StockMarket

Trump calls stock sell-off 'a correction,' says Federal Reserve is 'crazy'
US President Donald Trump said that Wednesday's stock market sell-off was in fact a long-awaited "correction," and that the Federal Reserve, which has been raising U.S. interest rates, had gone "crazy."

Trump's use of the word correction to describe the sell-off could be significant. A stock market correction is defined as a decline of at least 10

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Stock market update: Metal stocks crack up to 6%; Tata Steel, Hindalco, Vedanta top drag
NEW DELHI: Metal - mining stocks were among the top casualties during Thursday's sell-off.

The Nifty Metal index was trading 4.06 per cent down at 3,299 around 10:30 am with all components in the red.

Jindal Steel - Power (down 6.38 per cent), Tata Steel (down 5.47 per cent), Hindalco Industries (down 4.67 per cent), Vedanta (down 4.24

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Rafale controversy continues to haunt Modi government
Rafale is proving to be the proverbial albatross around PM Modi’s neck. In what comes as a big embarrassment to the BJP-led NDA government, the Supreme Court on Wednesday sought details of the decision-making process that preceded the mega fighter-jet deal.

Clarifying that it is not interested in knowing pricing and technical parameters, the apex

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Over 235 stocks hit 52-week lows on NSE
NEW DELHI: Over 235 stocks, including Bharti Airtel, Andhra Sugars, Asahi India Glass, Bharat Road Network and BSE, hit 52-week lows on NSE during Thursday's session.

Castrol India, Central Bank of India, D.B.Corp, Bank of Maharashtra, Max Financial Services, Sagar Cements, Tata Communications, Unitech, Vivimed Labs, Welspun Enterprises and Zodiac

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SpiceJet, Jet, IndiGo rally on ATF excise duty cut
NEW DELHI: Aviation companies, including SpiceJet, Jet Airways and InterGlobe Aviation, defied overall market sentiment on Thursday as they rose on the excise duty cut on jet fuel.

Excise duty on aviation turbine fuel (ATF) has been reduced to 11 per cent from 14 per cent with effect from October 11, a notification issued by the finance ministry

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Stock market crash: Investors lose Rs 4 lakh crore in wealth in 5 minutes
NEW DELHI: A sharp plunge in domestic stocks on Thursday morning wiped off Rs 4 lakh crore of investor wealth within five minutes.

Data showed that the combined market capitalisation of all BSE-listed companies got eroded to Rs 134.38 lakh crore in the initial trades, data available with BSE suggested.

This is against a market value of Rs

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Chinese stocks tumble to multi-year lows after Wall St rout
HONG KONG: China's benchmark Shanghai Composite Index dived to near four-year lows on Thursday, joining a global equities rout after a tech sell-off battered Wall Street overnight.

Investors sold across the board amid a confluence of factors, including rising interest rates in the United States, a heated Sino-U.S. trade battle as well as IMF

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Share market update: Nifty PSU Bank index plunges nearly 5%; SBI top casualty
NEW DELHI: The Nifty PSU Bank index was trading 4.58 per cent down at 2,690 around 10:20 am on Thursday with all components in the red.

State Bank of India (SBI) (down 5.08 per cent), Union Bank of India (down 4.95 per cent) and Central Bank of India (down 4.85 per cent) were the top losers in the PSU bank index.

Bank of India (down 4.73 per

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Sell Mahindra Mahindra, target Rs 725: Manas Jaiswal
Manas Jaiswal of manasjaiswal.com has a sell call on Mahindra - Mahindra Ltd. with a target price of Rs 725. The current market price of Mahindra - Mahindra Ltd. is Rs 729.0 Time period given by analyst is Intra Day when Mahindra - Mahindra Ltd. price can reach defined target. Manas Jaiswal recommended to keep stoploss at Rs 786 Mahin
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15% more correction in Nifty! D-Street veteran, brokerages see more pain ahead
NEW DELHI: If you thought the painful correction seen in domestic equities over the past few days has wiped off all the froth, you may be in for surprise.

