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Europe: Monetary Policy Statement — 6:45 p.m.
US: PPI & Core PPI — 7:00 P.M.
US: Weekly Unemployment Claims — 7:00 p.m.
Europe: European Central Bank Press Conference — 7:15 p.m.
UK: Consumer Board Leading Index — 8:00 p.m.
US: Energy Information Administration Natural Gas Storage Report — 9:00 p.m.
The S&P 500 and Nasdaq 100 futures rose 0.82% and 1.77% higher, respectively. The Dow Jones Industrial Average future declined 0.22%.
Market breadth was skewed in the favour of sellers. Around 2,508 stocks fell, 1,491 rose, and 106 remained unchanged on the BSE.
The NSE Nifty 50 and BSE Sensex closed lower on Thursday after two days of muted session.
The benchmark indices ended at the lowest level since Dec 4,.
Bharti Airtel Ltd. Infosys Ltd., and Tata Consultancy Services Ltd. added to the NSE Nifty 50 index.
Reliance Industries Ltd. Larsen & Toubro Ltd., and Hindustan Unilever Ltd. weighed on the NSE Nifty 50 index.
The NSE Nifty Midcap 150 ended 0.50% down at 21,770.05.
The NSE Nifty Smallcap 250 ended 0.93% down at 18,330.30.
NBCC has been appointed as the Project Management Consultant for the completion of 16 projects of Supertech. The tentative construction cost of the projects is approximately Rs 9,445 crore, including a 3% contingency. The PMC fees have been fixed at 8% for the Supertech projects, according to an exchange filing.
Praveg Ltd. has commenced operations of its beach resort at Jalandhar House, Diu, in partnership with Roots Corp, according to an exchange filing.
Rail Vikas Nigam Ltd. has received a Letter of Acceptance for an order worth Rs 111 crore from Southern Railway, according to an exchange filing.
Aster DM has announced that Grant Thornton has concluded its investigation in response to a whistleblower complaint. The company stated that the audit findings from the investigation do not have any impact on its financial statements, according to an exchange filing.
Saurashtra Cement Ltd. has commenced production at its kiln in Gujarat, as per an exchange filing. The company had previously paused production at the kiln on Nov 29 due to higher clinker inventory.
AYE Finance Ltd. plans to raise up to Rs 885 crore through an initial public offering, which will include an offer for sale of up to Rs 565 crore, according to Bloomberg.
Tata Consultancy Services Ltd. has signed a five-year deal with Telenor Denmark for the provision of IT infrastructure services, as per an exchange filing.
Poddar Housing And Development Ltd. has defaulted on the repayment of loan and interest owed to STCI Finance. As a result, STCI Finance has filed a petition before the National Company Law Tribunal in Mumbai, according to an exchange filing.
Adani Green Energy Ltd. has announced that its arm has commissioned a 250 MW solar power project in Rajasthan. With this addition, the company's total operational renewable generation capacity now stands at 11,434 MW, as per an exchange filing.
MTNL Share Price Hits Three-Month High Even As It Fails To Pay Bond Interest
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Jupiter Wagons Jumps 18% In Two Sessions To Hit Four-Month High
Shakti Pumps Share Price Hits Over Two–Week High After Securing Rs 753-Crore Order
Hyundai Motor Share Price Declines for Second Straight Day After Price Hike And BofA Rating
Market breadth was skewed in favour of buyers. Around 1,616 stocks advanced, 1,324 stocks declined, and 104 stocks remained unchanged on BSE.
At pre–open, the NSE Nifty 50 was trading 37.35 points or 0.15% down at 24,604.45, and the BSE Sensex was trading 0.06% or 49.38 points down at 81,476.76.
The yield on the 10-year bond opened flat at 6.72%. It closed at 6.71% on Wednesday, according to Bloomberg.
Rupee opened flat at 84.85 against the US dollar. It closed at 84.84 on Wednesday, according to data on Bloomberg.
Dealer checks state price hikes in North & East remain weak
Cement prices in West/ South up Rs 15-20/Rs 20-25 per bag
Most cement dealers caution on how price hikes should persist
Price hikes might role back if demand doesn't improve
Brokerage does expect cement prices to generally move up heron
JP Morgan's Top Cement Bets:
UltraTech Cement due to consolidation
ACC due to valuations, better price momentum in South
Top Picks: NTPC, JSW Energy, Power Grid
Nov 25 power demand up 4% YoY vs 2.3% decline in Aug- Oct'24
In eight months of financial year 2025 demand growth at 4% YoY, below brokerage's 7% estimate for FY25
Renewable auctions in FY25 till date remain upbeat
Expect data centre's and AI boom to boost power demand
Gopal Snacks Ltd. has reported that there were no casualties or injuries among personnel at their production unit in Gujarat following a fire incident. The company has filed an exchange notice regarding the matter.
IPM Monthly trends
IPM recorded 10.7% y-y growth in Nov 2024
Growth highest in 4 months, driven by low base.
Price increases (4-5%) drove growth
Volume growth remains slow due to competition from trade generics and private labels.
IPCA recorded 19% y-y growth,leading the market.
Sun Pharma, Alkem, DRRD, Zydus, and Glenmark outperformed
Cipla, Torrent, and Lupin lagged.
See green shoots for spreads expansion in 2025
Inventory de-stocking has started
Demand outlook to improve in coming months and normalizing imports
Maintain overweight on JSPL and JSW Steel
Maintain equalweight on Tata Steel
Maintain underweight on SAIL
Retain Buy and raise target price Rs 4,000, which implied a 27% upside
Conference call takeaways
Acquisition part of Cos focus on premium, off highway tyres, and exports
Mix of Off Highway Tyres/exports to rise to 25% each vs 15%/19-20% now
Double digit market share of Camso in US Europe to aid efforts
Mgmt expects synergies in channel and clients to lead to further market-share gains
After 3 years, other segments (Agri, power sports, harvesters) would potentially open up
Estimates are unchanged; value at 18x Dec-26E PE
Asian Stocks Rise After US Inflation Backs Fed Cut: Markets Wrap
Most US stocks ended higher on Wednesday as tech stocks rose after a benign CPI report, Bloomberg reported.
The S&P 500 and Nasdaq Composite indices ended 1.77% and 0.82% higher, respectively. The Dow Jones Industrial Average ended 0.22% down.
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