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The US markets closed with little change on Tuesday amid rising tension in the Middle-East. The S&P 500 and Dow Jones Industrial Average ended 0.01% and 0.09% higher. The Nasdaq Composite settled 0.08% higher.
In Asian trade, US futures were trading marginally lower. The S&P 500 and Dow Jones Industrial futures were trading 0.07% and 0.06% lower, respectively.
Market participants look forward to US jobs report, scheduled for release on Friday.
Oil prices continued to rise in Asian trade on bleak supply outlook as geopolitical tension heightened in the Middle East after the Israel said that the country will retaliate to Iran's attack earlier in the week.
The crude oil was trading 1.04% higher at $74.67 a barrel as of 07:24 a.m.
Trading volumes could drop as much as 50% after Sebi regulations kick in. Around 50-60% of traders will drop out as a result of higher contract sizes
No clarity is yet on which benchmark will be selected by NSE for weekly expiry. Regulator could take more action if trading volumes in derivatives are not impacted.
Bitcoin prices erased losses in Asian trade. The prices declined as much as 0.78% to $60,430.98 earlier. As of 07:53 a.m., bitcoin price was 0.40% higher at $61,146.29.
The Securities Exchange Board of India in its latest Futures & Options Framework said that bourses will monitor intraday position four times a day. To understand the new framework in detail click here.
The Japanese yen declined against the US dollar after Prime Minister Shigeru Ishiba said that the economic condition of the country do not support rate hikes. The yen was 0.29% lower at 146.90 a dollar as of 08:12 a.m.
Most Asian currencies declined on Thursday as the dollar index rose to three-week high after data showed private sector employment increased in the world's largest economy more, weighing on hopes of more rate cuts.
The Australian dollar declined 0.16% against the greenback, while the Malaysian Ringgit fell 0.90% against the greenback.
The dollar index, which measures the strength of the greenback against major currencies, was trading 0.12% higher at 101.80, the highest level since Sept 12. The index was trading 0.09% higher at 101.76 as of 08:18 a.m.
Biocon Biologics refinances $1.1 billion long term debt through dollar bonds and new syndicated facility, it said in an exchange filing.
Circular broadly in-line with discussion paper, impacts ~35% of industry premiums
Lot size and margin hike lower than expected
Phased implementation to lead to calibrated tightening
Focus now moves to participant behavior post implementation
Discount brokers can be most impacted, followed by exchanges (BSE)
AMCs, Wealth Managers, Depositories remain unaffected
Signature Global India's arm launched a new project, Daxin, Gurugram’s X Factor in Gurugram, it said in an exchange filing.
Indian steel majors have structural reasons to continue trading at higher valuations
Structural reasons: Higher ROE, higher domestic demand
Global liquidity cycle is turning favorable for metals
Steel cos could have lower cost of equity as deleveraging continues
Believe Indian steel majors are among the best placed globally
Cost drivers to partially offset moderation in realizations
Maintains buy with target price of Rs. 760, which implied a 23% upside
Consolidated revenue is likely to decline 5% on the year
EBITDA is likely to clock 15% on the year decline
Q3 shall be slightly better than Q2
Expects consolidated revenue/EBITDA to fall 5%/15% on the year
Gross/EBITDA margin to fall 82bp/213bp YoY to 47.5%/18.5%
Expects A&P as percentage of sales at 7%. Q3FY25 can be better
Dabur's Q2 revenue down on high GT inventory, unfavorable weather
Dabur to maintain marketing spend despite challenging environment
Industry interactions suggest moderate demand with no major uptick expected
Brokerage notes ongoing debate on impact of e-commerce and other new channels, presenting challenges and opportunities for FMCG cos like Dabur
Cites inventory management concerns at Honasa
Advises caution on possibility of market corrections in FMCG companies
Total Loans & Advances rose13.1% on the year at Rs 2.36 lakh crore
Total Deposits rose 18.3% on the year at Rs 2.77 lakh crore
CASA Ratio At 32% Vs 30.8% QoQ
Liquidity Coverage Ratio At 131.9% Vs 137.8% QoQ
Loan to deposit ratio falls 130bps QoQ to 85.3%
Source: Exchange filing
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
Rupee weakened by 8 paise to open at 83.90 against the US dollar. It closed at 83.82 on Tuesday, according to data on Bloomberg.
At pre-open, the NSE Nifty 50 was trading 1.33% down at 25,452.85, and the BSE Sensex was 1.50% down at 83,002.09.
The yield on the 10-year bond advanced 2 bps higher to 6.75%. It closed at 6.73% on Tuesday, according to data on Bloomberg.
Market breadth was skewed in favour of buyers. Around 2,162 stocks declined, 959 stocks rose, and 112 stocks remained unchanged on BSE.
Spartan Capital Securities doesn't see oil prices gaining higher from current level, said Chief Market Economist Peter Cardillo. The key question is whether Iran and Israel will see a full scale war. Full scale war of Iran- Israel could engage oil producing countries in the region.
The oil market has not responded very highly to the Iran- Israel tensions. Oil traders are keeping in mind that the Organization of Petroleum Exporting Countries has enough spare capacity, Cardillo said.
US inventory data has reversed after 5-6 weeks of consecutive drops. The oil market is a wait and see situation right now, he said.
Domestic Advances rose 11.8% on the year at Rs 9.05 lakh crore.
Global Advances rose 13% on the year at Rs 9.42 lakh crore.
Domestic Deposits rose 10.9% on the year at Rs 12.7 lakh crore.