Market veteran Saurabh Mukherjea, often cited as among the few analysts who had predicted the 2008 global financial crisis, says the India market has 10-15 per cent more downside before it

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Why Sensex crashed a 1,000 points: Global selloff, rupee other factors
Stocks fell off the cliff today right at the start as benchmark indices plunged over 2 per cent on a deepening global selloff.

The BSE Sensex plunged over 1,000 points to 33,723.53 while the 50-share NSE Nifty went below 10,200-mark.

As many as 45 stocks on the Nifty index were trading in the red, with Bharti Infratel, Infosys, TCS, HCL

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Manas Jaiswal of manasjaiswal.com has a sell call on ACC Ltd. with a target price of Rs 1420.0 . The current market price of ACC Ltd. is Rs 1465.8 Time period given by analyst is Intra Day when ACC Ltd. price can reach defined target. Manas Jaiswal recommended to keep stoploss at Rs 1486.

ACC Ltd., incorporated in 1936, is a largecap company with

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Fed's Bullard hopes for more trade deals like NAFTA 2.0 to reduce uncertainty
NUSA DUA, Indonesia, - More trade deals like the recently concluded agreement between the United States, Canada and Mexico, would help reduce uncertainty related to trade and economic growth, St. Louis Federal Reserve Bank President James Bullard said on Thursday.

The pact, called North American Free Trade Agreement (NAFTA) 2.0, struck earlier

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10 stocks that surged despite a strong sell-off

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Buy HDFC Bank, target Rs 2,452: Edelweiss Financial Services
Edelweiss Financial Services has a buy call on HDFC Bank with a target price of Rs 2,452.

The current market price of HDFC Bank is Rs 1,966.3.

Time period given by the brokerage is 'Long Term' when HDFC Bank price can reach the defined target.

Investment hypothesis by Edelweiss:RoA is expected to improve on back of the following factors a)

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IMF's Lagarde warns against trade, currency wars, urges fix to global rules
NUSA DUA, INDONESIA: International Monetary Fund Managing Director Christine Lagarde on Thursday warned countries against engaging in both trade and currency wars, saying these would hurt global growth and imperil "innocent bystanders."

Formally launching the IMF and World Bank annual meetings on the Indonesian resort island of Bali, Lagarde urged

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MUMBAI: Indian graphite electrode makers offer the purest play in the sector, said Bank of America Merrill Lynch (BofAML) in a note on Wednesday, initiating coverage on HEG and Graphite India with ‘buy’ ratings.

Stocks of both compenies ended up at their daily upper circuit levels following the report.

Shares of HEG ended up 20 per cent at Rs

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Inflation expectations are still giving the Fed a green light
Inflation may be gradually climbing higher, but Federal Reserve Chairman Jerome Powell’s guiding light – inflation expectations – look like they are still well anchored. Expectations for inflation one and three years in the future were steady in September at 3 per cent, according to the Federal Reserve Bank of New York’s Survey of Consumer Expecta
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Nikkei suffers biggest daily drop since March amid global rout
TOKYO: Japan's Nikkei tumbled to a one-month low on Thursday and suffered its biggest daily decline since March, hit by a sell-off in global shares, while tech firms and industrial equipment makers underperformed.

Contributing to Japan's fall was a profit forecast cut by industrial equipment maker Yaskawa Electric Corp, which dragged down shares

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Garden Reach lists at 13% discount to issue price
MUMBAI: Garden Reach Shipbuilders - Engineers (GRSE) made a tepid debut on the bourses Wednesday, with stocks falling to a 13 per cent discount to their issue price in the worst IPO listing in six months..

The stock, which got listed at Rs 102.50 on NSE and Rs 104 on BSE, ended at Rs 105.10. The issue price was Rs 118. This is the worst debut

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Tata Motors up over 2%; should you check it out
Shares of Tata Motors were over 2 per cent higher early Wednesday after the company reported a 6 per cent rise in global sales last month.

