Stock Market Live: Nifty, Sensex Higher At Pre–Open; Rupee Hits Record Low
At pre–open, he NSE Nifty 50 was 0.39% higher at 24,308.75, and the BSE Sensex was 0.37% higher at 79,771.82Get live updates here.
KEY HIGHLIGHTS
Stock Market Live: Nifty, Sensex Trade Higher At Pre–Open
At pre–open, the NSE Nifty 50 was 0.39% higher at 24,308.75, and the BSE Sensex was 0.37% higher at 79,771.82
Yield On The 10-Year Bond Advance
The yield on the 10-year bond advanced 3 basis points higher to 6.86%. It closed at 6.83% on Tuesday, according to data on Bloomberg.
Rupee Weakens To Record Low Against US Dollar
Rupee weakened by 6 paise to a record low of 84.16 against the US dollar. The currency opened at 14.15 on Wednesday. It closed at 84.10 on Tuesday, according to data on Bloomberg
Stock Market Live: Morgan Stanley On PB Fintech
Maintains Equal Weight. The target price is at Rs 1,375 , which implied a 16% downside
Strong revenue momentum continues
Revenue and adjusted Ebitda better than estimates
Adjusted Ebitda margin was steady sequentially
Valuation is expensive, however, good performance to support stock
US Treasury Yields Jumps As Early Vote Count Shows Trump Victory In US Election
US Treasury yields jumped on Wednesday as early vote count shows chances of Donald Trump's winning US elections. Market participants have bet that the second Trump administration could bolster the debt market and the US currency because of tarrif hikes and low tax.
The yield on benchmark 10–year US Treasury note rose 4.13% to 4.45%, touching the highest level since July 2. This is the highest intraday gain since Feb 2 for the 10–year US Treasury note.
The yield on benchmark 10–year US Treasury note was trading at 4.31% as of 8:44 a.m.
Chances Of Trump Becoming President With Felony Charges, Says Riley Advisory's Freeman
Here, the world has chances with Trump with felony charges potentially becoming the president. Presidents need the budgets from congress to implement their policies, said Seth R. Freeman, managing director B. Riley
Either of the administrations (Democratic and Republican) is expected to focus on China. Chinese economy is doing poorly right now, Riley said in an interview to NDTV Profit
Indian exporters could see the impact of potentially higher tariffs levied, Riley.
Asia FX Update: Yen Falls Over 1% Against US Dollar
The Japanese yen declined over 1% against the greenback as the dollar index inched towards three–month high it touched in late October. The dollar index rose because of the volatility regarding the US election, which pressured currencies across Asia–Pacific region.
The dollar index, which measures the strength of the US unit against six major currencies, rose 1.32% to 104.62 so far Wednesday. The index was trading 1.26% higher at 104.72 as of 08:07 a.m..
The Japanese yen was trading 1.54% higher at 153.96 a dollar as of 08:18, according to data on Bloomberg.
The South Korean won and Thai Baht declined 1.02% and 0.95% against the greenback, respectively.
Oil Update: Oil Prices Fall In Asian Trade On Worries Over Supply
Oil future prices declined in Asian trade on Wednesday as worries rose about the commodity's supply outlook after hurricane Rafael started gaining strength towards Gulf of Mexico.
The January future of the brent crude was trading 0.47% higher at $75.26 a barrel as of 7:45 a.m.
Stock Market Live: Citi Research On Banks
Asset quality takes centre stage as a few banks disappoint
ICICI Bank, HDFC Bank & Federal Bank surprised positively
Credit costs were 10% higher than Citi Estimates
Treasury gains were better than expected
Prefer: ICICI Bank, HDFC Bank & Federal Bank
Stock Market Live: Goldman Sachs On Titan
Rates buy with target of Rs. 3,650, which implied an upside of 12.9%
Cut in margin guidance, but growth outlook remains robust
Q2FY25 EBITDA below expectations due to miss on margins
Strong growth in jewellery in Q2, festive in Q3 has also been good
Studded mix drops but studded growth was healthy
Management stated lab grown diamonds not impacting their business
Asia Market Update: Share Indices Rise Tracking US Gains
Asian share indices gained on Wednesday, tracking overnight moves on Wall Street ahead of the outcome of the US elections.
The Nikkei 225 and S&P ASX 200 were trading 0.84% and 1.24% higher respectively, as of 07:13 a.m.
US Market Update: Stocks Gain As Traders On Edge For Election Outcome
US stocks gained in Tuesday's session as traders remained on the edge to see who wins the presidential race. Results are still being counted which is projecting Donald Trump is leading so far.
The Dow Jones Industrial Average ended 1.02% higher, and the S&P 500 ended 1.23% higher. The Nasdaq Composite ended 1.43% higher.
Catch live updates on US election with NDTV Profit here.
GIFT Nifty Trades Near 24,400; Dr. Reddy's, GAIL, Mankind Pharma, Oil India Share Prices Likely To React
The GIFT Nifty was trading near 24,400 in early trade on Wednesday. Dr. Reddy's Laboratories Ltd., GAIL (India) Ltd., Mankind Pharma Ltd. share prices are likely to react due to earnings and news flows.
The GIFT Nifty was trading 0.47% or 115.00 points higher at 24,384.50 as of 06:30 a.m.
The NSE Nifty 50 and BSE Sensex had their best session since Sept. 20 on Tuesday. The benchmark indices started recovery during the latter half of the trade.
The NSE Nifty 50 ended 0.91%, or 217.95 points, higher at 24,213.30, and Sensex ended 0.88%, or 694.39 points, higher at 79,476.63. Intraday, both Nifty and Sensex fell as much as 0.6% each.
The nervousness around the US presidential election outcome persists as it can result in major global policy shifts, Motilal Oswal Financial Services' Wealth Management and Research Head Siddhartha Khemka said.
The market's recovery in the final hour was fueled by short covering ahead of the US election results and after sharp fall yesterday. Motilal Oswal Financial Services expects markets to remain volatile on the back of global factors with stock specific action as index heavy weights announce quarterly results during the next few days.
