Stock Market Live Updates: Sensex, Nifty set to open higher ahead of RBI’s key rate decision

Stocks to Watch: KPI Green Energy: Company gets new orders aggregating to 12.10 Mega Watt for solar power projects

Stocks to Watch: Sun Pharma: Drug maker to buy 37.76% stake in Ezerx Health Tech for Rs 28.69 crore

Stocks to Watch: Adani Wilmar: Co says September quarter profitability remained under stress due to lower edible oil prices.

Stocks to Watch: BCL Industries approves a proposal to split the shares of the company in ratio of 1:10

Stocks to Watch: Metropolis to buy SP Plus for $54.00 per share in cash

Stocks to Watch: Lupin gets tentative approval from US FDA for Tolvaptan tablets

Stock Market Live Updates: Who’s Meeting Whom

Ujjivan Small Finance Bank: To meet investors on Oct. 5 and 19.

TD Power Systems: To meet analysts and investors on Oct. 11.

Anand Rathi Wealth: To meet analysts and investors on Oct. 13

Pyramid Technoplast: To meet analysts and investors on Oct. 10.

Zaggle Prepaid Ocean Services: To meet analysts and investors on Oct. 10.

Persistent Systems: To meet analysts and investors on Oct 19.

Share Market Live Updates: Pledge Share Details

Chambal Fertilisers & Chemicals: Promoter Zuari Industries created a pledge of 10.77 lakh shares on Sept. 29.

Stock Market Live Updates: Insider Trades

CESC: Promoter Saregama India sold 1.54 crore shares on Sept. 25.

RPSG Ventures: Promoter Saregama India sold 3.08 lakh shares on Sept. 25.

Ion Exchange: Promoters Bimal Jain sold 1.07 lakh shares and Mahabir Prasad Patni sold 95,144 shares between Sept. 20 and 28

Stocks to Watch: Laxmi Organic board approves floor price for QIP at Rs 283.27 per share

Stocks to Watch: IndiGo introduces fuel charge on domestic & international routes to offset rising ATF prices

Stocks to Watch: K&R Rail signs accord for cable car project worth $500 million in Nepal

Stocks to Watch: Lemon Tree opens 669-room hotel in Mumbai under Aurika Hotels & Resorts brand

Stocks to Watch: Tata Motors’ JLR wholesales (excluding China JV) up 29 per cent (YoY)

Stocks to Watch: BHEL has received two awards in arbitration proceedings against Jaiprakash Power Ventures Limited in two separate cases.

Stocks to Watch: SAT sets aside SEBI order against Vedanta’s Cairn in alleged buyback fraud

Stocks to Watch: Archean Chemicals has incorporated a Wholly Owned Subsidiary namely Idealis Chemicals

Stocks to Watch: Tata Communications completes acquisition of Kaleyra, a leading global CPaaS platform player

Stocks to Watch: Godrej Consumer organic business delivered steady performance with mid-single digit volume growth

Stocks to Watch: Utkarsh SFB gross loan portfolio registered a substantial year-on-year surge of 26 per cent, reaching Rs 14,894 crore

Stocks to Watch: Bank of Baroda board of directors to meet on October 11 for fundraising via Bonds

Stocks to Watch: Archean Chemicals has incorporated a Wholly-Owned Subsidiary namely Idealis Chemicals Private Limited

Stocks to Watch: Tata Communications completes acquisition of Kaleyra, a leading global CPaaS platform player

Stocks to Watch: Som Distillery plans Rs 200 crore QIP with Rs 350/share floor price

Som Distillery looking to raise upto Rs 200 crores via QIP, Indicative Floor price at Rs 350 per share, 5 per cent discount offered

Stocks to Watch: Govt extends SBI Chairman Dinesh Khara’s tenure till August 2024

Stocks to Watch: Sun Pharma to acquire 37.76% stake in Ezerx Health Tech for Rs 28.69 crore

