KEY HIGHLIGHTS
Economic Data Releases And Events For Oct 24
US: Jobless Weekly Claims — 6:00 p.m. IST
US: Federal Reserve Bank of Cleveland President Beth Hammack will deliver opening remarks at a conference hosted by the Center for Inflation Research at the Federal Reserve Bank of Cleveland and the European Central Bank — 6:15 p.m. IST
UK: External Bank of England MPC Member Catherine Mann will participate in a panel discussion titled "Global Macro Economy in a New World" at the Washington DC Economic Festival — 6:30 p.m. IST
US: Flash services and manufacturing PMI — 7:15 p.m. IST
US: New home sales — 7:30 p.m. IST
US: Energy Information Administration weekly natural gas storage report — 8:00 p.m. IST
US Futures: S&P 500, Nasdaq Gains; Dow Jones Trade Lower
As of 3: 30 p.m., futures of S&P 500 was 0.4% up at 5,860.75, Nasdaq was 0.8% higher at 20,376.25, while those of Dow Jones fell 0.2% at 42,659.00.
Rupee Closes Flat Against Dollar
The rupee appreciated by 1 paisa to close at 84.077 against the US dollar. It closed at 84.083 on Wednesday, according to data on Bloomberg.
Nifty, Sensex Struggle To Recover From Two–Month Low As HUL, ITC Weigh: Market Wrap
The NSE Nifty 50 and BSE Sensex settled at over two–month low on Thursday for a third consecutive session as earning releases failed to uplift investors' sentiment. Moreover, a decline in Asian shares, and overnight losses on Wall Street also pressured the Indian benchmarks.
The Nifty 50 ended 36.10 points or 0.15% down at 24,399.40, and the Sensex ended 16.82 points or 0.02% down at 80,065.16.
In Thursday's choppy session, the benchmark indices recovered briefly. Intraday, the Nifty 50 rose 0.18% to 24,480.65, and the Sensex rose 0.22% to 80,259.82.
Intraday, the Nifty 50 fell 0.39% to 24,341.20, and the Sensex declined 0.34% to 79,813.02.
The Sensex closed at 0.02% down at 80,065.16.
The Sensex closed at 0.02% down at 80,065.16.
The Nifty 50 closed 0.08% down at 24,415.55.
The Nifty 50 closed 0.08% down at 24,415.55.
The lacklustre weekly expiry trade ended on a negative note at 24,399.40 with a loss of 36.10 points, said Aditya Gaggar, director, Progressive Shares. Among the sectors, Banking indices were the top performers while correction extended in the FMCG sector plunging over 2% in today's trade and registered as a major laggard followed by Realty. Disparity was seen in the Broader markets where Midcaps underperformed while Smallcaps more or less moved in tandem with the frontline index. Nothing has changed in terms of the support level of the Index i.e. 24,370; and on the flip side, the resistance has shifted lower to 24,560-24,600. In case of a breakdown, the Index is likely to test the level of 24,200, conversely, a break above the mentioned resistance point will push the Index higher to 24,670, Gaggar added.
The Nifty Bank closed 0.64% higher at 51,567.95
The Nifty Bank closed 0.64% higher at 51,567.95
HDFC Bank Ltd., Mahindra & Mahindra Ltd., State Bank of India, UltraTech Cement Ltd., and ICICI Bank Ltd. supported the Nifty 50 index.
Hindustan Unilever Ltd., ITC Ltd., Hindalco Industries Ltd., SBI Life Insurance Co. Ltd., and Infosys Ltd. weighed don the benchmark index.
The top contributors to the Nifty 50 index.
The top contributors to the Nifty 50 index.
On NSE, six sectors declined, and six sectors advanced. The NSE Nifty FMCG declined the most, and the NSE Nifty PSU Bank rose the most.
On NSE, sectoral indices ended mixed.
On NSE, sectoral indices ended mixed.
Broader indices underperformed. BSE Midcap ended 0.13% doen and BSE Smallcap fell 0.7% lower.
