Nifty Consolidates Ahead of Major Earnings
The Indian stock market is witnessing a mixed trend, with the Nifty 50 trading near 24,800 and the Sensex trading flat. The GIFT Nifty was trading near 24,900 early Friday, indicating a positive start for the Indian markets. The benchmark indices on Wednesday snapped their eight-day losing streak and ended in the green.
Q1 Results: Indian Banks Witness Growth
Total business as on Sept 30 rose 11.5% at Rs 1.02 lakh crore. Total Advances as on Sept 30 were up 10.5% at Rs 46,996 crore. Total Deposits as on Sept 30 were up 12.3% at Rs 55,421 crore. CASA as on Sept 30 was up 9.3% at Rs 15,163 crore.
Nifty 50 Gainers and Losers
The Nifty 50 was led by gains marked by Tata Steel, Hindalco, JSW Steel, and Kotak Mahindra Bank. Tata Steel logged gains of over 4% as of 11:51 a.m. On the other hand, the index was dragged by Max Health, which declined over 4% and SBI Life that marked over 1% decline.
Reserve Bank of India Eases Acquisition Financing Norms
The Reserve Bank of India has opened the doors towards acquisition financing for domestic banks lending to Indian corporates. The move was preluded by a bevy of bankers seeking a free hand. The regulatory easing on acquisition financing was likely owing to the intense competition posed by private credit players, according to a person with direct knowledge of the matter.
Morgan Stanley Sees Major Shift in India’s Growth Cycle
Morgan Stanley believes investors are overlooking a major shift in India’s growth cycle, arguing that both earnings and market peaks lie ahead. Reflecting this view, the brokerage has reoriented its portfolio strategy, tilting toward domestic cyclicals over defensives and export-driven sectors, and moving to an overweight position on financials, consumer discretionary, and industrials.
Tata Investment Corp. Surges Over 9%
The shares of Tata Investment Corp. surged over 9% in trade to Rs 11,606. The scrip had risen as much as 11.9% to Rs 11,847 apiece during trade so far. These gains compare to a 0.15% decline in the Nifty 50 as of 10:53 a.m.
Indian investors and traders can stay ahead of the curve by keeping an eye on the latest stock market news and trends. With the Nifty 50 trading near 24,800, it will be interesting to see how the market moves in the coming days. Get the latest stock market news and updates to make informed investment decisions.
Top Stocks in Focus
Tata Motors, IRFC, and Tata Investment are some of the top stocks in focus today. These stocks have been making headlines in recent times, and investors are keenly watching their performance. Get expert stock market tips and advice to make the most of your investments.
Indian Stock Market Outlook
The Indian stock market is expected to remain volatile in the coming days, with several major events and announcements lined up. Investors are advised to stay cautious and keep an eye on the latest market trends and news. Get in-depth stock market analysis and insights to make informed investment decisions.
