US Stock Reports, Quotes and News
The bearish positions in the derivatives market have come at a time when overseas investors have pulled out about $4 billion from local stocks since early April, reflecting a cautious outlook about the outcome of the elections.
Sandeep Raina of Nuvama projects Nifty50 levels at 24,000 to 25,000 based on expected EPS, influenced by Indian Elections and Middle East tensions. Market trends may align with US Fed’s policies, impacting inflation and equity performance. Raina further says that Indian markets will largely respond to the corporate earnings reports.
Indian Emulsifier IPO GMP: Indian Emulsifier\’s SME IPO, aiming to raise Rs 42.39 crore, offers shares at Rs 125-132 each. The company\’s revenue for Dec 2023 was Rs 48.7 crore with a net profit of Rs 6.75 crore.
India\’s upcoming inclusion in JP Morgan\’s GBI-EM Global Index Suite involves positive market feedback and enhanced accessibility for FPIs through Fully Accessible Route bonds, leading to increased interest from investors globally.
Indian Hotels reported consolidated revenue growth of 17% year-on-year (YoY) in 4QFY24, led by 19% YoY revenue growth in the standalone business and the growth in the standalone business was driven by better occupancy (up 440 bps YoY) and ARR (up 4% YoY; LFL 8% excluding Ginger Santacruz).
Jane Street, which claims to trade in different asset classes at more than 200 venues in 45 countries through its five global offices, is fighting a case against two former employees and Millennium Management.
Amit Goel says Indian stocks are one of the greatest bubbles ever in the history of global capital markets. He anticipates that over the next 3-4 years, huge downsides are going to open up in Indian equities. Goel advises diversifying from Indian equities to other asset classes amid market volatility. He recommends a macro top-down strategy for better protection and returns.
Daily cash turnover slipped below $13 billion last week compared with a peak of $17 billion in February, data compiled by Bloomberg based on 20-day averages show.
The psychological mark of 22,000 holds intermediate support, followed by strong support of the 21,800-21,700 subzone. On the higher end, the 20-DEMA placed at 22,300, followed by a bearish gap of 22,430-22,500, is likely to act as a daunting task in the near period and an authoritative breakthrough could only re-strengthen the lost momentum to the bulls of D-Street, said Osho Krishan of Angel One.
Anurag Singh advises against panic selling in Indian markets, recommending holding cash due to uncertain valuations. He says Indian and all other emerging markets face a little bit of danger because whenever oil spikes, dollar flight happens. But, he says, market recovery is anticipated sooner with strong back channel talks despite geopolitical risks.
“Markets are playing blind man\’s bluff and they are just selling off first and then asking questions, says Ajay Bagga. Do not try to time this market. We do not know where it will go and how far? Both are very strong missile-based powers and this could increase in scope very fast. So, it is very difficult to price this.”
Prime Minister Narendra Modi-led Bharatiya Janata Party is widely expected to win a third term, which will help his administration continue its focus on modernizing infrastructure and boost manufacturing. Indian equities have risen to records this year following a rally driven by robust economic growth.