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IndusInd Bank share price today surged over 2% in early morning deals Stock market today: After announcement of Q4FY23 results yesterday, IndusInd Bank shares have been in uptrend since morning deals on Tuesday. IndusInd share price today opened upside and went on to hit intraday high of ₹1,127.60 apiece on NSE, logging around 2.30 per cent rise within few minutes of stock market's opening bell today. According to stock market experts, IndusInd Bank has reported a decent fourth quarter results for the financial year 2022-23, and market is reacting to the good quarterly numbers announced by the private lender. They said that the banking stock looks positive and it may go up to ₹1600 apiece levels in long term. Why IndusInd Bank shares are rising? On why IndusInd Bank shares are surging today, Shreyansh Shah, Research Analyst at Stoxbox said, "IndusInd Bank has delivered a decent performance in the fourth quarter, with good momentum seen across its businesses such as retail and...

Investors searched for a sense of direction after US markets failed to provide cues Global markets today: Global investors are eyeing US earnings reports, with Goldman Sachs issuing disappointing results as its showed traders failed to capitalise on Wall Street’s fixed-income boom, contributing to firmwide revenue that trailed estimates. Bank of America Corp rose after profit beat expectations. Investors are also keeping an eye on the results of regional US banks after three collapsed last month as lenders face pressure from rising interest rates. Meanwhile, the Indian stock market oscillated in a narrow range and ended marginally lower, in continuation of Monday's decline. We are seeing reactions largely based on earnings, in absence of any major event. Banking and financials hold considerable weight in the benchmark and their resilience indicates further room for upside," said Ajit Mishra, VP - Technical Research, Religare Broking. US stock market Wall Street stocks finishe...

Gold rate today has immediate support placed at $1,980 levels in international market and in domestic market its immediate support is placed at ₹59,700 levels, say experts Gold rate today: Despite US dollar continued to attract buying interest of currency market bulls, gold price today sustained above $2,000 per ounce levels in international market that triggered bottom fishing in Indian markets as well. Gold future contract on Multi Commodity Exchange (MCX) for June 2023 opened higher and went on to high intraday high of ₹60,404 per 10 gm within few minutes of commodity market opening. In international market, gold price bounced back immediately after hitting intraday low of $1,995.51 levels and climbed to intraday high of $2,006.24 levels. According to commodity market experts, despite strength in US dollar on Monday deals, the American currency continues to remain a 'sell on rise' asset and Dollar Index may soon breach its immediate support placed at 100 levels. They said ...

For Wednesday, Ganesh Dongre, Senior Manager - Technical Research at Anand Rathi expects Nifty to find support at 17300/17350 with resistance between 18050/18100. While the Bank Nifty index is seen to have support in the range of 40300/40500 with resistance at 41500/41600. Markets have been on a rising spree for seven consecutive days now. Sensex has crossed its psychological mark of 60,150, while the Nifty 50 almost neared 17,750 levels. On Wednesday, market sentiments will be driven by CPI inflation and factory output data. Also, global trends will add to the mood. Investors will also bet amidst the onset of Q4 earnings season with TCS being scheduled to be released later in the day. On Tuesday, Sensex closed at 60,157.72 up by 311.21 points or 0.52%. Nifty 50 jumped by 98.25 points or 0.56% to end at 17,722.30. Rohan Patil, Technical Analyst, SAMCO Securities said, "The frontline index of NSE Nifty-50 ended on a positive note for the seventh straight session and closed above 17...

Gold, silver rate today are rising on these 5 reasons — weakness in US dollar rate, poor US data, US Fed interest rate peak out, fear of slowdown and rising oil prices, say experts Gold rate today extended its rally on yet another session after hitting life-time high of ₹61,145 per 10 gm on Multi Commodity Exchange (MCX) on Tuesday. While climbing to record high on MCX, gold price hit 13-month high in international market. Silver rates today are also in uptrend hitting 12-month high in international market whereas it hit 22-month high on MCX. According to commodity market experts, reason for rise in gold and silver rates in commodity market today can be attributed to these 5 reasons — weakness in US dollar rate, poor US data, US Fed interest rate peak out, economic uncertainty and rising crude oil prices. They said that gold price in India have strong support placed at ₹59,500 levels while in international market the yellow metal has strong support placed at $2,010 levels. Likewise, s...

Share Market LIVE Updates: Indian stock market started in the green as Sensex goes above 57,700 and Nifty adds 50 pts. Most sectors start in green with Adani stocks gaining in early trading. Wall Street ended lower on Tuesday as Tech and Bank stocks continued to remain under pressure. Asian markets are also mostly trading lower in the morning session. Indian stock market will be firmly under the grips of bears as global banking stocks continue to remain volatile. Domestically, RBI policy decisions will drive the market in the coming weeks. RBI will begin its 3-day monetary policy meeting on April 3rd and the outcome in key rates and economic outlook will be announced on April 6th. FCI procures season’s first wheat in Madhya Pradesh, buys 10,727 tonne The Food Corp. of India (FCI) procured 10,727 tonne of wheat on Monday, the first day of 2023-24 rabi marketing year. The quantity was purchased at the minimum support price of ₹2,125 per quintal in Madhya Pradesh, said Ashok Meena, chair...