Eleven of 20 sectoral indices fell and nine rose. BSE FMCG fell the most.
Market breadth was skewed in the favour of sellers. As many as 2,345 stocks fell, 1,590 rose, and 98 remained unchanged on the BSE.
Market At Close
The NSE Nifty 50 and BSE Sensex closed at over two–month low for third consecutive session on Thursday.
Hindustan Unilever Ltd., ITC Ltd. and Hindalco Industries Ltd. shares were top losers.
HDFC Bank Ltd., State Bank of India Ltd., UltraTech Cement Ltd. were top gainers in the index.
The NSE Nifty FMCG hit over three–month low and was the worst performing sector on NSE. It ended 2.83% down at 58,396.90.
The NSE Nifty PSU Bank index was the best performing sector. It settled 1.22% higher at 6,430.
The NSE Nifty Midcap 150 ended 0.25% down at 20,932.75.
The NSE Nifty Smallcap 250 ended 0.60% down at 17,352.20
Stock Market Live Updates Today: Laurus Labs Q2 Earnings (Consolidated, YoY)
Revenue flat at Rs 1,224 crore
Ebitda down 5% at Rs 178 crore vs Rs 188 crore
Ebitda margin at 14.6% vs 15.3%
Net profit down 46% at Rs 20 crore vs Rs 37 crore
Stock Market Live: Insolation Energy Arm Gets Order Worth Rs 208 Crore
Insolation Energy Ltd. got order worth Rs 208 crore for supply of solar PV modules at NTPC Khavada, Gujarat, it said in an exchange filing.
Stock Market Live: Max India Approves Right Issue
Max India Ltd. approved raising up to Rs 100 crore via rights issue, the company said in an exchange filing.
CSB Bank Q2 Earnings Key Highlights (YoY)
Net Profit rose 4% at Rs 138 crore vs Rs 133 crore
NII rose 7% to Rs 367 crore vs Rs 344 crore
Gross NPA At 1.68 Vs 1.69% (QoQ)
Net NPA At 0.69 Vs 0.68% (QoQ)
Europe FX Update: Pound Sterling & Euro Rise Post PMI Data
The Pound sterling rose against the US dollar after initial reaction from the lower Purchasing Manager's Index data faded. UK's composite PMI fell to 51.7 in October, against an expectation of 52.6. In September the PMI data was at 52.6.
The Pound sterling was trading 0.33% higher at 1.2963 a dollar as of 2:45 p.m. IST.
The Euro also rose against the greenback after data showed the composite PMI rose to 49.7 in October, from 49.6 in September.
Transport Corp Q2 Earnings Highlights (Consolidated, YoY)
Revenue up 13% at Rs 1,121 crore vs Rs 994 crore
Ebitda up 17% at Rs 117 crore vs Rs 100 crore
Ebitda margin at 10.4% vs 10.1%
Net profit up 22% at Rs 107 crore vs Rs 88 crore
LT Foods Q2 Earnings Highlights (Consolidated, YoY)
Revenue up 7% at Rs 2,108 crore vs Rs 1,978 crore
Ebitda down 5% at Rs 229 crore vs Rs 240 crore
Ebitda margin at 10.9% vs 12.2%
Net profit down 4% at Rs 151 crore vs Rs 157 crore
European Markets: Share Indices Gain Amid Upbeat Earnings
European markets rose on Thursday as upbeat earnings from Renault, Hermes, and Barclays lifted investors' sentiments. Renault SA reported an unexpected rise in its third–quarter revenue. After the upbeat result it confirmed its full year guidance as the French carmaker expects to benefit from new models, Bloomberg reported.
Hermes reported higher sales tracking a rise in its Birkin bags sales. Barclays reported a surprise increase in fixed–income trading, Bloomberg reported.
European markets rose on Thursday because of upbeat earning reports.
European markets rose on Thursday because of upbeat earning reports.
Benchmark Import Price Of Gold Set At $855/10 grams
Benchmark import price of gold is set at $855 per 10 gram. The import price for silver is set at $1,118 per kilogram, the Ministry of Finance said.