The figure stood at 1,23,577 units, including those of Jaguar Land Rover (JLR). The company had sold 1,16,419 units in September 2017.

The scrip was 2.09 per cent up at Rs 188.10 at around 9.30 am while the

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Share market update: Nifty Realty index dips 2%; Prestige Estates slumps 5%
New Delhi: The Nifty Realty index was trading 2.04 per cent down at 204.25 around 11:56 am on Thursday with most of its components trading in the red.

Shares of Prestige Estates Projects (down 5.24 per cent), DLF (down 4.25 per cent) and Unitech (down 4.00 per cent) were the top losers in the realty pack.

Godrej Properties (down 2.54 per cent),

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Dilip Buildcon stock rallies on Coal India order win
MUMBAI: Dilip Buildcon shares rallied nearly 9 per cent intraday on Wednesday after company announced getting order for a new overburden removal contract mining project valued at Rs 1,000 crore from Coal India. The company, according to analysts is expected to grow at a CAGR of 28 per cent in the next two years with a strong order book.

About 15

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Stock market update: NBFCs trade mixed; Magma Fincorp, DHFL surge
NEW DELHI: Shares of non-banking financial companies (NBFCs) were trading mixed in Wednesday's session.

Shares of GCM Capital Advisors (up 20 per cent), HB Portfolio (up 17.81 per cent) and Ganges Securities (up 17.41 per cent) surged up to 20 per cent in the NBFC space.

Williamson Magor - Company (up 13.06 per cent), Magma Fincorp (up 12.93

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PMS run by Porinju, Maheshwari top fund houses all bled in September
On Dalal Street, the bears have not spared even the most experienced investors.

As the tide turned in the market after a long bull run, funds managed by portfolio management services (PMS) of renowned investors took a big hit in September.

BSE Sensex, BSE Midcap index and BSE Smallcap index slipped 6.25 per cent, 12.54 per cent and 16 per cent,

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Sensex cracks 1,000 points, Nifty below 10,200; India VIX spikes 15%
NEW DELHI: Domestic equity benchmarks Sensex and Nifty suffered massive opening losses on Thursday, mirroring weakness in global stocks after a scary selloff in US stocks overnight.

A sharp selloff in the US stocks sent shivers down investors spine across markets globally as Asian markets sank after Wall Street plummeted.

Asian share markets sank

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Stock market update: NBFCs trade mixed; Magma Fincorp, DHFL surge
NEW DELHI: Shares of non-banking financial companies (NBFCs) were trading mixed in Wednesday's session.

Shares of GCM Capital Advisors (up 20 per cent), HB Portfolio (up 17.81 per cent) and Ganges Securities (up 17.41 per cent) surged up to 20 per cent in the NBFC space.

Williamson Magor - Company (up 13.06 per cent), Magma Fincorp (up 12.93

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Commodity Outlook: Gold may have a tough time near Rs 31,500
Gold prices made the most of an uptick in demand today as they ruled firm.

The demand for precious metals came in mostly from jewellers, retailers and investors.

However, industrial metals were in the red as a gloomy macro-economic outlook stoked concerns about demand growth.

How should you play in commodities today We bring you a guidance on

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10 stocks that cracked the most on BSE in early trade
NEW DELHI: Domestic equity benchmarks Sensex and Nifty suffered massive opening losses on Thursday, mirroring wekness in global stocks after a scary sell-off in US stocks overnight.

The NSE Nifty index was trading 307 points down at 10154, while BSE Sensex was down 1029 points at 33,732.

Only ONGC, with a gain of 1.92 per cent, was up in the

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Indian companies plan payment in roubles to get around US sanctions
Indian businesses are working out alternate payment mechanisms for trade with Russia, including payment in roubles via foreign branches of Russian banks, to get around the US-imposed sanctions on that country.

This follows a successful pilot under which Russian diamond miner Alrosa accepted payment in roubles from an Indian diamantaire.

Alrosa is

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