Produced by: Prashanti Moktan
Designed by: Mohsin Shaikh
CIE Automotive India Ltd, ICICI Prudential Life Insurance Company Ltd, Tata Metaliks, Tata Elxsi, Bajaj Finance, L&T Technology Services and Happiest Minds Technologies are among companies that will release their Q2 earnings for July-September 2023 today (October 17)
PM Narendra Modi is set to inaugurate the third edition of the Global Maritime India Summit (GMIS) 2023 today (October 17) via video conferencing. The two-day summit will be held at MMRDA Grounds in Mumbai. Union Minister for Ports, Shipping and Waterways (PSW) and AYUSH Sarbananda Sonowal has earlier said, “GMIS 2023 is aligned with Prime Minister’s vision of ‘Atmanirbhar Bharat’ and captures a wide range of opportunities for Public Private Partnerships, with investment opportunities of Rs 10 lakh crore already identified across the sector with potential to generate more than 15 lakh job opportunities.”
“Ongoing geopolitical tensions continue to impact equity market sentiment and the key market indices, experienced marginal losses at the start of the week… However, the Midcap and Smallcap indices saw gains due to upcoming festive demand and positive Q2 results. In the upcoming period, the market is expected to stay within a certain range due to the lack of distinct trends. From a technical perspective, Nifty's strength is observed above 19,900, with crucial support at 19,500,” said Shrey Jain, Founder and CEO SAS Online
“"The benchmark index remained sideways as market participants stayed on the sidelines ahead of the scheduled speech by the Fed Chairman on Thursday. Over the near term, the index may experience volatility, with support placed at 19,700. A drop below 19,700 may take the index toward the range of 19,600-19,550. However, the "buy on dips" strategy is expected to remain the preferred approach as long as it sustains above 19,550," said Rupak De, Senior Technical analyst at LKP Securities
"The Bank Nifty remained sideways as market participants stayed on the sidelines ahead of the scheduled Fed Chairman speech later this week. In the near term, weakness may persist in the banking sector as the index has stayed below the critical short-term moving average. Over the short term, the index might maintain a negative to sideways trend as long as it remains below 44,700. Support is situated at 44,000-43,800," said Rupak De, Senior Technical analyst at LKP Securities
“We believe ongoing geopolitical conflicts and uncertainties in the global economy will likely maintain gold's status as valuable portfolio diversifiers and wealth protectors. From a technical perspective, in the short term, gold prices may witness a healthy correction. Investors should use corrections as buying opportunities. For the day, Comex spot gold has strong support at $1,888 and resistance at $1,929 (200 DEMA). The MCX Gold December future has resistance at Rs. 59,300 and support at Rs. 58,600,” said Saumil Gandhi, Senior Analyst - Commodities, HDFC Securities
“Crude oil is expected to move sideways to positive momentum in the upcoming trading session. On the weekly chart, a bullish harami candlestick pattern form, indicating a reversal of the bear trend. MCX Crude Oil Nov Fut has resistances at Rs. 7,325/7,400, and on the flip side, supports are at Rs. 7,025/6,900. NYEMX WTI crude oil has resistance at $88.70 and support at $86.80,” said Saumil Gandhi, Senior Analyst - Commodities, HDFC Securities
Tata Motors is set to launch its latest SUVs Tata Harrier facelift and Tata Safari facelift today (October 17). The bookings for the new Tata Harrier and Safari have been opened for Rs 25,000 online and at Tata’s dealerships. Tata Harrier facelift will rival the likes of MG Hector, Mahindra XUV700, top variants of Hyundai Creta and Kia Seltos. Tata Safari facelift will be going up against MG Hector Plus, Hyundai Alcazar and Mahindra XUV700
Public sector OMCs including BPCL, IOCL and HPCL revise their petrol price and diesel price daily in line with international benchmark prices and forex rates. Petrol and diesel prices remained stable today