Stock Market Live Update: IDFC First Bank Approves Rs 7,500-Crore Fundraise

IDFC First Bank Ltd.’s board has approved a fundraise of up to Rs 7,500 crore from two investors. The bank plans to issue Compulsorily Convertible Preference Shares to Current Sea and Platinum Invictus to raise the funds.

Stock Market Live Update: Nifty, Sensex  Trade Lower At Pre-Open 

At pre-open, the NSE Nifty 50 was trading 0.15% lower at 23,401.85, and the BSE Sensex was trading 0.09% down at 76,971.26.

Money Market Update: Rupee Opens Stronger; Bond Yield Falls

Rupee Opens Stronger Against US Dollar 

  • Rupee strengthened 21 paise to open at 85.48 against US dollar

  • It ended at 85.69 a dollar on Wednesday

Source: Bloomberg

Yield On The 10-Year Bond Opens Lower

  • The yield on the 10-year bond opened 2 basis points lower at 6.39%

  • It closed at 6.41% Wednesday

Source: Bloomberg

Stock Market Live Update: Motilal Oswal on Avalon Technologies

  • Retain Buy with TP 970, Upside 17%

  • India’s EMS space is believed to be in a favorable situation vs peer countries

  • EMS sector may see gradual shift of some business from China to India in mid to long term

  • China exported 20% of total electrical machinery to US in CY24 vs. India’s 1.7%.

  • Avalon has 58% of its revenue from US customers in 9M FY25

  • Avalon’s cost-plus structure on products would mitigate margin pressures due to tariffs

  • The company has well-established manufacturing presence in US with 12% US manufacturing revenue

  • Avalon is in a position to shift back automated tasks to the US plants to reduce tariff exposure

  • The estimated 30%/57%/80% CAGR in revenue/EBITDA/adj. PAT over FY24-27

Gold Prices Hit Record High Again 

Gold prices hit record high again as uncertainty over international trade continued to batter risk-on sentiment. Moreover, the US Federal Reserve Chair Jerome Powell indicated the central bank is in no hurry to reduce interest rates.

The Bloomberg spot gold was trading 0.37% down at $3,330 an ounce as of 8:10 a.m.

Oil Prices Rise For Second Day As US Vows To Pressure Iran’s Exports 

Oil prices extend gains to a second session Thursday as the US vowed to keep on pressuring Iran to curb its oil exports. US Treasury Secretary Scott Bessent said that they will create maximum pressure to bring Iran’s oil exports to zero.

Moreover, oil inventory declined at Cushing Oklahoma, the delivery point for WTI. It declined approximately by 650,000 barrels to the lowest level since 2008, Bloomberg reported.

The brent crude was trading 0.61% higher at $66.25 a barrel, and the WTI crude was trading 0.82% higher at $62.98 a barrel, according to data on Bloomberg.

Asia Market Update: Most Market Rise On Progress In Trade Talks Between US & Japan 

After, erasing opening losses, most markets in Asia-Pacific region were trading higher on Thursday as progress on US-Japan trade talks eased some of worries over tariff. US President Donald Trump said that Japan’s trade negotiator made a significant progress in trade talks.

The Nikkei 225 was trading 0.68% higher at 34,151.40 as of 7:39 a.m.

The KOSPI was trading 0.44% higher as the Bank of Korea held interest rates steady at 2.75% in its latest policy meeting amid the ongoing uncertainty over international trade ecosystem.

China’s benchmark CSI 300 was trading 0.13% down as tension between two countries rose regarding tariff. The US imposed 245% tariff on China.

US Market Update: Share Indices Fall As Fed Worries About Tariff Impact 

US share indices ended lower as concerns over adverse impact of US tariffs rose after Federal Reserve Chair Jerome Powell said that the central bank is on wait and watch mode. Powell also said that there’s no rush in reducing the interest rates.

The Dow Jones Industrial Average and S&P 500 ended 1.73% and 2.24% down, respectively. The Nasdaq Composite ended 3.07% down.

GIFT Nifty Implies Higher Open; Angel One, Wipro, Lupin, Paytm Share Prices In Focus

The GIFT Nifty was trading higher, which implied a higher open for the NSE Nifty 50 Index in Thursday’s session. Angel One Ltd., Wipro Ltd., and Waaree Renewable Technologies Ltd. share prices may move because they released their quarterly results. Lupin Ltd., Zydus Lifesciences Ltd. and One 97 Communication Ltd. share prices will likely react because of their business-related news.

The GIFT Nifty was trading 0.29%, or 68 points higher, at 23,334.00 at 6:54 a.m.

Indian benchmark indices Sensex and Nifty 50 continued their upward trajectory to close higher for the third consecutive trading session on Wednesday.

Nifty 50 closed 0.47%, or 108.65 points higher, at 23,437. While the Sensex closed 0.40% or 309.40 points higher at 77,044.

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