Hindustan Zinc has announced ₹26 per share interim dividend to its eligible shareholders One of the dividend stocks in India, Hindustan Zinc Ltd announced fourth interim dividend in FY23 on Tuesday. The board of directors of the state-owned company declared ₹26 per share interim dividend for the financial year 2022-23. The company has already fixed record date for finalising the eligible shareholder for interim dividend payment on 29th March 2023. From this ₹26 per share interim dividend, a big number of its shareholders are going to benefit directly as dividends are directly transferred into the bank account of company's shareholders. As LIC, Vedanta too have stake in Hindustan Zinc, these two companies are expected earn whopping amount from this ₹26 per share interim dividend. As per ther shareholding pattern of Hindustan Zinc for October to December 2022 quarter, Vedanta is expected to earn around ₹7,132 crore whereas Life Insurance Corporation (LIC) is expected to earn near ₹29...

Global markets mixed as contagion fears grip the investors after weekend rescue deal for Credit Suisse; all eyes on US Fed. Global markets update: The central banks and governments over the weekend hatched a deal to rescue Credit Suisse and First Republic Bank, but the contagion fears of a larger baking crisis remain. Asian stocks opened mixed on Monday. All eyes are now on US Federal Reserve, which will announce its monetary policy decision on March 22. Asia Market Asian stocks steadied and U.S futures rose on Monday in relief at a weekend rescue deal for Credit Suisse and a concerted effort from central banks to shore up the mood, though trade was tense and volatile as contagion fears stalked financial shares. UBS-Credit Suisse rescue deal In an effort to avoid further market-shaking turmoil in the global banking system, UBS is buying troubled rival Credit Suisse for almost $3.25 billion. The Swiss bank is paying 3 billion francs ($3.3 billion) for its rival in an all-share deal tha...

Gold rate today climb to intraday high of ₹58,277 per 10 gm on MCX and came more close to its record high of ₹58,847 per 10 gm levels Gold rate today: On account of ease in bank crisis and European Central Bank (ECB) raising interest rate on sixth straight meeting, gold and silver price today ascended in early morning deals. Gold price came further close to its life-time high of ₹58,847 per 10 gm levels and hit intraday high of ₹58,277 levels, around ₹600 per 10 gm away from its record high on Multi Commodity Exchange (MCX). Gold future contract for the month of April 2023 on MCX today opened upside at ₹58,269 per 10 gm and went on to hit intraday high of ₹58,277 levels. But, profit booking triggered soon and gold price today made intraday low of ₹58,174 per 10 gm. Silver future contract fro May 2023 on MCX opened higher at ₹67,140 per kg levels and went on to hit intraday high of ₹67,417 per kg levels within few minutes of market opening. Why gold, silver prices are skyrocketing On r...

Vedanta shares rose on Wednesday after falling sharply in Tuesday's session Shares of Vedanta Ltd surged nearly 2% to ₹275 apiece on the BSE in Wednesday's opening deals after billionaire Anil Agarwal's Vedanta Resources Ltd on Tuesday said it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position. The company added that it prepaid all of its maturities due till March 2023.   "Vedanta Resources Limited has pre-paid all of its maturities due till March 2023 and has deleveraged by USD 2 billion in the past 11 months. Thus, it has achieved half of its USD 4 billion 3-year debt reduction commitment in the first year, ahead of its plans for this fiscal," it said in a statement. The stock had fallen about 14% in the previous session after the road block in its acquisition of state-owned Hindustan Zinc and sharp rise in US dollar that led to depreciation of Vedanta bond yield. Ear...

Shares of Infosys rose marginally to ₹1,489 apiece on the BSE in Friday's opening deals after the IT company reported a better-than-expected over 13% rise in profit in the December quarter and raised its annual sales forecast on a strong deal pipeline even as it warned of "constraints" in certain verticals amid slowing global economy. CEO Salil Parekh noted that Q3 witnessed ‘exceptionally strong growth’ but acknowledged that signs around are showing a slowing global economy.  “Despite healthy deal wins, Infosys' upward revision in FY23 growth guidance of 16-16.5% implies a soft 4Q. Slowing net hiring also reflects rising caution. We raise our FY23 -25 estimates by up to 2% and expect Infosys to deliver 13% EPS CAGR over FY23-25. Infosys strong execution favorably positions it to gain market share, strong deal bookings and consistent execution provide comfort amidst an uncertain macro. Maintain Buy with target price of ₹1,770/share," said Jefferies in a note. Des...

