Category: Economy

  • TCS, Infosys, HCL Tech, Wipro Q2 Results: Who Performed Better, Is IT Sector Out of the Woods? – News18

    TCS, Infosys, HCL Tech, Wipro Q2 Results: Who Performed Better, Is IT Sector Out of the Woods? – News18

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    Information technology companies have posted strong results for the second quarter of FY25, except Tata Consultancy Services (TCS). While Wipro and HCL Tech have posted strong Q2 FY25 results better than expected, Infosys has also posted good Q2 results with a better outlook but did not meet investors’ expectations. However, TCS fell short of expectations, with margins contracting, according to experts.

    TCS Q2 Results Review

    TCS reported a tepid 5% YoY rise in its net profit for the July-September (Q2) quarter as cautious trends seen in the last few quarters continued. The company saw a decent rise of about 8 per cent in its revenue, while its operating margin contracted slightly on a YoY basis.

    “The Q2FY25 result of TCS fell short of expectations, with margins contracting. Despite the above-estimated revenue growth, the margins continued to get pressurised, likely due to their deep dive into the talent pool. The offset expected from the deferment in wage hike didn’t come through. While the discretionary spending was impacted in the quarter, cybersecurity, AI, cloud, and TCS Interactive continued to grow,” Sagar Shetty, research analyst at StoxBox.

    With the expected rate cut in the US in the upcoming months, we expect a rise in discretionary spending, further improving the company’s revenue visibility. The key things to consider going ahead would be the management plans to achieve its margin guidance of 26-28% in FY25 and the likely shape-up of net headcount addition in the coming quarters. The company’s outlook on its order book and demand environment would also be key factors, he added.

    HCL Tech Q2 Results Review

    HCL Technologies has reported an 11 per cent rise year-on-year in its net profit to Rs 4,235 crore for the second quarter of FY25. The revenue from operations for India’s third-largest IT major during July-September 2024 rose 8.2 per cent to Rs 28,862 crore.

    Shetty said, “HCL Tech reported healthy financial performance during the quarter, beating estimates on all fronts. The revenue growth was driven by key deal wins across verticals, product offerings and geographies, with the Telecommunications, Media, Publishing & Entertainment vertical recording a solid 61.2% YoY CC growth, while Financial Services continued to be under pressure due to State Street disinvestment. The EBIT margin also stayed within the guidance range of 18-19% driven by positive operating leverage in the ER&D business. A lower attrition rate further highlights easing concerns on the talent pool.”

    We expect visible growth in H2FY25, with the impact of State Street receding. Going ahead, the management’s commentary on aspects like demand environment, TCV outlook, guidance for H2FY25 and attrition rate would be key factors to watch, he added.

    Wipro Q2 Results Review

    Wipro on Thursday reported a 21 per cent jump in its net profit to Rs 3,209 crore for the September 2024 quarter, on the back of higher spending by its clients in the US communications sector. Its revenue during July-September 2024 rose 1 per cent to Rs 22,300 crore.

    “Wipro recorded solid financials during the quarter, beating the market estimates on all counts. The company was able to meet its expectations for revenue growth, bookings and margins due to strong execution. During the quarter, the company continued to expand its top account, ensuring sustainable revenue growth. The company witnessed growth in three out of four markets while experiencing a steady recovery in BFSI, Consumer & Technology and Communication verticals. The company was able to improve its margins due to operational improvement,” Stoxbox’s Shetty said.

    Looking ahead, Wipro gave guidance of -2.0% to 0.0% in CC terms, indicating weak demand in the coming quarter. Overall, the company is pleased with its performance, delivering healthy growth across fronts. Commentary on discretionary spending expectations and pipeline & TCV will be watched closely, he added.

    Infosys Q2 Results Review

    Infosys has posted a 4.7 per cent rise in its net profit to Rs 6,506 crore for the second quarter ended September 2024. Its revenue during July-September 2024 increased 5.1 per cent to Rs 40,986 crore, compared with Rs 38,994 crore in the year-ago period.

