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Europe: PPI — 3:30 p.m. IST
Europe: ECB President Christine Lagarde will speak in Frankfurt — 7:30 p.m. IST
US: Energy Information Administration Weekly Crude Oil Inventory Report — 9:00 p.m.
At 3:27 p.m. futures contract of Dow Jones rose 2.7% to 43,539.00, that of S&P 500 was 2.2% higher at 5,945.25, and Nasdaq 100 was 1.9% higher at 20,718.00.
Market breadth was skewed in the favour of buyers. As many as 3,013 stocks rose, 961 fell, and 89 remained unchanged on the BSE.
The NSE Nifty 50 and BSE Sensex ended at the highest level in over two weeks.
The Nifty 50 recorded the best intraday jump since Sept 20. The Sensex logged the best intraday gain since Oct 28.
The Nifty 50 and Sensex rallied as markets across Asia, Europe gained amid ongoing US election vote count.
Infosys Ltd., Tata Consultancy Services Ltd. and Reliance Industries Ltd were top leaders in the Nifty 50 index.
HDFC Bank Ltd., Titan Co. Ltd. and SBI Life Insurance Co. were top losers in the benchmark index.
The NSE Nifty IT jumped the most in over three months with 4.16% intraday rise. The index ended 3.99% higher at 42,039.50.
The Nifty was the best gainer, while the NSE Nifty Finance was the worst performing sector.
The NSE Nifty Midcap 150 ended 2.09% higher at 21,298.50
The NSE Smallcap 250 ended 1.88% higher at 18,027.15.
The Euro slumped over 2% and touched the lowest level in over four months against the US dollar on Wednesday. The currency declined 2.08% to 1.070 a dollar, the lowest level since June 28. As of 2:31 p.m., the Euro was trading 1.41% down at 1.0776 a dollar as of 2:27 p.m.
The Pound sterling declined 1.50% to 1.2847 a dollar, the lowest level since Oct 31. The UK currency was trading 0.94% down at 1.2919 a dollar as 2:27 a.m. IST
Sterling Tools Ltd. partnered with GLVAC to manufacture advance high voltage DC contactors and relays in India for electric and hybrid Vehicles, it said in an exchange filing.
Margin at 21% versus 17.9%.
Ebitda down 4.6% at Rs 203 crore versus Rs 213 crore.
Revenue down 18.7% at Rs 967 crore versus Rs 1,189 crore.
Net profit down 4.8% at Rs 97.2 crore versus Rs 102 crore.
RRP Semiconductors Ltd. received order worth Rs 440 crore from telecrown Infratech for silicon solar cells, it said in an exchange filing.
Cyient DLM Ltd. partnered with Honeywell Aerospace Tech to provide aircraft cooling technology, it said in an exchange filing.
As of 12:45 p.m., the Dow Jones Industrial Average was trading 1.95% higher at 43,206.00. The S&P 500 future was 1.82% higher at 5,918.00.
The Nasdaq 100 future was trading 1.76% higher at 20,697.00.
Net Profit rose 72.1% to Rs 18.1 crore vs Rs 10.5 crore
Margin at 6% vs 3.6%
Ebitda rose 58.2% to Rs 42.3 crore vs Rs 26.7 crore
Revenue fell 5.4% to Rs 706 crore vs Rs 746 crore
For latest updates on second quarter earning releases click here
Thaai Casting Ltd. received orders worth Rs 154 crore for supply of automative and non-automative products, it said in an exchange filing.
The rupee weakened to a record low of 84.25 against the US dollar. The domestic currency depreciated by 15 paise during the day. The unit hits a record low for the third consecutive session, according to data on Bloomberg.
The dollar index rose 1.74% during the day to 105.22; Bloomberg dollar index hits a one-year high. This weighed on the Asian currencies with the Japanese Yen, and Thai Bhat leading losses.
Sagility India IPO Day 2 Live Updates: Booked 35%, GMP Flat
Gold spot and future prices erased gains from early trade as a rise in the dollar index and US treasury yields weighed on the commodity. The dollar index and the yield on the benchmark 10–year US Treasury note are hovering around four–month high as early vote counts are projecting Donald Trump's win for the presidential election.
A rise in US dollar makes the bullion expensive for other currency–holder countries, subsequently weighs on its demand. A rise in US treasury yields, considered a safe–haven asset, reduces charm of Gold.
The Bloomberg spot Gold was trading 0.31% down at $2,735.44 an ounce as of 11:48 a.m., according to data on Bloomberg.
The December future contract of Gold was trading 0.24% down at $2,743.60 an ounce as of 11:37 a.m.
The IPO was subscribed 0.04 times as of 10:54 a.m. on Wednesday.
Qualified institutional buyers: Nil.
Non-institutional investors: 0.02 times or 2%.
Retail investors: 0.20 times or 20%.
Portion reserved for employees: 0.30 times or 30%.
Swan Energy Ltd. and arms have no assets or business ops in Myanmar. The company has no association or affiliation with Asia Sun Trading. Its operation remain focused on our core sectors, aligned with compliances, it said in an exchange filing.
Swan Energy clarified on reports stating association with Asia Sun Trading.
Rupee Hits Record Low Amid US Election Uncertainty, Strong Dollar
Market breadth was skewed in favour of buyers. Around 2,252 stocks advanced, 648 stocks declined, and 116 stocks remained unchanged on BSE.
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
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 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
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 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.
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.
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 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.
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
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
Asian Stocks Mirror Wall Street Gains As Investors Brace For Tight US Election Results
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.
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