Asian shares hold ground, Japan rate fears dent Nikkei
The Nikkei led the early action with a dive of 4.0% as investors anxiously waited for more direction from new Prime Minister Shigeru Ishiba, who has been critical of the Bank of Japan’s easy policies in the past.
Higher F&O rollovers put these stocks on traders’ radar
Analysts expect margins of oil marketing companies to improve with crude prices softening. Traders could buy IOC stock for a price target of Rs 196 with a stop loss of Rs 171, said Ruchit Jain, lead research analyst at 5Paisa.com.
Banks look for a way out of UBO tangle
Banks in Mumbai are facing challenges with identifying ultimate beneficial owners (UBOs) of foreign investments due to varying disclosure rules across countries. This issue has been discussed among senior bankers, who believe India’s anti-money laundering laws should adapt to different international standards to ensure compliance and transparency.
Credit cards bring experiences to woo the young and affluent
Credit and debit cards offering discounts on travel, experiences, and lifestyle are gaining popularity among affluent and young customers. Banks like Bank of Baroda, HDFC Bank, and HSBC are partnering with travel companies to provide exclusive offers. The trend is driven by rising demand for unique experiences and live events.
Bond yields likely to soften with FPI inflows, saving interest costs for government
The Centre’s gross borrowings for the second half of the fiscal have been fixed at ₹6.61 lakh crore with the borrowing target for the entire fiscal being maintained at ₹14.01 lakh crore, the central bank said last week. About 77% of the bond issuances will be for 10 years or higher tenure.
IT stocks look set for recovery with pick-up in outsourcing demand
The BSE Infotech index has gained 15.9% during the period, the third highest following 20.9% return in the BSE Healthcare and 16.6% increase in the BSE FMCG indices. In addition, barring Wipro, which gained 6.5%, other top IT stocks including TCS, Infosys, HCL Technologies, Tech Mahindra, and LTIMindtree have earned double-digit returns during the period.
Nifty likely to trade in 25,800-26,650 range: Analysts
Stocks like Sun Pharma, Dr Reddy’s, M&M, Eicher Motors, UBL, HDFC Bank, Tata Power, BPCL, ICICI Bank, Polycab, ABC, and CEAT are recommended by analysts for short-term trading.