Indian markets in dollar terms were up 1% for week as Nifty rallied 2% despite sharp drop in rupee and USDINR closing above 75. First time after August 2020, USDINR has posted weekly closing above 75 and we can expect move towards 78 in quick succession from here on. Last week, due to rupee depreciation, technology index was up 5% but from here on, we can expect major unwinding in financials if USDINR crosses 75.50 mark. For Nifty, major breakdown is seen 1.6% lower i.e. 17609. Thus, one needs to remain caution at time when Brent crude prices are at a 7-year high
Shares in Asia-Pacific slipped as investors watched for market reaction to Friday’s big miss in U.S. jobs data. U.S. nonfarm payrolls rose by just 194,000 in September, sharply lower than the Dow Jones estimate of 500,000, the Labor Department reported Friday. Meanwhile, the unemployment rate declined to 4.8%, above expectations for 5.1% and the lowest since February 2020.
Stocks in news
TCS Q2 results: Consolidated PAT rises 14% to Rs 9,624 cr, revenue up 17%
TCS to hire 35,000 more in H2FY22 after reaching 43,000 fresher hiring goal
Tesla car to be affordable in India, will cost Rs 35 lakh – Gadkari
Gland Pharma gets tentative nod from USFDA for generic Sugammadex injection
Power giant NTPC pays Rs 3,054-cr final dividend for 2020-21
NCLT admits RBI’s applications to initiate IBC proceedings against Srei
Air India returns to Tatas after group puts in winning bid of Rs 18,000 cr
Airtel to offer Rs 6,000 cashback on purchase of smartphones
Zydus Cadila gets tentative nod from USFDA to market generic acne drug
Dixon Technologies to make Acer laptops in India under PLI scheme
Reliance Retail Ventures brings 7-Eleven to India after Future exit
Oberoi Realty Q2 sales bookings jump over 2-fold to Rs 828.52 crore
Macrotech Developers sells Rs 3,000 cr worth properties in Apr-Sep; aims Rs 6,000 cr sales in H2
NCLT asks Zee Entertainment to file reply to Invesco plea by October 22
RIL to buy 40% stake in Sterling & Wilson Solar for Rs 2,850 crore, as part of its ₹75,000-crore green energy transition plan
Reliance buys Norway’s REC Solar Holdings from China’s Bluestar for $771 mn (Rs 5,792 cr)
Ultratech emerges as preferred bidder for limestone block in MP
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