Ramkrishna Forgings Q2 Highlights (Consol,YoY)
Net Profit at Rs 190 crore vs Rs 82.2 crore
Revenue up 17.2% at Rs 1,054 crore vs Rs 899 crore
EBITDA up 16.2% at Rs 233 crore vs Rs 200 crore
Margin At 22.1% Vs 22.3%
One-time gain of Rs 95 crore in Q2 FY25 from sale of subsidiary to Yatra Online
Stock Market Live: Azad Engineering Gets Business From Honeywell Aerospace
Azad Engineering received a business award from US-based Honeywell aerospace for high complex components. Phase one of award is valued at $16 million over, it said in an exchange filing.
Tata Teleservices Q2 Highlights (QoQ)
Net loss of Rs 330 crore versus loss of Rs 323 crore.
Revenue up 6.2% at Rs 343 crore versus Rs 323 crore.
Ebitda up 1.7% at Rs 137 crore versus Rs 135 crore.
Margin at 39.9% versus 41.7%.
Asia Market Update: Most Markets Decline; Japan's Nikkei Closes Higher
Most share indices ended lower on Thursday as US stocks declined overnight on uncertainty over pace of rate cuts in the US. Recent strong economic data from the world's largest economy and hawkish remarks from several Fed officials influenced the investors pare back their bets on aggressive rate cuts.
The CSI 300 ended 1.12% down at 3,928 and the KOSPI ended 0.72% down at 2,581.
The Nikkei 225, Japan's benchmark index, was the only contrast and ended 0.10% higher at 38,143.2.
Most Asian markets closed lower on Thursday
Most Asian markets closed lower on Thursday
Zomato Says Platform Fee Hike A Routine Business Matter
The recent platform fee hike to Rs 10 by Zomato Ltd. is a part of routine business matter, the company said in an exchange filing Thursday. The fee has been hiked by 67% from Rs 6 per order. To read more click here.
Stock Market Live: Ujjivan SFB Q2 Key Highlights (YoY)
NII rose 15% to Rs 944 crore vs Rs 823 crore
Net Profit fell 29% to Rs 233 crore vs Rs 328 crore
Gross NPA Flat At 2.52% (QoQ)
Net NPA 0.56% Vs 0.41% (QoQ)
Colgate Palmolive (India) Q2 Earnings Key Highlights (YoY)
Revenue rose 10.06% to Rs 1,618 crore from Rs 1,470 crore
Ebitda rose 3.11% to Rs 496 crore from Rs 481 crore
Margin fell 206 basis points to 30.65% vs 32.72%
Net profit rose 16.17% to Rs 395 crore vs Rs 340 crore
Stock Market Live Updates: ABB India's Arm To Open Robotics School With NAMTECH
ABB India Ltd.'s ABB Robotics & NAMTECH signed a memorandum of understanding to establish School of Robotics. NAMTECH stands for New Age Makers’ Institute of Technology, the company said in an exchange filing.
Indoco Remedies Q2 Highlights (Consolidated, YoY)
Net loss of Rs 10 crore versus profit of Rs 35.2 crore.
Revenue down 9.1% at Rs 431 crore versus Rs 474 crore.
Ebitda down 39.2% at Rs 38.6 crore versus Rs 63.5 crore.
Margin at 9% versus 13.4%.
Tata Power's Unit In Pact With Keppel
Tata Power Ltd.'s arm Tata Power Trading Co. Ltd. is in pact with Keppel to launch a cooling-as-a-service solutions in India, it said in an exchange filing.
Stock Market Live: Nifty FMCG Hits Over Two–Month Low As HUL Share Price Drags
The NSE Nifty FMCG index fell 3.07% to 58,253.20, the lowest level since July 8. Hindustan Unilever Ltd., and ITC Ltd. share prices dragged the index. It was trading 2.91% down at 58,346.05 as of 12:12 p.m., as compared 0.11% decline in the NSE Nifty 50 index.
The Nifty FMCG index was 2.98% down at 58,307.05.
