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As the festive season of Diwali draws near, investors are keenly eyeing the future of Dalal Street for the forthcoming Samvat 2083. According to Kotak Mahindra Mutual Fund, attention should be given to high-quality stocks while keeping a diversified portfolio. Despite global uncertainties, the domestic growth outlook in India looks promising, which is beneficial for corporate profits.
Airlines are enhancing premium services amid rising demand for more comfortable travel experiences. The introduction of new premium seating options aims to attract a larger share of passengers. Airlines like American Airlines and Delta Air Lines have reported significant increases in premium revenue. Investments are being made in upgraded airport lounges and improved meal offerings for passengers.
Berkshire Hathaway reported a more than 28% decline in third-quarter profit due to its insurance businesses. The conglomerate's insurance underwriting profit fell, primarily affecting Geico's performance significantly. Additionally, Berkshire's operating earnings decreased nearly 6%, missing analyst expectations as well. Conversely, non-insurance operations showed better performance under the leadership of Greg Abel, indicating relative stability. Furthermore, Berkshire repurchased $9.6 billion in shares while increasing cash reserves to $377.4 billion.
In a remarkable week, foreign portfolio investors flocked to Indian equities, pouring over Rs 38,000 crore into the market. This influx was largely driven by a global downturn in technology stocks fueled by AI concerns. While domestic institutional investors took a step back, foreign buyers eagerly snapped up shares of top companies, pushing the Nifty index up by an impressive 7.58%.
Samvat 2083 outlook: The volatile Muhurat trading session comes after a record seven-day rally by the indices which saw BSE Sensex and Nifty50 rise over 10%. The gains over the preceding seven consecutive sessions had lifted the Sensex by 7,781.99 points, or 10.62%, and the Nifty by 2,331.5 points, or 10.27%.