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At 3:32 p.m., futures contract of Dow Jones was at 44,849.00, that of S&P 500 was at 6,084.75, and Nasdaq 100 was 21,469.25, all flat.
US: Non–Farm Employment Change — 7:00 p.m.
US: Unemployment Rate — 7:00 p.m.US: Average Hourly Earning — 7:00 p.m.
US: Federal Reserve Governor Michelle Bowman will speak at the Missouri Bankers Association Executive Management Conference — 7:45 p.m.
US: Preliminary University of Michigan Consumer Sentiment — 8:30 p.m.
US: Preliminary University of Michigan Inflation Expectations — 8:30 p.m.
US: Federal Reserve Bank of Chicago President Austan Goolsbee will speak at the Annual Economic Outlook Symposium in Chicago — 9:00 p.m.
US: Federal Reserve Bank of Cleveland President Beth Hammack will speak at the economic outlook at the City Club of Cleveland Friday Forum. — 10:30 p.m.
US: Federal Reserve Bank of San Francisco President Mary Daly — 11:30 p.m.
The NSE Nifty posted the biggest weekly gain since early June. On a weekly basis, the index has risen 2.23% in the week ended
The Nifty 50 and BSE Sensex extended gains to third week.
The NSE Nifty Metal rose the most. It ended 1.23% higher at 9,397.15.
The NSE Nifty Media declined the most. It ended 0.26% down at 2,078.50.
The NSE Nifty Midcap 150 ended 0.41% higher at 21,665.40.
The NSE Nifty Smallcap 250 ended 0.54% higher at 18,328.95.
Kalpataru Projects International Ltd. and subsidiaries get new orders worth Rs 2,174 crore, it said in an exchange filing.
Synergy Green Ltd. has signed a supply agreement with Envision Energy India for the manufacturing of wind turbine castings. This was disclosed through an exchange filing.
Landmark Cars has executed an asset transfer agreement to acquire a Kia showroom in Hyderabad. This was disclosed through an exchange filing.
Piramal Pharma's arm has signed a settlement agreement with VetDC for $407,400. This was disclosed through an exchange filing.
IKIO Lighting's arm, Royalux LLC, has entered into a Memorandum of Understanding with Metco Engineering for the supply of energy-saving products. This was disclosed through an exchange filing.
Stanley Lifestyles has opened its new flagship store, 'Stanley Level Next,' in partnership with Newmens Furniture, in Coimbatore, Tamil Nadu. This development was disclosed through an exchange filing.
Bajaj Auto Share Price Rises After Company Clarifies Freedom 125 Pricing, Sales Data
LTIMindtree Ltd. has announced the dissolution of its wholly-owned step-down arm, Syncordis SARL, in France. The company disclosed this development through an exchange filing.
Adani Wilmar Ltd. has announced the appointment of Shrikant Kanhere as the deputy chief executive officer of the company. In addition to his current role as Chief Financial Officer Kanhere will now assume the responsibilities of Deputy CEO, as per the exchange filing.
India's Monetary Policy Committee, chaired by RBI Governor Shaktikanta Das, decided to keep the benchmark repo rate unchanged at 6.5% and maintain its "neutral" stance. In a bid to ease liquidity pressures, the Committee has also reduced the Cash Reserve Ratio (CRR) by 50 basis points to 4%.
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The local currency rose 16 paise against the US dollar to 84.5700 on Friday. The Indian unit closed at 84.7325 a dollar on Thursday, according to data on Cogencis.
The yield on the 10-year bond rose 5 basis points to 6.73%. It closed at 6.68% on Thursday, according to data Bloomberg.
RBI Monetary Policy Live Updates: Repo Rate Unchanged At 6.5%, GDP Forecast For FY25 Slashed
The Reserve Bank of India Governor Shaktikantha Das to start address soon to announce policy decisions. Most market participants are expecting a status–quo.
In India, markets predict the RBI will hold the repo rate at 6.5% but may tweak the CRR to address high inflation and sluggish GDP growth in its meeting later today, said Ritesh Bhansali, director, Mecklai Financial Services Ltd.
India will most likely see a rate cut but will "definitely" see a cut in the cash reserve ratio, according to Jahangir Aziz, Head-Emerging Market Economics at JPMorgan.
Get live updates here.
Market breadth was skewed in favour buyers. Around 2,047 stocks advanced, 877 stocks declined, and 109 remained unchanged on BSE.