Asian stock markets mostly pushed higher on Thursday, ahead of U.S. consumer price data that investors hope will confirm inflation is in retreat, while the yen rose with a report Japan will next week review the side-effects of its ultra-easy policy. Following gains for Wall Street indexes overnight, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5% and touched an almost seven-month high. Japan's Nikkei wobbled 0.2% lower. Bonds were bought around the world overnight and the U.S. dollar wavered, to touch a seven-month low at $1.0776 per euro. Due at 1330 GMT, economists expect the rise in core U.S. consumer prices slowed to an annual pace of 5.7% in December, from 6% a month earlier. Month-on-month headline inflation is seen at zero. The hope is that falling inflation reduces the need for interest rate hikes, and markets have priced better-than-even odds that the Federal Reserve slows its cracking pace and hikes by 25 basis points, rather than 50, at next mont...

  Titan’s Q3FY23 business update point out that company has witnessed standalone revenue growth of 12%, while TEAL grew 58%; Caratlane grew at 50.0% YoY, driven by new buyer growth in the festive season strong marketing campaign and network expansion. Jewelry sales witnessed growth of 11.0% wherein Tanishq opened its first international store in the USA. Studded jewelry reported higher growth than overall divisions led by activations driven by higher contribution from premiumsiation. In Q3, Titan added 111 stores across divisions/ formats. “We believe the continued sales momentum across business divisions would have positive impact on the organized Jewelry," said brokerage Centrum which has remained positive on growth prospects for Titan shares and retains Buy with DCF-based target price ₹3,115 apiece. “In line with our thesis as argued in our report, we expect continued strong uptick in revenue, as the demand is expected to be robust in going forward. We believe the continued sal...

India's top valued company Reliance Industries Ltd's (RIL) shares outperformed Nifty by about 4% in 2022. Global brokerage Jefferies' sees potential earnings upside from RIL's O2C if China's demand recovers by mid-CY2023 and export duties are eliminated.  “We forecast 18% EBITDA growth in FY24E with 21% in Retail on the back of floorspace growth and 24% in Jio on tariff hike and home broadband traction. Valuation has moderated imputing little value to green energy in our view. Borrowings likely will rise," the note stated. Jefferies has maintained its Buy rating on RIL shares with a target price ₹3,100, implying more than 22% upside from the current level. The brokerage expects Jio to deliver 19% YoY rev growth led by tariff hikes in the mobile segment and continued traction in non-mobile segment. 5G pricing/adoption and its impact on market dynamics is key monitorable. The timing and quantum of next tariff hikes and Jio's response to Bharti's rural exp...

General Motors Co reclaimed the top spot in U.S. auto sales from rival Toyota Motor Corp in 2022 as it was able to better meet strong demand for cars and trucks despite industry-wide supply disruptions. Shares of GM rose 2.7% in afternoon trade on Wednesday to $34.75, after the company posted a 2.5% rise in 2022 sales to 2,274,088 vehicles, higher than Toyota's 2,108,458 units, in a closely watched race. Inventory shortages stemming from surging material costs and a persistent chip crunch had hobbled production at many automakers, keeping car and truck prices elevated. Asian brands were hit hardest. "Toyota is still among the tightest when it comes to inventory," Cox Automotive senior economist Charlie Chesbrough said. The Japanese automaker cut its full-year production target in November. Sales of its SUVs, a key segment, fell 8.6% in 2022, data on Wednesday showed. However, Toyota executives said there were some positive signs emerging, and the rate of inventory buildup...

The Indian market is expected to trade higher on Friday tracking positive global cues. The S&P BSE Sensex rose more than 200 points while the Nifty50 closed just a shade below 18,200 level on Thursday. Sectorally, buying was seen in oil & gas, metals, energy, banks and utilities while selling was seen in consumer durables, capital goods, and FMCG stocks. India VIX was down by 3.81% from 15.40 to 14.81 levels on Thursday. Volatility cooled down below 15 and made way for the bulls as we conclude the series. The Nifty50 index surpassed its key hurdle of 18,181 level in the previous trading session which is a positive sign for the bulls. The next resistance for the index is placed at 18,300-18,400 levels, suggest experts. “Nifty formed a Bullish Engulfing candle on a daily scale with long lower shadows indicating support-based buying. It has been making higher highs from the last four sessions and supports are shifting higher,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal ...

 A roller coaster ride has fewer ups and downs than what the bullion market had in the year 2022. Both the metals, gold and silver, kept the market participants on the edge. Comex Gold has made a high of $1,935 and a low of $1630, while silver, on other hand, made a high of $25 and a low of $18. On a YTD basis, both the metals have a return of -2 percent and 2 percent, respectively, on the internal bourses. According to experts, the precious metals are likely to continue sluggish momentum in the first half of 2023 as this year, making it a good opportunity for investors. Meanwhile, they expect the yellow metal to give stronger returns in the second half of 2023. “The yellow metal has gained marginally (0.5-1 percent) this calendar year in dollar terms. It has gained over 11 percent in rupee terms. The attractiveness of gold is high in a low-interest rate regime. Gold has started giving up gains since the US Fed and other major central banks started hiking rates in May 2022. The ris...