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The S&P 500 futures fell 0.13% to 5,833.50, and the Dow Jones Industrial Futures declined 0.10% to 42,771.00. The Nasdaq 100 futures fell 0.16% to 20,431.50 as of 3:29 p.m. IST.
Europe: ECB Monetary Policy Meeting Accounts
US: Core CPI Month-On-Month
US: CPI Month-On-Month, Year-On-Year
US: Unemployment Claims
US: FOMC Member Cook Speaks
US: FOMC Member Barkin Speaks
US: Natural Gas Storage
US: FOMC Member Williams Speaks
US: 30-Year Bond Auction
-Rupee weakened by 2 paise to close at 83.98 against the US dollar.
-It closed at 83.96 on Wednesday.
Source: Bloomberg
Nifty and Sensex pare opening gains and close near day's low
Investors await quarterly earnings of TCS and US CPI data due Thursday
Nifty ends 0.07% or 16.50 points up at 24998.45
Sensex ends 0.18% or 144.3 points higher at 81611.41
Broader indices were mixed; Nifty Midcap 100 ended 0.3% down and Nifty Smallcap 250 closed 0.1% higher
Most sectoral indices end lower; Nifty Pharma fell the most and Nifty Bank was top gainer
Kotak Bank and HDFC Bank were top Nifty gainers
Cipla and Tech Mahindra fell the most
The mutual fund industry saw net outflows of Rs 71,114.08 crore in the month of September, according to data published by Association of Mutual Funds in India. The flows fell further after the 42.8% decline in August. The cumulative inflows into mutual funds was Rs 1.08 lakh crore in August.
With a return of 170%, Trent Ltd. has been Tata Group's flag-bearer amid Indian equities' bull run so far this year. It took the spot of the best performing Nifty 50 constituent, as it entered the benchmark during its half yearly rejig, which was reflected on Oct. 1.
Click here to find out how Tata group stocks have performed this year
Alkem Laboratories has signed a pact with Sonnet BioTherapeutics Holdings to develop drug candidate SON-080 for Diabetic Peripheral Neuropathy in India, an exchange filing said.
Asian markets ended in the green on Thursday after a rally in US stocks had uplifted the sentiment at open. Hong Kong's Hang Seng gained the most around 3% to close at 21,265.8 after ending lower in the last two sessions.
Japan's Nikkei was 0.3% higher to close at 39,380.89, South Korea's Kospi ended 0.2% up at 2,599.16, and China's CSI 300 ended 1% up at 3,997.79. Australia's S&P ASX 200 ended 0.4% up at 8223 points.
Bhavish Aggarwal Mourns Ratan Tata's Demise, Reflects On Key Role In Shaping Ola Electric
During the September quarter, Bank of Maharashtra total business grew 16.9% year-on-year to Rs 4.94 lakh crore, total deposits were up 15.5% to Rs 2.76 lakh crore, gross advances rose 18.7% to Rs 2.17 lakh crore, and CASA ratio was at 49.29% lower than 49.86% it reported in the year ago period.
NBCC has received work order of Rs 198 crore for supply & installation of rooftop solar system in Jharkhand, an exchange filing said. The name of client is SAIL Bokaro Steel Plant.
Suzlon Energy has partnered with Jindal Renewables for 400 MW captive wind power deal, an exchange filing said and added that partnership with Jindal Renewables to lead decarbonisation of steel production.
India's largest IT firm Tata Consultancy Services Ltd., state-owned Indian Renewable Energy Development Agency Ltd. and Tata Elxsi Ltd. will kick-start India Inc.'s earnings season for the second quarter on Thursday.
As many as 12 companies, are set to announce their quarterly results for the three-month period ending September 2024.
Find out live quarterly earnings updates here.
PNC Infratech Share Price Hits Nearly One-Month High After Bagging Rs 2,090-Crore Order
Customer collections from real estate business at Rs 1,033 crore compared to Rs 879 crore, an exchange filing said. It added that total Sales rose 18% to Rs 1,331 crore compared to Rs 1,128 crore (QoQ).
TCS, Tata Motors, Tata Chemicals And Other Group Stocks Hold Steady After Ratan Tata's Demise
TCS Q2 Results: Post Earnings Press Conference Cancelled After Ratan Tata’s Death
Star Health Share Price Falls After Company Confirms Data Breach
JP Morgan, in a report on telecom industry said it has upgraded Vodafone Idea to 'Neutral' from 'Underweight' and raised its target to Rs 10 from Rs 7, implying upside of 8.3%.
The brokerage's new pecking order is Indus towers, Bharti Airtel, Bharti Hexacom and Vodafone Idea. The brokerage said unfavourable AGR ruling necessitates annual tariff hikes for Vodafone Idea and tariff repair is needed to reach average trend of Asian peers.
