US: Federal Reserve Bank of Cleveland Inflation Expectation
US: NFIB Small Business Index — 4:30 p.m.US: Federal Reserve Governor Christopher Waller will speak at Clearing House Annual Conference, in New York — 8:30 p.m.
US: Federal Reserve Bank of Richmond President Thomas Barkin will speak at the Baltimore Together Summit — 8:45 p.m.
US: Federal Reserve Bank of Minneapolis President Neel Kashkari will speak — 12:30 a.m.
US: Federal Reserve Bank of Philadelphia President Patrick Harker will speak Carnegie Mellon University in Pittsburgh — 3:30 a.m.
US: Federal Reserve Bank of Richmond President Thomas Barkin will speak at Salisbury Wicomico Economic Development, in Maryland — 4:00 a.m.
Japan: PPI — 5:20 a.m.
Australia: Wage Price Index — 6:00 a.m.
China: Foreign Direct Investment
UK: External BOE MPC Member Catherine Mann will speak at BNP Paribas Global Markets Conference in London — 3:15 p.m.
As of 3:41 p.m., the Dow Jones Industrial Average future was 0.13% down at 44,383.00, and the S&P 500 future was 0.22% down at 6,018.75. The Nasdaq 100 future was 0.22% down at 21,171.75.
Market breadth was skewed in favour of sellers. Around 2,734 stocks declined, 1,235 stocks advanced, and 92 stocks remained unchanged on BSE.
The NSE Nifty 50 ended at the lowest level since June 25.
The BSE Sensex ended at the lowest level since Aug 6.
The Nifty 50 and Sensex declined for four consecutive sessions.
HDFC Bank Ltd., State Bank of India, and NTPC Ltd. are top dragger of the Nifty 50 index.
Infosys Ltd., and ICICI Bank Ltd., and Trent Ltd. share prices were top contributors to the Nifty 50 index.
The NSE Nifty Auto led losses, while the NSE Nifty Realty emerged as the top gainer.
The NSE Nifty Midcap 150 ended 0.91% down at 20,560.60.
The NSE Nifty Smallcap 250 ended ended 1.28% down at 17,196.40
State Bank of India plans to raise up to Rs 10,000 crore via infrastructure bond issue
It will likely to issue 15-year infra bonds next week.
Alert: This is the third tranche of infra bonds issued by the bank. SBI has already raised Rs 20,000 crore through infra bonds
Source: Merchant bankers
Both the global and local backdrops have not been good for Indian equities. Globally, markets witnessed the dollar index rose sharply, which is negative for entire emerging market universe. The Greater China market is getting re-rated due to stimulus packages. There has been re-allocation from India to Greater China, said Manishi Raychaudhuri, veteran investors.
In case of India, earning estimates are coming down, domestic consumptions, particularly urban consumptions have been moderating. The commentary on the Indian consumer companies are not appearing very upbeat, Raychaudhuri said in an interview to NDTV Profit
Dilip Buildcon's consortium has been declared the lowest bidder for the BharatNet project worth Rs 1,625 crore, according to an exchange filing.
The Pound sterling fell to the lowest level against the US dollar since Aug 9 after unemployment data. UK's unemployment rate rose 4.3% in three months to September, against an estimate of 4.1%.The data raised concerns about the country's labour market.
The Pound sterling was trading 0.38% lower at 1.2819 a dollar as of 2:26 p.m. The euro was 0.22% down at 1.0632 a dollar.
Alembic Pharmaceuticals Ltd. has received the final approval from the US Food and Drug Administration for Ivabradine tablets, according to an exchange filing.
Ivabradine tablets are used in to treat heart failure and its symptoms.
Azad Engineering Ltd. has signed a $40 million supply pact with Arabelle Solutions, the company said in an exchange filing.
Servotech Power Systems Ltd. has received an order for a 2 megawatt on-grid solar power plant from Uttar Pradesh, according to an exchange filing.
Hindalco Shares Surge After Strong Q2 Earnings Beat Expectations
UPL Share Price Sees Best Day In Six Months After Nuvama's 'Buy' Upgrade
NBCC (India) Ltd. has received work orders worth Rs 449 crore, according to an exchange filing.
Securities Exchange Board of India approved the initial public offer Of Inventurus Knowledge, Manjushree Techno, it said in an exchange filing.
Unicommerce Esolutions Ltd. is set to acquire the e-commerce technology platform Shipway, the company said in an exchange filing.
Awfis Space Solutions Ltd. won a contract to design, build and manage 1.65l sq ft new office space for National Stock Exchanges Ltd. in BKC, Mumbai, it said in an exchange filing.