Stocks to Watch: Oil Refining stocks in focus as Singapore GRMs hovering at $4.45/bbl; lowest since July 7

Stocks to Watch: Ujjivan SFB’s CASA ratio declines to 24% YoY

Ujjivan SFB’s CASA ratio at 24 per cent against 26.9 per cent YoY. It was down marginally compared to 24.6 per cent QoQ

Stocks to Watch: Tinplate faces Rs 40 crore penalty from tax office

Tinplate said the Office of the Deputy Commissioner of Commercial Taxes, Jamshedpur Circle, has imposed a penalty of Rs 40 crore on the company.

Stocks to Watch: CRISIL places Vedanta long-term debt on negative watch

Stocks to Watch: Mankind Pharma manufacturing facility at Daring block, Berimok disrupted due to disturbance in power/utility supply

Commodities Market Live Updates: Oil poised for sharp weekly drop

WTI crude prices increased around $83 per barrel on Friday, but were still expected to lose about 9 per cent this week as fears about a tight supply were overcome by a worsening prognosis for global demand. The four-week average of US petrol demand fell to its lowest point for this time of year since 1998 on Wednesday, according to EIA statistics, while US petrol supplies increased at their fastest rate since the first week of 2022. News that Russia was considering relaxing its ban on diesel in the coming days put additional pressure on oil prices. Analysts also hypothesised that a decline in seasonal travel may have coincided with the start of demand destruction.

Share Market Live Updates: Kalyan Jewellers Q2 update

Quarterly Update: Q2 FY 2024

We continue to witness robust momentum in both footfalls and revenue across all our markets in India and the Middle East recording consolidated revenue growth of ~27% for the recently concluded quarter when compared to the same period in the previous financial year and ~29% revenue growth in the first half of the current financial year when compared to the same period in the prior year.

We saw revenue growth of ~32% for our India operations during Q2 FY2024 as compared to Q2 FY2023, led by robust operating momentum on the ground with healthy same-store-sales- growth across all the key markets in the country despite the Adhik Maas period falling in the quarter from the 3rd week of July until the 3rd week of August, a once in a 3-year phenomenon during which wedding jewellery demand tends to take a pause. However, this impact was mitigated by a fewer number of Shradh days during the recently concluded quarter when compared to the same period in the previous financial year. Non-south markets recorded higher revenue growth largely due to the greater number of showrooms launched in that region over the last twelve months. Overall, the first half of the current financial year witnessed ~33% revenue growth in India when compared to the same period in the prior year.

Gross margin at the showroom level has been stable when compared to the same period in the previous financial year. As expected, given the higher share of revenue from franchised showrooms, blended gross margin has declined sequentially as well as when compared to the same period in the previous financial year.

We added 13 new ‘Kalyan’ showrooms across non-south markets during the recently concluded quarter and plan to launch a further 26 showrooms in the next 40 days, as part of the previously announced showroom roll-out plan, taking the total number of new showrooms launched during the current financial year to 51 by Diwali. In addition, we signed 6 LOIs for the first set of pilot franchised showrooms in the south region and we expect to launch these showrooms sometime during the second half of the current financial year.

In the Middle East, we continued to witness positive operating momentum. As previously indicated, Eid holidays-driven sales (recorded during Q1 of the current financial year), which was part of the Q2 revenue base in the prior year, impacted the overall revenue growth during the recently concluded quarter. Revenue growth for Q2 FY 2024 was in excess of 4% while revenue growth for the first half of the current financial year was ~13% as compared to the respective periods in the previous financial year. We launched the first franchised showroom in the Middle East region during the recently concluded quarter and have signed an additional 5 LOIs for franchised showrooms in the region.

Middle East contributed ~14% to our consolidated revenue for the recently concluded quarter.

