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As of 3:31 p.m., the Dow Jones Industrial Average and S&P 500 futures rose 0.39% and 0.43%, respectively. The Nasdaq 100 futures was 0.33% higher.
UK: Monetary Policy Summary
UK: MPC Official Bank Rate Votes
UK: Official Bank Rate
UK: BOE Quarterly Bulletin
US: Final GDP
US: Unemployment Claims
US: Final GDP Price Index QoQ
US: Philly Fed Manufacturing Index
US: Existing Home Sales
US: CB Leading Index MoM
US: Natural Gas Storage
-Rupee closed 13 paise lower at 85.08 against the US dollar.
-It touched a record low of 85.09 a dollar
-It closed at 84.95 on Wednesday.
Source: Cogencis
Nifty and Sensex fell for a fourth consecutive session to close at lowest since November 28
Intraday, both Nifty and Sensex had declined 1.4% each
Nifty ends 1.02% or 247.15 points down at 23951.70
Sensex ends 1.2% or 964.15 points lower at 79218.05
Broader indices outperformed. Nifty Midcap 100 ended 0.3% down; Nifty Smallcap 250 closed 0.3% lower
Except Nifty Pharma, which rose nearly 2%, all sectoral indices fell
Dr Reddy's Labs and Cipla were top Nifty gainers
Bajaj Finserv and Asian Paints fell the most
JK Cement has emerged as successful bidder for Mahan Coal Mine in Madhya Pradesh, an exchange filing said.
Infosys has got regulatory nod for Binding Corporate Rules from EU Data Protection Authorities, an exchange filing said.
Vodafone Idea has been penalised Rs 8 crore for alleged disallowance of transitional credit carried forward to GST, an exchange filing said. "The maximum financial impact is to the extent of tax demand, interest and penalty levied," the company said. "The Company does not agree with the Order and will take appropriate legal action(s) against the same."
Market experts suggested to 'Sell' Axita Cotton Ltd. A 'hold' is recommended for Piramal Pharma Ltd., Siemens Ltd., and Skipper Ltd. Kush Bohra, founder of Kushbohra.Com and Shahina Mukadam, an independent market expert, shared their views on specific stocks. Read below their insights.
Read here.
Indices in the Europe tracked the fall in global markets after US Federal Reserve hinted at less than expected benchmark interest rate cuts as it cut it by 25 bps in the December meeting.
Investors now await Bank of England's monetary policy decision. At 2:14 p.m., Pan European Stoxx 50 and UK's FTSE 100 traded 1.1% down each, while Germany's DAX and France CAC 40 was 0.9% lower.
Indices in the Asia Pacific region ended in the red on Thursday tracking losses from their US peers after hawkish commentary by US Federal Reserve. Australia's ASX 200 and South Korea's Kospi ended 2% lower each, while Japan's Nikkei and Hong Kong's Hang Seng fell 0.6%.
A century ago, Raymond was weaving blankets for soldiers. Today, it's building a legacy as a conglomerate as it becomes one of the rare Indian brands to hit the 100-year milestone.
Read here.
Friday is setting out to be a volatile day for stocks entering the Sensex and FTSE indices, as the rebalancing coincides with Sensex's weekly options expiry. Shares of food delivery platform Zomato Ltd. and frontline private lenders ICICI Bank, Kotak Mahindra Bank and Bajaj Finance will be in demand on in the last leg of trading tomorrow, with their entry to the gauges.
Read here.
Tata Motors has received additional order for 148 electric buses from Bengaluru Metropolitan Transport Corp., a press release said. Arm TML Smart City Mobility Solutions will supply, operate & maintain Tata Starbus EV for 12 years.
Zydus Lifesciences has received US FDA Approval for Lidocaine & Prilocaine cream, used for topical anaesthetic, an exchange filing said.
On Crude Oil Prices, CLSA said oil markets remain trading with bearish sentiment and OPEC's discipline is key to protecting the floor price of crude oil. It may have to further delay unwinding of supply to support oil prices.
On Indian Oil Marketing Margins, the brokerage said IOCL, BPCL, HPCL are expected to see bumper margins in Q3FY25 and higher integrated margins for OMCs in Q3 to offset impact of LPG losses.
