The December futures contract of Dow Jones rose 0.01% to 43,518.00, S&P 500 rose 0.1% to 5,894.25, and Nasdaq 100 traded 0.3% up at 20,432.25 as of 3:30 p.m.
US: Building permits — 6:00 p.m. IST
US: Housing starts — 6:00 p.m. IST
US: Federal Reserve Governor Christopher Waller will speak sabout decentralized finance at the Annual Vienna Macroeconomics Workshop, in Vienna — 9:40 p.m. IST
The NSE Nifty 50 and BSE Sensex reversed a three–day losing streak on Friday.
Intraday, the Nifty 50 rose 0.55% to 24,885.85, and the Sensex rose 47% to 81,139.15.
ICICI Bank Ltd. and Axis Bank Ltd. are top gainer in the index.
Infosys Ltd., and Asian Paints are top dragger in the index.
Earlier in the day, the Nifty 50 declined 0.74% to 24,567.65, and the BSE Sensex declined 0.74% 80,409.25.
The NSE Nifty Metal was the best performing sector on Friday. It ended 1.52% higher at 9,749.30.
The NSE Nifty IT fell to one–week low during the day. The index ended 1.34% down at 42,162.90.
The NSE Nifty Midcap 150 ended 0.11% higher at 21,747.30.
The NSE Nifty Smallcap 250 ended 0.06% lower at 18,233.90.
Net Profit rose 70.2% to Rs 209 crore from Rs 123 crore
Revenue fell 18% to Rs 2,001 crore from Rs 2,438 crore
Ebitda down 3% at Rs 323 crore from Rs 333 crore
Margin at 16.1% compared to 13.6%
Re-appoints Punit Goenka as MD & CEO for five year effective January 1, 2025
Q2 FY24 saw an exceptional loss of Rs 119.8 crore and Q2 FY25 includes exception gain of Rs 10.9 crore
Catch latest second earning numbers from Hindustan Zinc, Aether Industries Ltd., Elecon Engineering at NDTV Profit website here.
Krishna Institute of Medical Sciences Ltd. signed a memorandum of understanding with Wipro GE Healthcare valuing up Rs 700 crore. The MoU to cover new products and services for 12 KIMS Hospitals & four upcoming hospitals, it said in an exchange filing.
Net profit down 5.1% at Rs 34.8 crore versus Rs 36.7 crore.
Revenue up 21% at Rs 199 crore versus Rs 164 crore.
Ebitda up 16.3% at Rs 54 crore versus Rs 46 crore.
Margin at 26.9% versus 28%.
Net Profit fell 0.9% to Rs 87.7 crore compared to Rs 88.6 crore
Revenue rose 4.8% to Rs 508 crore compared to Rs 485 crore
Ebitda fell 5.5% to Rs 112 crore compared to Rs 119 crore
Margin at 22.1% compared to 24.5%
Ajmera Realty and Infra India Ltd. approved raising Rs 225 crore Via preferential issue of shares at Rs 711 per share, according to an exchange filing.
Hindware Home Innovation Ltd.'s board approved rights issue of shares Of up to Rs 250 crore at Rs 220 per share, it said in an exchange filing.
UPL Ltd. will make announcement on rights share issue after Q2 result, it said in an exchange filing.
Wipro Share Price Surges Following Bonus Announcement And Strong Quarterly Earnings
Asian Stocks Gain As China GDP Growth Slightly Beats Estimates Amid Fall In Fed Cut Bets
Revenue from operations down 6% at Rs 73.5 crore versus Rs 78.4 crore
Ebitda down 73% at Rs 3.1 crore versus Rs 11 crore
Margins at 4.2% versus 14%
PAT down 68% at Rs 4.1 crore versus Rs 12.9 crore
Polycab India Q2 Results: Profit Up 4%, Revenue Jumps 30%
Gold prices rose to record high for second session in a row on Friday as investors flocked towards the safe–haven asset due to uncertainty over US election, tension in middle east.
The Bloomberg spot gold rose 0.72% to a record high of $2,711.99 an ounce. It was trading 0.65% higher at $2,710.09 an ounce s of 09:59 a.m. IST., according to data from Bloomberg.
Infosys Share Price Declines After Q2 Results, Guidance Cues
Market breadth was skewed in favour of sellers. Around 2,221 stocks declined, 609 stocks advanced, and 111 stocks remained unchanged on BSE.
