Shares of Titan will be in focus as the company will announce its quarterly numbers for the July-September 2024 period later today. The company is expected to see a decline in profitability in the second quarter mainly on account of inventory loss due to customs duty cuts in the reporting period. Net profit for the quarter is likely to fall up to 27% year-on-year in Q2.
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US markets ended lower on Monday to start the new week on a risk-off note as uncertainties over the US Presidential Election outcome and the Fed rate decision kept investors on the edge. The Dow Jones fell over 250 points, recovering from the lows of the day as at one point, the index was down over 400 points. The S&P 500 and Nasdaq Composite swung between gains and losses.
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The Nifty Oil and Gas index fell 2.5% on Monday, led by a selloff in oil marketing companies (OMCs) due to uncertainty around falling crude prices, US presidential elections, and fear of global oversupply. Indian Oil, Hindustan Petroleum, and Bharat Petroleum declined 4.14%, 3.13%, and 3.14%, respectively, amid concerns over refining margins and marketing margins.
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