    “Infosys reported healthy financials during the quarter, surpassing its annual and sequential levels, but it did not meet the street estimates on EBIT and PAT front. The company reported healthy revenue growth on the back of large deal ramp-ups and good momentum in financial services. The margins remained intact, driven by continued benefits from value-based pricing and utilization despite higher employee payouts. The company also increased its revenue growth guidance from the higher and lower end, reflecting its optimistic demand outlook,” Shetty said.

    Going ahead, the company seems positive about its capabilities to lead the market in Cobalt and generative AI with Topaz. With the highly expected rate cut rally going forward, we are positive about the company’s ability to secure large deals while focusing sharply on its margins. Management commentary on demand, vertical outlook, TCVs and pipeline would be key aspects to watch out for, he added.

    Is the IT Sector Out of the Woods Now?

    The information technology sector has remained bleak in the current financial year so far. Experts said the results now show a mixed trend in the sector and outlook for each company defers.

    “IT companies have delivered mixed results compared to expectations in the second quarter of the current financial year. Infosys, Wipro, and HCL Tech have outperformed the market, while TCS’s performance has been somewhat muted. Attrition remains under control across the industry, and the total headcount has decreased slightly. The muted growth is primarily driven by slow growth in the BFSI sector, although other segments have shown positive trends. TCS and Wipro have also lowered their growth guidance, citing potential macroeconomic challenges,” said Yashovardhan Khemka, senior manager (research) at Abans Holdings.

    Infosys has been a clear standout this earnings season, not only exceeding estimates but also raising its revenue forecast. The company’s total headcount has increased after a continuous decline over the past six quarters, indicating strong growth momentum, he added.

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  • Bajaj Auto Shares Skid 10% On Weak Q2 Performance; Should You Buy, Sell Or Hold? – News18

    Bajaj Auto Shares Skid 10% On Weak Q2 Performance; Should You Buy, Sell Or Hold? – News18

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    Bajaj Auto Share Price Today: Shares of Bajaj Auto continued their downward slide and tumbled more than 10 per cent to Rs 10,414 in morning trade on October 17 after the company posted lower-than-expected net profit in the second quarter. This comes after it revised its growth outlook for two-wheeler sales in India to a modest 5 percent, at the lower end of its earlier estimate of 5-8 per cent.

    For the quarter, the Pune-headquartered company reported a 9 per cent increase in standalone net profit to Rs 2,005 crore for the second quarter of FY2024-25, falling short of analysts’ estimates. Profit After Tax (PAT) grew from Rs 1,836 crore in the same quarter last year. Revenue for the July-September period rose 22 per cent to Rs 13,127 crore, compared to Rs 10,777 crore in the previous year.

    According to Chirag Jain, Senior Research Analyst at Emkay Global Financial Services, Bajaj Auto’s Q2 results were marginally weak due to a lower Average Selling Price (ASP).

    “The company’s two-wheeler retail growth has been muted, with market share loss in the fast-growing 125cc category; management expects FY25 industry growth to be closer to 5 per cent than 8 per cent if the ongoing below-par festive performance persists,” Jain said.

    The brokerage firm downgraded Bajaj Auto to ‘Sell’ from ‘Reduce’, and revised the target price to Rs 9,500 per share, implying a downside of over 18 per cent from Wednesday’s closing price.

    Emkay Global said it prefers Hero MotoCorp, with its better risk-reward and TVS Motor Company on improved growth prospects in the two-wheeler segment.

    Foreign brokerage firm Citi has a ‘Sell’ rating on Bajaj Auto and a target price of Rs 7,800 per share, signalling a downside of more than 32 per cent. It believes Bajaj Auto’s Q2 results were marginally below estimates due to a slight miss in ASPs and gross margin.

    Macquarie maintains a neutral stance on Bajaj Auto with a target price of Rs 11,200 per share. While Q2 was an in-line quarter, gross margins were disappointing due to a higher share of new products. Macquarie noted a muted festive outlook compared to its expectations.

    However, HSBC, Jefferies and Morgan Stanley have all issued bullish calls citing positive levers for growth ahead.

