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.jpg?downsize=1080:540 "Stock Market Today: Nifty, Sensex Close Higher Ahead Of MPC Outcome As HDFC Bank, Infosys, RIL Gain")
December futures of the US indices rose as the markets await comments from FOMC Member Bostic and trade balance data. The S&P 500 futures rose 0.36% to 5,765.75, and the Dow Jones Industrial Futures rose 0.10% to 42,285.00 as of 3:29 P.M. The Nasdaq 100 futures rose 0.43% to 20,077.75 as of 3:41 p.m
US: Trade Balance
US: FOMC Member Bostic Speaks
Europe: German Buba President Nagel Speaks
Rupee strengthened by 2 paise to close at 83.96 against the US dollar.
It closed at 83.98 on Monday.
Source: Bloomberg
Nifty and Sensex came out of their six-session losing streak ahead of MPC outcome
Nifty ends 0.97% or 239.65 points higher at 25035.40
Sensex ends 0.8% or 673.3 points up at 81723.30
Broader indices outperformed benchmarks; Nifty Midcap 100 ended 2.3% up and Nifty Smallcap 250 closed 2.25% higher
Except Nifty Metal, all indices ended higher
Trent and Bharat Electronics were top Nifty gainers
SBI Life and Tata Steel fell the most
Olectra Greentech, in an exchange filing said that the Himachal Pradesh Road Transport Corp is yet to declare least quoted bidder. The company has clarified on reports of getting order to supply 327 electric buses to HP government.
In the September quarter, Tata Motors' global wholesales fell 11% year-on-year to 3.04 lakh units and passenger vehicle global wholesales fell 6% to 1.31 lakh units, an exchange filing said.
Most of the indices in the Asia-Pacific regions closed Tuesday on a negative note except CSI 300, which added nearly 6%, extending its gains for another session after the news of government's measures to boost the economy. Intraday, the index had climbed 10% but it pared gains after country’s National Development and Reform Commission gave less details on further stimulus in a press breifing.
Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng fell 9%, South Korea's Kospi fell 0.6%, and Australia's S&P ASX 200 was 0.35% lower at close.
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Stainless steel sales volume for the quarter ended September grew 11% quarter-on-quarter and aluminium foil sales volume grew 12% while sponge iron sales volume were 1% up.
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As India's blue-chip companies will kick-start reporting the results of their second-quarter earnings from Oct. 10, led by Tata Consultancy Services Ltdd. investors in Indian stocks might be in for more turbulence amid economic concerns and foreign flows as India Inc. will likely post muted earnings for the second quarter.
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Share price of Vodafone Idea will remain in focus today as it clarified on the report of not submitting bank guarantees. The company said it has made detailed representations to telecom department and that it continues to engage with DoT on removal for bank guarantee, an exchange filing said.
"Market is expected to open on a weak note due to significant declines in global markets," said Vikas Jain, head of research at Reliance Securities.
The yield on the 10-year bond opened 2 basis points lower at 6.83% after it closed at 6.85% on Monday, according to Cogencis.
The local currency opened 2 paise higher against the US dollar at 83.96 on Tuesday after the Indian unit closed at 83.98 a dollar on Monday, according to Cogencis.
Morgan Stanley said that it is incrementally more concerned on oil price and global growth risk to cyclical markets an China policy easing is important but valuations have re-rated substantially. It said that geopolitical risks, US elections, 2025 policy uncertainty prime concerns. According to the brokerage, India remains largest overweight and it has scale back underweight China position for pan asia/ EM investors to -50 bps.
China Stocks Lose Steam On Lack Of Big Bang Fiscal Measures: Asia Markets Wrap
Shares of Ola Electric Mobility are likely to extend its fall to another session as it was served a notice by Central Consumer Protection Authority for alleged violation of consumer rights, misleading advertisement, and unfair trade practices. Those of Hi-Tech Pipes and Jubilant Ingrevia will react to the news of fundraise.
HDFC Bank's stock will move as investors assess the sale of HDFC Edu to Vama Sundari Investments for Rs 192 crore and that of Bharat Electronics and Nuvoco Vistas are expected to rise on order wins.
Puravankara's stock will move on news that it will acquire a three-acre land parcel in North Bangalore for a residential project. Share price of Tata Motors will react to JLR quarterly numbers, Nykaa and Sobha Realty will also move after the release of quarterly business update.
CLSA had upgraded its rating for shares of Mahindra & Mahindra Ltd. to outperform and had hiked its target price to to Rs 3,400 implying 11% upside. The brokerage said improved scale, superior mix and better pricing drove auto margins and going ahead it expects better scale and average selling price given new models. CLSA also expects domestic tractor industry to revive and has raised expectations of earnings per share by 5% each for FY25 & FY26.
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