Today’s Market News :
GiftNifty showing small gap-down opening to flat opening
Clear buying in the chart, indicating buyers are present but in huge profit, making it difficult to target them directly
Asian equities opened with the flat note, however no major move has seen on the news related to rate cuts of prime loans from China. US equity index futures are trading in the green zone while focus squarely on a string of key earnings from the technology sector and more that are due in the coming days.
Waaree Energies is set to launch its IPO with a valuation exceeding Rs 4,300 crore, aiming to raise Rs 4,000 crore through a combination of fresh equity and an offer-for-sale.
* The IPO opens for public subscription today, with a price band set between Rs 1,427 and Rs 1,503 per share, and a grey market premium indicating strong demand.
HDFC Bank reported a 5.3% increase in net profit to 16,821 crore for the September quarter, exceeding analyst expectations.
* The bank’s net interest income rose by 10% year-on-year, supported by a focus on reducing borrowings and improving the credit-deposit ratio.
* Despite a slight deterioration in asset quality, HDFC Bank’s total deposits grew over 15%, surpassing ₹25 lakh crore, indicating strong financial health.
The NSE will conduct its Diwali Muhurat trading on November 1, 2024, from 6:00 PM to 7:00 PM, marking the beginning of the Hindu calendar year Samvat 2081.
* Historically, this special trading session has yielded positive returns, with the BSE Sensex closing higher in 13 of the last 17 sessions, although trading volumes tend to be low.
