India’s stock benchmarks opened little changed, as gains in information technology stocks were offset by losses in dragged by consumer durables and auto stocks, amid concerns over impact of faster tapering, omicron variant and geopolitical tensions following U.S. sanctions on China.
Kotak Mahindra Bank
HDFC AMC On Track For The Longest Losing Streak In Over A Year; RSI Below 30
- HDFC Asset Management Co. is lower for the seventh straight day, on track for the longest losing streak since the period ended Sept. 24, 2020.
- HDFC AMC has lost a total of 7.3% during the streak while the S&P BSE Sensex Index fell 0.1%. Today, the stock fell 1.2% to Rs 2,735.50.
- The relative strength index on the stock was 25, suggesting it may be oversold.
Investors may turn to gold this Diwali as volatility hits equities
Volatility in the stock market may help turn the attention of Indian investors to gold in the upcoming Dussehra and Diwali festive period, said bankers and analysts.
Rupee Advances Against Dollar, Hits 6-Week High
Gold Silver Reports (GSR )- Rupee Advances Against Dollar, Hits 6-Week High – Rupee rose 16 paise to six week high of 68.26 per dollar after the central bank maintained a neutral stance at its policy review on Wednesday, much to the relief of many investors.
The MPC’s decision to hike repo rate by 25 basis points while retaining the neutral stance reiterates the view of a shallow rate-hike cycle amid increasing global and domestic uncertainties, according to analysts at Kotak Mahindra Bank.
Hero MotoCorp Share Price Rises On June Sales, Motorcycle Price Hike
Gold Silver Reports (GSR) – Hero MotoCorp Share Price Rises On June Sales, Motorcycle Price Hike – Shares of the Delhi-based two-wheeler maker rose as much as 2 percent to ₹ 3,485 after it reported June sales and hiked prices of its motorcycles and scooters to partially offset higher input costs.