“The quicker we can get some news on what caused the incident, the quicker the market will be able to move on,” she said. “We may see a little bit of volatility at the open tomorrow.”
Taking Stock: Bears tighten grip as Nifty slips below 19,650; Sensex falls 248 points
On the sectoral front, bank, metal, power, realty, oil gas and pharma down 0.3-0.9 percent, while auto index up 0.5 percent.India most preferred EM market, South Korea downgraded: Morgan Stanley
India has been structurally outperforming MSCI EM by 45.5 percent, in dollar terms, from early 2021 until October 2022, and Garner expects this outperformance to continue.Mid-Day Mood | Spike in US bond yields pushes indices into red; corporate earnings in focus
Even in a day of weak market action, gains in select blue-chip stocks powered by their stellar July-September earnings helped the benchmark indices recoup some of their losses and come off the day#39;s lows.ETMarkets Smart Talk: Israel-Hamas conflict could result in long term inflationary headwind: Naveen Kulkarni
“Geopolitical events have long-term consequences for equity markets, but they are difficult to quantify. These challenges often result in higher inflation, particularly in the form of higher crude oil prices. The crude oil price vector will be critical to assessing the long-term impact. Geopolitical concerns may put pressure on commodity prices, but a strong up-move is unlikely. SIP flows remain strong, and as long as investors focus on their risk tolerance, selecting mutual fund schemes should not be a challenge.”
Feroze Azeez on why Indian market has nothing to fear from US 10-year breaching 4.8%
“Option in an election year should be priced at Rs 900 but it is priced at Rs 350. It cannot come so cheap in an election year after a rally of about 16% on the index. This is a little out of the box, it is not a fundamental risk but a technical risk.”
Tesla Q3 Results: EV giant disappoints as discounts bite
Tesla reported lower-than-expected results for the third quarter, with sales reaching $23.35 billion, missing the forecasted $24.19 billion. Net profits also fell short at 66 cents per share instead of the expected 73 cents. Elon Musk’s price cuts on vehicles to increase sales have made investors nervous, causing Tesla’s share price to slide. However, Tesla’s stock valuation still surpasses other US car makers, and it has doubled in 2023.
Problem of depth: Active mutual fund schemes outnumber the stocks they invest in
Eighty percent of active mutual fund AUM is in 178 stocks and about 60 percent in just 79 stocks, as per Accord FintechTaking Stock: Bears in action; Nifty below 19,700; Sensex down 551 points
Biggest losers included Bajaj Finance, Bajaj Finserv, NTPC, HDFC Bank and Axis Bank, while gainers were Cipla, Dr Reddy#39;s Laboratories, Tata Motors, Sun Pharma and SBI Life InsuranceMid-day Mood | Banking stocks drag markets; Nifty retreats from 19,800
HDFC Bank, ICICI Bank, Bajaj Finance, Axis Bank and Kotak Bank were the key counters dragging the BSE Sensex.