The Nifty FMCG index was 2.98% down at 58,307.05.
India Market At Noon: Nifty, Sensex Remain Down As HUL, RIL Share Prices Drag
At noon, the NSE Nifty 50 and BSE Sensex continued to trade lower as Hindustan Unilever Ltd., and Reliance Industries Ltd. share prices dragged. As of 12:01 p.m., the Nifty 50 was trading 29.65 points or 0.12% down at 24,405.85, and the Sensex was trading 39.54 points or 0.05% down at 80,042.44.
The Sensex was trading 0.05% down at 80,044.53.
The Sensex was trading 0.05% down at 80,044.53.
The Nifty 50 was trading 0.14% down at 24,402.45.
The Nifty 50 was trading 0.14% down at 24,402.45.
Nvidia Launches Hindi AI Model; RIL, Infosys, Tata Communication Partners With Nvidia
Nvidia Corp launched Hindi artificial intelligence model in India, CEO Jensen Huang announced during his visit to India. Reliance Industries, Tata Communications Ltd., Netweb Technologies Ltd., Tech Mahindra are some of the Indian companies which partnered with California–based chipmaker for the development of Hindi artificial intelligence model.
Stock Market Live Updates Today: Netweb Tech Broadens Range Of Nvidia MGX Plantform
Netweb Technologies Ltd. broadened range of NVIDIA MGX Platform servers, it said in an exchange filin.g
Sona BLW Share Price Sees Best Jump In Three Years
Sona BLW Precision Forgings Ltd.'s share price recorded its best jump in nearly three years after the company reported higher than expected earnings for the September quarter. The scrip rose as much as 10.85% to Rs 714 apiece, the highest level since Oct. 3.
Sona BLW share price was trading 9.63% higher at 706.15 apiece.
Sona BLW share price was trading 9.63% higher at 706.15 apiece.
Stock Market Live Updates Today: TCS Expands With Nvidia
Tata Consultancy Services Ltd. expanded partnership with Nvidia to launch industry–specific solutions. It introduced Nvidia business unit to accelerate artificial intelligence adoption for customers across industries, it said in an exchange filing.
Titan Approves Appointment Additional Director
Titan Co. Ltd. approved appointment of PB Balaji as additional director, effective from October 28, it said in an exchange filing.
Godavari Biorefineries IPO Subscribed 39% So Far On Day 2
The Godavari Biorefineries IPO has been subscribed 0.39 times as of 10:51 a.m. on Tuesday.
Qualified institutional buyers: Nil.
Non-institutional investors: 0.17 times.
Retail investors: 0.69 times.
India's October Flash Composite PMI At 58.6
October Flash Services PMI At 57.9 Vs 57.7 In September
October Flash Composite PMI At 58.6 Vs 58.3 In September
October Flash Manufacturing PMI At 57.4 Vs 56.5 In September
Stock Market Live Updates Today: Paytm Share Price Rises For Second Day
One 97 Communication, popularly known as Paytm, share price rose for a second day on Thursday after Citi research upgraded the stock rating to 'Buy'. The brokerage upgraded the stock rating after the National Payment Corporation of India gave it approval to onboard new users.
One 97 Communication Ltd. share price rose 3.41% higher to Rs 770.50 apiece.
One 97 Communication Ltd. share price rose 3.41% higher to Rs 770.50 apiece.
Catch Latest Updates On Q2 Earnings From ITC, NTPC, IndusInd Bank At NDTV Profit
Catch latest second quarter earning releases from ITC Ltd., NTPC Ltd., and IndusInd Bank Ltd. here. Godrej Consumer Products Ltd., Adani Total Gas Ltd., Adani Wilmar, Sanghi Industries, Strides Pharma Science' earnings are scheduled for release later today.
Waaree Energies IPO: Allotment Today
The allotment of Waaree Energies Ltd. is scheduled to be finalised on Oct 24. The company's shares will be listed on BSE and National Stock Exchanges.
On the last day, Waaree Energies's initial public offer was subscribed 76.34 times. To know more about today's allotment click here.
