Monday, November 30

Day: October 17, 2020

HDCF Bank Q2 takeaways: Stable asset quality, Covid provisions, new CEO & MD announcement & more
Stock News

HDCF Bank Q2 takeaways: Stable asset quality, Covid provisions, new CEO & MD announcement & more

NEW DELHI: HDFC Bank's asset quality was strong at the end of September quarter. The private lender made lesser provisions for the quarter compared with June quarter and beat Street estimates on the bottom line front. A pre-provision profit growth of 18 per cent was healthy; so were growth in deposits and advances. Here are the key takeaways from the HDFC Bank's Q2 results:3rd straight quarter of sub-20% growth Profit growth for the quarter at 18.41 per cent was the third straight quarter of sub-20 per cent growth for HDFC Bank. The lender reported a profit growth of 19.58 per cent in June and 17.71 per cent in the March quarter, data compiled from database AceEquity suggests.That said, the September quarter growth was delivered on a high base. The private lender had reported almost ...
U.S. is staring down a ‘substantial third wave’ of coronavirus cases. Here are the numbers
Business news

U.S. is staring down a ‘substantial third wave’ of coronavirus cases. Here are the numbers

A patient arrives at the Emergency entrance to Maimonides Medical Center, as the spread of the coronavirus disease (COVID-19) continues, in the Borough Park neighborhood of Brooklyn, New York, U.S., October 14, 2020.Brendan McDermid | ReutersColder temperatures are arriving in the Northern Hemisphere, and an insidious rise in new coronavirus cases in the U.S. and Europe is underway.For months, health officials have warned against this possibility, and as these trends begin to materialize, countries are weighing whether to impose stricter measures to contain the virus' spread."Our worry has been that we would see a fall wave, that we'd see a big resurgence in the fall," said Justin Lessler, an associate professor of epidemiology at the Johns Hopkins Bloomberg School of Publi...
10 Reasons Why Most Day Traders Fail
Strategy, Technical Analysis

10 Reasons Why Most Day Traders Fail

There is an infamous saying in the trading community, and you’ve likely heard about it:90% of traders lose 90% of their trading capital within 90 trading daysThat’s a high number of day traders who fail in this game. But, what are the reasons behind this poor performance of day traders?Besides the lack of quality trading education, day traders often do the same mistakes over and over again. Here are the 10 most common reasons why most day traders fail.Reason #1: They think trading is easyTrading can be easy once you have an individual set of rules and intuition while trading the markets. However, this doesn’t come overnight. Most beginner traders, when they’re just getting started with trading, think that trading is easy.All you have to do is buy when the blue line crosses ...
Will the dollar’s weakness result in Bitcoin finally breaking $12,000?
Crypto News

Will the dollar’s weakness result in Bitcoin finally breaking $12,000?

Historically, a weaker United States Dollar leads to strength across other “safe haven” assets. By analyzing the correlation, such momentum and conclusion can also be drawn with Bitcoin (BTC) and the USD.Bitcoin has gained in 2020 as the U.S. Dollar Currency Index (DXY) has been having a tough year. But will this momentum continue in the coming months? Let’s take a closer look at the charts.Bitcoin has to hold the $11,000 support level to avoid a CME gap test at $9,600BTC/USD 1-day chart. Source: TradingViewThe triangle broke upward as the majority of the markets were waiting for a climax to occur, resulting in a rally towards $11,700 and the breakthrough of the crucial $11,000-11,200 resistance zone.However, to sustain the bullish momentum, support has to hold at this $11,000-...
Gold Price Analysis: XAU/USD must break this ultimate hurdle for a spike to 1,940
Forex

Gold Price Analysis: XAU/USD must break this ultimate hurdle for a spike to 1,940