Global Deposits rose 11.4% on the year at Rs 13.1 lakh crore.
Domestic Business rose 11.3% on the year at Rs 21.8 lakh crore.
Global Business rose 12.1% on the year at Rs 22.5 lakh crore.
Transformers & Rectifiers (India) Ltd. received orders of Rs 565 crore from Power Grid Corp, it said in an exchange filing.
Hinduja Global Solutions Ltd. launched Global CX Hub in Cape Town, South Africa. It launched Global CX Hub to support international clients with next generation customer experience, it said in an exchange filing.
KPI Green Energy Ltd. received Chief Electrical Inspector's nod for 5 Megawatt of Solar Power Project under Captive Power Producer Segment, it said in an exchange filing.
J Kumar Infraprojects Ltd. received a Letter of Acceptance for design and construction project worth Rs 1,848 crore from MMRDA. The order is to be executed within 48 months, it said exchange filing.
The NSE Nifty 50 and BSE Sensex plunged 1% during the opening hours as the Securities Exchange Board of India introduces curbs to regulate Futures & Options trade. To know five reasons behind the benchmarks fall on Thursday click here.
India's coal production rose 32% on the year to 13.74 million ton from 10.40 million ton. Coal Dispatch rose 47% on the year to 14.27 million ton compared to 9.68 million ton, said the Ministry of Coal in a press release.
Coal dispatch rose 34% on the year to 87.86 million ton from 65.37 in the second half of the financial year 2024–25. The coal production rose 32% on the year to 79.72 MT from 60.52 MT.
July–September has shown 11% drop in real estate sales. Monsoons and election overhang impacted during the quarter, said Anarock Group Chairman Anuj Puri said.
Overhang of the inventory continues to go down. Price rise is continuing but it is coming to the inflation levels. Anarock is hoping to see a bounce back in the festive season, Puri said.
This calendar year will the best year for India in terms of office leasing, Puri said. India needs more developers to cater the demand.
Prime Minister Narendra Modi inaugurated GAIL (India) Ltd.'s compressed bio gas plant in Ranchi, it said in an exchange filing.
REC Ltd.'s total loan disbursed rose 13.7% to Rs 47,303 crore, it said in an exchange filing.
The Nikkei 225 and Topix ended 1.20% and 1.97% higher, respectively on Thursday after leading gains in the region. The indices gained strength as the export-orient country's currency declined after Prime Minister Shigeru Ishiba said the current economic condition of Japan doesn't support another rate hike.
Share indices in Australia concluded Thursday with gains. The index ended 0.09% higher at 8,205.20 as of 1:12 p.m.
The Hang Seng declined after snapping a six-day rally on Thursday as the euphoria from China unveiling stimulus fizzled out, reported South China Morning Post. The index was trading 1.39% down at 25,372.65 as of 1:01 p.m.
Rites Ltd. signed a memorandum of understanding with the Delhi Metro for exploring metro works, it said in an exchange filing.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
The Pound Sterling declined as much as 1.20% against the US dollar on Thursday after the Bank of England Governor Andrew Bailey said that it can go a bit more aggressive on rate cuts.
Bailey said while talking to the The Guardian that the UK central bank may become 'a bit activist' on interest rates if the news on inflation continued to be good.
The Euro was trading 0.05% higher against the greenback at 1.1039 as of 2:24 p.m.
The dollar index continued to rise on safe haven demand as tension escalated after Israel attacked central Beirut early Thursday. Market participant await the release of US weekly jobless claims data, due to be published today. The index was trading 0.27% higher at 101.88 as of 2:26 p.m.
ICICI Bank Ltd. submitted SEBI's exemption letter to NCLT in a green sealed cover. The letter is not submitted through an affidavit. The letter was sealed to protect sensitive information and prevent leaks, counsel said.
Bank Dhofar accepted offer for acquisition of Bank of Baroda's Oman operations, it said in an exchange filing.
The NSE Nifty 50 and BSE Sensex recorded their worst intraday loss Thursday since Aug 5.
Reliance Industries Ltd. and HDFC Bank Ltd. were top loser in the index.
The NSE Nifty Realty was the top losing sector as DLF Ltd., and Godrej Properties dragged.
The Nifty Pharma was the top performer in today's session with least decline. The index ended 0.51% lower at 23,178.75.
The NSE Nifty Midcap 150 ended 2.12% lower at 21,904.70.
The NSE Nifty Smallcap 250 ended1.90% lower at 18,179.20.
Market breadth was skewed in the favour of sellers. As many as 2,864 stocks fell, 1,120 rose, and 92 remained unchanged on the BSE.
US: Weekly Jobless Claims — 6:00 p.m. IST
US: Final Services PMI — 7:15 p.m. IST
US: ISM Services PMI — 7:30 p.m. IST
US: Factory Orders — 7:30 p.m. IST
US: Federal Reserve Bank of Kansas City President Jeffrey Schmid speaks at opening of the Community Banking Research Conference hosted by the Federal Reserve Bank of St. Louis — 7:30 p.m. IST
US: Weekly Energy Information Administration Natural Gas Storage — 8:00 p.m. IST
US: Federal Reserve Bank of Atlanta President Raphael Bostic speaks at the Institute Research Conference hosted by the Federal Reserve Bank of Minneapolis — 8:10 p.m.
December futures contract of Dow Jones traded 0.4% lower at 42,363.00 as of 3:30 pm when futures contract of S&P 500 was down 0.3% at 5,742.5 and that of Nasdaq 100 was 0.4% lower at 19,928.50.
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