    With a target price of Rs 14,000 per share, HSBC says Bajaj Auto is catching up with a 30 per cent market share, and EV penetration has increased to 20 percent in the three-wheeler segment. This penetration is driven by a lower total cost of ownership (TCO) and favourable regulations and subsidies. HSBC also believes the next disruption will likely come from the formalization of the e-rickshaw space, with Bajaj’s potential launch being a key driver.

    Jefferies, also having a ‘buy’ recommendation on the counter, suggests that management remains optimistic about continued quarter-on-quarter improvements in exports. The brokerage projects a 14 per cent volume CAGR over FY24-27, driven by rising Indian two-wheeler demand and a cyclical recovery in exports. The company is also gaining market share in e-2Ws, ramping up CNG bike volumes, and expanding capacity in Brazil, it added.

    Morgan Stanley also remains ‘overweight’ and suggests that Bajaj’s aim to maintain margins at current levels is a positive. However, the rise of electric vehicles (EVs) could offset product mix gains. HSBC’s target price is Rs 11,389 which the company has already surpassed.

    Hero MotoCorp, Maruti: Why auto stocks are falling today

    Shares of major auto companies, including Bajaj Auto, Hero MotoCorp, and Eicher Motors, tumbled in early trade on Thursday, following Bajaj Auto’s release of its Q2FY25 financial results. The two-wheeler giant’s weaker-than-expected sales outlook for the crucial festive season has rattled the market, dragging down the broader auto sector.

    The cautious outlook not only affected Bajaj Auto’s stock but also weighed on shares of its competitors. Hero MotoCorp saw its shares fall 3.61 per cent to Rs 5,202.40, while Eicher Motors, the maker of Royal Enfield motorcycles, was down 1.52 per cent at Rs 4,606.75.

    Carmakers weren’t spared either, with shares of Maruti Suzuki India dropping 2.01 per cent to Rs 12,125, and Mahindra & Mahindra (M&M) declining 2.49 per cent to Rs 2,989.15. The ripple effect across the auto sector reflects broader concerns about a potential slowdown in consumer demand during the festive season, typically a time of strong sales for automakers.

    Rising inflation, particularly food prices, has caused many consumers to tighten their budgets, leading to weaker-than-expected demand for big-ticket purchases like motorcycles and cars. The shift in consumer behaviour ahead of the festive season could contribute to the auto sector’s underperformance in the market.

    Despite Bajaj Auto reporting solid profit growth and meeting margin expectations, analysts noted that the stock had been trading at high valuations, with limited room for upside. The company’s cautious festive season outlook has added to the market’s concern, prompting a sell-off in both two-wheeler and four-wheeler stocks.

    Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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  • KEI Industries Falls 7% On Lower Profit, Ebitda Margins In Q2; Know Details – News18

    KEI Industries Falls 7% On Lower Profit, Ebitda Margins In Q2; Know Details – News18

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    KEI Industries stock tanks 7%

    KEI Industries stock tanks 7%

    KEI Industries second quarter numbers showed mixed performance on a year-on-year (Y-o-Y) basis

    KEI Industries shares lost 6.8 per cent in trade on Wednesday and registered an intraday low of Rs 4,365.55 per share after the company reported lower profit margins in its second quarter (Q2FY25) numbers.

    Despite recording growth in the bottomline as well as topline, the company’s EBITDA margin still shrank 70 basis points on year to 9.7 per cent in the September quarter as compared to 10.4 percent in the corresponding period in the previous fiscal. The fall in margins was due to the higher cost of raw materials and a spike in finance costs and employee expense benefits.

    KEI Industries reported its September 30-ended quarter’s results after market hours on Tuesday. The company’s second quarter numbers showed mixed performance on a year-on-year (Y-o-Y) basis. Its net profit rose, but the profit margin dipped. The wires and cables company’s revenue and earnings before interest, tax, depreciation, and amortisation (Ebitda) also increased, but the Ebitda margin saw a decline.

    In Q2FY25, KEI reported profit after tax (PAT) of Rs 155 crore, compared to Rs 140 crore in the year ago period, implyng an increase of 10.71 per cent Y-o-Y. The company’s PAT margin, however, dipped 0.42 per cent as per its filing, to 6.79 per cent, from 7.21 per cent in the year ago period.

