As of 3:29 p.m., future contracts of Dow Jones rose 0.4% to 44,995.00, those of S&P 500 rose 0.2% to 6,077.25, and Nasdaq 100 was 0.6% up at 21,399.75.
US: ADP Non–Farm Employment Change — 6:45 p.m.
US: Federal Reserve Bank of St. Louis President Alberto Musalem will speak at the Global Interdependence Center College of Central Bankers Symposium, in New York — 7:15 p.m.
US: Final Services PMI — 8:15 p.m.
US: ISM Services PMI — 8:30 p.m.US: Factory Orders — 8:30 p.m.
US: Energy Information Administration Crude Oil Inventories Data — 9:00 p.m.
US: Deutsche Bundesbank President Joachim Nagel will speak at the European Stability Mechanism, in Luxembourg — 10:40 p.m.
Market breadth was skewed in the favour of buyers. As many as 2,399 stocks rose, 1,572 fell, and 99 remained unchanged on the BSE.
The NSE Nifty 50 and BSE Sensex extended gains to a fourth session.
The Nifty 50 rose for fourth day in a row, which is the best winning streak since Sept 26.
The Sensex rose for fourth day in a row to clock the best winning streak since Sept 2.
The NSE Nifty PSU Bank is the top performing sector on Dec 4.
The NSE Nifty Energy is the worst performing sector.
The NSE Nifty Midcap 150 ended 0.91% higher at 21,485.15.
The NSE Nifty Smallcap 250 ended 0.76% higher at 18,143.55.
AIA Engineering has received approval from the US Department of Commerce for a 4.3% anti-dumping duty on certain cast iron grinding media. The US Department of Commerce is expected to make its final decision on the grinding media duty in April or May 2025, according to an exchange filing.
Mphasis has launched a Cyber Fusion Center in Bangalore to enhance its global cybersecurity capabilities, according to an exchange filing.
TBO Tek Ltd. has announced that TBO Korea Holdings has sold a 2.17% stake in the company, according to an exchange filing.
Over Rs 2-Lakh-Crore Investor Wealth Wiped Out As Nifty Enters Correction Zone: Market Wrap
Nazara Technologies Ltd.'s unit signed a letter of intent with Lysto to introduce blockchain applications, it said in an exchange filing.
Alembic Pharmaceuticals Ltd. has received the US Food And Drug Administration tentative approval for Olopatadine Hydrochloride Ophthalmic Solution. This solution is used to treat itchy eyes caused by pollen, grass, and other allergens, according to an exchange filing.
Aurobindo Pharma has clarified that the company and its subsidiaries are not connected with the ownership or operations of Kakinada Seaports and Kakinada SEZ. This clarification follows a report regarding complaints filed on the ownership held by Auro Infra in Kakinada Seaports and Kakinada SEZ, according to an exchange filing.
Cyient DLM has signed an MoU with Arcedo Systems to establish a 500 kilowatt per hour solar power plant at its Mysore facility, according to an exchange filing.
Bharti Airtel Ltd. has awarded a multi-year, multi-billion 4G and 5G extension deal to Ericsson for its operations in India, according to an exchange filing.
Retains Sell with a target price Rs 7,900, which implied a downside of 12%
Bajaj Auto cuts price of freedom 125
Price cut by Rs. 5000 on entry level and Rs. 10,000 for mid-variant
Price cuts just within 5 months of launch
Since launch Bajaj has dispatched over 80,000 units to dealers
VAHAN Retails were of only 34,000 units
Pulsar variants have also seen price cuts post Diwali
See potential downside risk to street estimates
Adani Energy Solutions Ltd. has reportedly emerged as the preferred bidder for a high-value transmission project under Rajasthan Part-I Power Transmission. The project, valued at approximately Rs 25,000 crore, is poised to become AESL's largest order win to date, once the formal award process concludes.
