The domestic markets saw a rise for the second consecutive week, with RailTel, TVS Motor, and IREDA among the top gainers. Technical Analyst Pravesh Gour provided insights on these stocks, mentioning their positive technical indicators and potential future gains. Key support and resistance levels were also discussed.
Gold edges higher as Fed backs September easing
Gold prices rose on Monday, extending gains from the previous session after Federal Reserve Chair Jerome Powell indicated support for an interest rate cut next month. The dollar’s near eight-month low and falling benchmark yields boosted gold’s appeal, while geopolitical tensions between Hezbollah and Israel added to market influences. SPDR Gold Trust’s holdings also saw a slight decrease.
Mayuresh Joshi’s top stock pick for the week ahead
Most management commentaries from within the space are indicating a significant amount of rural discretionary spending coming back in the second half with better crop produce and better crop realisation and so on and so forth, according to Mayuresh Joshi, Head Equity, Marketsmith India
Auto parts maker Carraro India files DRHP for Rs 1,812 crore IPO
The offer is being conducted through the book-building process, with up to 50% allocated on a proportional basis to qualified institutional buyers, at least 15% allocated to non-institutional investors, and at least 35% allocated to retail individual investors.
Avoiding Pitfalls: Key considerations before investing in momentum stocks
The concept of “present value” is rooted in the idea that money’s worth changes over time. Essentially, a rupee today is worth more than a rupee tomorrow. This is because money can be invested and earn interest, making it more valuable in the present. Factors like interest rates and people’s outlook on the future influence how we perceive the value of money at different points in time.
WazirX security breach: Crypto platform to resume INR withdrawals in phases starting August 26
WazirX will lift the suspension on INR balance withdrawals starting August 26. Users can withdraw 66% of their balances by September 22. A breach in its multisig wallet resulted in a loss of $230 million, leading WazirX to adopt a Singapore scheme to fairly resume cryptocurrency withdrawals after user approval.
NSE rejig: Vodafone Idea to exit Nifty 500, Nifty Midcap 100
Vodafone and 26 other stocks are exiting the Nifty 500 index while Trent and Bharat Electronics joined the Nifty 50, from which LTI Mindtree and Divi’s Laboratories exited. Effective from September 30, 2024, these changes will come into effected.
PSU stocks HUDCO, Cochin Shipyard among 13 additions into FTSE All-World index
FTSE announced changes to its All-World Index on Friday, adding 13 Indian stocks, the highest from any country. The new additions include Bank of Maharashtra, Central Bank of India, Cochin Shipyard, Hitachi Energy India, HUDCO, KEI Industries, and Motilal Oswal Financial Services. Additionally, 14 Indian stocks were added to the FTSE Large Cap Index, including Bharat Dynamics and Dixon Technologies.
Banks, financial stocks suffer Rs 15,000 crore shock from FIIs. Should you go against the wind?
In the first half of August, foreign institutional investors withdrew Rs 14,790 crore from financial stocks due to concerns about Fed rate cuts. They invested in healthcare, FMCG, and consumer services instead. Experts suggest these financial stocks now offer good value, with larger banks like ICICI, Axis, and SBI being top picks for stable returns.
Buy DOMS Industries, target price Rs 2620: Axis Securities
DOMS Industries Ltd. key Products/Revenue Segments include Stationery, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2023.