    The company revenue for the quarter under review stood at Rs 2,280 crore, compared to Rs 1,945 crore in the year ago period.

    KEI Industries’ board also approved raising Rs 2,000 crore through a qualified institutional placement (QIP) issue.

    “This is to inform you that the Board of Directors of the Company at their meeting held on Tuesday, the 15th day of October 2024, has approved… raising of funds by way of issuance of equity shares or other eligible securities for an aggregate amount of up to 20,000 million, through Qualified Institutions Placement (QIP), subject to the receipt of the approval of the shareholders of the Company through postal ballot and any other regulatory / statutory approvals (if any),” the company’s exchange filing stated.

    KEI Industries manufactures and supplies electrical wires and cables in India.

    In the past one year, shares of KEI Industries have gained 74.4 per cent, compared to BSE Sensex’s rise of 23 per cent during the same period.

    Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

    Aparna Deb

    Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious abo…Read More

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  • ‘Sone Pe Suhaga’, Indian Markets Gave Better Returns Than China In Last 5 Years, Says Sebi Member – News18

    ‘Sone Pe Suhaga’, Indian Markets Gave Better Returns Than China In Last 5 Years, Says Sebi Member – News18

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    Narayan flagged a few areas of caution for investors and asked them to be conscious of the risks.

    Narayan flagged a few areas of caution for investors and asked them to be conscious of the risks.

    Sebi Wholetime Member Ananth Narayan G on Monday reminded investors that Indian equities have consistently delivered 15 per cent returns over the last 5 years

    Sebi Whole-time Member Ananth Narayan G on Monday reminded investors that Indian equities have consistently delivered 15 per cent returns over the last 5 years whereas the same has been zero or even negative in China.

    Terming the Indian markets “sone pe suhaga” for delivering higher returns for lower risks, Narayan also flagged a few areas of caution for investors and asked them to be conscious of the risks.

    “There’s a lot of talk about China markets over the last few days. But over the last five years, while Indian markets have given around 15 per cent compound annual growth rate consistently, Chinese markets are nowhere close to that. It’s almost zero. In fact, in some cases, like in Hong Kong, it’s actually negative,” Narayan said.

    Speaking at an event marking the start of the Investor Awareness Week at NSE, Narayan said FY24 was a “remarkable” year for India, with the benchmark indices returning 28 per cent and the volatility just 10 per cent.

    “That’s like ‘sone pe suhaga’. It’s like the best of all worlds: low risk and very high return,” Narayan said, underlining that there are side effects of this as well.

    Making it clear that it will not be the same going forward and investors should not assume it to be a one-way street, Narayan said such handsome returns can lead to complacency and pointed to a lot of youngsters opening up demat accounts to join the bandwagon.

    Educating people about risks is very important, Narayan said, giving the analogy of driving a car.

    “There has to be a light push on the accelerator to get more investors to provide risk capital for the economic growth, we also need to be aware of risks and use the brakes if need be.”

    He said that 40 per cent of the small and midcap scrips have shot up by 5 times in the last five years, because of an imbalance between inflow of investor money and supply of new paper.

    On its part, the capital markets regulator is trying hard to ensure that fund-raising clearances are done early so that there is a steady stream of quality paper supply in the market.

    From a broader, longer-term perspective, Indian markets will only go north from here given the economic growth prospects in the country, Narayan said, issuing specific advice to investors.

    Investors need to have the right intermediaries to capitalise on this opportunity presented by India, and not fall for the unregistered and fly-by-night ‘finfluencers’ who might be driven by vested interests, he said.

    Using the oft-repeated idiom of “all roads lead to Rome”, Narayan remarked that Rome is not a traveller-friendly place and one may get scammed there as well. Therefore, it is important to seek advice from the right people for the investors, he said.

    He also said that it is in investors’ interests to trade less and stay invested for longer for higher returns, and added that studies prove the same.

    Sebi, which has flagged certain areas like derivatives recently, is not against speculation or participants taking short-term trades, but it would want investors to understand the risks, Narayan said.

