Latest Stock Market News

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock

Reliance Industries will reveal its July-September 2024 quarterly results today, with expected declines in net profit by 10% year-on-year and net sales by 0.6%. The oil-to-chemicals segment is anticipated to underperform, while consumer businesses and Jio Platforms likely show resilience.

Shares of Network18 Media & Investments are expected to gain attention on Monday after the company reported a consolidated loss of Rs 221 crore for the September quarter, up from Rs 83 crore in the same period last year. The company also noted that TV advertising was low, impacting overall revenues.

Hospitals in India introduce additional charges, such as disinfection fees and peak operation theatre charges, leading to a 20% rise in medical costs. Insurers struggle as previously bundled services are unbundled, causing unpredictability in healthcare expenses and potential increases in insurance premiums.

Bank margins may remain under pressure due to higher deposit costs. Loan growth trends will be monitored, especially in the unsecured retail segment. Analysts expect slower growth and higher credit costs for banks with more exposure to microfinance and unsecured loans. Earnings growth for private and PSU banks may vary between 4.1% and 17.2% year-on-year.

The RBI may shift to a new benchmark for interest rate derivatives, the secured overnight rupee rate (SORR). Market participants suggest launching a new trading platform similar to ASTROID. The transition could bring more participants into the market, offering tools like T-bill swaps and basis swaps. The goal is to reduce volatility and improve market confidence.

In an exchange filing, the company stated that its board would discuss the proposal for issuing bonus shares in accordance with the applicable provisions of the Companies Act, 2013, during a meeting scheduled for October 16-17.

As both indices have reached near monthly support levels, along with current oversold positions, traders can expect a bounce from the current level. Nifty may bounce toward the 25,250-25,500 level and Bank Nifty to 52,200-52,800 in the coming days.

​​After the drop, these stocks can potentially deliver 20% to 50% returns based on the average target prices set by analysts. For example, microfinance firm CreditAccess Grameen has declined 16% in the last three months.

The firm said the rapid growth in the solar sector, battery industry, and Chinese consumption have led to demand outstripping supply. It has given ‘buy’ calls on Nalco and Vedanta, while maintaining a ‘reduce’ on Hindalco.