Latest Stock Market News

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.

Lower-rated entities have been tapping the bond market, as it provides lower cost of funds, versus the MCLR rates. The marginal cost of funds-based lending rate (MCLR) is a benchmark interest rate that banks in India use to determine the interest rates for loans.The Prime Database numbers show bond issuances by private and public sector banks, NBFCs and subsidiaries.

The benchmark S&P 500 is set to post its fifth straight weekly gain and is hovering near a fresh record high after rising over 21% this year.

The Board of Wipro will consider issuing bonus shares to investors along with its financial results for the quarter ended September 2024.

The Australian and New Zealand dollars slipped against the greenback in early trading on Monday, while China’s yuan also weakened. US stock futures edged lower, while the MSCI Asia-Pacific share index eked out a gain.