As 3:24 p.m., the Dow Jones Industrial Average and S&P 500 futures were trading 0.20% and 0.22% higher, respectively. The Nasdaq 100 future was trading 0.19% higher.
Maintain Overweight with TP of Rs 8032
Third: Slight top-line miss; Ebitda beat
The slight top-line miss was led by slightly weak fashion top-line at 37% YoY
Impact to next 12-month EPS - Modest revision lower
For faster updates on third quarte results click here.
Indian equities were trading lower with Nifty falling over 0.35% at 23614.55 and Sensex was trading 250.46 points lower at 18,025.
Intraday, both Nifty and Sensex fell over 0.43%.
Nifty fell 0.43% to 23,594.35.
Sensex fell 0.44% to 77,926.58.
Broader indices were mixed. Nifty Midcap fell 0.82%; Nifty Smallcap was trading 0.4% lower.
Most sectoral indices fell, led by Nifty Realty.
Nifty Bank fell 0.13%, Nifty IT was up 0.20%.
ITC Hotels, Cipla and BPCL were top Nifty gainers.
ONGC, Titan, Shriram Finance and NTPC were top Nifty losers.
Banks and information technology stocks — India's biggest sectors by weightage — are all set for a rare joint outperformance, amid dovish comments by the central bank and the expected economic growth pick-up.
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The Securities and Exchange Board of India’s advisory committee on Environmental, Social, and Governance (ESG) matters is mulling on aligning the regulator’s disclosure norms with those of international standards. This is being done to have globally aligned EGS reporting norms, as per the people in the know.
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Car sales in India surged in January 2025, due to a “spillover effect” even as inventory levels eased.
As many as 4,65,920 cars were registered last month, as against 2,93,465 units in the year-ago period—a 15.53% year-on-year rise, according to data released by the Federation of Automobile Dealers Associations on Thursday. Sequentially, car sales were up 58.77%.
Read full story hereF.
Swiggy Q3 Review: Quick Commerce Remains Pain Point As Competition Intensifies
At pre-open, the NSE Nifty 50 was trading 65.65 points or 0.28% higher at 23,761.95. The BSE Sensex was 211.28 points or 0.27% higher at 78,482.56.
The yield on the 10-year bond opened flat at 6.65%.
It closed at 6.66% on Wednesday.
"RBI monetary policy is due tomorrow. A small section of the market is even talking about a 50bps cut. We expect a 25bps cut," said India Forex And Asset Management Pvt Ltd. (IFA Global).
Source: Bloomberg
Rupee opened 5 paise lower at 87.54 against the US Dollar. It closed at 87.46 on Wednesday.
Source: Bloomberg
Rupee to trade in a 87.30-87.60 range with weakening bias, according to India Forex And Asset Management Pvt Ltd. (IFA Global).
The dollar index is 0.04% higher at 107.66. Brent crude is up 0.23% to $74.78.
Q1CY25 CC YoY revenue growth guidance of 6.5%-8%.
Financial year 2025 CC revenue growth guidance of 3.5%-6%.
Financial year 2025 Adj. operating margin guidance of 15.5%-17.7%.
This implies 20-30 bps YoY expansion.
Wealth managers with diversified asset base will likely perform well because of limited impact of mark to market, according to Citi Research. Higher flows and lower mark to market supports average asset under management accretion for diversified models whenever there's a slowdown in the market, the brokerage said.
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Crisil Ratings Ltd. revised its outlook for long-term bank facilities and non-convertible debentures of Adani Green Restricted Group 1 to ‘positive’ and reaffirmed the rating at ‘Crisil AA+’.
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Shares of major public sector undertakings like Oil and Natural Gas Corp., Power Grid Corp. and Gail India Ltd. will be in the spotlight on Thursday, as the day marks the last session for investors to buy shares to qualify for receiving interim dividends before the stock goes ex/record-trade. The record date will determine the eligible shareholders, who will receive the dividend payment.
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Nifty February futures down by 0.12% to 23,772.60 at a premium of 76.3 points.
Nifty February futures open interest down by 0.5%.
Nifty Options Feb 6 Expiry: Maximum call open interest at 24,000 and maximum put open interest at 23,000
Securities in ban period: Nil.
The US Dollar index is down 0.07% at 107.55.
Euro was down 0.01% at 0.9612.
Pound was down 0.01% at 0.7996.
Yen was down 0.41% at 151.96.
Asian stocks advanced on Thursday tracking second consecutive day of gains on Wall Street amid the looming US-China trade war and muted technology earnings.
Japan's Nikkei was up 260 points, or 0.68% at 39,097 while South Korea's Kospi rose 0.26%, or 11 points to 2,520 as of 6:30 a.m. Future contracts in China and Hong Kong hint at a positive start for the benchmarks.
Stocks in China ended Wednesday's session lower after the stock market opened for trade after a long holiday amid rising trade tensions with the US.
Stocks on Wall Street extended their gains for the second day while the 10-year yield dropped nine basis points to 4.42%. The S&P 500 and the tech-heavy Nasdaq Composite rose 0.39% and 0.19%, respectively. The Dow Jones Industrial Average advanced 0.71%.
The dollar index reversed its gains when Trump's tariff news against Canada and Mexico hit the market. The dollar index — which tracks the greenback's performance against a basket of 10 leading global currencies — was 0.09% up at 107.67.
The GIFT Nifty was trading near 23,800 early Thursday. The futures contract based on the benchmark Nifty 50 rose 0.02% at 23,804.50 as of 7:00 a.m., indicating a flat start for the Indian market ahead of RBI MPC meet outcome and weekly options expiry of Nifty 50 contracts.
The NSE Nifty 50 and BSE Sensex settled with marginal losses on Wednesday as the indexes erased most of their morning gains, as earnings reports did little to lift investor sentiments.