    (This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)

    Namit Singh Sengar

    Namit writes on personal finance, economy and brands. Currently contributing to News18.com as a Senior Sub Editor in the business vertical. Prior to t…Read More

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  • Pranik Logistics IPO Closes Today: Check Subscription Status, GMP Today – News18

    Pranik Logistics IPO Closes Today: Check Subscription Status, GMP Today – News18

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    Pranik Logistics IPO: The initial public offering of Pranik Logistics Ltd, which was opened for public subscription on Thursday, is going to be closed today, Monday. The price band of the Rs 22.47-crore IPO has been fixed at Rs 73 to Rs 77 per share for the public issue. On the final day of bidding on Monday, October 14, the IPO received a 5.84 times subscription garnering bids for 1,13,02,400 shares as against the 19,36,000 shares on offer.

    The category for non-institutional investors received 2.85 times subscription, while the portion for retail individual investors (RIIs) got subscribed 10.47 times.

    Pranik Logistics IPO: Key Dates

    The Pranik Logistics IPO was opened for public subscription on October 10 and will be concluded today, October 14. The share allotment of the Pranik Logistics IPO will likely be finalised on October 15, while its shares will be listed on both NSE SME on October 17.

    Pranik Logistics IPO: Price Band

    The price band of the Rs 22.47-crore IPO has been fixed at Rs 73 to Rs 77 per share for the public issue.

    Pranik Logistics IPO: GMP Today

    According to market observers, unlisted shares of Pranik Logistics Ltd continue are trading at the same price as its issue price of Rs 77, thus zero GMP. The zero GMP indicates no listing gains from the IPO.

    The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

    Pranik Logistics IPO: More Details

    The Pranik Logistics IPO is entirely a fresh issue of 29.18 lakh shares.

    Pranik Logistics Limited, which was established in 2015, offers integrated logistics solutions. The company is a PAN India logistics provider operating as a freight forwarder and transporter, providing integrated services such as transportation, warehousing, material handling, and freight forwarding to its clients in various industries such as retail, consumer durables, telecom, manufacturing, pharma, etc.

    Pranik Logistics IPO opens for subscription on October 10, 2024 and closes on October 14, 2024. The allotment for the Pranik Logistics IPO is expected to be finalized on Tuesday, October 15, 2024. Pranik Logistics IPO will list on NSE SME with tentative listing date fixed as Thursday, October 17, 2024.

    Pranik Logistics IPO price band is set at ₹73 to ₹77 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹123,200. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹246,400.

    Narnolia Financial Services Ltd is the book running lead manager of the Pranik Logistics IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Pranik Logistics IPO is Prabhat Financial Services.

    Pranik Logistics Ltd’s revenue rose 11 per cent and profit after tax (PAT) rose by 336 per cent in the financial year 2023-24.

    Mohammad Haris

    Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experi…Read More

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  • China’s Finance Minister Says Room for More Economic Stimulus but Offers No Plan – News18

    China’s Finance Minister Says Room for More Economic Stimulus but Offers No Plan – News18

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    China's economy has remained sluggish despite the lifting of COVID-19 restrictions at the end of 2022.

    China’s economy has remained sluggish despite the lifting of COVID-19 restrictions at the end of 2022.

    China’s Finance Minister Lan Fo’an Lan’s remarks leave the door open for a stimulus plan in the future but he did not divulge what is under consideration.

    The Chinese government is looking at additional ways to boost the economy, Finance Minister Lan Fo’an said Saturday, but he stopped short of unveiling a major new stimulus plan that analysts and stock investors were hoping for.

    Lan’s remarks left the door open for such a plan in the future but he did not divulge what is under consideration.

    “There are other policy tools that are being discussed that are still in the pipeline,” he said at a news conference, adding that there is “ample room” in the government budget to raise debt and increase the deficit.

    China’s economy has remained sluggish despite the lifting of COVID-19 restrictions at the end of 2022. Companies have cut back on hiring and wages and a prolonged downturn in the property market has deflated consumer confidence, curbing spending.

    The government has raised pensions and offered subsidies to people who trade in old cars or appliances for new ones, but such steps have failed to jolt economic growth.