Gold is likely to open next with gains targeting 1,940 if the 50 SMA resistance is broken. An ascending parallel channel and the 100 SMA work hand in hand, providing short term support.Gold closed the week's trading at 1,900 after a minor correction from the weekly high at 1,914. The precious metal has gradually sustained a bullish price action within an ascending parallel channel. In September, support was embraced roughly at 1,860. On the other hand, the channel's resistance limits upward movements.A monthly high traded slightly above 1,930, marking gold's most significant resistance zone. The 4-hour chart displays a bullish outlook for XAU/USD. For instance, the 100 Simple Moving Average provides immediate support in conjunction with the ascending channel's lower trendline...
Prestige group agrees to sell certain office, retail assets & 2 hotels to Blackstone for Rs 12K crore
Stock News

Prestige group agrees to sell certain office, retail assets & 2 hotels to Blackstone for Rs 12K crore

NEW DELHI: Realty firm Prestige Estates Projects Ltd on Saturday said it has agreed to sell certain office, retail and hotel properties to global investment firm Blackstone -- in a big ticket real estate deal estimated at around Rs 12,000 crore. Prestige group did not disclose the deal size, but sources said that the Bengaluru-based firm has signed term sheets with Blackstone to sell commercial properties for an enterprise value of around Rs 12,000 crore.The deal is expected to be closed by end of the next month after all the necessary approvals including that of the Competition Commission of India (CCI), sources said.In a regulatory filing, Prestige on Saturday informed that it has "signed a non-binding letter of intent" with Blackstone for the sale of its interest in "certain comme...
Supreme Court will hear Trump appeal to exclude undocumented immigrants from census count
Business news

Supreme Court will hear Trump appeal to exclude undocumented immigrants from census count

President Donald J. Trump hosts a Make America Great event in Greenville, NC United States on October 15, 2020.Peter Zay | Anadolu Agency | Getty ImagesThe Supreme Court said Friday that it will hear arguments on Nov. 30 on an appeal by the Trump administration that seeks to exclude the tally of undocumented immigrants in the United States from the census data used to calculate the apportionment of congressional districts.The order came three days after the Supreme Court issued a decision that allowed the Trump administration to end field operations for the 2020 census effective that day, even as the 9th Circuit Court of Appeals still considers a pending appeal that seeks to extend the count.If the Trump administration wins the appeal regarding undocumented immigrants, stat...
Stablecoins race ahead: Fiat-backed crypto booming amid uncertainty
Crypto News

Stablecoins race ahead: Fiat-backed crypto booming amid uncertainty

Despite this year’s uncertainty that has plagued the global economy, 2020 will go down as the year of the stablecoins due to the digital sector’s tremendous growth, with new developments emerging across the board. While some attribute this growth to the booming interest in decentralized finance among crypto enthusiasts, others see it as a bullish trend that confirms the inflow of fiat currency to the crypto ecosystem.As the DeFi sector keeps growing, so too does the popularity of stablecoins, used to gain high returns from various decentralized lending projects. Stablecoins are also useful for their ability to bridge the gap between fiat currencies and digital assets. Stablecoins started off the year on a high note, as their cumulative transactional volume surpassed the $90 billion mar...
United States Net Long-Term TIC Flows came in at $27.8B, above forecasts ($25.8B) in August
Stock

United States Net Long-Term TIC Flows came in at $27.8B, above forecasts ($25.8B) in August

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if ...
Market likely to continue on a zigzag course till the yearend
Stock News

Market likely to continue on a zigzag course till the yearend

The domestic equity market corrected sharply midway through the week gone by on renewed fear of a spike in Covid-19 cases and fresh restrictions in some of the advanced countries. With the US Election Day just three weeks away, global markets have also slipped into a wait-and-watch mode. Both political parties in the US have substantive but diametrically opposite ideologies and policies to run economic affairs, which the markets are waiting to discount.In any case, there are fears that the election this time around may bring with it a prolonged litigation over the balloting system. And this will eventually delay the second round of stimulus, further postponing the next wave of liquidity which may negatively impact global markets.Indian markets too might witness profit booking in the ne...