BUSINESS
Small, mid cap stocks to lead as earnings growth democratized in India
Earnings growth has been democratised in India with broader participation across companies, which is reflecting in SMIDs enjoying their time in the sun. Fragmented industrial sectors, with no clear leaders, reinforce the momentum, Emkay Global Financial Services said in a note.
Mixed bag of luck and a lot of worries ahead for IT, banking stocks
IT companies reported sluggish topline growth due to delay in execution (largely at the client end) but margins improved.
Markets have turned bearish with key supports under pressure
At the end of the week, BSESENSEX lost 885.12 points or 1.34 per cent to close at 65,397.62 points while NIFTY lost 208.40 points or 1.06 per cent to close at 19,542.65 points. The broader markets saw BSE100, BSE200 and BSE500 lose 1.18 per cent, 1.20 per cent and 1.09 per cent respectively. BSEMIDCAP lost 1.31 per cent while BSESMALLCAP to show a different face actually registered gains, though minuscule of 0.04 per cent.
India story intact but broader markets may move sideways for rest of FY24
Indian markets could see some challenges over the next two to three quarters. A busy election season should create political uncertainty until May 2024. Global macros are also less supportive – a strong commodity cycle and DXY strength are the key worries., A weak monsoon, additionally, could disrupt the recovery in rural spending, which has solid long-term potential. Positioning these factors against the strong rally in the markets since 29 March '23 (Nifty: +15.2%; Nifty Midcap: +35.6%), the case for a ‘pause for breath’ becomes stronger, the report said.
Investors likely to remain cautious on implications of Middle East tensions
Market participants will vigilantly monitor US GDP data for insights into the Fed's interest rate trajectory. Additionally, as the earnings season gains momentum, investor sentiment will be shaped by corporate’s management commentary and bottom-up investment approach, he said.
General Atlantic to acquire minority stake in travel-tech platform TBO
“We see immense potential in the path ahead for TBO, including global expansion opportunities, and are excited to partner with the Company to help enable the next generation of travel globally”, said Shantanu Rastogi, Managing Director and Head of India at General Atlantic.
'US Fed will have to hold interest rates static to stabilise consumer prices'
The theme of "higher for longer" has dominated market speak -- that's the idea that the Federal Reserve will keep interest rates elevated for a prolonged period of time to bring inflation down. But a rise in long-term US Treasury Bond yields could be achieving the same result for the Fed. That could end the past 19 months of historic interest rate hikes meant to contain inflation, CNN quoted experts as saying.
Elon Musk’s X loses over half a billion user visits last month
In September, X's traffic dropped from 6.4 billion to 5.8 billion, a loss of 10 per cent, according to new SimilarWeb data. Of the 176 countries that visited Twitter in September, 83 per cent saw a month-on-month decline in visits. The analysis of the data by Venture Smarter revealed that X has now dropped to seventh place on global rankings behind Meta-owned Instagram.
FPI selling in the cash market in October at Rs 16,176 cr
The primary reason for the sustained selling was the sharp spike in US bond yields which took the 10-year yield to a 17-year high of 5 per cent on October 19. If the safest asset class in the world, the US bond, yields around 5 per cent it is rational for FPIs to take out some money.
RBI fines L&T Finance for keeping borrowers in dark over interest rates
The penalty has been imposed as L&T Finance did not disclose to its retail borrowers the gradation of risk and rationale for charging different interest rates to different categories of borrowers in the loan application form/sanction letter.
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