle should we close below the same. While a push above 19670 should clear path for 19900, it may be premature to look for 20600 right away, as we see vulnerability setting in again on completion of 61.8% retracement of the Sep-Oct downtrend.
Oct 09, 2023, 8:57 am IST
Morning Market Views By V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The Israel-Hamas conflict has introduced a huge uncertainty for the markets. Nobody knows how this war is going to evolve. From the market perspective it is important to understand that even though the death and destruction are tragic, presently it is unlikely to cause major disruption in oil supplies thereby impacting major oil importers like India. But the situation will change if Iran, a major Hamas supporter, is drawn into the war. That can disrupt oil supplies causing a spike in crude, which can trigger a risk-off in the market.
This is a time to be cautious. Investors may refrain from taking big risks. Wait for the developments to unfold. Long-term investors can slowly accumulate high quality stocks on declines.
Oct 09, 2023, 8:56 am IST
Gold - Up on safe haven demand
Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas said, Today, the Hamas-Israel war is boosting safe haven demand for gold. The metal is up nearly 0.90% at 49. The metal may gain further as the war intensifies with rising death toll.
Spot gold snapped it's nine-day long losing streak to settle with a gain of 0.69% at 33 Friday on the US hourly earnings and unemployment rate coming in slightly worse than their respective forecasts. The US employers added 336k jobs Vs the forecast of 170k jobs in September as two-month payroll net revision was noted at +119k. Unemployment rate came in at 3.8%, which was slightly higher than the estimate of 3.70%. The US hourly earnings were up 0.20% on m-o-m basis, whereas earnings rose 4.20% y-o-y. Both the readings fell short of their respective forecasts by 0.10% each. Average weekly hours all employees matched the forecast of 34.40. Labour force participation rate remained unchanged at 62.80%, which may be a cause of concern as wage-inflation may remain elevated.
The US Dollar Index fell as the markets focused on the data of hourly earnings and unemployment rate.
Yields on 10-year TIPS have risen to the highest level since 2008, which is clearly bearish for the yellow metal.
The 2-10 year yields inversion reached the lowest level this year after the release of the US nonfarm payroll report.
The US is expected to issue huge debt, which in turn will make investors call for higher yields in return for buying the US debt as term premium will rise, thus the bonds will continue to face pressure.
Total known global gold ETF holdings fell for the sixth consecutive day through October 5 as investment demand remains lackluster.
This week, investors will focus on the US PPI (September), FOMC minutes, CPI (September), and University of Michigan consumer sentiment and inflation expectations. Out of Europe, Germany's CPI, industrial production; Euro-zone's Sentix investor confidence; and the UK's monthly GDP will garner attention. China's trade balance and CPI data will entertain the traders further.
The US bond market is closed Monday on the Columbus Day, thus a vital clue to the markets will be missing.
Support is at 30/10, while resistance is at 58/85. The metal is expected to trade with a positive bias in very short term.
Oct 09, 2023, 8:49 am IST
Adani Ports and Special Economic Zone Limited In Focus
The major facility of Adani Ports and Special Economic Zone, Mundra Port, has completed its 25 years of operations.
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