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Vienna: OPEC meeting
US: Non–farm productivity — 7:00 p.m.
US: Revised Unit Labour Cost — 7:00 p.m.
As of 3:32 p.m., the Dow Jones Industrial Average and S&P 500 futures declined 0.05% and 0.09%, respectively. The Nasdaq 100 future was 0.1% down.
Market breadth was skewed in favour of buyers. Around 2,024 stocks advanced, 1,941 stocks declined, and 128 stocks remained unchanged on BSE.
The NSE Nifty 50 and BSE Sensex ended with marginal gains after two–day fall.
The Sensex at the lowest level since Dec 4.
Infosys Ltd., ICICI Bank Ltd., and State Bank of India are the top contributors to the Nifty 50 index.
Bharti Airtel Ltd., Reliance Industries Ltd., and Larsen & Toubro Ltd. weighed on the Nifty 50 index.
The NSE Nifty Midcap 150 ended 0.28% higher at 21,809.10.
The NSE Smallcap 250 ended 0.29% higher at 18,450.60.
Shriram Pistons & Rings Ltd. has entered into a share purchase agreement to acquire a 100% stake in TGPEL Precision Engineering. The acquisition will be for an enterprise value of Rs 220 crore, according to an exchange filing.
Alkem Laboratories Ltd. has approved the transfer of its trade generics business to its arm, Alkem Wellness, on a slump sale basis, according to an exchange filing.
Mahindra & Mahindra Ltd. has incorporated Velos Hybren as a wholly-owned subsidiary of its step-down arm, Mahindra Susten, according to an exchange filing.
IGL's board has approved the issuance of bonus shares in a 1:1 ratio and has also approved increasing the share capital to Rs 1,000 crore from Rs 220 crore, according to an exchange filing.
Till when should you remain invested in Protean eGov Technologies, Steel Authority of India Ltd., and Vedanta? How should you trade shares of Zomato? Should you buy ONGC after recent correction?
Astha Jain, senior research analyst at HEM Securities and Swati Hotkar, assistant vice president of technical research at Nirmal bang, answer these queries. Read it here.
HDFC Life Insurance Co. Ltd. board has approved an investment of ₹6.6 crore in Bima Sugam, as per an exchange filing.
BofA's target for the NSE Nifty 50 at 26,500 for the calendar year 2025. The Indian benchmark may underperform US equities in dollar terms. Concerns about India's rich valuations remain.
The market breadth was skewed in favour of buyers. Around 1,951 stocks advanced, 992 stocks declined, and 123 stocks remained unchanged on BSE.
At pre–open, the NSE Nifty 50 and BSE Sensex were trading 0.14% and 0.07% higher, respectively.
The yield on the 10-year bond declined 2 bps to 6.70%. It closed at 6.72% on Monday, according to data Bloomberg.
Rupee weakened by 6 paise to open at a record low of 84.79. It closed at 84.73 on Monday, according to data Bloomberg
Nuvama on Indian Cement Sector: Reiterates Neutral Rating, Top Pick JK Cement
Nov 2024 cement prices rose in East & North India, flat in other regions
Dec 2024 sees further price hikes across many regions
Sustainability of cement prices hikes yet to be seen
Nov 2024 cement demand subdued due to festivals, labour shortage, extreme weather
Cement demand likely to pick up in Dec'24 on capex likely to gather traction
Believe cement prices have bottomed out
Note that chances of substantial price hikes in near term remain bleak
Continuum Green Energy has filed a draft paper for its Rs 3,650 crore IPO, which will include a fresh issue of shares worth Rs 1,250 crore and an Offer for Sale worth ₹2,400 crore, according to its Draft Red Herring Prospectus.
Oil future prices declined in Asia session. The prices jumped over 2% on Monday as Syria's President Bashar al–Assad ousted which fuelled geopolitical risk.
The brent crude was trading 0.32% down at $71.91 a barrel as of 08:12 a.m.
Meanwhile, the oil's supply outlook improved after China top leader said they will introduce more stimulus in the next year.
Strong fiscal and monetary policy coordination is likely to be continued.
Market focus to be on MPC’s assessment of growth-inflation balance, if it will undergo any significant change
Maintain view of a 25 bps rate cut
Will reassess terminal repo rate view of 6% based on February MPC
New governor’s view on managing macro prudential policies and forex & rates markets to be watched
Expect broad continuity on these fronts
The stocks closed lower as a decline in Nvidia Corp's share weighed on overall technology stocks in the US.
The Dow Jones Industrial Average and S&P 500 closed 0.54% and 0.61% lower, respectively. The Nasdaq Composite ended 0.62% down.
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