Among stocks, the brokerage continues to prefer ONGC despite weak oil prices as it is trading at attractive valuation vs Oil India and peers.
VA Tech Wabag Shares Record Worst Fall Since March 2020 After Saudi Arabia Order Cancelled
RBL Bank, PNB Target Revisions By Morgan Stanley Signal Downside As Brokerage Retains 'Underweight'
Indian financial markets' 30-stock gauge Sensex slumped over 1,000 points as markets opened on Thursday morning reacting to global macroeconomic events. The Nifty50 fell 321 points and in the last five trading sessions, both the benchmarks have fallen over 2% with the Nifty50 now trading below the 24,000 mark.
What drove Dalal Street lower on Thursday morning? Three factors primarily.
One MobiKwik Systems Ltd. made a remarkable debut on the stock exchanges on Wednesday with nearly a 90% premium over the IPO price, which itself was subscribed 119.38 times. The company is now the only other listed entity in the pure-play fintech space besides Paytm parent One 97 Communications Ltd.
Read here.
One MobiKwik Share Price Continues Steller Run After Listing
The initial-public-offering market is set to witness a flurry of activity on Thursday as retail investors are gearing up for subscribing to the five companies launching their IPOs. DAM Capital Advisors Ltd., Transrail Lighting Ltd., Sanathan Textiles Ltd., Concord Enviro Systems Ltd. and Mamata Machinery Ltd. are all set to hit the market, and analysts predict retail subscriptions to be dynamic yet divided.
Read here.
Bank Of Baroda Share Price Slumps; Lender Approves Rs 10,000 Crore Fundraise Through Infra Bonds
JSW Steel's step-down arm Purest Energy, LLC has merged with holding Company Periama Holdings LLC. Step-down Caretta Minerals, LLC has also merged with holding company Planck Holdings, LLC, an exchange filing said.
Swiggy Gets Strong 'Buy' As JPMorgan Initiates Rating With Eye On Instamart, Food Delivery Strengths
Inventurus Knowledge Solutions Shares List At 43% Premium Over Issue Price
At pre-open, Nifty 50 was at 23877.15, down 1.33% or 321.70 points and Sensex was at 79029.03, down 1.44% or 1,153.17 points.
Rupee Breaches 85 Mark To New Record Low After Fed Rate Cut
BoJ has kept overnight call rate at 0.25% and has left monetary policy statement title unchanged. It said high uncertainties remain over activity and prices and there is a need to watch impact of market moves on economy and inflation.
Source: Bloomberg
Indices in the Asia-Pacific region were trading lower tracking losses in US markets as FOMC hinted at few rate cuts and raised inflation projection. As of 8:40 a.m., Australia's ASX 200 and South Korea's Kospi traded nearly 2% down, Japan's Nikkei and Hong Kong's Hang Seng fell 1%.
On Wednesday, indices in the US fell as Federal Reserve signaled fewer rate cuts and raised inflation projection. The central bank cut interest rate by 25 basis points to the target range of 4.25%–4.50%. Dow Jones Industrial Average and S&P 500 ended 2.58% and 2.95% down, respectively. The Nasdaq Composite ended 3.56% down.
The GIFT Nifty was trading 0.1% or 18.5 points up at 23,915.00 up by 18.5 as of 7:43 a.m. Among others, share prices of Brigade Enterprises, SBI and Asian Paints will remain in focus tracking news flow.
The benchmark equity indices declined nearly 2% in the last three days as market participants look forward to the policy decisions from the US Federal Open Market Committee. Private bank stocks weighed on the Indian benchmarks the most in the last three sessions.
The NSE Nifty 50 ended 137.15 points or 0.56% lower at 24,198.85 and the BSE Sensex closed 502.25 points or 0.62% down at 80,182.20.
Overseas investors stayed net sellers of Indian equities for the third straight day on Wednesday. Foreign portfolio investors net sold stocks worth Rs 1,316.8 crore, whereas domestic institutional investors were net buyers of equities worth Rs 4,084.1 crore, according to provisional data shared by the National Stock Exchange.
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