Stock Market Today: M&M Plans To Subscribe Fully To Rights Entitlement In Its Units 

Mahindra & Mahindra Ltd. plans to fully subscribe to its rights entitlement in Mahindra Finance and Mahindra Life Development , and also plans to subscribe to additional shares, including any unsubscribed portion, up to the total issue size.

Emkay’s Positive View on Indian Metal Stocks

Pecking Order: Nalco, Vedanta, Hindalco Ind

  • Expect Hindalco, Vedanta, Nalco to generate upcycle profitability & returns

  • Market factoring in 16.5%/11% lower commodity prices for Nalco/Vedanta

  • Market factoring in 9.8% higher commodity prices for Hindalco

Alert: Stocks pricing in lower commodity prices tend to provide better downside cushion

  • If spot metal prices uphold, Nalco/Vedanta could see 16.8%/4.4% upgrade to their Ebitda

  • If alumina, aluminium prices stay higher for longer, near-term earnings would be due for an upgrade

Asia Market Update: Nikkei 225 Falls As Yen Strengthens Against US 

Most markets in the Asia-Pacific markets were trading lower tracking overnight movements in the US, and as the Japanese yen strengthens past the US dollar.

The Nikkei 225 was 0.03% down, and the S&P ASX 200 declined 0.21% down. The Hang Seng and CSI 300 were trading 2.49% and 0.34% higher, respectively.

US Market Update: Share Indices Fall From All-Time Highs On Disappointing Walmart Outlook

Share indices declined from all-time highs after Walmart Inc. provided a disappointing sales and profit guidance and expressed concern over consumers’ behavior weighed.

On Thursday, the Dow Jones Industrial Average and S&P 500 ended 1.01% and 0.43% down, respectively. The Nasdaq Composite ended 0.47% down.

GIFT Nifty Above 22,800; Cipla, NTPC Green Energy, Vedanta Share Prices In Focus

The GIFT Nifty was trading above 22,800. Cipla Ltd., NTPC Green Energy Ltd., and Vedanta Ltd. share prices will be in focus.

As of 6:59 a.m., the GIFT Nifty was trading 41.50 points, or 0.18% down at 22,874.00.

The NSE Nifty 50 and BSE Sensex extended losses to a third day. The indices ended 0.09% and 0.27% down, respectively.

Intraday, Nifty fell 0.52% but stayed above the crucial support at 22,800, while Sensex lost 0.63% to slip below 75,500. The session also marked the weekly expiry for Nifty contracts.

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