At pre–open the NSE Nifty 50 was trading 84.90 points or 0.34% down at 24,664.95, and the BSE Sensex was 494.75 points or 0.61% down at 81,006.61
The yield on the 10-year bond opened 1 basis points higher at 6.79%. It closed at 6.78% on Thursday, according to data on Bloomberg.
The local currency opened 2 paise higher against the US dollar at 84.05 on Friday. On Thursday, the Indian unit closed at 84.07 a dollar, according to data on Bloomberg
JSW Energy Ltd.'s step-down subsidiaries signed power purchase agreement for 1,200 MW solar-wind hybrid capacity with MSEDCL, the company said in an exchange filing
Alert: MSEDCL Stands For Maharashtra State Electricity Distribution Company
Downgrade to Equal Weight with a target price Rs 170 from 262 earlier, which implied a 4% downside.
RBI embargo to hurt profit materially for longer
Short tenured loan book to shrink rapidly
Credit costs already elevated, funding costs could rise
Cut consol earnings forecasts by 20% for FY25, 30% across FY26-27
Value at 1x FY27E standalone BV
Rated Underweight with target price of Rs 881 potential downside 18%
In line earnings but slightly below estimates.
Indian margins suffered from adverse weather; US on target, Kenya exceeded expectations.
Basic Chemistry EBITDA/ton fell 10% qoq.
Rising Chinese production may limit margin growth despite balanced market.
Weather issues cut Mithapur output by 30,000 tons of soda ash and 40,000 tons of salt.
Weak container glass and lithium carbonate demand offset by strong solar glass; Indian demand stable.
Asian currencies rose against the greenback in early trade Friday as the dollar index eased in Asian trade. The index rose on Thursday after US retail sales came higher than expected and jobless claim data fell, which affirmed the expectation the Federal Reserve doesn't need to go aggressive with the monetary easing.
The Thai Baht declined the most against the US dollar to become the worst performing currency on Friday so far. It was trading 0.30% lower at 33.11 a dollar as of 08:13 a.m.
The Japanese yen rose 0.18% to 149.94 a dollar as of 08:13 a.m., according to data on Bloomberg.
Crude oil prices continued to rise Friday as supply outlook bleakened following tenison spiked in the West Asia. The geopolitical tension renewed after Hamas leader Yahya Sinwar's death.
The crude oil was trading 0.27% higher at $74.65 a barrel as of 08:00 a.m.
Maintain Outperform, Target: Rs 2,270, (earlier Rs 2100), upside 15%
Revenue was a beat, Margins in line
Continue to see up cycle in large caps IT services
Infosys expected to be growth leader driven by improved macro and BFSI
Infosys maintained leadership (+2.3% QoQ organic)
It grew ahead of TCS and HCLT
The yield on the benchmark 10–year US Treasury rose following robust US retail sales data and less than expected jobless claim. The strong data point nudged the expectation of the Federal Reserve going slow with the rate cuts.
The yield on the 10–year US treasury note was trading at 4.093% as of 7:21 a.m. IST.
Gold prices scaled a fresh high on Thursday as the geo-political tension the West Asia continued to force investors to buy the safe–haven asset.
The Bloomberg spot gold was trading 0.50% higher at $2,706.10 an ounce as of 7:24 a.m.
Wipro Ltd. share price is likely to react in Friday's session as it reported better than expected net profit for July–September. Wipro's net profit rose 6 sequentially to Rs 3,227 crore in the second quarter, against Rs 3,009 crore Bloomberg estimated. To know more about Wipro's second quarter result click here.
Most markets in Asia–Pacific rose on Friday as traders assessed latest inflation print from Japan. Japan's CPI for September came at 2.5%, while core CPI at 2.4%.
The Nikkei 225 was 0.21% higher at 38,993.36, while the S&P ASX 200 was 0.72% down at 8,295.60. The KOSPI was was flat at 2,609.25 as of 7:11 a.m.
Most US stocks ended with little change on Thursday following strong US retail sales and jobless claim data, which affirmed underlying resilience of the world's largest economy.
The Dow Jones Industrial Average and Nasdaq Composite indices ended 0.37% and 0.04% higher, respectively. The S&P 500 ended 0.02% down.
Nifty, Sensex End Near Two-Month Low; Bajaj Auto, Shriram Finance Top Losers: Market Wrap