Stock Market Live Updates: Opening bid: Indian stocks set to open higher ahead of RBI’s key rate decision

Indian shares are set to open higher on Friday, tracking a rise in global equities on easing U.S. yields and cooling crude prices, ahead of the Reserve Bank of India’s monetary policy decision, where the bank is expected to stand pat on key rates.

India’s GIFT Nifty was trading up 0.01% at 19,607, as of 7:59 a.m. IST, indicating that the Nifty 50 will open higher from Thursday’s close of 19,545.75.

The RBI’s rate decision will be announced at 10:00 a.m. IST.

A Reuters poll of 71 economists in late September showed that the RBI would keep its key repo rate unchanged at 6.50% on Friday.

“The markets are anticipating a pause, a status quo from the RBI. The commentary regarding recovery in the domestic economy and inflation trajectory will be particularly crucial, given the recent volatility in crude prices,” said Narendra Solanki, head of fundamental research at Anand Rathi Investment Services.

The pause in rate hikes so far this fiscal year, after an increase of 250 basis points in fiscal 2023, has helped the benchmark Nifty 50 jump 12.59% since April and hit all-time highs.

Oil prices extended slide on Thursday on concerns over global demand. Fall in crude prices helps importers like India.

Foreign institutional investors extended their selling streak for the 12th consecutive session on Thursday, offloading shares worth Rs 1,864 crore on a net basis. Domestic institutional investors bought Rs 521 crore. – Reuters

Stock Market Live Updates: Nykaa Performance Update – Q2 FY2024

Macro indicators of the Indian economy continue to remain stable with strong GDP growth, robust GST collections, and stable interest rates. However, the industry estimates indicate slightly subdued discretionary consumption, primarily on account of a delayed festive season.

In contrast, Nykaa has witnessed a strong quarter across all verticals.

Consumption in the Beauty and Personal Care (BPC) categories remain healthy. The beauty vertical continues to expand through the ecommerce business, physical store expansion and growth of our owned brands. The growth was supported by the success of our flagship event ‘Hot Pink Sale’ in July. Our BPC business NSV for the quarter is expected to grow around twenty percent on YoY basis. The festive season is a big driver for lifestyle categories and has witnessed a delay this year, moving into October versus commencing in September last year. This shift has a base impact on the Q2 FY24 growth to some extent.

Nykaa Fashion has witnessed strong momentum in Q2 FY24. This stands in contrast to the overall apparel industry which continued to see sluggish demand this quarter, especially in the small towns. However, the industry is expected to see improving trends in the festive season. Within the quarter, Nykaa Fashion has optimized the core category mix along with improvement in order volumes. Fashion NSV for the quarter is expected to grow in early thirties on YoY basis.

For Q2 FY24, at a consolidated level, we expect our NSV to grow in the mid-twenties and revenue to grow in the early twenties on YoY basis, both at levels similar to Q1 FY24. Overall, the H1 FY24 performance sets up Nykaa well for the year with second half historically witnessing superior consumer demand.

Share Market Live Updates: Chirag Shah and Nirupama Khandke announce open offer for Evergreen Textiles at Rs 1.45 per share

Open Offer by Chirag Kanaiyalal Shah (Acquirer 1) and Nirupama Charuhas Khandke (Acquirer 2) to the public shareholders of Evergreen Textiles Limited at Rs. 1.45 a share to acquire up to 12,47,535 shares, representing 25.99 per cent of the Voting Share Capital of the company, opens on Friday, October 6, 2023, and closes on Thursday, October 19, 2023.

Currency Market Live Updates: Rupee to rise slightly ahead of RBI decision, key US labour data

The Indian rupee is likely to open slightly higher on Friday, following a further pullback on the dollar index ahead of the U.S. non-farm payrolls report.

Traders are also eyeing the Reserve Bank of India’s monetary policy decision and commentary.

Non-deliverable forwards indicate the rupee will open at around 83.21-83.22 to the U.S. dollar, compared with its previous close of 83.25.

