US Elections: Donald Trump's return as US President brings potential benefits and challenges for India. India may see stronger strategic ties with the US against China. Trade issues and reduced cooperation in technology and defense are possible concerns. Trump's stance on immigration could also impact Indian workers seeking opportunities in the US.
NCP (SP) working president Supriya Sule stated that political reconciliation with Ajit Pawar is improbable while he remains aligned with the BJP. She emphasized that the NCP (SP) is not vying for the Chief Minister position and expressed confidence in the Maha Vikas Aghadi's (MVA) prospects in the upcoming assembly elections.
Waaree Energies, India's largest solar panel maker, saw its shares dip slightly despite securing a major order. This follows a stellar week for the company, which recently went public. The IPO was a resounding success, attracting record bids and pushing the company's value over Rs 1 lakh crore.
Global business leaders were concerned about rising protectionism and tariffs. Some praised Trump's pro-business stance and tax cuts. Others expressed concerns about the impact on electric vehicle tax credits and the Inflation Reduction Act.
The cryptocurrency industry heavily invested $135 million in the recent U.S. elections, aiming to elect pro-crypto candidates. Their efforts proved successful, with a significant number of endorsed candidates, including Bernie Moreno who defeated a prominent crypto-skeptic senator, securing victories.
Indian benchmark indices Sensex and Nifty50 dipped on Thursday, reversing the previous session's gains, as investors shifted focus to the Federal Reserve's rate decision. Despite Asian markets advancing and Wall Street hitting record highs, Indian equities retreated, influenced by profit-booking and concerns over potential US trade policies under President-elect Trump.
Motilal Oswal Financial Services has reiterated a buy call on Maruti Suzuki India Ltd., setting a target price of Rs 13,875. The brokerage cites the e-Vitara, a global product with significant export potential, as a key driver for future growth. The company recently reported a consolidated total income of Rs 38972.40 crore for the quarter ended September 30, 2024.
Mid cap schemes invest in mid cap stocks or in stocks of medium-sized companies. As per Sebi norms, mid cap schemes are mandated to invest in companies that are between 101 and 250 in the market capitalisation. These companies can be leaders of tomorrow. That’s what makes them great bets. If these companies live up to the promise, the market will reward the investors handsomely.
As of November 6, futures open interest surged over 10% in Syngene International, Mphasis, Granules India, and Chambal Fertilisers, indicating strong market participation and an uptick in active futures contracts.
Gold and silver prices dipped to a near one-month low following Donald Trump's victory in the US presidential election. The dollar index and US bond yields surged, pushing precious metal prices lower. Market analysts predict continued volatility in gold and silver prices, influenced by the upcoming US Fed policy meetings and geopolitical factors.
Zhong Shanshan remains China's wealthiest individual for the fourth consecutive year despite a significant decrease in his net worth. China's richest saw their collective wealth surpass US$1 trillion, fueled by a resurgence in the stock market. Ma Huateng, chairman of Tencent Holdings, experienced the most substantial gain, propelling him to the second spot on the list.
On November 6, six stocks from the NSE large cap pack came to the bullish scanner of "White Marubozu", according to stockedge.com's technical scan data.
ICICI Securities maintains a 'reduce' rating for Prestige Estates Projects, lowering the target price to Rs 1,485. Despite a 43% year-on-year decline in Q2FY25 gross sales bookings, the company maintains its FY25 sales target, driven by upcoming launches in Mumbai and NCR. The brokerage's revised target price factors in a recent QIP and land acquisitions.
Chennai city and surrounding areas will receive heavy rainfall on Thursday. The Indian Meteorological Department has issued a yellow alert for Chennai and other districts until November 12. The heavy rainfall is due to a cyclonic circulation in the Bay of Bengal. Residents are advised to carry umbrellas.
Apollo Hospitals' shares reached a record high after the company announced a 63% surge in Q2FY25 net profit, hitting Rs 379 crore. This impressive performance was fueled by a robust 14% growth in their hospital business revenue, reaching Rs 2,903 crore, and a significant rise in patient inflow, pushing occupancy to 73%.
While we have been lulled into believing that markets should not be volatile—based on the experience of the last few years—volatility is an inherent characteristic of the markets. That said, the volatility was concentrated in October, with broader indices down by around 7% or so.
The Chinese yuan dropped to a near three-month low against the U.S. dollar due to a weakened official guidance and market concerns about potential higher tariffs on Chinese goods following Donald Trump's victory in the U.S. presidential election. Trump's proposed tariff and tax policies are seen as inflationary and likely to keep U.S.
BSE, Voltas, Alkem Laboratories, Kalyan Jewellers, and Oberoi Realty will join the MSCI Global Standard Index, attracting passive inflows of $2.5 billion, with Voltas leading at $312 million. HDFC Bank's weightage increase will trigger inflows of $1.87 billion. Additionally, 13 stocks will join the MSCI India Smallcap Index, collectively attracting $71 million. India’s MSCI Emerging Market Index weight will rise to 19.8%.
The Indian market is expected to open lower on Thursday due to muted global cues. India VIX fell 7.78%, indicating reduced volatility and possible increased investor confidence. Key resistance levels for the Nifty are at 24,600 and 24,800, while support lies at 24,400 and 24,200. Experts suggest select stock recommendations for short-term traders, including Affle India, Atul, and L&T.
A 5-year swing high represents the highest price a stock has reached within the past five years.
Motilal Oswal Securities recommends buying Gland Pharma stock. They predict a target price of Rs 1970. The brokerage expects Gland Pharma's earnings to rebound over the next few years. This growth will be driven by higher sales of existing products and new product launches. Gland Pharma's stock is currently trading at Rs 1786.4.
Brokerage firms have varied recommendations: JP Morgan rates Apollo Hospitals overweight, Citi downgrades Gujarat Gas, Morgan Stanley is positive on JSPL, while Jefferies gives a buy rating to Polycab.
Power Grid Corporation reported a consolidated net profit of Rs 3,793 crore in the September quarter, remaining unchanged from the previous year. Revenue remained stagnant at Rs 11,278 crore. Despite the flat growth, the company announced an interim dividend of Rs 4.
During Donald Trump's second presidential campaign, his advisory team shifted from traditional economic voices to a more unorthodox group of financial figures. This includes Wall Street leaders like Howard Lutnick, CEO of Cantor Fitzgerald, and investors Scott Bessent and John Paulson, who are pushing for more aggressive economic policies, including higher tariffs on China.
On November 6, five Nifty50 stocks, including Dr. Reddy’s, L&T, TCS, Bajaj Finance, and BPCL, closed above their 200-day moving averages, signaling an uptrend according to technical data from StockEdge.
