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Gold prices saw a slight increase on Thursday, supported by the anticipation of a U.S. interest rate cut and persistent Middle East tensions. Spot gold rose 0.3% to $2,387.37 per ounce. Investors are awaiting jobless claims data and Federal Reserve statements for further direction on monetary policy decisions.

Dipan Mehta, Director at Elixir Equities, advised investors to maintain a cautious stance amid potential market corrections. He noted that significant investment opportunities arise during downtrends. Mehta remains skeptical about Jio Financial Services and suggested focusing on established NBFC players. He also expressed caution regarding the automobile sector despite upcoming new model launches.

The initial quarter earnings season began with 225 companies, including LIC, Eicher Motors, RVNL, and SAIL, reporting their financial performance. Eicher Motors was expected to achieve a significant profit range, while LIC was projected to see a notable increase in its annual premium equivalent and value of new business on a yearly basis.

On Thursday, eleven stocks, including Aditya Birla Capital and ABFRL, faced an F&O trade ban due to surpassing open interest limits. Meanwhile, Chambal Fertilizers & Chemicals and Granules India were removed from the ban. In a volatile market, Nifty50 and Sensex closed over 1% higher, ending at 24,297.50 and 79,468 respectively.

The golden cross occurs when the short-term moving average crosses above the major long-term moving average.

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

Overall corporate earnings have been in-line with expectations and coupled with a good monsoon this year, we are witnessing positive news flow not only from rural India but also from export dependent sectors like IT and Textiles.

TVS Motor Company Ltd., incorporated in the year 1992, is a Large Cap company (having a market cap of Rs 122313.55 Crore) operating in Auto sector.

Oil prices increased for the third day following a significant reduction in U.S. crude inventories. Brent and WTI futures experienced mild gains. The unexpected fall in U.S. crude stockpiles and potential Middle East supply risks contributed to the upward trend. Additionally, Libya announced a production cut due to protests, adding to the market fluctuations.