Investors are starting to consider the impact of the 2024 U.S. presidential election on markets. The proposals and policies of Joe Biden and Donald Trump are expected to sway asset prices. The divided Congress adds to the uncertainty. Other market drivers include artificial intelligence and Federal Reserve’s monetary policy. The S&P 500 index is performing well. Historical trends suggest that S&P 500 performance ahead of the primary may indicate the election outcome. The market is also monitoring economic data to gauge the Federal Reserve’s actions.
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A special all-women house of Lucknow Municipal Corporation (LMC) proposed to reserve space for women in parking lots. The house was organized on the occasion of International Women’s Day on Thursday. Mayor Sushma Kharkwal, along with 44 present and former women corporators, attended the meeting. Several proposals were tabled during the meeting to provide facilities for women in the city, including the creation of dedicated parking spots for women and special shopping zones for women in the city’s markets.
Markets managed to reclaim record highs after a long and volatile week. SMS Pharma’s API manufacturing facility in Andhra Pradesh undergoes inspection by the European Directorate for the Quality of Medicines & Healthcare. Patel Engineering secures a contract valued at Rs 525.36 crore. HG Infra receives a project worth Rs 447 crore from South Central Railway. Tata Sons commits to upholding the legacy of its founder Jamsetji Tata. Vedanta plans to deleverage $3 billion debt over the next three years. SJVN Green Energy bags a 200 MW solar project. RIL and Walt Disney Company deal could create a media giant. NMDC reports a 13% jump in iron ore production.
The demand for warehousing has shown resilience marked with growth in lease rentals for logistic spaces across top eight markets during the half year ended September. Total 23 million sq ft space transacted in the first half ending September across the top eight markets represents a 10% on-year drop in volume.
Investors are taking stock of higher rates, stronger dollar and flare-ups in oil prices
Radhika Gupta, MD & CEO of Edelweiss AMC, discusses the factors leading to a potentially good decade for corporate India and highlights the balanced and multi-sectoral nature of the Indian opportunity. She also talks about the changing consumer trends, the growth of the digital economy, credit access, and the positive earnings season with broad-based resilience of corporate earnings.
Motilal Oswal Financial Services’ chairman Raamdeo Agrawal shares his insights on the current market trends, Indian equities, market valuations, state and general elections, bank stocks, IT stocks, and new-age businesses. He believes that the market is currently in a healthy correction phase and that corporate earnings have surprised. However, valuations are not very cheap, and the market is well-priced. Agrawal also discusses the uncertainty around elections and its impact on foreign investment and the performance of bank stocks and IT stocks. He further talks about the challenges and opportunities in the IT sector, as well as the future prospects of new-age businesses.
