Trading strategies: On the daily timeframe, L&T has been forming a rounding top formation. It formed a base at the 50-day moving average and recovered from the demand zone at around Rs 2,850. Domestic equity indices ended a two-day winning streak on Tuesday, owing to profit-taking in certain pockets. The BSE Sensex fell 237.72 points,…
Nykaa Q2 Results: In Q1FY24, the Mumbai-based firm reported a net profit of Rs 5.4 crore and revenues of Rs 1,422 crore. FSN E-Commerce Ventures, which operates the beauty and personal care (BPC) company Nykaa, increased its net profit by 50% to Rs 7.8 crore in Q2FY24 from Rs 5.2 crore in Q2FY23, driven primarily…
Local Ladurée: Within the next three years, CK Lifestyle LLP, a subsidiary of the CK Israni Group, which was also responsible for introducing the upscale French pastry chain Ladurée to India, plans to add roughly 20 new locations to the range. The managing director of the CK Israni Group and co-founder Chandni Nath Israni told…
The AUDUSD pair is now aiming for the 0.65 handle after breaking through the trendline. The Fed kept interest rates unchanged, as expected, and made no changes to its statement. Fed Chair Powell reiterated that they are proceeding with caution because the full effects of policy tightening have yet to be felt. The US Core…
Gold prices: Central banks around the world have been buying gold at an unprecedented rate, pushing gold demand (excluding OTC) to 1,147 tonnes in the July-September quarter, 8% higher than the five-year average, according to a new report. According to the World Gold Council’s Q3 Gold Demand Trends report, net central bank buying reached 337…
The Baroda BNP Paribas Small Cap Fund will choose stocks from the bottom up, focusing on companies with strong fundamentals, quality business models, and strong management teams. The new scheme from Baroda BNP Paribas Mutual Fund Baroda BNP Paribas Small Cap Fund raised Rs 1,103 crore during its new fund offer (NFO) period, indicating that…
SBI Q2 Results:: State Bank of India reported an 8% year-on-year (YoY) increase in net profit for the quarter ended September 2023 to Rs 14,330 crore, which was lower than the Rs 14,500 crore predicted by ETNow. Net interest income (NII), which is the difference between interest earned and interest expended, increased by more than…
Apollo Hospitals’ stock saw a 5% increase in value by the end of the day, closing at approximately ₹5,153, following the initiation of coverage by renowned brokerages Morgan Stanley and BofA. Morgan Stanley has a target price of ₹6,101 and is “overweight” in the stock. According to their analysis, there will be a strong 31%…
Global Markets Today: Following the release of data on US job growth, which supported the idea that the US Federal Reserve may be done raising interest rates, global markets saw a rise on Friday despite declining US dollar and treasury yields. MSCI’s global stock index increased by 1.18%. The MSCI index saw a weekly percentage…
Today’s Nifty 50 & Sensex: The Nifty 50 & Sensex, the benchmark equity indices in India, are anticipated to begin trading higher on Friday due to encouraging global cues following a dovish US Federal Reserve. The trends observed in Gift Nifty also suggest that the Indian benchmark index is off to a strong start. The…
