Stocks in news and brokerages for select stocks that may impact the day’s trading
Mumbai: Keeping a track of market related news updates can be crucial for making informed investment decisions. Trading tips and brokerages for key stocks can also prepare you for the trading day ahead.
Here are news stories that are likely to influence market behaviour for the trading day.
*Asian markets opened in a mixed trade.
*The Dollar index was under pressure below 97 level and was attempting to stabilize above 96.40 support. US consumer index can provide volatility on DXY.
*US Markets closed marginally lower in trade ending their longest winning streak in two months. Markets approach high awaiting fed rate cuts while S&P 500 swung between gains and losses before closing slightly lower. Dow snapped six-day winning streak ending with marginal cuts of 15 points and Nasdaq Composite finished below breakeven.
*European markets traded higher with mining and automobile stocks pulling Stoxx Europe 600 index higher by 0.7 per cent. Euro-era finance ministers have met in Luxembourg.
*US treasuries were steady along with the dollar as the yield on 10-year treasuries fell by one basis point to 2.14 per cent. Germany’s 10-year yield fell by one basis point while UK’s yield rose to 0.86 per cent.
*While oil fell on weaker demand growth, US crude stocks saw a surprise rise. Brent ended 1.22 per cent lower at $61.53/bbl, WTI went down to $52.71/bbl and EIA cut its forecast for oil demand growth and US crude oil production. World is speculating if major producers will prolong supply cuts.
Stocks in news and brokerages for select stocks that may impact the day’s trading.
The firm made full payment of Rs 962 crore towards interest payable on certain NCDs. It will seek ratings upgrade from agencies and is committed to meeting all future debt servicing obligations via asset monetization plans.
The company has set up a new FMCG factory in West Bengal and will invest Rs 1700 crore in the state across multiple areas. It has also restructured its welcome hotel brand to make it more contemporary.
The service provider will end low-value post-paid plans to boost ARPU and return profitability as it will pull out Rs 199 and Rs 299 plans.
Gujarat Pipavav Port:
The port will suspend operations for 48 hours as per regulatory directions in view of a cyclonic storm which is likely to pass the Gujarat coast.
UBS on ITC: Maintains a Buy rating, with target price at Rs 375/share
UBS on RIL: Maintains a Buy rating, with target price at Rs 1500/share
UBS on Cummins India: Maintains a Sell rating, with target price at Rs 660/share
Morgan Stanley on Shriram Transport: Maintians overweight rating, with target price at Rs 1350/share
Nomura on Tata Motors: Maintains a neutral rating, with a target price at Rs 187/share
UBS on Tech Mahindra: Maintains neutral rating, with target price at Rs 830/share
JP Morgan on United Spirits: Maintains overweight rating, with target price at Rs 620/share from earlier Rs 650/share
Edelweiss on AU Small Finance Bank: Initiated coverage with ‘buy’ rating, with target price at Rs 880/share