Stock Market Live: Hindalco Down Over 7% On Negative Cues From Constellium
Hindalco Industries Ltd. share price declined to the lowest level in over one month Thursday morning after Constellium, a global association of aluminum manufactures, guided for weak demand.
Hindalco Industries share price declined 7.02% to Rs 666.75 apiece, the lowest level since Sept 12. It was trading 4.80% down at Rs 682.70 apiece as of 10:14 a.m.
Hindalco Industries share price declined 5.03% down at Rs 681.00 apiece
Hindalco Industries share price declined 5.03% down at Rs 681.00 apiece
Amber Enterprises Guides For Rs 375 Crore Capex FY25
Amber Enterprises India Pvt. Ltd. has guided for Rs 375 crore capital expenditure for financial year 2025. It also guided that the consumer division business will likely outgrow 30% industry growth, CEO Jasbir Singh said in an interview to NDTV Profit.
The company also guided for electronics division growth of 50% compared to 45% earlier. Amber Enterprises India expects electronics consumption to touch $300bn by FY30 from $115bn now, Singh said.
Stock Market Live: SRF Share Price Falls 4% As Analysts Cut Target
SRF's share price fell on Thursday after weak earnings for the quarter ended September led some brokerages to reduce the stock's target price and their earnings estimates as the company is uncertain on outlook for specialty chemicals, given weak macro scenario.
SRF share price pared losses after it fell 1.39% down at Rs 2,216.85 apiece.
SRF share price pared losses after it fell 1.39% down at Rs 2,216.85 apiece.
HUL Share Price Falls After Q2 Profit Dips & Misses Estimates
Hindustan Unilever Ltd. share price plunged over 4% in early trade on Thursday after net profit in the September quarter declined and analysts trimmed future earnings projections.
HUL share price declined 4.54% down at Rs 2,538.55 apiece.
HUL share price declined 4.54% down at Rs 2,538.55 apiece.
Stock Market Live Update Today: Railtel Corp Gets Order Worth Rs 144.9 Crore
Railtel Corporation of India received work order worth Rs 144.9 crore from home department, Government of Gujarat, it said in an exchange filing.
Nifty, Sensex Rebound As HDFC Bank, Trent Share Prices Rise: Opening Bell
The NSE Nifty 50 and BSE Sensex rebounded from a three–day decline on Thursday morning shortly after open. A rise in HDFC Bank Ltd. and Trent Ltd. share prices supported the benchmark indices.
As of 09:18 a.m., the Nifty 50 was trading 13.40 points or 0.06% higher at 24,448.90, and the Sensex was trading 81.12 points or 0.10% higher at 80,163.09.
"In a shift from the previous day, market sentiments turned more upbeat. The 100-day moving average, currently trading near 24560, is acting as a level of overhead resistance. It is essential to reclaim this moving average to mitigate potential drawdowns effectively," said Ameya Ranadive, senior technical analyst, StoxBox.
The Sensex was trading 0.14% higher at 80,196.87.
The Sensex was trading 0.14% higher at 80,196.87.
The Nifty 50 was trading 0.11% higher at 24,463.50.
The Nifty 50 was trading 0.11% higher at 24,463.50.
The Nifty Bank was trading 0.45% higher at 51,272.30.
The Nifty Bank was trading 0.45% higher at 51,272.30.
HDFC Bank Ltd., Infosys Ltd., Trent Ltd., Sun Pharmaceutical Industries Ltd., and HCLTech Ltd. share prices supported the Nifty 50 index.
Hindustan Unilever Ltd., Hindalco Industries Ltd., SBI Life Insurance Co. Ltd., ITC Ltd., and Bharti Airtel Ltd. weighed on the Nifty 50 index.
Top contribution to the Nifty 50 index during open.
Top contribution to the Nifty 50 index during open.
On NSE, eight sectors advanced, two declined, and two remained largely flat out of 12. The NSE Nifty FMCG declined the most, and the NSE Nifty Realty rose the most.
Most sectoral indices open higher
Most sectoral indices open higher
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices were trading 0.39% and 0.38% higher, respectively.
