In Europe, shares lost ground as pessimism over economic
growth and loan demand in the region took a toll on bank
stocks. European equities had staged a short-lived rally on
Thursday after ECB chief reiterated plans to revive the
struggling euro zone by pumping more money into the
economy. The pan-European FTSEurofirst 300 index fell
0.5% to close at 1,344.74.
Wall Street
Wall Street ended little changed on Friday, though the Dow
and the S&P 500 eked out record closing highs and the
three major indexes all managed to post gains for the
week.
MSCI's all-country world index .MIWD00000PUS, a gauge of
stock performance in 45 countries, see-sawed around
break-even, suggesting equities were poised for further
gains. The Dow Jones industrial average .DJI closed up
19.46 points, or 0.11%, to 17,573.93. The S&P 500 .SPX
rose 0.7 points, or 0.03%, to 2,031.91 while the Nasdaq
Composite .IXIC fell 5.94 points, or 0.13 percent, to
4,632.53.
MACRO NEWS
US job growth increased at a fairly brisk clip in October
and the unemployment rate fell to a fresh 6-year low of
5.8%, underscoring the economy's resilience in the face
of slowing global demand.
Bank of Baroda 's Q2net profit fell 5.5% yoy to Rs 1,104
cr due to higher provisions and tax rate, and slow
growth in non-interest income. Profit in the year-ago
period was Rs 1,168 cr. NII expended, climbed 17.5% on
yearly basis to Rs 3,401cr from Rs 2,895cr while other
income grew by 1.8% to Rs 991.65cr during same period.
STOCKS IN NEWS
Jet Airways board approves raising up to $300 million
via NCDs
DLF gets tribunal nod to redeem MF investments.
OBC Cuts interest rates on term deposits less than Rs 1
crore by 25-50 bps w.e.f November 10
Bharti Airtel calling off deal with Loop modestly credit
negative for company
Crompton Greaves seeks shareholders nod to hike FII
investment limit to 100 percent from 24 percent.
Sintex Ind allots 8.36 lakh shares to FCCB holders.
COMMODITY ROUNDUP
Gold prices fell by 0.95% to Rs 25,220 per 10 grams in futures trading yesterday as speculators trimmed positions in
tandem with a weak global trend as a strengthening dollar
curbed demand for the precious metal. At the MCX gold for
delivery in December fell by Rs 241, or 0.95%, to Rs 25,220
per 10 grams in a business turnover of 3,400 lots. The metal
for delivery in February next year declined by Rs 238, or
0.93%, to Rs 25,415 per 10 grams in 110 lots. Offloading of
positions by speculators in line with a weak global trend
where gold held at over four-year lows as surge in dollar
curbed demand, mainly kept pressure on gold prices at futures trade. Besides, a weak trend at the domestic spot
markets also weighed on prices.
Currency Market Round up
The Indian rupee fell to a three-week low on Friday, continuing to track falls in emerging market currencies as sentiment turned cautious ahead of key U.S. jobs data that could
help determine the timing of any U.S. interest rate hikes.
Unlike domestic bonds and shares, the rupee fell during the
week tracking global gains in the dollar due to fears the Federal Reserve would move earlier than expected to tighten
monetary policy. The rupee fell 0.45 percent against the
dollar in the holiday-shortened week, posting its second
consecutive weekly fall. The partially convertible rupee
closed at 61.6425/6525 per dollar, weaker from Wednesday's close of 61.41/42, after earlier falling to as much as
61.6750, its lowest since Oct. 17. The market was closed on
Thursday for a local holiday. Falls came after the dollar
firmed to near a 4-1/2 year high against a basket of currencies on Friday.
Gravita ResearchPrivate Limited is awarded with the Service Excellence Award in the financial services sector for providing consultation regarding Capital Stock Market of India and other global markets. Our team having experienced researchers offer recommendations on equity (cash), derivatives, commodity and currency market who deliver updates on the sectors like – Stocks tips, derivative trading, commodity trading, etc
Our research Team give recommendations on the following -
- equity (cash)
- derivatives
- commodity and
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growth and loan demand in the region took a toll on bank
stocks. European equities had staged a short-lived rally on
Thursday after ECB chief reiterated plans to revive the
struggling euro zone by pumping more money into the
economy. The pan-European FTSEurofirst 300 index fell
0.5% to close at 1,344.74.
