Despite positive economic data, Indian equities are expected to trade sideways due to valuation concerns and consistent FII selling. Vikram Kasat of PL Capital highlights this as a stock-picker's market, favoring selective opportunities in sectors like metals, autos, and defence, alongside promising new-age listings.
Reliance Industries, despite its massive market capitalization, ranks third in Nifty 50 index weight due to its lower free-float shares. Banks like HDFC Bank and ICICI Bank hold higher weights because a larger portion of their stock is available for public trading, influencing the index more significantly.
A significant ceasefire agreement has been reached between Israel and Hamas. This deal, brokered by Qatar and Egypt, marks the first phase of ending the conflict. It includes the release of hostages and Palestinian prisoners. Israeli troops will withdraw to agreed lines. Aid will enter Gaza. Negotiations for the next phase begin immediately.
Gold prices dipped slightly on Thursday after reaching a record high of $4,059.05 the previous day, as investors took profits amidst ongoing economic and geopolitical uncertainties. Hopes for further U.S. interest rate cuts continue to support the precious metal, which has seen significant gains this year due to strong central bank buying and ETF demand.
The Gaza Strip faces immense devastation due to the Israel-Hamas war. One in ten people have been killed or injured. Nine out of ten are displaced. Buildings and homes are largely destroyed. Food scarcity is critical, with thousands dying from malnutrition. The conflict has resulted in widespread destruction and a humanitarian crisis.
Asian shares opened higher, mirroring Wall Street's gains driven by AI-linked companies. Gold and oil saw slight declines following a reported Middle East peace deal. Investors are closely watching China's market reopening after a holiday break, balancing AI enthusiasm against cautious consumer spending data.
Donald Trump's administration announced an imminent Gaza deal, a culmination of behind-the-scenes pressure on Benjamin Netanyahu and Arab leaders. Trump leveraged Arab unity after an Israeli attack on Hamas in Qatar to push for his peace plan, ultimately securing a Hamas offer on hostages.
TCS is poised to report a modest sequential revenue increase in dollar terms for the September quarter, following a prior decline. However, operating margins and net profit are anticipated to weaken due to lower employee utilization and the impact of partial salary hikes. Investors will be closely watching for insights into the deal pipeline and future outlook.
Speaking to reporters on the sidelines of the Global Fintech Fest here on Wednesday, the Sebi chief likened the planned upgrade in the password systems to Y2K, when computer systems had to be updated from two-digit to four-digit years to avoid failures.
Canara Robeco Asset Management Company is set to raise 1,326 crore via an offer for sale, reducing its promoter stake to 75%. The equity-driven fund house, with 92% of assets in equity schemes, faces earnings sensitivity to market volatility. Despite a lower profit margin than peers, its IPO valuation is positioned for long-term, high-risk investors.