On BSE, 16 sectors advanced, and four declined out of 20. The BSE Realty rose the most, and the BSE FMCG declined the most.
Market breadth was skewed in favour of buyers. Around 1,632 stocks advanced, 1,130 stocks declined, and 104 stocks remained unchanged on BSE.
Stock Market Live: Nifty, Sensex Trade Flat At Pre–Open
At pre–open, the NSE Nifty 50 was trading 0.09% down at 24,412.70, and the BSE Sensex was trading 0.06% higher at 80,093.30.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.81%. It closed at 6.82% on Wednesday, according to data on Bloomberg.
Rupee Flat Against US Dollar
Rupee opened flat at 84.07 against the US dollar. It closed at 84.08 on Wednesday, according to data on Bloomberg.
Metro Brands Q2 Earnings Key Highlights (Consolidated, YoY)
Net profit rose 6.1% at Rs 71.7 crore vs Rs 67.6 crore
Revenue rose 5.4% at Rs 586 crore vs Rs 556 crore
Ebitda flat at Rs 155 crore
Ebitda margin at 26.4% vs 27.9%
Stock Market Live: RateGain Travel Elevates Pricing Strategy
RateGain Travel Technologies Ltd,'s flight centre travel group elevates pricing strategy with AirGain’s price intelligence solution, it said in exchange filing.
The Dollar Index Steadies After Hitting Nearly Three–Month High Level
The dollar index, which measures the strength of the greenback against six major currencies, rose 104.57, the highest level since July 30, according to data on Bloomberg. The greenback gained as market participants pared their bets on aggressive easing in the US, noting underlying strength of the US economy.
The index rose past the crucial 104.00 level for the first time on Tuesday since Mid–July. From then on, it's hitting fresh nearly three–month high levels.
In Asian trade, the dollar index was trading 0.07% down at 104.36 as of 08:12 a.m. IST.
Stock Market Live: HUL's Q2 Net Profit Falls Missing Estimates
Hindustan Unilever Ltd. share price may see movement in Thursday's session as its net profit for July–September declined, missing estimates. HUL reported that its net profit fell 2.3% on the year to Rs 2,595 crore, compared to Rs 2,693 crore analysts projected in a Bloomberg's survey.
To know more about Hindustan Unilever's second quarter performance click here.
Asia FX Update: Most Asian Currencies Little Change
Most Asian currencies were trading little change against the US dollar in early trade Thursday as the greenback lost some steam after hitting fresh over two–month high.
The Indonesian rupiah and South Korean won were trading 0.17% and 0.11%, higher against the green back respectively as of 08:07 a.m. IST.
The South Korean won rose against the US unit as the economy managed to avoid recession. Its GDP grew 0.1% in the third quarter ended in September, compared to 0.20% contraction in the preceding quarter, Bloomberg reported.
The Japanese yen rose 0.20% to 152.46 a dollar as of 8:13 a.m. IST.
Stock Market Live: Crude Oil Prices Rebound
Crude oil future prices rebounded Thursday morning as traders assessed supply side risks in the Middle–East. Further, pared bets on aggressive easing in the US weighed on the demand outlook for the commodity.
The December contract of the brent crude on the Intercontinental Exchanges was trading 0.96% higher at $75.68 a barrel as of 08:05 a.m. It settled 1.42% down at $74.96 a barrel on Wednesday.
Stock Market Live: Emkay Global Research Keeps 'Buy' On Adani Green Energy
Emkay maintains 'Buy' on Adani Green Energy at Rs 2,550 target, which implied a 50% upside
July–September consolidated Ebitda rose 25% on the year stable operating performance, jump in equipment sales
Consolidated net profits fell due to jump in minority interest
Management estimates 2GW/4GW renewable energy capacity commissioning in Q3FY25/Mar'25
Management guides annualized Ebitda run-rate of Rs 10800 cr for current 11.2 GW capacity
Management guides annualized Ebitda run-rate of Rs 16000 cr 17GW FY25-end capacity
Trim FY25 Ebitda by 7% to reflect H1 run-rate
Largely retaining FY26-27E Ebitda estimates
Jefferies Maintains Underperform On SRF
Reduced Price target to Rs 1970 from Rs 2070; downside potential 12%
Management withdrew FY25 revenue and margin guidance for specialty chemicals
Guidance withdrawn despite strong order book, signaling limited visibility
EBITDA Miss due to weak chemicals performance.
