The Sensex and Nifty closed higher on Friday after foreign institutional investors turned net buyers, ending a ten-week selling streak. Concurrently, the domestic currency strengthened to 94.95 per dollar, marking its best monthly gain since February. Nevertheless, broader indices dropped by up to 2%, leaving midcap and smallcap gauges below their primary moving averages despite late-week value buying.
Key points
Strong domestic economic indicators, such as a 19.1% jump in September credit growth, con…: Strong domestic economic indicators, such as a 19.1% jump in September credit growth, continue to anchor local market sentiment.
Volatile international energy costs could challenge domestic stability if crude prices sw…: Volatile international energy costs could challenge domestic stability if crude prices swing toward the projected $120 per barrel mark.
Emerging selective buying at discounted valuations may offer relief for battered midcap a…: Emerging selective buying at discounted valuations may offer relief for battered midcap and smallcap shares trading under key moving averages.
Sources checked by our analysis pipeline: 1
The Sensex rose 308 points to close near 74,460 on Friday, while the Nifty 50 advanced 116 points to settle at 23,053. In contrast, broader markets came under heavy selling pressure, with the Nifty Midcap 100 and Nifty Smallcap 250 indices declining by up to 2%.
Here are 4 factors that D-Street investors will watch out for
1.) Oil prices
Oil climbed 14% in October to settle at its highest levels in six months, as concerns over a possible escalation in the Iran war after the US midterm elections added to supply worries.
According to a Reuters report, oil markets could see further volatility over the next couple of weeks amid Israel's recent elections and the US midterm elections scheduled for November 3, according to a briefing by Saxo Bank on Thursday. The Danish bank expects crude prices to remain in a higher range of $70 to $90 a barrel even after the conflict ends, compared with the pre-war range of $60 to $70.
The threat of further supply disruptions has added to expectations of higher crude prices. Daan Struyven,…
Utssav CZ Gold Jewels is rewarding investors by funding a capital expansion through its securities premium, free reserves, and retained earnings. This corporate action will effectively double the jewellery manufacturer's existing paid-up capital and outstanding shares once regulatory clearances are secured. Despite recent technical pullbacks, the move reflects substantial balance sheet strength built during an aggressive multi-fold market rally this year.
Robust economic activity and a sharp surge in imports provided a significant boost to India's fiscal receipts during the month. Net revenue experienced an even stronger expansion after accounting for taxpayer refunds, indicating healthy underlying consumption trends. Major state economies across the nation maintained solid growth trajectories, with smaller regions posting substantial momentum in their tax intake.
The Ahmedabad-headquartered bio-pharmaceutical manufacturer Concord Biotech has finalized plans to reward existing equity holders through corporate action. Investors must hold the company's stock by Tuesday, November 3, to qualify for the distribution ahead of the midweek eligibility cutoff. This corporate reward comes as the business navigates mixed trading momentum across diverse market timeframes.