ChatGPT, acting as Nostradamus, predicts a surprise outcome for the 2024 US election. Neither Trump nor Harris will win. An unexpected candidate will become president. The AI predicts unrest and violence around the election results. It also suggests Harris will remain influential even if she loses. Trump will face legal battles but remain a force in US politics.
New-age tech companies in India, despite grand IPOs, are facing a harsh reality in the stock market. Many, including Paytm and Nykaa, have seen their stock prices plummet, highlighting investor concern over profitability. While Zomato has shown a turnaround, upcoming IPO hopeful Swiggy's path to profitability remains a key concern for potential investors.
Exide Industries witnessed a 13.66% dip in consolidated profit for the September quarter, despite a rise in revenue. The company's profits were impacted by increased expenses, even as demand in sectors like two-wheeler, four-wheeler, and industrial-UPS remained strong.
October can often be a volatile month due to various factors like earnings reports and economic data releases. The volatility we've witnessed this October is largely driven by heightened geopolitical tensions, particularly the ongoing conflict in the Middle East.
Deepak Shenoy, Founder of Capital Mind, discusses the Indian automobile sector and Reliance. He sees potential in two-wheeler manufacturers like TVS and Hero MotoCorp. Shenoy maintains his position in Mahindra & Mahindra, citing its diversified portfolio. He expresses concerns about Tata Motors due to geopolitical factors and Maruti Suzuki due to recent sales figures.
The second quarter earnings season is in full swing, with 63 companies, including prominent names like Dr Reddy's, Titan, and Mankind Pharma, set to release their July-September 2024 quarter results today.
Indian benchmark indices Sensex and Nifty experienced significant drops, driven by losses in Reliance Industries and banking stocks. Analysts suggest investors monitor IRCTC's upcoming earnings for potential movement, while IRFC needs to hold above key levels for bullish momentum. Raymond, despite initial losses, showed resilience, with its future trajectory depending on upcoming earnings.
Gold prices held steady on Tuesday as investors awaited the outcome of the U.S. presidential election and the Federal Reserve's policy meeting. The U.S. presidential race remains tight, while the Fed is widely expected to cut interest rates. Gold is seen as a safe-haven asset during times of uncertainty.
Some of the so-called "Trump trades" unwound after a recent poll showed Harris, the Democratic vice president, leading in Iowa, sparking a drop in the U.S. dollar, Treasury yields and bitcoin. Trump Media & Technology Group closed up 12.37%, bouncing back from early losses of nearly 6%.