Suzlon Energy Ltd. has expanded its partnership with Jindal Renewables for an additional 302.4 MW wind project, which aims to accelerate India’s green steel production, the company said an exchange filing.
BofA Sees Nifty 50 Rising Up To 26,500 In Calendar Year 2025; Says Indian Equities May Underperform US Stocks
Wonderla Share Price Zooms As Amusement Park Chain Launches QIP
Mazagon Dock To Garden Reach: Defence Stocks Soar As Council Approves Rs 21,700-Crore Capital Acquisition
Oberoi Realty Hits Life High As Nomura Initiates 'Buy' Expecting 'Aggressive Development'
Market breadth was skewed in favour of buyers. Around 2,132 stocks advanced, 786 stocks declined, and 109 stocks remained unchanged on BSE.
L&T Technology Services Ltd. has secured a $50 million deal as a strategic partner from a global network provider. The deal involves providing product integration services for deployment in the North American market, the company said in an exchange filing.
At pre–open, the NSE Nifty 50 was 31.60 points or 0.13% higher at 24,488.75, and the BSE Sensex was 0.25% higher at 81,036.22.
The yield on the 10-year bond opened flat at 6.71%. It closed at 6.71% on Tuesday, according to data on Bloomberg.
Rupee opened flat at 84.70 against the US dollar. It closed at 84.69 on Tuesday, according to data on Bloomberg.
Gold future prices continued to trade with little change as the latest Jobs Opening and Labour Turnover Survey called for a cautious approach on the Federal Reserve's policy outlook going ahead.
As of 08:47 a.m., the spot gold was trading $2,646.19 an ounce.
Crude oil prices continued to gain on Wednesday as the worries over supply rose after news report said the Organization of Petroleum Exporting Countries and allies mulling to delay to revive output for another three months.
"Brent posted it's biggest gain in two weeks yesterday as it rose 2.5% but was still in the range of 71-76. Investors were monitoring tension in Middle East as Israel said it would continue with the war if their truce with Hezbollah collapses," said Anil Kumar Bhansali, head, treasury and executive director, Finrex Treasury Advisors LLP.
As of 8:23 a.m., the February future contract was trading 0.08% higher at 73.68 a barrel on the Intercontinental Exchange.
Classification doesn't impact ongoing manufacturing or sale of existing products from site.
Classification may impact review of pending submissions from Gagillapur for new products.
Undertaken voluntary remediation plan to address the 6 US Food Drug Administration observations.
Source: Exchange filing
Retained Buy ipwith target price of Rs 1800 (Earlier Rs 1830); upside potential 16.7%
FY25-27E EPS reduced by 3-6% due to delayed recovery in India and added US competition.
PE multiple revised to 32x (from 34x) reflecting softer India growth
CIE Automotive Ltd. has received multiple GST demands totaling Rs 67.9 lakh from the Coimbatore State Tax Officer. This demand is related to an, the company said in an exchange filing.
Initiate coverage with Buy, Target: Rs 2,500, upside 21%
Pre-sales should record a 40% CAGR in FY24 to FY27
Poised for aggressive business development
Has relatively low net debt/equity of 0.02x
Strong cash generation
Has INR8500 crore in ready inventory to be sold over the next 2-3 years
Cumulative annuity, hotel revenue expected to record 35% CAGR over FY24-27
Plans to pursue growth by raising funds of up to Rs 6,000 crore
South Korean Stocks Tumble As Martial Law Chaos Jolts Market: Asia Market Wrap
US share indices ended on a mixed note after the S&P 500 posted its 55th record in Tuesday's session. Market participants await US jobs data, and the Federal Reserve Chair Jerome Powell's remarks.
The Dow Jones Industrial Average ended 0.17% down, and the S&P 500 ended 0.05% higher. The Nasdaq Composite ended 0.40% higher.
Sensex Extends Gain For Third Day To End At Over One-Month High; Nifty Settles Near 24,500: Market Wrap