    Chinese stock markets rallied after the central bank and other government agencies announced steps at the end of September to revive the property sector and prop up financial markets.

    But the rally has since cooled amid concern about whether the moves were enough to generate a sustainable economic recovery. Investors were hoping Lan would announce a stimulus package of up to 2 trillion yuan ($280 million).

    The finance minister instead said the government would roll out a package of incremental measures to speed up implementation of its existing policies.

    They include increasing scholarships for students, issuing bonds to help major banks replenish their capital, and providing more support to highly indebted local governments, some of which have had to curtail public services.

    (This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)

    Mohammad Haris

    Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experi…Read More

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  • Rupee Falls Below 84-Mark for the First Time in History: Why is Indian Currency Declining Vis-a-Vis Dollar? – News18

    Rupee Falls Below 84-Mark for the First Time in History: Why is Indian Currency Declining Vis-a-Vis Dollar? – News18

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    The rupee has fallen to a record low of 84.0975 per US dollar.

    The rupee has fallen to a record low of 84.0975 per US dollar.

    The Indian rupee has been falling vis-a-vis the US dollar due to continued outflow of foreign funds from Indian equities and elevated crude oil prices amid global uncertainties.

    Rupee Crosses 84 Mark Vs Dollar: The Indian rupee on October 11 breached the 84 mark against the US dollar for the first time in history, declining 12 paise to a record low of 84.0975 per dollar, due to continued outflow of foreign funds from Indian equities and elevated crude oil prices amid global uncertainties.

    The rupee had closed at 83.98 to a dollar in the previous session, according to the Clearing Corporation of India Ltd (CCIL).

    “After keeping it in a range below 83.99 since August 8, 2024, the rupee finally weakened past 84.00 as FPIs (foreign portfolio investors) have emerged as big sellers in Indian equities, thus raising dollar demand,” Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP, told news18.com.

    Foreign investors bring in dollars to invest in India, and they pull out the US currency in case of outflows. So, inflows raise the supply of dollars in India and hence make it cheaper as compared with the rupee, while outflows raise its demand to make it expensive.

    In the past nine days, FPIs have sold shares worth Rs 1.13 lakh crore, including 65,000 crore in the cash segment, in the Indian stock market.

    “We can now expect the rupee to further fall to 84.25 in the short term. Importers will continue buying at all dips and exporters may now hold their exports with a stop below 83.95. The Iran-Israel-Lebanon issue also continues with no de-escalation, which could keep crude oil strong and the rupee weaker,” Bhansali added.

    The Brent crude has jumped to $78.92 per barrel now from nearly $69 dollar on September 30.

    The recent stimulus in China, which also included 10 basis points policy rate cut and a 50 basis point reduction in cash reserve ratio, is also causing foreign investors to move to Chinese equity markets as they have cheaper valuations, according to a market analyst.

    According to Bloomberg, China may unveil another 2 trillion yuan ($283 billion) fresh fiscal stimulus on Saturday in order to shore up its economy.

    The dollar index, which gauges the greenback’s strength against a basket of six currencies, continues to hover nearly 102.90. The US yields continued to trade higher though they have fallen slightly from their highs.

    European currencies on Friday were slightly higher but moved in a range, while Asian currencies were range-bound after South Korea cut rates by 25 bps for the first time in four years.

    Mohammad Haris

    Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experi…Read More

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  • Stock Market Updates: Sensex Drops 150 Points, Nifty Below 25,000; TCS Sheds 2%, IREDA Gains 2% – News18

    Stock Market Updates: Sensex Drops 150 Points, Nifty Below 25,000; TCS Sheds 2%, IREDA Gains 2% – News18

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    Indian benchmark equity indices BSE Sensex and Nifty 50 opened lower on Friday, tracking overnight weakness on the Wall Street.

    At opening bell, the BSE Sensex was down 39.55 points, or 0.05 per cent, at 81,571, while the Nifty 50 was at 24,959, down 39.05 points, or 0.16 per cent.

    Global Cues

    Meanwhile, markets in the Asia-Pacific region were mixed on Friday, diverging from the lower close on Wall Street overnight, which saw key benchmarks slide as investors digested a persistently increasing US inflation report.

