123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Stock Market Today: High Impact Of Us Developments

Profile Picture
By Author: Bizzbuzz
Total Articles: 74
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Polling for the U.S. presidential election is set for November 5, coinciding with the U.S. Federal Reserve Committee meetings on November 6 and 7. These events are expected to significantly influence foreign investment trends, potentially impacting domestic stock markets this week. Domestically, corporate earnings will play a crucial role in shaping investor sentiment. Analysts anticipate that the gains in standard indices for the new financial year, which began on the 1st, may be moderate, attributed to lackluster corporate results for two consecutive quarters. Fund managers forecast Nifty-50 companies’ net profits may grow by 5-7% in 2024-25. Projections for the Nifty-50 index vary, with some analysts predicting it could dip below 24,000 points, while others suggest limited gains but expect resistance around 24,500. Here’s a breakdown of analyst insights by sector:
• IT Stocks: IT shares may face challenges ahead of U.S. election results, with some brokerages suggesting that a Trump victory could be favorable for the markets.
• Telecom: Telecom stocks are expected to follow the benchmark indices, with revenue ...
... growth anticipated in the coming quarters due to June’s tariff hike.
• Oil: Oil company shares may stagnate, impacted by Middle Eastern developments and international oil prices.
• Metals: Metal stocks could outperform, driven by strong results from companies such as Tata Steel and Jindal Steel, whose earnings are due this week.
• Pharmaceuticals: Pharma stocks could be volatile due to international market sentiment, with results from Dr. Reddy’s (5th), Mankind Pharma (5th), Apollo Hospitals (6th), Lupin (7th), and Divi's Labs (9th) expected to affect these shares.
• Machinery: Analysts maintain a positive outlook on machinery companies, but high valuations and subdued sentiment may limit movement. One brokerage has recommended BHEL with a target price of ₹425.
• FMCG: FMCG stocks could face pressure amid concerns over rural and urban demand. One brokerage has reduced its target price for Procter & Gamble Hygiene by 4% to ₹17,800.
• Cement: Slowing earnings growth, weak demand, and diminished pricing power might cap gains in cement stocks. However, an increase in government infrastructure spending is anticipated to drive demand by March.
• Banking: Bank Nifty may trade within a range with a positive bias, with support around 51,000-51,150 and resistance at 52,580. SBI’s results, expected on Friday (8th), will be closely watched.
• Automobiles: Vehicle stocks may face a dip following weaker September quarter results and lukewarm October sales figures.
Board Meetings Today: Key companies holding board meetings today include Amararaja Energy and Mobility, Gland Pharma, Sai Silks Kalamandir, IRCTC, Andhra Paper, Raymond, IRFC, ABB India, Sundaram Finance, Exide Industries, KEC International, Hutson Agro Products, Bata India, Procter & Gamble Health, and JK Paper.
Read more in Bizzbuzz
#EarningsReport #BusinessNews #CompanyResults #QuarterlyUpdate #USElections2024 #Vote2024 #PresidentialElections #ElectionDay

More About the Author

Bizz Buzz, launched on November 18, 2020, is the ambitious digital-first business daily from Hyderabad Media House Limited

Total Views: 13Word Count: 430See All articles From Author

Add Comment

Business Articles

1. Unveiling The Material Characteristics Of Plastic Parts
Author: adam.xu

2. Top 5 Beach View Resorts In Chennai For A Memorable Getaway
Author: greenmeadows resort

3. Relationship Counselling Den Haag Brings The Best Chance To Understand Each Other’s Needs!
Author: Angelika Matthias

4. Web Development Company: Guide For Hiring The Best
Author: Sagar Tech

5. Make A Business Website To Get Started Online
Author: Sagar Tech

6. Elevate Your Software Quality With Agile Advisors: Premier Software Testing Consultancy In Dubai, Uae
Author: kohan

7. Affordable Polyester Pleated Mesh From Top Manufacturers
Author: pavitra

8. Empowering Sustainable Development: Agile Advisors As Your Trusted Leed Certification Consultant In Dubai And Uae
Author: kohan

9. Buy Cats Eye Gemstone Online In Ahmedabad
Author: rishabhjains

10. Why Data Destruction And Sanitisation Are Important
Author: Destruction and Sanitisation

11. Stock Market Update: शेयर बाजार में लगातार चौथे हफ्ते बढ़त: क्या तेजी बरकरार रहेगी? जाने इस हफ्ते किन महत्वपूर्ण पहलुओं पर ध्यान देना चाहिए
Author: M Ratlami

12. Perfect Happy New Year Gift For Your Girlfriend Thoughtful Ideas For 2024
Author: MyFlowerTree

13. China Valmax Valve Co., Ltd
Author: China Valmax Valve Co., Ltd.

14. Mastering Clipping Path In Photoshop: A Guide To Precision Editing
Author: Sam

15. Expert Emergency And Cosmetic Dental Care Services For Families And Individuals In St. Louis
Author: Jessica Williams

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: