Author: Manu
The start of the week has brought notable movements in the prices of gold and silver across major cities in India. On October 14, 2024, the 24-carat gold and silver price fluctuated. Key markets like Delhi, Chennai, Mumbai, and Kolkata reflected changes compared to the previous week and month. Also Read: Market Outlook for October 14: Indian Stock Market Poised for Positive Start In Delhi, the price of 24-carat gold stands at ₹77,833 per 10 grams, a rise from the previous day’s rate of ₹77,583 per 10 grams. On a broader scale, gold has witnessed a minor decline in the…
Top stock picks to watch as the Indian stock market kicks off trading on October 14, 2024. After a significant downturn on Friday, these four stocks show potential for traders looking to capitalize on today’s market movements. With key support and resistance levels in focus. Also Read: Market Outlook for October 14: Indian Stock Market Poised for Positive Start 1. Tata Chemicals LimitedTata Chemicals stands out as a promising pick for today, with momentum building around its recent performance. The stock is currently trading near 1,350 and sees potential for upward movement toward the target price of 1,350. With solid…
As the Indian stock market gears up for the start of the week, investors are keeping a close eye on key indicators pointing toward a positive opening on October 14. Buoyed by encouraging movements in global markets, the outlook seems optimistic for domestic indices, including the Sensex and Nifty 50. Data from Gift Nifty suggests a mildly positive start, as it hovers around 25,085, reflecting a 35-point premium over the previous close of Nifty futures. This subtle rise signals potential recovery after Friday’s market dip, where the Nifty 50 closed at 24,964.25, down by 34.20 points, and the Sensex dropped…
Adani Enterprises’ shares witnessed a 1.3% decline today, trading at ₹3132.05 as of 11:21 AM. The broader market indices, including the Sensex, are also in the red, with the benchmark Sensex down 0.27%, trading at ₹81,387.52. Despite this dip, Adani Enterprises remains a stock of interest, particularly given its technical standing, with the stock maintaining its position above key moving averages. Market Performance The day saw Adani Enterprises hitting a high of ₹3189 and a low of ₹3124.45. The stock’s price has been under pressure in line with broader market sentiment. While the market as a whole is subdued, specific…
The Indian rupee dropped to a historic low of 83.99 against the US dollar on Friday, as concerns over surging oil prices and sustained outflows of foreign capital from the equity markets weighed heavily on the currency. This sharp decline comes after the rupee had already hit a previous lifetime low of 83.9850 on September 12, signaling increasing pressure on India’s exchange rate amid global economic uncertainties. The local currency depreciated to 83.9900 from 83.9675 in the previous session, continuing its downward trend. With global markets facing volatility due to a combination of high oil prices and fluctuations in international…
Shares of Bandhan Bank Ltd soared by over 9% during Friday’s trading session, following the RBI approval of Partha Pratim Sengupta as the new Managing Director and Chief Executive Officer of the private lender. The news was disclosed in an exchange filing after market hours on Thursday, igniting investor optimism and pushing the stock to new heights. The RBI’s approval has given Sengupta a three-year tenure, which will begin once he officially takes charge, a date no later than November 10, 2024. Investors were quick to respond positively to the announcement, with Bandhan Bank’s stock climbing by 9.15% to close…
Orient Technologies’ stock took a notable dip on October 10, 2024, as the shares traded at ₹272.3, marking a 2.98% decline from the previous closing price. The broader market performance showed a mixed sentiment with benchmark indices like Sensex trading up by 0.34% at ₹81,741.12, and the Nifty 50 also witnessing slight gains. Orient Technologies’ shares were unable to ride the positive wave, reflecting a distinct movement in the day’s trading session. The stock opened at a relatively stable point but soon encountered volatility throughout the day, hitting a high of ₹283.55 before dropping to a low of ₹271.25. As…
Phoenix Overseas Ltd, a company listed on the NSE Emerge platform, made headlines on Thursday after its shares surged by 5%, hitting the upper circuit limit. The spike follows a major announcement regarding the company’s associate, BCL Bio Energy Private Limited, which has commenced production of crude edible oils. The development marks a significant milestone for Phoenix Overseas as the company looks to expand its footprint in the growing edible oil and de-oiled cakes market. Phoenix Overseas Share Price Surges The trading day began on a positive note for Phoenix Overseas Ltd as its share price opened at ₹44.80, over…
In today’s market update, Osho Krishan, Senior Analyst for Technical & Derivatives at Angel One, has spotlighted two key stocks: Axis Bank Ltd and EIH Ltd. With the Indian stock market entering a volatile phase, Krishan’s stock recommendations reflect strategic buying opportunities based on technical support levels. As investors navigate fluctuating trends, these stocks present favorable conditions for short-term and medium-term gains. Market Overview Thursday began on a cautiously optimistic note for Indian equity markets. The domestic benchmark indices, Nifty 50 and Sensex, opened slightly higher, reflecting investor confidence despite market volatility. The Nifty 50 registered a minor increase of…
In a significant development for the aviation industry, budget carrier SpiceJet announced on Wednesday that it has reached an amicable settlement in a $132 million dispute with aircraft leasing firm Babcock & Brown Aircraft Management (BBAM). The airline’s stock responded positively to the news, rising by 6% as investors welcomed the resolution of this major financial hurdle. Background of the Dispute The dispute, valued at $131.85 million (approximately ₹1,107 crore), involved several aircraft lessors, namely Horizon Aviation 1 Ltd, Horizon II Aviation 3 Ltd, and Horizon III Aviation 2 Ltd, all of which are under the management of BBAM. The…