The dollar index dropped below 106.50 on Thursday, slipping further away from year-to-date highs. The pullback was attributed to profit taking before the U.S. September jobs report. – Reuters

Share Market Live Updates: Karur Vysya Bank revises Marginal Lending Rates by 0.05%

Karur Vysya Bank revises Marginal Cost of Funds Based Lending Rates by 0.05 percentage point

Share Market Live Updates: Sinclairs Hotels buyback opens today

Sinclairs Hotels Ltd has announced an Offer for buyback of up to 15,20,000 fully paid up equity shares of face value of Rs 2 each, representing 5.60 per cent of the total Number of equity shares in the paid up equity share capital of the company from the equity shareholders/Beneficial owners of equity shares of the company as on the record date i.e., Friday, September 29, 2023, on a proportionate basis through the tender offer route at a price of Rs. 200 a share payable in cash for an aggregate consideration not exceeding Rs 30.40 crore from Friday, October 6, 2023, To Thursday, October 12, 2023.

Commodities Market Live Updates: Gold pauses after nine-session down streak ahead of US payrolls data

Gold paused near a seven-month low on Friday after declining for nine straight sessions, as investors held their breath for U.S. nonfarm payrolls data that could determine whether interest rates will be raised again.

FUNDAMENTALS

* Spot gold was steady at $1,820.35 per ounce by 0103 GMT, while U.S. gold futures rose 0.1% to $1,834.10. Prices have closed lower in all of the previous trading sessions since Sept. 25, extending losses by 1.5% so far this week.

* Benchmark U.S. 10-year bond yields held near 16-year highs and the U.S. dollar remained on track for 12 straight weeks of gains, eroding demand for non-yielding and greenback-priced gold.

* Federal Reserve officials on Thursday indicated little concern that the recent rise in U.S. Treasury yields could imperil a “soft landing” for the economy, and said it could actually help the central bank in its fight against inflation.

* Data on Thursday showed the number of Americans filing new claims for unemployment benefits rose moderately last week, while layoffs declined in September.

* U.S. trade deficit shrank to its smallest in nearly three years in August, with exports of capital goods hitting a record high.

* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.2% to 867.58 metric tons on Thursday, their lowest since August 2019.

* Spot silver gained 0.3% to $20.96, platinum firmed 0.2% to $856.30 and palladium rose 0.6% to $1,148, having hit 5-year lows in the last session. All were on track for weekly losses.

* Prices for platinum-group metals could remain depressed, CEO of the world’s biggest platinum miner by value, Anglo American Platinum, told Reuters.

Share Market Live Updates: Major U.S. listed stocks result calendar 05.10.2023

Constellation Brands Inc. (Pre market) (Sector-FMCG)

Lamb Weston Holdings, Inc. (Pre market) (Sector- FMCG)

ConAgra Brands, Inc. (Pre market) (Sector- FMCG)

Stock Market Live Updates: Edelweiss Financial Services Rs 100-cr NCD issue opens today

Edelweiss Financial Services’ secured redeemable non-convertible debentures of face value of Rs 1,000 each for an amount up to Rs 100 crore (“Base Issue Size”) with a Green Shoe Option of up to Rs 100 crore, cumulatively 20 lakh NCDs for an amount aggregating up to Rs 200 Crore opens today and closes on October 19.

IPO Watch: Record participation by Retail investors in Plaza Wires IPO

The initial public offering of Plaza Wires saw the highest ever participation by retail investors in the country so far.

While the issue was subscribed to 160.97 times on Thursday overall, the portion reserved for retail investors saw a whopping response of 374.81 times, beating the previous record set by Latentview Analytics and Paras Defence and Space Technologies. In the case of the former, the retail portion was subscribed by over 119 times, and the latter attracted nearly 113 times. Both the companies came out with the IPO in 2021.

