Futures contract of Dow Jones fell 0.6%, that of S&P 500 fell 0.8%, and Nasdaq 100's contract fell over 1% as of 3: 39 p.m.
UK: Confederation of British Industry Realised Sales — 4:30 p.m.
UK: Bank of England Quarterly Bulletin
US: Federal Reserve Bank of San Francisco President Mary Daly will speak in an interview conducted by Bloomberg TV
US: Core PCE Price Index — 7:00 p.m.
US: Personal Income — 7:00 p.m.
US: Personal Spending — 7:00 p.m.
Europe: Consumer Confidence — 8:30 p.m.
US: University of Michigan Revised Consumer Sentiment — 8:30 p.m.
US: University of Michigan Inflation Expectation — 8:30 p.m.
Australia: Conference Board Leading Index — 9:00 p.m.
The NSE Nifty 50 recorded the worst weekly decline since Sept 30.
The BSE Sensex posted the worst week since June 13.
The Nifty 50 and Sensex declined nearly 5% on the week ended on Dec 20.
Tech Mahindra Ltd., Axis Bank Ltd. and IndusInd Bank Ltd. were top loser in the benchmark index.
Dr. Reddy's Laboratories Ltd., JSW Steel Ltd., and ICICI Bank Ltd. top gainer in the benchmark Nifty 50 index.
The NSE Nifty Midcap 150 ended 2.41% down at 21,050.60.
The NSE Smallcap 250 ended 2.01% down at 17,693.65.
Tech Mahindra Ltd. has received sanction from the National Company Law Tribunal for the merger of four of its subsidiaries with the company, according to an exchange filing.
Restaurant Brands Asia Ltd.'s board has approved raising funds of up to Rs 500 crore through a Qualified Institutional Placement, according to an exchange filing.
Shilpa Medicare has received Good Manufacturing Practice certification after the completion of an inspection by the Europe-based EMA at its unit in Telangana, according to an exchange filing.
The GMP certification is system in which a product is manufactured consistently according to quality standard.
European share indices dropped on Friday tracking losses in Asian peers. Market participants await release of US Core Personal Consumption Expenditure data release later today.
The Euro Stoxx 50 fell 0.98% and FTSE 100 declined 0.40% as of 2:04 p.m.
Australia's benchmark index closed at the lowest level since Sept 16 as risk-off sentiment after hawkish outlook from the Federal Reserve continued to fuel worries. The S&P ASX 200 ended 1.24% down at 8,066.93.
The Nikkei 225 closed 0.29% at 38,701.90 after data showed inflation accelerated in the country, which increased expectation of rate hike by the Bank of Japan.
The CSI 300 closed 0.45% down after the People's Bank of China held one–year loan prime rate at 3.1% and and five–year loan prime rate at 3.6%.
GAIL(India) Ltd. has accorded approval for the formation of a company unit to operate as a finance company in the IFSC, with the unit set to undertake ship leasing and treasury activities, according to an exchange filing.
Indian equity markets are currently seeing a cyclical downturn, according to Marcellus Investment Managers' Founder and Chief Executive Officer Saurabh Mukherjea. He expects the Nifty 50 to correct by another 10% for it to be sensibly valued.
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Alembic Pharmaceutical Ltd. has received the US Food And Drug Administration final approval for Divalproex Sodium Delayed Release Capsules, which are used to treat seizures, according to an exchange filing.
Shriram Finance Ltd. Consolidates Green Finance Business Under Shriram Green Finance
Aims To Achieve AUM Of `5,000 Cr Within Next 3-4 Years For Vertical
Green Finance Portfolio To Be Built Via Financing EVs, Battery Charging Stations, Renewable Energy Products & Solutions, Energy Efficient Machinery, Etc
Source: Exchange Filing
Steel Strips Wheels has received a nomination for its steel wheel business worth approximately Euro 15 million from a European Original Equipment Manufacturer , to be executed over the next 6 years, according to an exchange filing.
NBCC(India) Ltd. has received an order worth Rs 200 crore from Oil India for the construction of a new OIL hospital in Assam, according to an exchange filing.
NBCC (India) Ltd.'s wholly–owned subsidiary HSCC (India) Ltd. received an order worth Rs 98.17 crore. As a part of the order, HSCC (India) will build E–Library as unified platform for students and 22 faculties of Government Medical College in Mumbai. The order is from the Medical Education, Department, Maharashtra.
