Stock Market Live Updates: L&T Bags Order Worth In Range Of Rs 1,000–2,500 Crore
Larsen & Toubro Ltd.’s civil infrastructure vertical received an order in the range of Rs 1,000-2,500 crore for Agra Metro Network, it said in an exchange filing.
Large–Cap Mutual Fund Flips As Most Outperforms Benchmark Indices In 2024
While Indian equities’ benchmark Nifty 50 pared over 4% from its lifetime high levels in September, most actively managed large-cap funds faced a relatively muted decline. Though the outperformance of actively managed mutual funds amid market downturns is well recorded, the same has not held true amid uptrends over longer periods. However, the calendar year 2024 so far has seen an unusual flip in.
BEML Share Price Continue Gains After Bullet Train Order
BEML Ltd. share price continued to advance on Wednesday after it got the deal to make India’s first set of bullet trains from a local government vendor.
BEML share price was trading 4.77% higher at Rs 3,898.95.
Stock Market Live Updates: BSE Share Price Falls After Jefferies Cuts Rating To ‘Underperform’
Shares of BSE Ltd. declined during early trade on Wednesday after Jefferies downgraded the stock to “underperform” and forecast a potential decline of 27% to its share price.
BSE share price was trading 3.84% down at Rs 4,570.00.
Strides Pharma Share Price Hits Life High After Unit Gets Investment Commitment
Strides Pharma Science share price rose to record high on Wednesday after the company’s unit received confirmed investment of Rs 801 crore. The stock price rose as much as 2.17% to Rs 1,600, the highest level since its listing on on Feb 2, 2000. It was trading 2.15% higher at Rs 1,599.60 as of 09:39 a.m.
Strides Pharma rose as much as 2.17% to Rs 1,600, the highest level since its listing on on Feb 2, 2000.
Stock Market Live Updates Today: Cochin Shipyard Share Price Falls Over 4%
Cochin Shipyard share price declined over 4% as the Government of India is divesting 5% stake in the company. The stock was trading 2.52% down at Rs. 1,629.90 as of 09:30 a.m., as compared to 0.13% decline in the NSE Nifty 50 index.
Cochin Shipyard share price was trading 2.52% down at Rs. 1,629.90 as of 09:30 a.m
Cochin Shipyard Share Price Falls As Government Plans To Sell 5% Stake
Nifty, Sensex Extend Losses As Infosys, ICICI Bank Drag: Opening Bell
The NSE Nifty 50 and BSE Sensex extended losses at open on Wednesday as Infosys Ltd. and ICICI Bank share prices declined. As of 09:16 a.m., the Nifty 50 was trading 29.45 points or 0.12% down at 25,027.90, and the Sensex was 149.55 points or 0.18% down at 81,670.56.
The hourly support average has moved higher to 24,980 levels and would act as trend reversal on the downside from current levels, said Vikas Jain, head, Reliance Securities.
The Relative Strength Index has failed to cross the averages from the lower range and other key technical indicators are in neutral mode from current levels. The Highest call open interest has moved higher to 25,500 strikes while the downside the highest put OI is at 25,000 for the weekly expiry, Jain added.
The Sensex was trading 0.25% down at 81,611.89.
The Nifty 50 index was trading 0.18% down at 25,012.70.
The NSE Nifty Bank was trading 0.15% down at 51,826.00.
Infosys Ltd., Tata Consultancy Services Ltd., Nestle India Ltd., ICICI Bank Ltd., and Mahindra & Mahindra Ltd. weighed on the index.
HDFC Bank Ltd., Bharti Airtel Ltd., Coal India Ltd., Bharat Petroleum Corp Ltd., and Asian Paints Ltd. added to the index.
Top contributors to the NSE Nifty 50 index.
On NSE, six sectoral indices were trading lower, five higher, and one remained flat out of 12. The NSE Nifty FMCG declined the most, while the NSE Nifty Oil & Gas rose the most.
Most sectoral indices open lower at NSE.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices were trading 0.04% and 0.12% higher, respectively.
On BSE, nine sectoral indices advanced, one was flat, and 10 declined out of 20. The BSE Oil & Gas rose the most, and the BSE Auto declined the most.
Market breadth was skewed in favour of buyers. Around 1,587 stocks rose, 1,021 stocks declined, and 143 stocks remained unchanged on BSE.
Stock Market Live: Nifty, Sensex Trades Lower At Pre–Open
At pre–open, the NSE Nifty 50 was trading 0.19% down at 25,008.55, and the BSE Sensex was 0.21% down at 81,646.60.
Yield On The 10-Year Bond Declines
The yield on the 10-year bond declined 2 bps to 6.75%. It closed at 6.77% on Tuesday, according to data on Bloomberg.
Rupee Flat Against US Dollar
Rupee opened flat at 84.05 against the US dollar. It closed at 84.04 on Tuesday, according to data on Bloomberg.
Goldman Sachs On India Industrials
Most indicators were weak but showed improvement on a M-o-M basis
Container volumes, air traffic and engineering exports grew steadily
Coal offtake and petrol, diesel demand showed flattish to low single digit growth
New capex intention picked-up in Q2 resulting in 1H being flat on annualised basis
Stock Market Live Update Today: Cochin Shipyard Share Price Likely To Move
Cochin Shipyard Ltd. share price is expected to move in Wednesday’s trading session due to the news the Government of India is set to divest 5% stake in the company through an offer for sale. The offer will open on Wednesday and conclude on Thursday. To know more click here.