Stock Market Live Updates: Sectoral Outlook: Freight & Cargo Monthly: Emkay Global Financial

We monitor monthly indicators to assess the freight and cargo movement across the road, port and rail networks. For Sep-23, rail cargo volumes and GST e-way bill generation continued tracking their upward trajectories, growing 6.7% and 10% YoY, respectively, while major port volumes were largely flat YoY. Rail container cargo volumes in Sep-23 increased 22% on YoY basis, with Q2 volumes up 15% YoY, suggesting positive volume trends for rail logistics operators, such as Container Corporation of India (Not Rated) and Gateway Distriparks (Not Rated). Additionally, the rail coefficient in EXIM container trade reached 37.9% — the highest since Jun-21, indicating gains from the commissioning of parts of the Western Dedicated Freight Corridor (DFC). Continued growth in GST e-way bill generation bodes well for road logistics service providers such as VRL Logistics (Not Rated), as a shift from the unorganized sector seems imminent, given increasing compliance requirements under the GST regime.

Stock Market Live Updates: Sectoral Outlook: Motilal Oswal Financial Automobiles 2QFY24 Preview: Festive season to see healthy volume growth; exports recovering

– From a demand standpoint, 2QFY24 was a mixed bag as PV and CV continued to expand YoY but 2W and tractors declined. MHCV appeared to be better placed despite a drop in discounts, driven by healthy demand across most of the underlying industries

– On a YoY basis, wholesale volumes are estimated to grow ~15% for MHCV, ~11% for PV, 20% for 3W and 1% for LCV. However, we estimate 2QFY24 volumes to decline 2% YoY for 2W and 4% YoY for tractors. Domestic 2W volumes are expected to decline 3% YoY, whereas exports are likely to grow 3.5% YoY.

– We estimate the EBITDA margin of our Auto OEM Universe (ex-JLR) to expand for the sixth consecutive quarter on a YoY basis. EBITDA margin is likely to improve 200bp YoY (+50bp QoQ) driven by lower RM costs, favorable FX and operating leverage benefits.

Share Market Live Updates: Bajaj Finance to raise Rs 10,000 crore via QIP, convertible warrants

– Bajaj Finance has received board approval to raise up to Rs 10,000 crore through qualified institutional placement (QIP) and convertible warrants.

– The company plans to raise up to Rs 8,800 crore through the QIP issue and Rs 1,200 crore via convertible warrants.

Stocks to Watch: The Economist, Infosys join hands

Infosys and Economist Impact, an arm of The Economist Group that works with organisations globally to further their missions, have announced the launch of the Value Chain Navigator (VCN) to help businesses understand and address their scope 3 emissions.

Share Market Live Updates: Securities In F&O Ban For Trade Date 06-OCT-2023:

DELTACORP

IBULHSGFIN

MANAPPURAM

PNB

IPO Watch: New listing: Valiant Laboratories

Shares of Valiant Laboratories Limited will be listed in the bourses today. The issue Price is Rs 140. a share.

The company had raised Rs 152 crore through the IPO.

Valiant Laboratories IPO was subscribed 29.76 times, thanks mainly to High networth individuals (HNIs) who subscribed 73.64 times against their quota and retail investors 16.06 times

The company, which specialises in manufacturing Paracetamol as an Active Pharmaceutical Ingredient (API) or Bulk Drug, plans to utilise the funds for investment in Valiant Advanced Sciences Pvt Ltd (VASPL), a wholly-owned subsidiary, to partially fund its capital expenditure needs in connection with the establishment of a manufacturing facility for specialty chemicals at Saykha Industrial Area, Bharuch, Gujarat.

As part of the IPO, Valiant Laboratories on Tuesday raised ₹45.74 crore from anchor investors. Leading Light Fund VCC – The Triumph Fund – bought shares worth ₹20 crore. Saint Capital Fund, Astorne Capital VCC – Arven, and Negen Undiscovered Value Fund – also participated in the anchor book.