Wall Street
Wall Street ended little changed on Friday, though the Dow
and the S&P 500 eked out record closing highs and the
three major indexes all managed to post gains for the
week.
MSCI's all-country world index .MIWD00000PUS, a gauge of
stock performance in 45 countries, see-sawed around
break-even, suggesting equities were poised for further
gains. The Dow Jones industrial average .DJI closed up
19.46 points, or 0.11%, to 17,573.93. The S&P 500 .SPX
rose 0.7 points, or 0.03%, to 2,031.91 while the Nasdaq
Composite .IXIC fell 5.94 points, or 0.13 percent, to
4,632.53.
MACRO NEWS
US job growth increased at a fairly brisk clip in October
and the unemployment rate fell to a fresh 6-year low of
5.8%, underscoring the economy's resilience in the face
of slowing global demand.
Bank of Baroda 's Q2net profit fell 5.5% yoy to Rs 1,104
cr due to higher provisions and tax rate, and slow
growth in non-interest income. Profit in the year-ago
period was Rs 1,168 cr. NII expended, climbed 17.5% on
yearly basis to Rs 3,401cr from Rs 2,895cr while other
income grew by 1.8% to Rs 991.65cr during same period.
STOCKS IN NEWS
Jet Airways board approves raising up to $300 million
via NCDs
DLF gets tribunal nod to redeem MF investments.
OBC Cuts interest rates on term deposits less than Rs 1
crore by 25-50 bps w.e.f November 10
Bharti Airtel calling off deal with Loop modestly credit
negative for company
Crompton Greaves seeks shareholders nod to hike FII
investment limit to 100 percent from 24 percent.
Sintex Ind allots 8.36 lakh shares to FCCB holders.
COMMODITY ROUNDUP
Gold prices fell by 0.95% to Rs 25,220 per 10 grams in futures trading yesterday as speculators trimmed positions in
tandem with a weak global trend as a strengthening dollar
curbed demand for the precious metal. At the MCX gold for
delivery in December fell by Rs 241, or 0.95%, to Rs 25,220
per 10 grams in a business turnover of 3,400 lots. The metal
for delivery in February next year declined by Rs 238, or
0.93%, to Rs 25,415 per 10 grams in 110 lots. Offloading of
positions by speculators in line with a weak global trend
where gold held at over four-year lows as surge in dollar
curbed demand, mainly kept pressure on gold prices at futures trade. Besides, a weak trend at the domestic spot
markets also weighed on prices.
Currency Market Round up
The Indian rupee fell to a three-week low on Friday, continuing to track falls in emerging market currencies as sentiment turned cautious ahead of key U.S. jobs data that could
help determine the timing of any U.S. interest rate hikes.
Unlike domestic bonds and shares, the rupee fell during the
week tracking global gains in the dollar due to fears the Federal Reserve would move earlier than expected to tighten
monetary policy. The rupee fell 0.45 percent against the
dollar in the holiday-shortened week, posting its second
consecutive weekly fall. The partially convertible rupee
closed at 61.6425/6525 per dollar, weaker from Wednesday's close of 61.41/42, after earlier falling to as much as
61.6750, its lowest since Oct. 17. The market was closed on
Thursday for a local holiday. Falls came after the dollar
firmed to near a 4-1/2 year high against a basket of currencies on Friday.
Gravita ResearchPrivate Limited is awarded with the Service Excellence Award in the financial services sector for providing consultation regarding Capital Stock Market of India and other global markets. Our team having experienced researchers offer recommendations on equity (cash), derivatives, commodity and currency market who deliver updates on the sectors like – Stocks tips, derivative trading, commodity trading, etc
Our research Team give recommendations on the following -
- equity (cash)
- derivatives
- commodity and
Keep track our offers and services by FREE TRIAL 9993716323,8827706187
Visit Our SIte --