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Stock Market Live: GIFT Nifty Hovers Around 25,000
The GIFT Nifty continued to hover around 25,000 in the pre–market hour. The GIFT Nifty was trading 0.07% or 18 points lower at 25,036.00 as of 08:34 a.m.
Asia FX Update: Asian Currencies Rise Against US Dollar Before Central Banks’ Decisions
Asian currencies rose on Wednesday as investors await rate decision from the Indonesia, Philippines, and Thailand. Bank Indonesia, Bank of Thailand are likely to keep their benchmark rates on hold, while Bangko Sentral ng will likely go for 25–basis–point rate cut, according to Bloomberg.
The Indonesia rupiah and Philippine peso were trading 0.40% and 0.10% down, respectively as of 08:22 a.m. IST. The Thai Baht was flat against the US dollar.
Stock Market Live: Gold Future Prices Rises As US Treasury Yield & Dollar Index Fall
Gold future prices continued to rise in Asia–Pacific trade on Wednesday as the other safe–haven assets: US Treasury yield and dollar index softened.
A rise in US dollar makes the bullion more expensive for other countries, while a rise in US treasury yields reduces the charm of the metal.
As of 8:08 a.m., the Gold December future was trading 0.21% higher at $2684.30.
Godrej Properties Emerges As Highest Bidder For A Project In Mumbai
Godrej Properties Ltd. emerged as highest bidder for three adjoining plots measuring 6.5 acres in Mumbai Metropolitan Region. The land parcels in Kharghar to have combined revenue potential of Rs. 3,500 crore, the company said in an exchange filing.
Stock Market Live: US Treasury Yield Steady
The yield on the benchmark 10–year US Treasury note was trading flat in Asian trade amid lack of significant cues. In Tuesday, the yield settled lower as investors assessed economic outlook after the Federal Reserve officials remark suggested the US central bank will go slow with rate cuts.
The yield on the 10–year US treasury note was trading at 4.03% as of 7:48 a.m. IST.
Earning Q2: KEI Industries Net Profit Rises 11%; Misses Estimates
KEI Industries Ltd.’s standalone net profit rose 11% year-on-year in the July–September quarter of the current financial year, missing analysts’ expectations. The company’s stock will be in focus in Wednesday’s trading session due to the second quarter result.
Read more about the quarterly result of KEI Industries.
Stock Market Today: Crude Oil Prices Rebound
Crude oil future prices rebounded in Asian trade Wednesday as concerns about Israel attacking energy infrastructure of Iran resurfaced after the country said that it will take its own decision about how to attack.
The December future of brent crude was trading 0.33% higher at $74.58 a barrel as of 7:11 a.m. IST.
Asia Market Update: Nikkei 225 Leads Losses Tracking Wall Street Fall
Markets in Asia–Pacific slid on Wednesday with the Japan’s benchmark Nikkei 225 leading losses. The indices tracked overnight losses from Wall Street after as concern rose over technology stocks after Dutch ASML Holding NV booked only half the orders analysts has estimated in last three months.
The Nikkei 225 was trading 699.57 points or 1.75% down at 39,210.98, and the S&P ASX 200 was trading 16.40 points or 0.20% down at 8,302.00 as of 07:17 a.m. The KOSPI was 25.81 points or 0.98% down at 2,607.64.
US Market Update: Stocks Decline As Concern Over Technology Companies Rise
Share indices on Wall Street fell from their all–time high on Tuesday after Europe’s most valued technology firm provided with disappointing outlook, Bloomberg reported.
The S&P 500 ended 0.76% down at 5,815.26, and the Nasdaq Composite settled 1.01% down at 18,315.59. The Dow Jones Industrial settled 0.75% down at 42,740.42.
GIFT Nifty Near 25,000; Bajaj Auto, Cochin Shipyard KEI Industries Share Prices In Focus
The GIFT Nifty was trading near 25,000 in early trade on Wednesday. KEI Industries, Rallis India share prices may react because of their earning for second quarter, released on Tuesday. Bajaj Auto Ltd. is set to announce it quarterly financials today, while Cochin Shipyard Ltd. share prices may see movement due to news flow.
The GIFT Nifty was trading 0.22% or 56.5 points down at 25,055.0 as of 06:36 a.m.
Overall, Motilal Oswal Financial Services expects markets to consolidate in the near term in the absence of any major triggers. Although Q2 results would continue to provide stock-specific action, said Siddhartha Khemka, head, research, Wealth Management.
The NSE Nifty 50 and BSE Sensex failed to extend its gain from Monday The benchmarks closed lower on Tuesday tracking a decline in Reliance Industries share price.
The Nifty fell by 0.28% or 70.60 points to close at 25,057.35, while the Sensex dropped 0.19% or 152.93 points to finish at 81,820.12.
Reliance Industries Weak Q2 Results Pull Nifty, Sensex Lower: Market Wrap. Read more on Markets by NDTV Profit.The Nifty 50 and Sensex were trading 0.03% and 0.03% down, respectively. Get live updates on Indian stock markets here on Oct 16. Read MoreMarkets, Business, Notifications
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