US Stock Reports, Quotes and News
Mukesh Ambani’s Jio disrupted the market in 2016 with cheap 4G data services, sparking a price war that reshaped the sector into a near-duopoly dominated by Jio and Bharti. Average revenue per user plunged, burdening telecom operators with massive debts.
The private sector lender reported a healthy performance in Q4, with 17% year-on-year (YoY) growth in profit amid contained opex and provisions. The pace of NIM contraction decelerated, down 3 bps quarter-on-quarter (QoQ) at 4.4%.
UltraTech Cement Q4 Preview: UltraTech Cement is anticipated to see an 18% YoY net profit increase to Rs 1,962 crore in Q4FY24, with revenue reaching Rs 20,057 crore, up 8.50% YoY.
Domestic indices rose on Monday amid buying action in banks and easing crude oil prices and geopolitical tensions. Global markets also lent support to sentiments back home.
You can see from foreign flows perspective that rebound in China is detracting from some of the investment in India. I do not think it changes the longer-term trends, but we are in one of those holding patterns similar to the fourth quarter of 2023.
So, I think around May it is going to be very important time zone for the market, so I am playing tactically over here being bullish on the largecaps and being bearish on the smallcaps and midcaps.
ICICI Bank, India\’s second-largest private lender, saw its market capitalization (m-cap) exceed the 8 lakh crore mark as its shares surged to a new 52-week high. The buying action also propelled Nifty Bank to a new record high.
The government may need to reconsider the tax incentives offered to units in the International Financial Services Centre (IFSC) in Gujarat due to the impact of Pillar Two of the Base Erosion Profit Sharing framework, according to a Deloitte report. Pillar Two aims to ensure that large multinational companies pay a minimum effective rate of tax of 15% on profits in all countries. Units in IFSC may not have enough employees and assets to avail of the benefits, so they will need to evaluate the overall tax impact in India after the implementation of Pillar Two rules.
Deven Choksey discusses market opportunities during corrections, stock-specific triggers for recovery like in Kotak Bank and Bajaj Finance. Real estate and consumer durables sectors show growth potential, with Reliance Retail\’s entry expected to disrupt the market.
Yet unless you\’re constantly pulling out a calculator, you\’re unlikely to know whether your wages are keeping up with inflation, whether the stock market has actually hit a real peak or whether a lottery jackpot is as sweet as the marketers claim.
Rate action is unlikely, but comments from Fed Chair Jerome Powell about the potential for policy easing later in 2024 will be scrutinized.
Following each bull run, the index retraces back to its moving average line before initiating another upward trend. This observation underscores the significance of moving averages in determining market trends and mean levels.