Latest Stock Market News

Hedging returns amid election, earnings, growth, and rate concerns. Cboe Volatility Index surged after Biden quit. Futures, October contracts rose in Asian trading and Hong Kong. Kaiser from Citigroup says Harris maintains policy continuity but adds risk premium due to late nomination change. Traders watch Tesla, Alphabet earnings and Fed rate cut expectations.

Oil prices dropped for the third day in a row due to concerns about increasing supplies and low demand. Market analysts predict a potential surplus next year, affecting Brent prices. Updates on oil inventories are awaited for further clarity.

Gold prices remain stable ahead of key U.S. economic data and Federal Reserve meeting. Chinese gold demand weakens while central banks in emerging markets maintain interest in gold purchases. Political developments with U.S. Vice President Kamala Harris and fluctuations in silver, platinum, and palladium prices.

Budget expectations and market trends discussed by Radhika Gupta reveal potential risks in financial markets and emphasize the need for regulatory action. The budget faces a challenging task of balancing fiscal discipline, infrastructure development, and addressing middle-class concerns. Business cycles show optimism with evidence of controlled expansion and healthy corporate balance sheets.

Nirmala Sitharaman’s Budget must balance welfare and capex amid coalition politics. Risks are capital gains tax hike, populist measures, and STT increases on equity sales and F&O. High Sensex, Nifty raise RBI, Sebi concerns. Robust GST, RBI dividend, asset monetisation help. Economic Survey critiques speculation. SAMCO, Bajaj, Windmill highlight volatility risks.

​I think that what is happening at this moment is while retail and SME are holding the ball as also to some extent rural, private corporate credit, that has really not picked up so far that is still sub-10%.

​Our belief is that given tax buoyancy as well as the extra dividend that the government has received from RBI, there is room to support both infrastructure-led investment growth as well as support some amount of demand revival especially where mass consumption or bottom of the pyramid, rural is concerned, so that is going to be another key factor to watch out for.

Domestic markets closed lower on Monday with Reliance Industries and Kotak Bank under pressure. HUL and Bajaj Finance to announce Q1 results. Suzlon Energy reports impressive 200% YoY profit growth. Federal Bank appoints new MD and CEO. Gensol Engineering secures 116 MW solar project bid in Gujarat. TCS expands partnership with Rolls Royce. Coal India wins bid for graphite block.

Plastic products maker Supreme Industries Ltd on Monday reported an increase of 26.83 per cent in consolidated profit to Rs 273.37 crore in the June 2024 quarter. The company had posted a net profit of Rs 215.54 crore during the April-June quarter of the previous fiscal, according to a regulatory filing from Supreme Industries.