Sunday, September 13
Citigroup raised its year-end S&P 500 index target to 6,600 from 6,300, betting on corporate earnings strength fueled by benefits from President Donald Trump's tax and spending bill, it said in a note on Friday.
Australia plans to recognise a Palestinian state as early as Monday following similar moves by France, Britain and Canada, the Sydney Morning Herald reported. Prime Minister Anthony Albanese could sign off on the move after a regular cabinet meeting on Monday, the SMH reported, citing unidentified sources. Albanese's office did not immediately respond to a request seeking comment. France and Canada last month said it planned to recognise a Palestinian state, while Britain has said it would follow suit unless Israel addresses the humanitarian crisis in Palestine and reaches a ceasefire. Israel has condemned decisions by countries to support a Palestinian state, saying it will reward Hamas, the militant group that governs Gaza. Netanyahu told reporters on Sunday that most Israeli citizens we
ET Intelligence Group: A sectorwise review of the June quarter results season so far reveals that demand was subdued for majority of the sectors including automobiles, banking and finance, and information technology (IT). On the other hand, sectors including cement, metals and pharma benefitted from a combination of factors such as stable demand, lower input costs and better pricing.AutomobilesHits: Mahindra and Mahindra continued to report robust double digit growth in revenue and profit. Its tractor market share increased 50 basis points to a record 45.2%. Maruti Suzuki India clocked better than expected revenue growth driven by better product mix.Misses: Barring tractors, demand remained subdued for other segments. Bajaj Auto's earnings before interest, taxes, depreciation, and amortisa
Reserve Bank of India (RBI) Governor Sanjay Malhotra Monday said the quantum of minimum deposits for a customer account is decided solely by a bank and setting a threshold does not fall within RBI’s regulatory ambit. His comments came in response to a question on ICICI Bank’s decision on setting the minimum savings balance at Rs 50,000. “The Reserve Bank of India has left it to the banks to decide the quantum of minimum average balance,” Malhotra said on the sidelines of an event in Gujarat, responding to media queries on the move by ICICI Bank. “Some banks have capped it at Rs 10,000, others at Rs 2,000, and some have done away with it altogether. This issue does not fall under the regulatory domain.” The matter has drawn renewed attention following a report by ET last Saturda
The benchmark Nifty extended losses for the sixth consecutive week amid US tariffs, muted earnings, and foreign selling. Analysts expect weakness to persist in the short term, adding that selling pressure may continue until a decisive breakout occurs around the 24,600–24,800 levels, with the 24,000 level as key support.SUDEEP SHAH HEAD – TECHNICAL AND DERIVATIVE RESEARCH DESK, SBI SECURITIESWhere is Nifty headed this week? For the fourth week in a row, the index has formed a bearish candle with a long upper shadow. This formation signals every attempt at a rally being met with strong selling pressure, indicating a lack of conviction among bulls and a clear dominance of bears at higher levels. The zone of 24,200– 24,150 will act as important support for the index as it is the confluen