Axis Securities initiated coverage with a target price Rs 3,825, which implied a 30% upside.
Dominant Position in Used CV Financing; Market Share Gains Likely
Merger Enables Portfolio Diversification; Helps Reduce CV Cyclicity
Asset Quality to Remain Steady
Healthy RoA/RoE Delivery to Continue
Value the stock at 2.2x FY27E ABV
Bajaj Auto claims that the Chetak has become India's No.1 electric scooter in December 2024, having clocked 1 lakh units in two years, the next lakh in eight months, and the third lakh in just four months.
Tata Consultancy Services Ltd. has expanded its deal with Bank of Baroda to continue implementing an end-to-end financial inclusion solution over the next five years, the company said in an exchange filing.
Tata Power Co. Ltd.'s arm, Tata Power Renewable Energy Ltd, has partnered with Canara Bank to promote the adoption of rooftop solar systems under the PM Surya Ghar Scheme, according to an exchange filing.
Maruti Suzuki To Unveil First EV eVitara To India In January
International Gemmological Institute (India) Ltd. has listed at Rs 510 on the NSE, compared to the issue price of Rs 417, marking a premium of 22.3%. On the BSE, it listed at Rs 504.85, also above the issue price of Rs 417, reflecting a premium of 21.1%.
Schaeffler India has appointed Sharad Bhatia as the Head of the Vehicle Lifetime Solutions Business Division in India, according to an exchange filing.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
Market breadth was skewed in favour of buyers. Around 1,982 stocks advanced, 781 stocks declined, and 112 stocks remained unchanged on BSE.
Rupee Closes Flat After Opening At Record Low Against Dollar
At pre–open, the NSE Nifty 50 was 0.03% higher at 23,960.70, and the BSE Sensex was 0.16% higher at 79,347.48.
"Global cues are mostly negative with the U.S. markets closing lower and Asian markets trading slightly lower currently. FIIs have remained net sellers for the last 4 trading sessions," said IFA Global Research Academy.
IFA Global Research Academy expects Nifty to consolidate between 23,600 to 24,150 with a neutral bias. Bank Nifty underperformed marginally yesterday and that is expected to continue today. We expect it to trade between 50,900 and 51,800.
The yield on the 10-year bond opened flat at 6.79%.
Source: Bloomberg
The local currency opened flat at 85.08 against the US Dollar
Source: Bloomberg
Mtar Technologies Ltd. has received an order worth Rs 226 crore for the supply of various products in the clean energy and aerospace sectors, according to an exchange filing.
Accenture reported strong Q1FY25 results
Guidance upgrade augurs well for Indian IT
Improvement in Outsourcing growth is positive for Indian IT
Accenture results reinforces our positive stance.
Maintain positive stance on sector
Expect sustainable strong demand environment
Expect opportunities from Gen AI to drive healthy earnings growth over next three years
Nuvama Research maintained a 'Buy' on SRF Ltd, hikes target to Rs 2672 vs Rs 2628 earlier, which implied a 17% upside
While Q3FY25 results may not be exhilarating, Q4 looks promising
Expects SRF’s Specialty Chemicals to expand at a 20–25% CAGR over 5 years
Management confident of in speciality chemical industries' overall volume growth
Active Ingredients to support next leg of growth in speciality chem
Trim FY25/26 EBITDA estimates by 2%/3% to reflect gradual vs faster improvements in chemicals business
Gravita India Ltd. has closed its qualified institutional Placement and approved the allocation of 47.8 lakh shares at an issue price of Rs 2,096.2 per share, with the issue priced at a 5% discount to the floor price of Rs 2,206.49 per share, according to an exchange filing.
Waaree Energies' arm, Waaree Solar Americas, has commenced trial production of a 1.6 GW solar module line at its Brookshire unit, according to an exchange filing.
Initiates coverage with a Buy with a target price Rs 52, which implied a 19% upside.
Leading business process management firm focused on US Healthcare
Well positioned to deliver double digit growth
Normalisation of Depreciation & Amortisation costs and deleveraging to spur EPS growth
Offers better growth than peers at the same valuation multiple
Value at 31x Price to Earnings
Clients continue to prioritize large-scale transformation projects
Strong recovery of discretionary demand may take few quarters, but unlikely to worsen
Expect revenue growth for covered large-caps to improve in FY26
Interest rate cut cycle from Sep 2024, a potential thaw in decision-making by US corporates could provide a fillip to demand
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