As part of the IPO, Valiant Laboratories on Tuesday raised ₹45.74 crore from anchor investors. Leading Light Fund VCC – The Triumph Fund – bought shares worth ₹20 crore. Saint Capital Fund, Astorne Capital VCC – Arven, and Negen Undiscovered Value Fund – also participated in the anchor book.

Share Market Live Updates: Earnings Calendar 06.10.2023

JUPITER LIFE

Share Market Live Updates: Zaggle & BOB in tie up

Zaggle Prepaid Ocean Services Limited has entered into a contract with BOB Financial Solutions Limited for Implementing Commercial card Onboarding & value-added services platform.

Stocks to Watch: Panacea Bio updates Apotex litigation case

Panacea Biotech has received a notification from the International Court of Arbitration, Paris intimating that an Arbitration proceeding has commenced with respect to the Request for Arbitration filed by Apotex Inc., an entity based out in Canada. Apotex had alleged that Panacea has breached obligations under the Collaboration Agreement for Research, Development, License, Supply and Sale of Products dated. Subject to outcome of the above litigation, the contingent liability for the matter stands at $118.14 million, the company said.

Stocks to Watch: Order win for KPI Green

KPI Green has received new orders aggregating to 12.10 MW for executing solar power projects, out of which 3.10 MW capacity undertaken by KPI Green Energy Limited and 9 MW capacity by Sun Drops Energia Private Limited, a wholly owned subsidiary of the company under ‘Captive Power Producer (CPP)’ segment of the company.

Stocks to Watch: IndiGo to spread wings

IndiGo (InterGlobe Aviation) has re-commenced direct flights between Delhi and Hong Kong, effective October 5. This reinstatement aims to strengthen strategic ties, capitalising on the rich socio-cultural diversity between one of South Asia’s largest economies and a vital business and travel hub in the Asia-Pacific region. These flights will serve both business and leisure travelers during the upcoming winter schedule, providing enhanced flight options and a seamless travel experience.

Share Market Live Updates: Block deal Alert: Media Buzz — Shares of PB Infotech will remain in focus

Shares of PB Infotech will remain in focus on reports that SoftBank Group plans to sell a 2.54 per cent stake in the company through block deals on Friday. The Japanese conglomerate is likely to sell the stake at a price range of Rs 752-767 a share in Policy Bazaar owner, the report added

Share Market Live Updates: Adani Wilmar’s Q2 profitability under pressure amid divergent trends

ADANI WILMAR: CO SAYS PROFITABILITY FOR QUARTER REMAINED UNDER STRESS DUE TO DIVERGENT TRENDS || IN QTR, FOOD & FMCG BUSINESS CONTINUED TO GROW RAPIDLY, WITH SEGMENT REVENUE GROWTH OF AROUND 25% (YOY) CO SAYS INDUSTRY ESSENTIALS VOLUME GREW BY ALMOST 25% (YOY) || COMPANY DELIVERED STRONG VOLUME GROWTH IN DOUBLE-DIGITS IN Q2 CO SAYS Q2 SALES VALUE DECLINE ON A YOY BASIS IS REFLECTIVE OF THE SHARP FALL IN GLOBAL EDIBLE OIL PRICES || Q2 TOTAL SALES VOLUME UP 11% || Q2 TOTAL SALES VALUE DOWN 13%

Stock Market Live Updates: Economic Calendar – 06.10.2023

China Market Holiday

10:00 INDIA RBI Interest Rate Decision (Expected: 6.5% versus Previous: 6.5%)

10:00 INDIA RBI Press Conference

Stock Market Live Updates: Shishir Baijal, CMD of Knight Frank India, shares his expectations from the RBI MPC meeting

“We expect the Reserve Bank of India’s Monetary Policy Committee (RBI MPC) to keep the REPO rate unchanged to remain supportive of growth. However, the central bank will likely maintain a precautionary stance because of the inflationary pressure arising from external factors such as rising crude prices and Indian currency, which is at an all-time low. A pause will be supportive of the real estate sector in maintaining its current momentum. With the last few revisions, the REPO rate has gone up by 250 BPS, resulting in 160bps hike in the base lending rate, with the last three revisions being completely passed on to the home buyers. This has started to impact housing demand, especially in the affordable segment. The mid segment too has seen growth moderating in the last few quarters. A further increase in the REPO rate could potentially dampen buyers’ sentiment and impact housing affordability.”