Larsen & Toubro Ltd.'s unit gets 'limited notice to proceed' for thermal power projects worth over Rs 15,000 crore from NTPC Ltd.
Sagility India Shares List At 3.5% Premium Over Issue Price
LIC Share Price Gains After JPMorgan Raises Target Price
Jubilant FoodWorks Share Price At Over One-Month High As Analysts See Bright Spots In Q2 Results
Market breadth was skewed in favour of buyers. Around 2,077 stocks advanced, 846 stocks declined, and 108 stocks remained unchanged on BSE.
At pre–open, the NSE Nifty 50 was 0.35% or 84.50 points higher at 24,225.80, and the BSE Sensex was 0.19% or 14880 points higher at 79,644.95.
The yield on the 10-year bond opened flat at 6.83%. It closed at 6.82% on Monday, according to data on Bloomberg.
Rupee opened flat at 84.39 against the US dollar. It closed at 84.388 on Monday, according to data on Bloomberg.
Gold prices were trading near one–month low in Asian trade. The Bloomberg spot gold price fell to $2,610 the lowest level since Oct 10 on Monday as the dollar index rose.
A rise in the greenback makes the bullion expensive for other currency holders.
The Bloomberg spot gold was 0.16% higher at $2,62308 an ounce.
JPMorgan doubled upgrade to 'overweight', increases target price to Rs 1,075
Double upgrade to 'overweight' on strong VNB growth from enhanced product mix
LIC India will likely continue to outweigh negative impact from higher product benefits, lower bond yields
JPMorwgan revised VNB forecasts for financial year 2025 and 2026 by 9% and 11%, respectively
LIC India's weaker margins in par segment or moderation in mix enhancement are key risks
Bitcoin surpassed $89,000 mark in Asia session as hopes of positive development for the digital asset under Donald Trump's presidency fuelled investors' sentiment for the asset, Bloomberg reported.
However, bitcoin erased gains to put a stop to its record rally. The Bloomberg spot Bitcoin was trading 0.34% down at $87,710.92 as of 8:34 a.m.
Most Asia–Pacific currencies declined against the greenback as the dollar index remained strong around the highest level since July 3. The dollar index was trading 0.03% higher at 105.57 as of 08:13 a.m.
The Indonesian rupiah was the worst performing currency so far on Tuesday. It was down 0.55% against the US unit at 15,775 as of 08:06 a.m. Investors in the country await retail sales data for September.
Malaysian ringgit and Thai baht were other top losers among Asia–Pacific currencies. The currencies were 0.44% and 0.37% down respectively against the US dollar.
Bucking the trend, the South Korean Won rose 0.05% against the US dollar as of 08:09 a.m.
Oil future prices extended losses to Tuesday as demand outlook remained bleak after China's stimulus did little to give confidence about reviving the weak consumption in the world's top oil importing country.
The January contract of brent crude was trading 0.19% lower at $71.69 a barrel as of 7:43 a.m.
On Monday, the benchmark future price declined over 3%, according to Bloomberg.
Market participants await monthly oil market report from Organization of Petroleum Exporting Countries and allies.
Retain Buy with TP 765 vs 710 earlier, Upside 18%
Strong performance in product business led by ACs up 211% YoY
Management raised their revenue/PAT guidance by 16%
Co's expansion & strategic investments in innovation are clearly paying off
Expect Co to post a revenue/PAT CAGR of 29%/43% over FY24–27E
Values stock at 50x Dec-26E EPS
Inox Wind Ltd. repeated order from Continuum Green Energy for 87 megawatt, it said in an exchange filing.
Japan's benchmarks outperformed in the Asia–Pacific as the yen continued to fall against the US unit. The Nikkei 225 was trading 185.10 points or 0.47% higher at 39,718.42 as of 07:14 a.m.
Moreover, Japan's Prime Minister Shigeru Ishiba pledged more than $65 billion support for the country's semiconductor and artificial intelligence segments' development over the next decade, Bloomberg reported.
Meanwhile, the KOSPI and S&P ASX 200 declined 0.71% and 0.41% down, respectively as of 7:14 a.m.
The Dow Jones Industrial Average crossed 44,000 mark for first time, and S&P 500 topped 6,000 mark for first time.
The Dow Jones Industrial Average ended 0.69% higher at 44,293.13. The S&P 500 ended 0.10% higher at 6,001.35.
The Nasdaq Composite ended 0.6% higher at 19,298.77.
Nifty, Sensex End Little Changed As Asian Paints, RIL Weigh; Banks Cushion: Market Wrap