Page 1780 - Markets News
Market Wrap Podcast, Oct 28: Here's all that happened in the markets today
Souring the sentiment was a fresh downgrade of Indian equities by another global brokerage. Morgan Stanley has become the latest foreign brokerage - after Nomura and UBS - to downgrade Indian equities
 "Market Wrap Podcast, Oct 28: Here's all that happened in the markets today")
Morgan Stanley downgrades Indian equities over expensive valuations
Morgan Stanley's downgrade follows similar moves by Nomura and UBS
 "Morgan Stanley downgrades Indian equities over expensive valuations")
Sensex tanks 1,159pts on broad-based sell-off; Nifty ends below 17,900
Financials led by PSU banks, realty, metal and FMCG shares where the major losers in trade. All NSE sectoral indices ended with losses of more than a per cent
 "Sensex tanks 1,159pts on broad-based sell-off; Nifty ends below 17,900")
ITC dips 5% post Q2 results; stock corrects 15% from 52-week high
A stable taxation policy remains key to sustaining steady growth for cigarette recovery ahead, analysts said
 "ITC dips 5% post Q2 results; stock corrects 15% from 52-week high")
The Executive Centre to invest Rs 200 cr to expand India office space biz
Nidhi Marwah, Group Managing Director- South Asia, TEC, said the company performed well during the last fiscal year despite the adverse impact of the COVID-19 pandemic on demand for office space.
 "The Executive Centre to invest Rs 200 cr to expand India office space biz")
Cement shares trade firm; UltraTech, ACC, Ambuja Cements gain up to 2%
The significant pick up in the infra activity backed by the NIP is likely to see healthy traction in terms of new project awards and execution medium term, which is expected to boost cement demand.
 "Cement shares trade firm; UltraTech, ACC, Ambuja Cements gain up to 2%")
Lotus Herbals acquires 32 pc stake in dermaceuticals maker Fixderma India
Through this investment, Lotus Herbals forays into the dermaceutical segment offering a premium range of skincare and haircare products, said a joint statement.
 "Lotus Herbals acquires 32 pc stake in dermaceuticals maker Fixderma India")
Tesla EV sales boom in Singapore, pushing rivals' models off the streets
This week, Tesla surpassed $1 trillion in market value, overshadowing the combined value of five of its biggest rivals, Toyota Motor Corp, Volkswagen AG, Daimler AG, Ford Motor Co and General Motors.
 "Tesla EV sales boom in Singapore, pushing rivals' models off the streets")
Charts flash bullish signal for ICICI Bank; more pain for HUL. Here's why
ICICI Bank is trading firmly in overbought condition, while Hindustan Unilever is still not showing signs of any reversal depsite trading in oversold territory
 "Charts flash bullish signal for ICICI Bank; more pain for HUL. Here's why")
Global Q3 gold demand down 7% at 831 tonnes ETF outflows: WGC
The total demand stood at 894.4 tonnes during the third quarter of 2020, WGC's Q3 Gold Demand Trends 2021 report said on Thursday.
 "Global Q3 gold demand down 7% at 831 tonnes ETF outflows: WGC")
Torrent Power surges 7%, nears record high on robust performance in Q2
The company enjoys a strong balance sheet position with some of the best financial ratios amongst private players in the power sector with debt: equity ratio of 0.69 as at Q2FY22
 "Torrent Power surges 7%, nears record high on robust performance in Q2")
Larsen & Toubro gains 4% post Q2 results, strong order book position
The growth is mainly driven by higher profits in the IT&TS portfolio and improved margins from the projects & manufacturing portfolio.
 "Larsen & Toubro gains 4% post Q2 results, strong order book position")
IRCTC rallies 15% as scrip turns ex-stock split in 1:5
IRCTC has fixed Friday, October 29, as the record date to ascertain the name of shareholders entitled to the split of equity shares of Rs 10 each into five equity shares at a face value of Rs 2 each
 "IRCTC rallies 15% as scrip turns ex-stock split in 1:5")
India's gold demand could jump in Q4 on festivals, pent-up purchases: WGC
Demand for the precious metal usually spikes towards the end of the year in India, as buying gold for weddings and major festivals such as Diwali and Dussehra is considered auspicious.
 "India's gold demand could jump in Q4 on festivals, pent-up purchases: WGC")
IndusInd Bank surges 6% on steady operational performance in Q2
In Q2FY22, IndusInd Bank's net profit rose by 73 per cent at Rs 1,147 crore on back of steady increase in net interest incomes and fees.
 "IndusInd Bank surges 6% on steady operational performance in Q2")
Microsoft Corporation nearly overtakes Apple as most valuable company
Apple's stock market value overtook Microsoft's in 2010 as the iPhone made it the world's premier consumer technology company.
 "Microsoft Corporation nearly overtakes Apple as most valuable company")
Stocks to Watch: Bajaj Finserv, NTPC, L&T, Titan, ITC, PNB, IRCTC, SBI Card
Apart from earnings candidates, auto and telecom stocks could be in focus on reports of chip shortage likely to linger for a longer period
 "Stocks to Watch: Bajaj Finserv, NTPC, L&T, Titan, ITC, PNB, IRCTC, SBI Card")
Bond mkts in India, S Korea most vulnerable to sell-off in the region's EMs
Bond markets in the two countries are at opposite ends of the investment spectrum
 "Bond mkts in India, S Korea most vulnerable to sell-off in the region's EMs")
Recent correction may be an opportunity to enter bank stocks
PSB stocks have outperformed private rivals, and momentum looks strong
 "Recent correction may be an opportunity to enter bank stocks")
Cyclicals drag S&P 500 lower; Microsoft, Alphabet keep Nasdaq flat
Dow down 0.74%, S&P 500 down 0.51%, Nasdaq unchanged
 "Cyclicals drag S&P 500 lower; Microsoft, Alphabet keep Nasdaq flat")