The Dow Jones December Future was trading 0.47% higher at 42,474.00 as of 3:43 p.m. Eastern Time Zone. The S&P 500 December Future was trading 0.77% higher at 5,823.25 as of 3:45 p.m.
The Nadaq 100 December Future was trading 1.37% higher at 20,468.50 as of 3:46 p.m.
The futures levels implied the US stocks may seen gains in Thursday's trading session.
US FOMC Members Speak: Chair Jerome Powell Boston Federal Reserve President Susan Collins, Federal Reserve Governors Adriana Kugler and Michelle Bowman, Michael Barr, and Lisa Cook
US Treasury Secretary Janet Yellen speaks
US Second Quarter Final GDP Estimate
US Weekly Jobless Claims
US Pending Home sales data
US Energy Information Administration Natural Gas storage report
European Central Bank President Christine Lagarde Speak
Market breadth was skewed in favour of sellers. Around 2,273 stocks declined, 1,703 stocks rose, and 105 stocks remained unchanged on BSE.
The NSE Nifty 50 and BSE Sensex scaled fresh highs for sixth consecutive session.
The Nifty posted highest closing level for five days in a row. The Nifty 50 rose 0.95% to a record high of 26,250.90, and the Sensex rose 0.89% to a fresh high of 85,167.56.
The NSE Nifty Auto was the top gainers among sectoral indices, and the NSE Nifty Pharma was the top loser.
The NSE Nifty Auto rose 2.37% to a fresh high of 27,526.35. Mahindra & Mahindra Ltd. and Maruti Suzuki India Ltd. were top leaders. It settled 2.03% higher at 27,434.85.
The NSE Nifty Financial Services Ltd. rose 0.86% to a new high of 25,201.95. Bajaj Finance Ltd., and HDFC Bank Ltd. were the top contributors. The index ended 0.46% higher at 25,103.85.
The Nifty Bank rose as much as 0.68% to a high of 54,467.35 as State Bank of India, HDFC Bank Ltd. led. The index ended 0.33% higher at 54,281.50, marking the highest close.
The NSE Nifty Midcap 150 ended 0.06% higher at 22,369.90, and the NSE Nifty Smallcap 250 ended 0.52% lower at 19,257.45.
Paytm Share Price Jumps To Highest Level Since January After Large Trade
The NSE Nifty 50 and BSE Sensex rose to fresh highs for sixth consecutive session on Thursday tracking gains in shares of Maruti Suzuki India Ltd., and Tata Steel Ltd. and others. As of 12:40 p.m., the Nifty 50 was trading 0.34% higher at 26,093.50, and Sensex was 0.34% higher at 85,467.57.
So far today, the Nifty 50 rose 0.41% to a fresh high of 26,111.40, and the Sensex rose 0.42% to a fresh high of 85,167.56.
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Mouri Tech Pvt. Ltd. filed for Rs 1,500 crore initial public offer. The issue to have fresh issue of up to Rs 440 crore, and the offer for sale component of up to Rs 1,060 crore, according to the draft red herring prospectus.
Linc Ltd. has entered into a joint venture with Japan-based Mitsubishi Pencil Co, Japan. The partnership aims to bring Japan's leading technology to Indian markets at an affordable prices, it said in an exchange filing.
Krsnaa Diagnostics Ltd. bought stakes in Apulki Healthcare to deliver diagnostic services, it said in an exchange filing on Thursday. The company is to become exclusive diagnostic partner for Apulki'S Cancer & Cardiac Hospitals.
Policybazaar Falls Over 10% As Bernstein Says Plan On Foray Into Healthcare Unclear
If there is a rate cut and narrative of soft landing continue then India can be hopeful for more inflows, said Vikash Kumar Jain, a strategist at CLSA. If not, then people won’t put money in risky environment and no major inflows.
If there is rally in Chinese markets and there's unlikely any incremental inflows in emerging markets. Flows could move away from India, Jain said in an interview to NDTV Profit. India heads into a period where there’s going to be a big race of supply this quarter.
So far this calendar year, $7 billion of total IPOs have been raised, he said. There is requirement of more inflows into India. If foreign investors don’t put in money, they will sell their investment in secondary markets which could cause nervousness, Jain said.
