Big movers on D-Street: What should investors do with ITC, Zomato and Adani Wilmar?
The equity benchmarks experienced notable declines, breaking a five-day upward trend amidst a global sell-off. Key stocks included Zomato, which gained significantly, ITC, which saw slight losses, and Adani Wilmar, which increased. Analysts highlighted bullish trends in Zomato and Adani Wilmar, while ITC may see a pivotal move if it surpasses 500 levels.
SBI will grow but not at the cost of profitability; aspires to generate Rs 1 trillion PAT: Dinesh Kumar Khara
SBI Chairman Dinesh Kumar Khara highlighted the bank’s balance of stakeholder interests and profitability. He expressed satisfaction with their current growth and future goals, including a profit target of one trillion after tax. Khara addressed the rise in loan loss provisions and emphasized continued focus on corporate credit growth and loan book expansion.
What to do with Zomato, Adani Energy and 4 other stocks? Religare Broking’s Ravi Singh decodes
For Nifty 50, watch key support at 24,600 and 24,350 with resistance around 25,100-25,250. For Bank Nifty, important support levels are 51,000 and 50,500, while resistance is around 51,800 and 52,200. These levels are crucial for determining potential market direction.
RBI’s MPC unlikely to announce a change in repo rate, according to an ET poll
The Reserve Bank of India was likely to maintain its repo rate at 6.50% due to high food prices. An ET poll concurred this steadying move. However, easing core inflation and a global shift toward lower borrowing costs might prompt the RBI to adopt a neutral stance next quarter, aligning with India’s busy economic season.
ET Explainer: Why unwinding of Yen carry trades can rattle global financial markets
The yen carry trade gained focus as the yen appreciated sharply after the Bank of Japan raised interest rates and reduced bond purchases. This caused investors to unwind their positions to avoid losses, leading to a selloff in US tech stocks and affecting global markets, including Asia.
Stocks in news: SBI, Airtel, ONGC, Titan, Infosys, JSW Steel, IDBI Bank
The past week saw domestic markets close marginally lower amid volatility. Key highlights included SBI’s 0.9% rise in Q1 net profit, Titan’s slight profit decrease, and Divi’s Labs’ 21% profit growth. Airtel, ONGC, and Marico were noted for upcoming Q1 results, while Infosys had significant regulatory updates.
Japan’s Nikkei 225 index plunges nearly 7% as global sell-offs resume
Japan’s Nikkei 225 fell 6.7% early Monday, extending losses from last week due to concerns over the U.S. economy dealing with high interest rates. The index later recovered some ground. The S&P 500, Dow Jones, and Nasdaq also experienced declines, amplifying fears of a potential recession in the U.S.
Stocks slugged by US recession risk, bonds bet on rapid rate cuts
Asian markets declined, and bonds rallied as concerns over a potential U.S. recession grew. Investors anticipate the Federal Reserve will cut interest rates following weak employment data. Major indices and futures dropped significantly. Key earnings reports and economic indicators are expected this week to provide further insights into market conditions.