The brokerage has baked in tariff hikes of 15% in FY27 for all three telcos. Bharti Airtel is top telco pick, rated overweight and a revised target of Rs 1580, implying downside 6%
Indus towers is also JP Morgan's top overall pick in telcos and tower companies and has been rated overweight with higher target of Rs 525 from Rs 500, implying upside of 41%.
TCS Likely To See Soft Business, Infosys To Increase Guidance — What Analysts Expect From IT In Q2
At pre-open, Nifty 50 was at 25067.05, up 0.34% or 85.10 points and Sensex was at 81839.56, up by 0.46% or 372.46 points. In a report, SBI Securities said that currently for Nifty 24870-24850 will act as an important support & till 24850 holds, we can see index move towards 25200-25220.
"A surge above 25220, index can move towards 25290-25310 zone,"the report said. "On breakdown & sustenance below 24850, further correction up to 24720-24700 will be on the cards."
The yield on the 10-year bond opened flat at 6.77%. It closed at 6.77% on Wednesday.
Source: Bloomberg
Rupee strengthened by 2 paise to open 83.94 against the US dollar. It closed at 83.96 on Wednesday.
Source: Bloomberg
Jefferies estimates a modest Q2FY25 for our SMID coverage, with 13% year-on-year PAT growth. It said that while B2C & rural offtake is likely weak, B2B traction seems steady. The brokerage estimates healthy volumes in Polycab, Finolex cables, Supreme Industries and Astral and strong year-on-year traction in Kaynes and Dixon led by strong order book and customer adds.
For Crompton, it has estimated 6% YoY sales growth due to higher B2C mix and Pidilite on likely price rollbacks. Festive demand will be key to watch out for, it said.
'Vulnerable' Indian Stocks Get Bernstein Downgrade On Near-Term Concerns
Ratan Tata, the Indian business leader who served as chairman of the Tata Group from 1991 to 2012, has passed away on Wednesday. He was 86. Born on Dec. 28, 1937, in Bombay (now Mumbai), Tata graduated from Cornell University in 1962 with a degree in architecture and later attended Harvard Business School.
Maharashtra Chief Minister Eknath Shinde on Wednesday said industrialist Ratan Tata will be accorded a state funeral. Talking to reporters, Shinde said Tata's relatives have informed that his mortal remains will be kept at the NCPA in south Mumbai from 10 am to 4 pm on Thursday for people to pay respect.
Click here to read more.
Bharat Petroleum Corp's stock is expected to rise after the announcement of Andhra Pradesh Chief Minister N. Chandrababu Naidu regarding investment of Rs 85,000 crore on a refinery in the state. Adani Enterprises share price will react to the fund raise news. While Star Health and Allied Insurance Co is likely to fall after data breach issue. Britannia Industries will rise on opening cheese factory in Ranjangaon, Maharashtra, dedicated to producing The Laughing Cow products and GR Infraprojects will rise on the news of order win.
GTPL Hathway Q2 Results: Net Profit Plunges Nearly 62%
Comex Gold December futures contract traded flat at $2,626.60 after it fell for the sixth straight session Wednesday amid advancing dollar and less expectations for a larger rate cut in November.t
Macquarie continues to see earnings expectations fatigue and downside to the consensus forecast and sees more misses than beats in 2Q, particularly in sectors including consumer discretionary, materials and financials. It said it continues to forecast a 15% two-year EPS CAGR for MSCI India. On revenue side it sees limited potential for positive surprises following sharp upward revisions and on margins side it sees upside potential in IT. Margins side concerns about the operating leverage gains assumed for Autos and Industrials, it said.
RIL's Q2 Earnings To See Rough Weather On High Crude Oil Supply, Says Morgan Stanley
Asian Stocks Advance As Wall Street Soars To Record Ahead Of CPI Data
Indices in the US ended higher Wednesday as traders prepared for inflation data. On Wednesday, the S&P 500 at 5,792.04 and Dow Jones Industrial Average settled 1.03% higher at 42,512, there highest close. Nasdaq Composite ended 0.71% up. The US September’s CPI report, due Thursday, will provide clues for Fed action.
On Wednesday, India's benchmark equity indices were back in the red after one session of ending higher as they erased gains in the last hour to close near Wednesday's lowest levels.
Intraday, the indices had risen as much as around 1.2% after the RBI's monetary policy meeting changed the liquidity stance to 'neutral' from 'withdrawal of accommodation earlier, signalling a potential rate cut. The weekly futures contract of Nifty Bank closed flat on expiry day.
The Nifty ended 0.12% or 31.20 points lower at 24,981.95 and Sensex lost 0.21% or 167.7 points down at 81,467.10.
Overseas investors remained net sellers of Indian equities for the eighth consecutive session on Wednesday, while domestic institutional investors bought stocks worth Rs 3,508.61 crore.
According to provisional data from the National Stock Exchange, FPIs offloaded stocks worth Rs 4,562.71 crore.
The Indian rupee closed flat at 83.96 against the US dollar.
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