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Adani Ports, Adani Power Bounce Back As Group Denies US Bribery Charges
As of 3:26 p.m., the Dow Jones Industrial Average and S&P 500 futures were trading 0.19% and 0.37% lower, respectively. The Nasdaq 100 future was 0.48% down.
US: Unemployment Claims
US: Philly Fed Manufacturing Index
US: FOMC Member Hammack Speaks
UK: MPC Member Mann Speaks
EUR: Consumer Confidence
US: Existing Home Sales
US: Natural Gas Storage
US: FOMC Member Goolsbee Speaks
US: FOMC Member Hammack Speaks
-Rupee depreciated nine paise to close at 84.50 against the US dollar.
-It closed at 84.41 on Tuesday.
Source: Bloomberg
Nifty and Sensex were back in the negative territory amid geopolitical tensions
Both of them recorded lowest closing in five months
Intraday, both Nifty and Sensex fell around 1% to hit their lowest since June 10 and June 24 respectively
Nifty ends 0.7% or 168.60 points down at 23349.90
Sensex ends 0.5% or 422.59 points lower at 77155.79
Nifty Midcap 100 outperformed but ended 0.3% down and Nifty Smallcap 250 closed 0.6% lower
Most sectoral indices fell. Nifty Realty rose the most and Nifty PSU Bank was top loser
January futures of brent crude and WTI crude were trading more than 1% higher as of 2: 36 p.m. at $73.66 a barrel and $69.63 a barrel respectively amid geopolitical tensions in Russia-Ukraine.
Most European indices fell in the early trade tracking fall in their global peers as sentiment was weighed by Nvidia's forecast. As of 2:30 p.m., Euro Stoxx 50 was 0.3% lower, FTSE 100 was flat, Germany's DAX fell 0.1%, France's CAC 40 fell 0.4%, and Spain's Ibex was 0.1% down.
Most indices in the Asia-pacific region ended in the negative territory on Thursday with Japan's Nikkei losing nearly 1%, Hong Kong's Hang Seng ended 0.5% lower, while South Korea's Kospi and China's CSI 300 ended flat.
Coal India will allow coal supplies beyond Annual Contracted Quantity to Non-Regulated Sector customers in long-term linkage auctions, an exchange filing said.
Honasa Consumer Share Price Hits All-Time Low Amid Distributor Body's Claims Of Unsold Stock
Reliance Jio net lost 79.7 lakh subscribers
BSNL net adds 8.5 lakh subscribers
Vodafone Idea net lost 15.5 lakh subscribers
Bharti Airtel net lost 14.3 lakh subscribers
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Indian Hotels Co. Share Price Hits Record High As Analysts Positive On New Business Growth
Suzlon Energy Share Price Hits Upper Circuit After Morgan Stanley Upgrades It To 'Overweight'
NTPC Green Energy IPO Subscribed 40% So Far On Day Two — Check GMP
India's Rs 4.3 lakh-crore stock market is in the middle of one of the biggest correction in recent times. Yet, in an unforeseen way, stocks of small and mid-cap companies avoided a heavy selloff and fell in line with benchmark gauges.
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Nifty PSU Bank was the top loser among sectoral indices on Thursday as it fell more than 4% to hit 6,163.75, its lowest level since January 31. All constituents of the index fell with Bank of Baroda and PNB share prices leading the decline.
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Vodafone Idea Needs 160% ARPU Surge To Sustain Free Cash Flow, Says Goldman Sachs
Rupee Opens Flat Against Dollar As RBI Continues Intervention
India's financial and energy stocks continued to bear the brunt of sell-off by foreign investors as the combined outflow surged past $1.5 billion in the first half of November, while the overall asset under custody in domestic stocks plunged by $21.5 billion.
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Honasa Consumer denied 'misinformation' on practices with distributors and distribution transition. It said distribution value-chain carried a total inventory of Rs 40.69 crore as of October 31. It has already removed 2-layered channel partner structure of super-stockists from top-50 cities. The company is already setting up single-layered distributor structure, a filing said.
Nifty IT emerged as the only sectoral index that gained as benchmarks were back in the negative territory on Thursday after a one-day rise. The index extended its gains for a second consecutive session. Most stocks in the index were up with Infosys leading.
At pre-open, Nifty 50 was at 23488.45, down 0.13% or 30.05 points and Sensex was at 77711.11, up by 0.17% or 132.73 points.
The yield on the 10-year bond opened flat at 6.85%. It closed at 6.85% on Tuesday, according to data Bloomberg.
Rupee opened flat at 84.41 against the US dollar. It closed at 84.41 on Tuesday, according to data on Bloomberg.
RattanIndia Enterprises in an exchange filing said its arm Revolt Motors expands dealership network across India. The network now includes 153 dealerships, 14 more coming up in November.
According to Citi, post the 10% correction in Nifty, valuations are more reasonable and looking ahead, potential 2H recovery in public capex & rural demand are positives.
Urban consumption & asset quality also remains a watch for the brokerage. It said domestic Flows continue to be robust, but sentiment may be tested if FII sell-off sustains
Key Overweight: Financials, Telecom, Pharma
Key Underweight: Consumer Discretionary, IT, Metals.
Goldman Sachs has raised its target price for Eicher Motors to Rs 5,900 from Rs 5,400 earlier while maintaining a 'buy' rating as it expects near-term pickup in volume momentum in FY25 / FY26. It also expects more product events over next year across 350cc / 450cc /650cc portfolios and sees pickup in export volumes where margin and ASP are superior vs domestic.
Indian Market Could See Cyclical Slowdown In 2025 But Key Sectors Offer Opportunities: Goldman Sachs
Asian Stocks Slip After Nvidia’s Revenue Forecast Fails To Cheer Investors
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