Middle East conflict keeps markets nervous ahead of China’s reopening
The benchmark 10-year U.S. Treasury yield held above 4% in early Asia trade, as a robust U.S. labour market prompted traders to heavily scale back their expectations for Federal Reserve rate cuts.
Gold prices likely to be volatile, avoid lumpsum purchases
Over the last one month, gold price in dollar terms has moved up by 6.3%, while in rupee terms it is up 7.1%. The Nifty has shed 0.7%. In this calendar year, gold gained 28.8% in dollar terms, while in rupee terms it gained 21.2%, compared to the Nifty’s gains of 15.3%.
Financial services draws most FPI flows in September
Overseas investors sold shares worth ₹7,054 crore across eight sectors in the second-half of the month. The consumer services sector witnessed the highest foreign outflows at ₹2,784 crore, after receiving inflows worth ₹4,158 crore in August.
Rise in US jobs may lead to reversal of trades hinging on Fed lowering rates
The Fed delivered a jumbo-sized 50 basis-point cut last month, temporarily vindicating that view. But the trajectory of rates is less certain after Friday’s labour market report, which showed the US economy creating over 100,000 more jobs than expected last month. That suggests there is less need for more large cuts this year and raises […]
HFCs propose higher guarantee cover for affordable home loans
Housing finance companies propose revamping the Credit Risk Guarantee Fund Trust for Low Income Housing. They suggest increasing the guarantee cover for home loans to ₹25 lakh from the current ₹5 lakh. This renewal aims to include more low-income customers and boost affordable housing in 124 districts. The government’s response is awaited.
HDFC Bank’s online services hit by glitches
“The bank had to take an unscheduled downtime earlier today (Monday) as some operations like transactions through RTGS and NEFT using net banking were affected,” a spokesperson said at the lender. “The issue stands resolved.”
Hero Motors withdraws draft papers for IPO
According to investment bankers, there were some technical issues with the draft papers and Sebi requested the company to make necessary revisions. As a result, the company decided to withdraw and refile the DRHP, they said. “The withdrawal of the DRHP has nothing to do with the weak secondary market. The company is expected to […]
Investors can now access 100% of sale proceeds for same-day trading
Starting Monday, investors will receive 100% of their sale proceeds on the same day, enabling immediate reinvestment. Previously, only 80% was accessible the same day with the rest available later. This change, aimed at enhancing liquidity, will benefit trading activities significantly.
Ashish Kacholia buys fresh stake in this smallcap company, stock up 5%
Ace investor Ashish Kacholia bought a 2.52% stake in Jyoti Structures. The stock closed 4.8% higher. Promoters and the promoter group do not hold any stake in the company. The entire 100% stake is held by public shareholders like FPIs, AIFs, and insurance companies.
BSE, Coforge among 6 small & midcap stocks that hit 52-week highs on Monday
Indian indices reversed early gains and declined on Monday, driven by Middle East tensions and concerns over corporate earnings. Despite the market downturn, six small and midcap stocks from the Nifty 500 index reached new 52-week highs.