At pre–open, the NSE Nifty 50 was trading 0.09% higher at 24,729.45. The BSE Sensex was 0.15% higher at 81,887.54.
"The global cues are slightly negative as the U.S. markets came under some profit booking after hitting a fresh all time high," IFA Global Research Academy said.
Yesterday's weekly expiry with extremely volatile and the option premiums were quite elevated given an increase in VIX and market digesting the new expiry day margin norms, it said in a note.
Today's key focus will be the RBI's interest rate decision at 10 a.m. and that should keep the market participants on their feet. We expect the Nifty to trade between 24,150 to 24,850 with a neutral bias. Bank Nifty should remain more volatile today and we expect it to trade between 52,800 and 54,000, IFA Global Research Academy said.
Bitcoin prices fell below $100,000 mark as traders rushed to hedge after its historic rally on hope benign policies from the new administration in the US.
It was trading 1.60% down $97,445.76 as of 09:06 a.m.
The yield on the 10-year bond opened flat at 6.68%. It closed at 6.68% on Thursday, according to data Bloomberg.
Rupee Strengthened 7 paise to 84.66 against the dollar. It closed at 84.73 on Thursday, according to data on Bloomberg.
Economic activity points to growth below estimate in October and Q3
Less than1/4 of indicators pointing to growth above estimate, 54% suggest a miss
Discretionary spending by govt picked up, but on low base
Govt's discretionary spend will be helpful to push up growth
Slower growth in credit card, retail loans suggest softness in consumption
Vehicle, tractor sales and registrations suggest good festive demand in Oct
Early indicators suggest robust rural activity in November
Maintain Overweight, target: Rs 520, upside 43.6%
Hosted CFO Vikas Poddar in conference
Indos towers expects Vodafone Idea to clear Rs 35 billion dues by 4QFY25
Should drive higher dividends for FY25
5G rural rollout is still sometime away
No plans to repay debt as comfortable with current leverage
India key pick in EM and Asia-Pac, to be among best performing EMs in 2025
See 14% upside to Sensex by December, 2025 in base case
Long-term story gaining strength with steady government policy action
Strong earnings, macro stability, domestic flows support India's investment case
The calendar year 2025 is likely to be a stock pickers' market
Potential global growth risks, bunching up of IPOs, near-term growth concerns present challenges
Maintains Buy with target price of Rs 1045
Positive impact of menu interventions
Soft base in H2 to aid same store sales growth recovery
Operating leverage to start playing out as same store sales growth recovers
Expects same store sales growth to turn mid single digit positive in H2FY25
Management confident of outperforming peers
Gross margin impact in Q2 was temporary
Maintain overweight on Ultratech & ACC;
UltraTech Cement: Target price is Rs 13,470, which implied a 13% upside
ACC: target price is Rs 3,250, which implied a 43% upside
Ultratech Cement, Shriram Cement and Dalmia Bharat are up 10-13% since Nov-15
Likely reflects rising expectations of an acceleration in Central Gov't capex into FY25 end
Cement dealer checks suggest pricing has moved marginally at best
Cement Cos should deliver better QoQ numbers on higher volumes and operating leverage
Update our models for near-term trends and continue to prefer UTCEM (on growth) and ACC (on valuations)
Initiate coverage with a hold and a target price Rs 550, which implied a 6% upside.
Pioneer in both food delivery and quick commerce, but hasn’t been able to sustain its early mover advantage
Catching up on both growth and profitability could be challenging in light of the severe competitive intensity
FY24-27e, expect Swiggy’s food delivery to grow at a CAGR of 16%, and quick commerce to grow at c65%
Do not forecast EBITDA breakeven for the overall business before FY28e
Swiggy trades at a c35% discount to Zomato
Better than expected execution and valuation catch-up are key upside risks
Vishal Mega Mart sets IPO price band at Rs 74-78 per share
The bid for issue is to open on Dec 11 and close on Dec 13
Source: Company Statement
South Korean Stocks Tumble As Martial Law Chaos Jolts Market: Asia Market Wrap
US markets gave up gains in Thursday's session. The Dow Jones Industrial Average and S&P 500 ended 0.55% and 0.19% down, respectively. The Nasdaq Composite index ended 0.17% down.
The number people filing for unemployment benefits in the US rose 9,000 to a seasonally adjusted 224,000 in the week ended on Nov 29. Bloomberg reported that the number of claims rose to one–month high.
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