Indian IT companies are expected to report a single-digit revenue growth up to 4% in the quarter that ended on September 30, 2024 with the likelihood of positive commentary for the rest of FY25, according to estimates by three brokerages. The earnings season begins on Thursday, October 10 with the announcement of results by Tata … Read more
Comex December gold future slid 1.55% through the week as the contract finished around $1916.50, and spot gold was at $1889 an ounce, at its weakest level in five months, pushed down by strengthening USD and surging UST yields amid growing bets for higher for longer interest rates from US Fed from the traders. The … Read more
Shares in European banks got pummeled again on Wednesday, as Credit Suisse plunged to fresh record lows after the lender’s biggest shareholder said it could not raise its 10% stake citing regulatory issues. Credit Suisse fell below 2 Swiss francs ($2.18) for the first time after Saudi National Bank said it could not go above … Read more
Nifty today broke its downward trending channel on the daily chart and formed another bear candle with minor upper and lower shadow. Now, till it remains below 17,250 zones, weakness could continue towards next support of 17,000 then 16,800 levels while on the upside hurdles are seen at 17,250 and 17,350 levels, said Chandan Taparia … Read more
Blackstone has sold its entire 20.5% stake in Sona BLW Precision Forgings for about Rs 4,916 crore via a block deal on Monday. Blackstone, through its subsidiary, Singapore VII Topco III Pte Ltd, offloaded about 11,99,25,641 shares at a price of Rs 410 per unit, according to the data available with the exchanges. The sale … Read more
Gold closed with a gain of nearly 0.70% in the week gone by, erasing steep losses made on Federal Reserve Chair Powell’s hawkish testimony. It ended the week at $1867.24. Gold gained on worries about the US banks as Silicon Valley Bank defaulted, which led to spillover concerns. Some softer than expected data in the … Read more
The Indian market opened higher on Wednesday. The Nifty 50 index rose 103 points or 0.60% to 17,407, while the S&P BSE Sensex surged 346 points or 0.59% to 59,308, as of 9.22 am. The markets closed in the red for the eighth consecutive day in a row on Tuesday and the global setup suggests … Read more
Indicating a downtrend continuation pattern, a long bear candle was formed on Nifty’s daily chart today. Negative chart patterns like lower tops and bottoms were formed on the weekly chart and Nifty is currently on the way down to form a new lower bottom of the sequence (below 17,353), said Nagaraj Shetti, Technical Research Analyst … Read more
Nifty today formed a bearish candle on the daily chart with a minor lower shadow. The index has been forming lower highs – lower lows from the last three trading sessions. Now, it has to cross and hold above 17,888 zones, for an up move towards 18,035 then 18,081 zones, whereas supports are placed at … Read more
Indicating further weakness from current levels, the headline index Nifty on Monday formed a long bear candle with a minor upper shadow on the daily charts. Now, it has to cross and hold above 17888 zones, for an up move towards 18035 then 18081 zones, whereas supports are placed at 17777 and 17650 zones, said … Read more