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Spot gold prices reached near-all-time highs as multiple catalysts pushed prices higher, such as a weak US dollar, the US debt ceiling standoff, and global economic fears. Investors shifted from the dollar to gold-like assets due to a drop in the outlook for global interest rates. The recent banking crisis, predictions of a pause in US interest rates and signs of easing inflation prompted investors to flock to safe-haven assets. The short-term outlook for gold remains positive, but there is a chance of correction. However, any downside turnaround point is seen at $1800 an ounce.

Options trading is a fascinating and versatile tool for hedging against risk, generating income, and speculating on future stock price movements. Options act as contracts that grant the right, but not the obligation, to buy or sell an asset at a specific price within a certain time frame. Options provide leverage and flexibility and are actively traded on exchanges. However, it is crucial to have a thorough understanding of the dynamics of options trading to avoid falling into an option trap. Inexperienced traders need to approach options trading with caution and care.

Only ITC and Infosys faced erosion in their valuation, while Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Hindustan Unilever, State Bank of India, HDFC and Bharti Airtel were the gainers.

Indian indices are likely to surpass their all-time high level of 18,800 levels, with an immediate strong support at 18,200, according to Kunal Shah, the senior technical analyst at LKP Securities. The fall in crude oil prices with renewed buying activities in the auto sector supported Indian indices, which remained bullish and resumed strength after dips. Brightcom Group’s one of the biggest rallies in a week presented an opportunity for position closure while, on the other hand, Greaves Cotton had just crossed resistance at 165 and a buy-on-dip approach is expected.

The recent election in Karnataka, India, which saw Indian National Congress emerge as a clear winner, is expected to have little impact on domestic stock markets as much of the outcome had already been factored in by investors, according to analysts. The Nifty index was up 0.79% for the week and fared well despite the upcoming general elections in 2024. While experts point to a possibility of some profit taking, a break above the key resistance level of 18,440 could lead to further gains, potentially reaching the 18,630 – 18,690 range.

The Nifty remains just 573 points from its all-time peak of 18,887.60 thanks to foreign institutional investors (FIIs) pouring over INR23,000 crore into Indian stocks so far in May. Despite their positive influence, investors remain sceptical over interest rate movements, particularly linked to the uncertainty of demand slowdown in China and recession fears in the US. This week will see market participants react to macroeconomic data and global cues, along with monitoring big names such as Bharti Airtel, SBI and ITC endorsing Q4 earnings season.

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Last week, the Adani Group had said that it was considering a plan to raise funds in three group companies - Adani Enterprises, Adani Green Energy and Adani Transmission. ET had reported on May 12 that the group was considering a sale of fresh equity in the above companies to raise up to $2.5 billion.

New mothers should start saving a portion of their salary, ideally around 25%, to assure a secure financial future for themselves and their children. They can channel this saving into ULIPs, mutual funds, and the New Pension Scheme to enjoy their spending and build a nest egg. Additionally, they can reduce debt, get insurance, invest in sovereign gold bonds, diversify their investments, and invest in retirement to ensure financial stability in the long term. Teaching children the value of money, keeping hobbies, and investing in SIPs can also be helpful.

Rajesh Palviya of Axis Securities says that automobiles can continue further upward momentum as most of the stocks have displayed a breakout on the daily as well as on the weekly time frame. From the automobile space, one can look at Mahindra & Mahindra. Stock has shown good recovery in the last couple of weeks and looking at the overall setup, we believe that M&M can continue further upward momentum.