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.jpeg?downsize=1080:540 "Stock Market Today: Nifty, Sensex Extend Losses To Second Session As Infosys, M&M Decline")
The futures contract of Dow Jones traded 0.08% down at 42,982.00, those of S&P 500 was up 0.03% at 5,864.50 and Nasdaq 100 also rose 0.1% to 20,362.50 as of 3:29 p.m.
US: Import prices — 6:00 p.m. IST
Australia: CB Leading Index — 8:00 p.m. IST
Market breadth was skewed in the favour of buyers. As many as 2,032 stocks rose, 1,926 declined, and 110 remained unchanged on the BSE.
The NSE Nifty 50 and BSE Sensex extended their losses to second day.
During the session, the Nifty 50 declined 0.59% to 24,908.45, and the Sensex declined 0.56% to 81,358.26.
Infosys Ltd. and Mahindra & Mahindra Ltd. were top draggers in the Nifty 50 index.
HDFC Bank Ltd. and Reliance Industries Ltd. shares were top gainers in the Nifty 50 index.
On Nifty bank expiry day, the NSE Nifty Bank declined as much as 0.38% at 51,711.20. The index settled 0.21% down at 51,796.40 on Wednesday.
The NSE Nifty Realty was the top sectoral performer while the NSE Nifty Auto was the worst sectoral performer.
The NSE Nifty Midcap 150 ended 0.29% lower at 22,064.40.
The NSE Nifty Smallcap 250 ended 0.18% higher at 18,501.05.
025-26 Rabi MSP Hike To Cost Rs 87,657 Crore
Govt Hikes Rabi Wheat MSP By Rs 150/100 Kg
Govt Hikes Rabi Mustard MSP By Rs 300/100 Kg
Govt Hikes Rabi Chana MSP By Rs 210/100 Kg
Govt Hikes Rabi Masur MSP By Rs 775/100 Kg
Govt Hikes Rabi Barley MSP By Rs 130/100 Kg
Govt Hikes Rabi Safflower MSP By Rs 140/100 Kg
Source: Cabinet Briefing
Bharti Airtel Ltd.'s Airtel Business and Vonage Partner is to launch Airtel IQ Business Connect. Airtel IQ Business Connect is a unified business communications application, the company said in an exchange filing.
Shilpa Medicare's US-based CDMO customer gets Fast-Track Designation from US FDA for its investigational drug candidate for Glioblastoma, the company said in an exchange.
The Pound sterling declined to the lowest level since August 20 on Wednesday after UK's inflation dropped sharply in September fuelling hopes that the Bank of England will cut interest rates in November.
The Pound sterling declined 0.70% to 1.2983 a dollar so far today. As of 2:23 p.m. IST, the British currency was trading 0.57% lower at 1.2999 against the greenback.
UK CPI declined to 1.7% in September, from 2.2% in August, data from Office For National Statistics showed on Wednesday.
The Euro and Australian Dollar were trading 0.10% and 0.24% down, respectively as of 2:23 p.m. IST
Citi Research kept a sell with a target price Rs 3,600 compared to Rs 3,125 earlier, which implied a 21% downside.
Core PBT was +45% YoY (+2% above Citi)
Favourable shift towards high-yielding activelymanaged equity-oriented mix
Market share trends have stabilized
Expect stabilization in earnings trajectory over medium-term; Rollover to Sep 2026 estimated
Wockhardt Share Price At Over Eight-Year High After Filing Insulin Injection With Regulator
Bombay High Court dismissed $31 million case of IndiGo insurers against Janus Aviation.
Incident involved damage to Indigo Airlines aircraft in 2018.
Janus Aviation’s step ladder hit the plane during strong winds.
Insurers compensated Indigo, then sued Janus for negligence.
No privity of contract between insurers and Janus.
Not classified as a commercial dispute under the law.
Appeal was denied, insurers couldn’t recover damages.
ICICI Prudential Life Insurance Co. Ltd. is to consider fundraising via bonds on Oct 22, it said in an exchange filing.
South Indian Bank Share Price Surges As Q2 Net Profit Beats Estimates
Track live updates of second quarter earning releases from Bajaj Auto, L&T Technology Services Ltd., and Mphasis Ltd. in NDTV Profit's live earning blog.
On Wednesday, Bajaj Auto, Crisil Ltd., Himadri Speciality Chemical, L&T Technology Services, and Mphasis will release its quarterly results.
Bigbloc Construction Ltd. started Tria Operations at Umargaon facility. The facility had been undergoing upgrades since May 2024, it said in an exchange filing.
Ugro Capital partnered with United States International DFC to increase finance inclusion in India. The company plans to raise Rs 330 crore loan from USDFC to empower the Last-Mile MSMES. The DFC Stands For Development Finance Corporation, the company said in an exchange filing.
Staple companies to have better volume growth in the second half of the financial year 2025. Sharekhan By BNP Pariwas expecting rural to do better than urban. Focus on large companies like HUL, ITC Dabur if rural recovery is back, Kaustubh Pawaskar, deputy vice president said in an interview to NDTV Profit.
Revenues will see mid single digit growth. Revenue will be predominantly driven by volumes. Ebitda margin growth to be lower on account of higher raw material prices, Pawaskar said.
Value fashion companies are expected to do well in the coming years, he said.
Dmart is largely being impacted due to degrowth of non FMCG segment, he said.
Akums Drugs & Pharmaceutical Ltd. signed a licence and distribution pact with triple hair to develop and market its products in India, it said in an exchange filing.
