As of 3:26 p.m., the Dow Jones Industrial Average and S&P 500 future were trading 0.67% and 0.49% higher, respectively. The Nasdaq 100 future rose 0.57% higher.
-Rupee ends 17 paise stronger against the dollar at 84.28.
-Rupee appreciated by 19 paise during the day to 84.26.
-It closed at 84.45 on Friday.
Source: Bloomberg
Nifty and Sensex recouped its monthly losses after rallying nearly 4% in two sessions
Both Nifty and Sensex recorded highest closing since November 6
Intraday, both Nifty and Sensex rose nearly 2% to hit their highest levels since November 7
Nifty ends at 24253.30, up 1.45% or 346.05 points
Sensex ends at 80158.67, up 1.32% or 1041.56 points
Broader indices outperformed. Nifty Midcap 100 ended 1.6% up and Nifty Smallcap 250 closed 2.1% higher
All sectoral indices rose with Nifty PSU Bank gaining the most by over 4%
MTNL has entered into a services agreement with BSNL effective January 1, 2025 and it will remain valid for 10 years. MTNL has revised date for agreement to come into effect to Jan 1 Vs Dec 15 earlier.
Source: Exchange Filing
At 2:38 p.m., UK's FTSE 100 rose 0.3%, pan European Stoxx 50 traded 0.4% up, Germany's DAX rose 0.3%, and France's CAC 40 was 0.4% up.
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Most indices of the Asia-Pacific region closed higher on Monday with Japan's Nikkei rising the most by 1.30%. However, China's CSI 300 and Hong Kong's Hang Seng closed over 0.4% lower after unchanged China's policy loan rate.
South Korea's Kospi closed 1.3% higher and Australia's ASX 200 ended nearly 0.3% higher and hit its record high of 8,462.1 points.
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Reliance Industries share price rose around 3% after it received an upgrade from Citi Research to 'buy' from 'neutral' as it believes risk-reward for investors has turned favourable along with a potential improvement in regional refining margins.
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At pre-open, Nifty 50 was at 24,253.55, up 1.45% or 346.30 points and Sensex rose 1.36% or 1,076.36 to 80,193.47.
The yield on the 10-year bond opened flat at 6.86%. It closed at 6.87% on Friday, according to data on Bloomberg.
Rupee strengthened by 8 paise to open at 84.37 against the US dollar. It closed at 84.45 on Friday, according to data on Bloomberg
Jefferies said that BJP's Maharashtra win is a positive for market sentiment as it will provide political stability at national level. The brokerage expects consumption boost, pick up in govt spending in Q2. According to the brokerage, government expenditure is likely to rise by 15% and capex by 25% in H2FY25.
Motilal Oswal has maintained its 'buy' rating on Transport Corp. of India with a target price of Rs 1,290, implying 22% upside. It expects CAGR of 15%/19%/18% in revenue/EBITDA/PAT over FY24-27 and expects supply chain business revenue CAGR of 16% over FY24-27. It said higher capacity utilization and addition of new ship to boost growth and high proportion of LTL and branch network to aid freight business.
Emkay has cut its target for Nifty 50 due to poor Q2 earnings season as it expects recovery in consumption growth only in FY26. It said that weakening trends of Q2 earnings season is not alarming and believes markets will mark time in immediate future. It is overweight on IT and energy, underweight on financials and staples.
At 7:22 a.m., January futures contract of WTI Crude traded flat at $71.24 a barrel and that of Brent Crude was down 0.07% at $75.12 a barrel. Last week Brent and US Crude gained around 6% as Putin said Thursday Russia had fired a ballistic missile at Ukraine and warned of a global conflict.
At 7:06 a.m., Australia's ASX 200 rose 0.7%, Japan's Nikkei rose around 2%, South Korea's Kospi was up over 1%, and Hong Kong's Hang Seng was 0.4% higher.
Wall street ended Friday on a positive note after S&P Global's flash U.S. Composite PMI Output Index increased to 55.3 this month, its highest level since April 2022. In October, the reading was 54.1.
S&P 500 closed up 0.35% at 5,969.34, Dow Jones rose 0.97% to close at 44,296.51, and Nasdaq Composite was up 0.16% to close at 19,003.65.
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