PAT was 16% below estimates due to higher tax rates.
Delay in customer registrations affecting growth in AIs.
Refgas revenues declined mid-single digits due to elevated US inventories and Chinese competition in ME/SEA.
FY25/26 PAT estimates cut by 20%/15%.
Risk-reward unfavorable, maintain "Underperform" with target price of ₹1,970.
Stock Market Live: Gold Prices Halt Record Rally
After hitting fresh high in Wednesday's session, Gold spot and future prices halted their rally as US Treasury yields and the dollar index rose. A rise in dollar index makes the bullion expensive for other currency holders, while a rise in US Treasury yields reduces its appeal to the investors.
The spot gold price fell over 1% while the Gold future prices fell 0.90%.
The Gold December future was 0.35% higher at $2,738.80 an ounce as of 07:17 a.m.
Stock Market Live Update: US Treasury Yields Rise On Fed Rate Outlook
The yield on the benchmark 10–year US Treasury note rose to fresh nearly three–month high on Wednesday as investors trimmed their expectations of aggressive rate cuts by the US Federal Reserve.
The yield on the 10–year US Treasury note was trading flat at 4.23% as of 07:04 a.m. IST.
Asia Market Update: Most Share Indices Rise
Most Asia–Pacific share indices rose Thursday, brushing off the effect of overnight moves on Wall Street. Stocks in Wall Street slid after US Treasury Yields rose across the board as traders pare their bets that the US Federal Reserve will cut interest rates aggressively.
The Nikkei 225 was trading 0.34% and 124.40 points at 38,232.26. The S&P ASX 200 was 0.11% or 9 points higher at 8,225. The KOSPI was 0.28% or 7.18 points down at 2,591.79 as of 06:59 a.m.
Stock Market Live: US Stocks End Lower As Treasury Yields Rise
US stocks ended lower on Wednesday, and treasury yields continued to hit new levels of nearly three–month high. The Dow Jones Industrial index posted its worst intraday fall in over one month.
The S&P 500 ended 0.92% down at 5,797.43. The Dow Jones Industrial Average ended 0.95% down at 42,514.95. The Nasdaq Composite index fell 1.60% down at 18,276.66.
GIFT Nifty Trades Near 24,500; Escorts Kubota, HUL, Infosys, Piramal Pharma Share Prices In Focus
The GIFT Nifty was trading near 24,500 level in early trade on Thursday. Escorts Kubota Ltd., Infosys Ltd., and Piramal Pharma Ltd. share prices will be in focus in today's session. Moreover, for recently released quarterly numbers, AU Small Finance Bank Ltd., Bajaj Holding & Investment Ltd. Hindustan Unilever Ltd. share prices are likely to react.
The GIFT Nifty was trading 4.5 points, or 0.02%, higher at 24,500 as of 06:37 a.m.
The NSE Nifty 50 and BSE Sensex extended fall to a third session and ended at over two–month low on Wednesday. The NSE Nifty 50 closed 36.60 points or 0.15%, down at 24,435.50 and the BSE Sensex ended 138.74 points or 0.17%, lower at 80,081.98.
This candlestick formation typically indicates strength. Thus, the 24,378 level serves as crucial short-term support, said Hrishikesh Yedve, assistant vice president, Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates.
If Nifty 50 holds above this, it might witness a pullback towards the 24,600–24,700 zone, which coincides with the neckline of the head and shoulder pattern. On the other hand, if Nifty 50 breaks below 24,370, it could drift lower towards the 24,200–24,000 levels. Traders are advised to use any bounce to book profits, considering the overall weakness, he added.
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