Shyam Metalics & Energy Ltd. commenced operations of coke oven plant at Jamuria, West Bengal, it said in an exchange filing.
India is facing an acute shortage of peak demand power. White Oak Capital believes structural solutions to power will be in grid batteries. Ways to play the power theme are through power financiers, utility companies, said Chief Investment Officer Ramesh Mantri.
White Oak Capital is seeing some slowdown in high-frequency indicators over the past few months. One needs to look at asset allocation closely with a balanced approach, Mantri said.
Asian Stocks Mirror Wall Street Plunge On Tech Weakness
Rallis India Q2 Results: Profit Jumps 20%, Margin Expands
Larsen & Toubro Ltd.'s civil infrastructure vertical received an order in the range of Rs 1,000-2,500 crore for Agra Metro Network, it said in an exchange filing.
While Indian equities' benchmark Nifty 50 pared over 4% from its lifetime high levels in September, most actively managed large-cap funds faced a relatively muted decline. Though the outperformance of actively managed mutual funds amid market downturns is well recorded, the same has not held true amid uptrends over longer periods. However, the calendar year 2024 so far has seen an unusual flip in.
Read more here
BEML Share Price Gains After Rs 867-Crore Bullet Train Order
BSE Share Price Falls After Jefferies Cuts Rating To 'Underperform'
Strides Pharma Unit Gets Investment Commitments Of Rs 801 Crore Ahead Of Planned Listing
Cochin Shipyard Share Price Falls As Government Plans To Sell 5% Stake
Market breadth was skewed in favour of buyers. Around 1,587 stocks rose, 1,021 stocks declined, and 143 stocks remained unchanged on BSE.
At pre–open, the NSE Nifty 50 was trading 0.19% down at 25,008.55, and the BSE Sensex was 0.21% down at 81,646.60.
The yield on the 10-year bond declined 2 bps to 6.75%. It closed at 6.77% on Tuesday, according to data on Bloomberg.
Rupee opened flat at 84.05 against the US dollar. It closed at 84.04 on Tuesday, according to data on Bloomberg.
Most indicators were weak but showed improvement on a M-o-M basis
Container volumes, air traffic and engineering exports grew steadily
Coal offtake and petrol, diesel demand showed flattish to low single digit growth
New capex intention picked-up in Q2 resulting in 1H being flat on annualised basis
Cochin Shipyard Ltd. share price is expected to move in Wednesday's trading session due to the news the Government of India is set to divest 5% stake in the company through an offer for sale. The offer will open on Wednesday and conclude on Thursday. To know more click here.
The GIFT Nifty continued to hover around 25,000 in the pre–market hour. The GIFT Nifty was trading 0.07% or 18 points lower at 25,036.00 as of 08:34 a.m.
Asian currencies rose on Wednesday as investors await rate decision from the Indonesia, Philippines, and Thailand. Bank Indonesia, Bank of Thailand are likely to keep their benchmark rates on hold, while Bangko Sentral ng will likely go for 25–basis–point rate cut, according to Bloomberg.
The Indonesia rupiah and Philippine peso were trading 0.40% and 0.10% down, respectively as of 08:22 a.m. IST. The Thai Baht was flat against the US dollar.
Gold future prices continued to rise in Asia–Pacific trade on Wednesday as the other safe–haven assets: US Treasury yield and dollar index softened.
A rise in US dollar makes the bullion more expensive for other countries, while a rise in US treasury yields reduces the charm of the metal.
As of 8:08 a.m., the Gold December future was trading 0.21% higher at $2684.30.
Godrej Properties Ltd. emerged as highest bidder for three adjoining plots measuring 6.5 acres in Mumbai Metropolitan Region. The land parcels in Kharghar to have combined revenue potential of Rs. 3,500 crore, the company said in an exchange filing.
The yield on the benchmark 10–year US Treasury note was trading flat in Asian trade amid lack of significant cues. In Tuesday, the yield settled lower as investors assessed economic outlook after the Federal Reserve officials remark suggested the US central bank will go slow with rate cuts.
The yield on the 10–year US treasury note was trading at 4.03% as of 7:48 a.m. IST.
KEI Industries Ltd.'s standalone net profit rose 11% year-on-year in the July–September quarter of the current financial year, missing analysts' expectations. The company's stock will be in focus in Wednesday's trading session due to the second quarter result.
Read more about the quarterly result of KEI Industries.
Crude oil future prices rebounded in Asian trade Wednesday as concerns about Israel attacking energy infrastructure of Iran resurfaced after the country said that it will take its own decision about how to attack.
The December future of brent crude was trading 0.33% higher at $74.58 a barrel as of 7:11 a.m. IST.
Markets in Asia–Pacific slid on Wednesday with the Japan's benchmark Nikkei 225 leading losses. The indices tracked overnight losses from Wall Street after as concern rose over technology stocks after Dutch ASML Holding NV booked only half the orders analysts has estimated in last three months.
The Nikkei 225 was trading 699.57 points or 1.75% down at 39,210.98, and the S&P ASX 200 was trading 16.40 points or 0.20% down at 8,302.00 as of 07:17 a.m. The KOSPI was 25.81 points or 0.98% down at 2,607.64.
Share indices on Wall Street fell from their all–time high on Tuesday after Europe's most valued technology firm provided with disappointing outlook, Bloomberg reported.
The S&P 500 ended 0.76% down at 5,815.26, and the Nasdaq Composite settled 1.01% down at 18,315.59. The Dow Jones Industrial settled 0.75% down at 42,740.42.
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