Page 4 - Bofa

Paytm rallies 8% to hit over 9-month high on BofA Securities 'buy' call

The brokerage firm BofA Securities upgraded the stock to 'Buy' on the back of strong revenue momentum and operational leverage, which can surprise on consensus estimates.

US recession 'imminent', time to book profits, says BofA Securities

The brokerage says that with markets currently near their peaks, it "leaves room for correction with the onset of a recession in the US".

Time to book profit now; buy when Nifty hits 16,000: BofA Securities

The foreign brokerage firm expects Nifty to drop to 16,000 levels as they foresee global slowdown, volatile commodities, peak urban demand/slow rural revival as some of the risks for earnings.

Investors put $538 billion into cash funds over eight week: BofA

BofA, citing EPFR data, said investors put $51.6 billion into money market funds in the week to Wednesday as the outsized flows continued

BofA sees meaningful risks of Q2 US economic contraction after recent data

BofA pointed to data from April 3 showing US manufacturing activity slumped in March to the lowest level in nearly three years as new orders plunged

With the latest hike, US Fed's rate hikes reach 500bps in one year

Fed Chair Jerome Powell last night said "rate cuts are not in our base case" for the remainder of 2023

Fund managers rush to emerging stocks: BofA survey of global investors

The survey of 299 fund managers, with a combined $847 billion in assets under management, found investors were still broadly cautious, but less so than in recent months

This isn't your mom and dad's recession: BofA's Savita Subramanian

The market could go as high as 4,600, which would be a pretty great year, says Savita Subramanian

Volatile Indian equity markets, flows capping downside: BofA on 2023

Revival in China's economic growth and policies could shrink this premium

Investors pile into cash at fastest rate since Covid-19 crisis: BofA

Cash funds saw inflows of $62.1 billion this week, reflecting investor demand for dollars, which in turn saw the 19th straight week of outflows from gold funds

BofA beats Q3 profit estimates on gains from higher interest rates

The second-largest US bank's consumer business reported a 12% jump in revenue, helped by higher balances and a rise in interest rates and a 9% jump in combined credit and debit card spend

One year of Nifty's lifetime high: Domestic equities stuck in a loop

The fall in the Indian market is far subdued, compared to many global peers that have slipped into bear-market territory

BofA cuts Nifty target to 17,500, cites rupee depreciation, global slowdown

In August, BofA had revised its Nifty target upwards twice citing reduction in macro uncertainty

India OIS curve may steepen on overcooked rate hike bets: BofA Securities

BofA expects the Reserve Bank of India to raise rates by 25-35 basis on Sept. 30 and reckons the policy rate will reach 6.5% by end-2023, much later than what some investors are expecting

Global race to hike interest rates tilts economies towards recession

BofA sees UK and euro area falling into recession in the fourth quarter as surging energy costs take their toll on economies this winter

JPMorgan and BofA cautious on job cuts as Goldman Sachs' layoffs loom

As the risk of recession looms and the Federal Reserve raises interest rates to curb inflation, deal markets have dried up

Abrdn to offload 2% in HDFC Life in block trades, put 43 mn shares on block

Price range set at Rs 564.1-578.55 per share; sale could fetch UK-based financial major at least Rs 2,425.6 cr

BofA's new target: Nifty50 to trade in 17,000-19,500 range this year

Brokerage has revised the mark upwards for the second time this month

Market sentiment gets a boost as FPI selloff stems in July after 10 months

What led to such record outflows? "Rising global central banks' rates, rupee depreciation, expensive valuations and geopolitical risks," says BofA in a note.

BofA Securities Europe SA offloads Delta Corp shares worth Rs 31 crore

The shares of the company were disposed of at an average price of Rs 192.56 apiece, valuing the transaction size at Rs 30.91 crore.