Allcargo Gati Ltd. announced a 10.2% average general price inncrease From January 1, 2025 for its express distribution service, it said in an exchange filing.
In a move to simplify the structure of Tata Communications Group and subsidiaries, it has brought Tata Communications UK under its direct ownership. The wholly-owned UK unit will operate under parent Tata Communications without any material changes to the ownership, the company said in an exchange filing.
Market breadth was split evenly between buyers and sellers. Around 1,454 stocks declined, 1,456 stocks rose, and 145 stocks remained unchanged on BSE.
Hyundai India Files For IPO That Could Be Biggest In Nation's History
At pre-open, the NSE Nifty 50 index was trading flat at 26,005, and the BSE Sensex trade flat at 85,167.56.
The yield on the 10-year bond opened flat at 6.74%. It closed at 6.73% on Wednesday, according to data on Bloomberg.
Rupee strengthened by 6 paise to open 83.66 against the US dollar. It closed at 83.60 on Wednesday, according to data on Bloomberg.
HSBC does a reality check at Ola Electric service centres and finds most of them overwhelmed with service requests.
Rating: Buy; Target Price Rs 140 which implied 34.6%. Most service centres are struggling to provide adequate service quality
A huge backlog of service requests, almost 5-10 times the capacity Servicing capacity lagging compared to sales in the past two years
Regular service requirements also piled up due to staff shortage
Many issues are transitory, multiple initiatives afoot to improve the situation
Availability of spare parts has improved, software issues with motor are largely fixed
Ola Electric proactively engaged to fix service issues, targets servicing of 5-7 vehicles per day, per executive
TP stays at Rs 140/share as an improvement in service quality is required before the critical launch of motorcycles
Maintain Neutral with target price of Rs 1,720 which implied a 3%
Quotes NDTV Profit report on HDFC Bank selling down 60-70,000 crore of loans
Sell-downs likely to accelerate LDR resolution but impact Loan to Deposit Ratio but affect EPS and ROE
HDFC Banks sell-down could be ~30-35% of the securitisation loan market in FY25
ROE improvement to be gradual and to come at cost of loan growth
See limited upside with 2x June 26 Book Value
Top Picks: ICICI Bank, Kotak Bank, SBI, Federal Bank
Maintains outperform with a target price Rs 1,720 which implied neither upside and nor downside.
PB Fintech is talking about backward integration with hospitals
Founder seems convinced this is the way forward, and working towards this
Stock is down 13% in the last two days
Likely plan to provide hospital bed inventory to customers in the Delhi-NCR region
If it works, PB could become (much) more dominant in the health insurance distribution market
The company has $650 million on balance sheet to build this model
Some may look at the backward integration as a meaningful shift from its capital-light business model
Stocks To Watch: Pharma Companies, Five-Star Business, ASK Automotive, ONGC, IDFC
The dollar index was trading steady in Asian trade as market participants await second estimate of the US GDP for April–June, jobless claims data, scheduled for release later today. These data will provide fresh cues about the Federal reserve's policy in near future.
In its September meeting, the US central bank said that they will monitor upcoming economic data before considering future path of the monetary policy.
The dollar index, which gauges the strength of the greenback against six major currencies, was trading 0.02% higher at 100.93, against Wednesday's close of 100.92.
The yield on the benchmark 10-year US treasury note declined in Asian trade before the release of a slew of economic data from the world's largest economy.
The benchmark yield rose Wednesday as much as 1.63% to 3.79% as investors received new supply of five-year notes from the auction, Bloomberg reported. It was trading 0.05% lower 3.78% as of 08:31 a.m.
Crude oil prices were trading largely steady on Thursday morning as supply outlook improved after the Libyan faction came to a "compromise" about the leadership of Organization of the Petroleum Exporting Countries' central bank, Bloomberg reported.
The November contract of brent crude on Intercontinental exchange was trading 0.18% higher at $73.59 a barrel as of 08:35 a.m.
Sensex, Nifty Post Record Close In Last Hour Recovery, Axis Bank, HDFC Bank Lead: Market Wrap