Stock Market Today, GIFT Nifty Live: Nikkei Tumbles 3%; Wall Street Mixed; Q2 Earnings, US Midterm Election Outcome In Focus
Crude oil prices resumed their upward move on Wednesday, November 4, after declining for two consecutive sessions, as investors assessed the uncertainty surrounding peace negotiations between the US and Iran.
Indian benchmark indices, the Sensex and Nifty 50, are likely to track mixed global cues on Wednesday, November 4, with investors keeping an eye on the US midterm election outcome, crude oil prices, and ongoing geopolitical tensions involving the US-Iran and Russia-Ukraine conflicts.
GIFT Nifty futures were trading 61 points lower at 23,719.5, compared with the Nifty 50 futures' previous close of 23,780.5, indicating a weak start for domestic equities.
In the previous trading session, the BSE Sensex settled at 76,917.85, gaining 1,225.07 points, or 1.62%. The NSE Nifty 50 also ended higher, rising 370.05 points, or 1.58%, to close at 23,810.85.
Global Cues
Asian markets were trading mixed amid uncertainty over the US midterm election results, with early indications pointing towards a possible Democratic victory over Republicans.
South Korea's Kospi rebounded from the previous session's decline, rising 1.6%. However, Japan's Nikkei 225 tumbled 1.56%, while the Topix slipped 0.55%. Australia's ASX 200 was also trading 0.52% lower.
Crude Oil Prices Today
Crude oil prices resumed their upward move on Wednesday, November 4, after declining for two consecutive sessions, as investors assessed the uncertainty surrounding peace negotiations between the US and Iran.
Brent crude was last trading 0.74% higher at $104.30 a barrel.
Qatar's Foreign Ministry spokesperson said the US and Iran were considering fresh proposals put forward by mediators to resolve their differences. However, Iran's national security chief indicated in a social media post that Washington's response to the proposals remained unsatisfactory.
Investors will also track developments in the ongoing geopolitical conflicts, along with the latest corporate earnings announcements, for further cues on the domestic market.
Stock Market Live: Global Health Q2 Profit Rises 39% YoY To Rs 221 Crore; EBITDA Jumps 60%
- Global Health reported a 39.3% year-on-year increase in consolidated net profit to Rs 221 crore in Q2, compared with Rs 158 crore a year ago.
- Revenue grew 33.6% to Rs 1,469 crore from Rs 1,099 crore, while EBITDA rose 60.3% to Rs 370.1 crore from Rs 230.9 crore.
- EBITDA margin improved to 25.2% from 21%.
Stock Market Live: Harsha Engineers Q2 Profit Rises 24% YoY To Rs 45 Crore; EBITDA Jumps 40%
- Harsha Engineers reported a 23.7% year-on-year increase in consolidated net profit to Rs 45 crore in Q2, compared with Rs 36.4 crore a year ago.
- Revenue grew 16.3% to Rs 440.1 crore from Rs 378.3 crore, while EBITDA rose 39.6% to Rs 74.7 crore from Rs 53.5 crore.
- EBITDA margin improved to 17% from 14.1%.
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Stock Market Live: ASK Automotive Q2 Profit Rises 27% YoY To Rs 101.6 Crore; Revenue Jumps 48%
- ASK Automotive reported a 27.3% year-on-year increase in consolidated net profit to Rs 101.6 crore in Q2, compared with Rs 79.8 crore a year ago.
- Revenue rose 47.6% to Rs 1,555 crore from Rs 1,054 crore, while EBITDA increased 30.2% to Rs 178.6 crore from Rs 137.2 crore.
- EBITDA margin declined to 11.5% from 13%.
Stock Market Live: Neuland Labs Q2 Profit Falls 47% YoY To Rs 51.6 Crore; Margin Contracts
- Neuland Laboratories reported a 46.7% year-on-year decline in consolidated net profit to Rs 51.6 crore in Q2, compared with Rs 96.9 crore a year ago.
- Revenue fell 12.6% to Rs 450 crore from Rs 514 crore, while EBITDA declined 37.3% to Rs 97.6 crore from Rs 156 crore.
- EBITDA margin contracted to 21.7% from 30.2%.
Stock Market Live: US Indices Settle Mixed
- US indices settle mixed ahead of Midterm elections outcome
- Tech-heavy Nasdaq ended 0.83% up
- S&P 500 closed 0.36% higher
- Dow Jones Industrial Average slipped 0.38%
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