Mkts to focus on state elections outcome, RBI's rate decision: Analysts

Global trends, trading activity of foreign investors, outcome of state elections and RBI's interest rate decision are the major factors that will drive the movement in the domestic equity markets this week, analysts said. "Global markets are currently in a fabulous mood. The US 10-year bond yield and the dollar index are also cooling off, which gives strength to the market. These factors will be closely monitored, as they have the potential to influence market sentiment," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. On the political front, the results of assembly elections in five states are eagerly anticipated, Gour said. "A stable political environment could boost investor's confidence and drive the markets higher. Domestic and global macroeconomic data, trends in global stock markets, the movement of the rupee against the dollar, and crude oil will also dictate trends," he added. From the macroeconomic data front, PMI (Purchasing Managers' Index) data fo

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Sharp decline in FDI into India from Cayman Islands, Cyprus during H12023

Foreign direct investment (FDI) into India from Cayman Islands and Cyprus contracted significantly during April-September this fiscal as the overall inflows declined by 24 per cent, according to the government data. FDI from Cayman Islands dipped 75 per cent to USD 145 million during April-September from USD 582 million in the same period last fiscal, the data showed. Similarly, inflows from Cyprus contracted by over 95 per cent to USD 35 million during the six-month period as against USD 764 million in April-September 2022-23. Experts have attributed the sharp fall in FDI from Cyprus and Cayman Islands to a hightened scrutiny of applications. Anjali Malhotra, Partner Regulatory, Nangia Andersen India said FDI inflows from other tax havens such as Singapore, and the UAE have also lost their sheen along with Cayman Islands and Cyprus during first half of 2023-24. "...the recent decline in investment from Cayman Islands and Cyprus may be attributed to enhanced scrutiny of these ...

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Jamshedpur-based Kross files Rs 500 crore maiden IPO papers with Sebi

Kross Ltd -- a specialist in manufacturing forging components for top OEMs -- has filed preliminary papers with capital markets regulator Sebi to raise Rs 500 crore through an Initial Public Offering (IPO). The maiden public issue of the Jamshedpur-based company comprises a fresh issue of shares worth up to Rs 250 crore and an Offer for Sale (OFS) of shares aggregating up to Rs 250 crore by promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Thursday. The OFS portion consists of equity shares to the tune of up to Rs 168 crore by Sudhir Rai and Rs 82 crore by Anita Rai. The company may undertake a pre-IPO placement of its securities worth up to Rs 50 crore. If such placement is undertaken, the fresh issue size will be reduced. Kross proposes to utilise the net proceeds of the fresh issue for the purchase of machinery and equipment, payment of debt, and funding the working capital requirements of the company. Besides, a portion will be used for general corporate

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Gold price climbs Rs 220 to Rs 62,950, silver rises Rs 300 to Rs 79,500

The price of 22-carat gold climbed Rs 200, with the yellow metal selling at Rs 57,700

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TMS Ep574: Crypto exchanges, Hardik Pandya and IPL, auto stocks

Are crypto exchanges proving sceptics right? What is the importance of being Hardik Pandya? Is it time to sell passenger vehicle stocks? What are crypto exchanges and how do they work? Answers here

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Stocks to Watch today: Flair Writing, UltraTech, Kesoram, Honasa, Whirlpool

Stocks to watch on Friday, December 01, 2023: Flair Writing to debut today. UltraTech and Kesoram in focus post all-stock merger deal.

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Global stock index rises as dollar, bond yields climb with rates in focus

The dollar gained as investors took profits on bets it would weaken further and shrugged off economic data suggesting the Fed could be done hiking rates

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Bharat Forge option trading strategy: Deploy a bull spread for Dec expiry

Nandish Shah of HDFC Securities recommends to Buy Bharat Forge 1130 CALL and simultaneously sell 1180 CALL of the November series.

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TMS Ep574: Crypto exchanges, Hardik Pandya and IPL, auto stocks

Are crypto exchanges proving sceptics right? What is the importance of being Hardik Pandya? Is it time to sell passenger vehicle stocks? What are crypto exchanges and how do they work? Answers here

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Retail broking revenues could more than double in 5 years: Bain & Company

Bain & Co highlights that the industry has also managed to penetrate beyond the top cities

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Vanguard to Goldman Sachs, global firms rush to buy Alipay's Zomato stakes

Shares of Zomato have nearly doubled this year as the company started to turn a profit after going public in 2021, prompting some of its biggest investors to lock in gains on their investments

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Stocks to Watch today: IREDA, Zomato, Siemens, PCBL, Aster DM, IOC, IT

Stocks to watch on Wednesday, November 29, 2023: IREDA is likely to debut on a strong note on the bourses today following the robust response received to its recently concluded IPO.

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Nifty Financial Services, Private Bank indices look bullish on charts

According to Ravi Nathani, an independent technical analyst, the Nifty Nifty Financial Services index can rally to 20,210, while the Private Banks index could surge to 23,500.

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FT MF elevates Rengaraju to CIO; Sebi approves IPOs of five companies

Samco Mutual Fund on Tuesday launched its dynamic asset allocation fund, a hybrid fund which will invest in both equity and debt

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Adani group shares rally; ATGL, Adani Energy, Adani Power surge up to 20%

The Supreme Court, last Friday, reserved its order in the Adani-Hindenburg case, and indicated that it might pass some more directions to the Securities and Exchange Board of India

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Gold jumps Rs 270, silver up Rs 1,300; trading at Rs 78,500 per kg

The price of 22-carat gold also rose Rs 250 with the yellow metal selling at Rs 57,350

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Stocks to Watch today: BSE, Honasa, Newgen, Eicher, Cello World, Siemens

Stocks to watch on Tuesday, November 28, 2023: Honasa, Siemens and Newgen Software in focus today as exchanges lower circuit limit, results announcement and a liberal 1:1 bonus share issue.

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Oil prices slip, Brent falls toward $80/barrel ahead of Opec+ meeting

Brent crude futures fell 42 cents, or 0.5%, to $80.16 a barrel by 0901 GMT, while U.S. West Texas Intermediate crude futures were at $75.05 a barrel, down 49 cents, or 0.7%

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Stock market holiday: BSE, NSE closed today due to Guru Nanak Jayanti

Stock market holiday today: Including November 27, the Indian stock market has remained closed for 13 weekdays so far in 2023

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Gold price remains flat at Rs 62,290, silver unchanged at Rs 77,200

The price of 22-carat gold also remained flat, with the yellow metal selling at Rs 57,100

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