Stock Recommendations: Broker’s call: Navin Fluorine (Buy)

We attended the call held by Navin Fluorine International (NFIL) to update on the resignation of the CEO, Radhesh Welling.

Vishad Mafatlal, the Chairman handled most of the queries. The search for a senior professional as a successor is underway and will be updated in due course. The management mentioned that all the top clients have been informed about this transition and all of the major capex is on track although there could be slight delays of a quarter or so.

Stock Recommendations: Broker’s call: Marico (Buy)

Marico’s commentary on the Q2 topline sounded weaker than our expectations, while that on profitability was in line.

We now build in about 1 per cent consol. revenue decline vs earlier expectation of about 2 per cent growth (incl. 1 per cent contribution from Plix). Lower growth in Q2 is largely owing to the weak show in domestic edible oil, wherein Marico saw a low single-digit volume growth vs our estimate of a high single-digit growth.

Stock Market Live Updates: Economy Watch: Bank credit growth moderates in Q2, deposit growth matches pace

Credit growth for banks continued to be healthy in the second quarter of the current financial year at 10-24 per cent but moderated slightly from 14-30 per cent in the previous quarter, as per provisional numbers declared by some lenders so far.

Credit growth for banks continued to be healthy in the second quarter of the current financial year at 10-24 per cent but moderated slightly from 14-30 per cent in the previous quarter, as per provisional numbers declared by some lenders so far.

Commodities Market Live Updates: Coffee exports down a tad on lower green beans offtake

The country’s coffee exports fell marginally in volume during the first half of the current financial year on reduced off-take of green beans.

But shipments value increased. Exporters said the outlook for the remaining year would depend on the crop size, which is seen influenced by erratic weather pattern.

Stock Market Live Updates: Day trading guide for October 06, 2023: Intraday supports, resistances for Nifty50 stocks

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

Stock Recommendations: Stock to buy today: Prestige Estates Projects (₹671.35): BUY

The short-term outlook is bullish for Prestige Estates Projects. The stock surged over 7 per cent on Thursday, indicating that the upmove has gained momentum. This rise has happened after a short consolidation between ₹590 and ₹620 for about two weeks

Stock Market Live Updates: Asian markets hold steady ahead of crucial US payrolls data

Asian markets remained relatively stable as investors awaited the monthly US payrolls report, a key factor influencing future Federal Reserve interest rate decisions.

In early trade, Japan’s Nikkei 225 index held steady with a minimal increase of 0.011 percent or 10.07 points at 31,845.35, while the broader Topix index declined by 0.32 percent or 7.25 points to 2,270.27. South Korea’s Kospi exhibited a modest 0.49 percent gain, trading at 2,416.12, and the Hang Seng Index in Hong Kong rose by 0.91 percent, reaching 17,370.03.

Despite the Federal Reserve’s efforts to combat inflation through interest rate hikes, the robust labor market has kept unemployment levels low. This may necessitate the continuation of higher interest rates for an extended period, potentially impacting stock prices on Wall Street.

Stock Market Live Updates: US Stocks inch lower ahead of employment data

On Thursday, U.S. stocks experienced a slight dip as traders prepared for crucial employment data that could potentially impact future interest rate trends.

The Dow Jones Industrial Average concluded the day without significant change, settling at 33,119.57, after bouncing back from earlier declines.

Similarly, the comprehensive S&P 500 recorded a marginal decline of 0.1 percent, closing at 4,258.19, mirroring the performance of the technology-focused Nasdaq Composite Index, which also dipped to 13,219.83.