    Japan’s Nikkei 225 climbed 0.7 per cent, while the broad-based Topix edged up 0.40 per cent.

    South Korea’s Kospi advanced 0.49 per cent and the small cap Kosdaq added 0.36 per cent.

    Hong Kong’s Hang Seng index was ahead by 2.98 per cent, while mainland China’s Shanghai Composite was down 1.16 per cent and the CSI 300 was down 2.22 per cent.

    Australia’s S&P/ASX 200 was down 0.15 per cent.

    Aparna Deb

    Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious abo…Read More

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  • Stock Market Updates: Sensex Jumps Over 250 Points, Nifty Above 25,000; Tata Motors Down 2% – News18

    Stock Market Updates: Sensex Jumps Over 250 Points, Nifty Above 25,000; Tata Motors Down 2% – News18

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    Indian benchmark indices BSE Sensex and Nifty 50 opened higher on Thursday, tracking overnight gains on the Wall Street.

    At opening bell, the BSE Sensex was up 250 points, or 0.31 per cent, at 81,717, while the Nifty 50 was at 25,069, up 87 points, or 0.35 per cent.

    Global Cues

    Markets in the Asia-Pacific region were mostly higher, following gains on Wall Street that saw the S&P 500 and Dow Jones Industrial Average hit life highs as investors shook off geopolitical concerns.

    Hong Kong’s Hang Seng Index was up 2..68 per cent, while mainland China’s Shanghai Composite was up 0.81 per cent and

    CSI 300 was up 0.54 per cent.

    Japan’s Nikkei 225 was trading 0.5 per cent higher, and South Korea’s Kospi was ahead by 0.52 per cent. Australia’s S&P/ASX 200 was up 0.66 per cent.

    US stocks added to gains after the minutes, with both the Dow and S&P 500 closing at record levels.

    The Dow Jones Industrial Average rose 431.63 points, or 1.03 per cent, to 42,512.00, the S&P 500 rose 40.91 points, or 0.71 per cent, to 5,792.04 and the Nasdaq Composite rose 108.70 points, or 0.60 per cent, to 18,291.62.

    In Europe, the STOXX 600 index closed up 0.66 per cent, buoyed in part by automakers.

    A rally in China stocks short-circuited, with both the Shanghai Composite index and CSI300 index suffering their biggest one-day percentage drops since February 2020.

    China’s main information office said the finance ministry will detail plans on fiscal stimulus to boost the economy at a news conference on Saturday.

    Aparna Deb

    Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious abo…Read More

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  • Stock Market Updates: Sensex Opens 300 Points Higher, Nifty At 25,050 Ahead Of RBI MPC Outcome – News18

    Stock Market Updates: Sensex Opens 300 Points Higher, Nifty At 25,050 Ahead Of RBI MPC Outcome – News18

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    Indian benchmark equity indices BSE Sensex and Nifty 50 climbed at opening bell on Wednesday, ahead of key policy decision and commentary announcements by the RBI’s governor Shaktikanta Das, at a press conference scheduled for 10 AM today.

    At opening bell, the BSE Sensex was up 167.59 points, or 0.21 per cent, at 81,802.40, while the Nifty 50 was at 43.55 points, or 0.17 per cent, at 25,056.70.

    The Indian central bank governor is expected to annonuce to hold interest rates at current levels, but his commentary on inflation expectations and GDP growth estimates is what investors will be eying.

    Global Cues

    Meanwhile, markets in the Asia Pacific region, were down on Wednesday, with mainland China leading the loses.

    Hong Kong’s Hang Seng index dragged 0.29 per cent after plummeting 9.41 per cent to close at 20,926.79 on the previous day.

    Mainland China’s CSI 300 index was down 4.33 per cent, while the Shanghai Composite was down 3.68 per cent.

    That apart, Japan’s Nikkei 225 was up 0.8 per cent, and the broader Topix was ahead by 0.31 per cent.

    Australia’s S&P/ASX 200 was up 0.15 per cent, while South Korea’s markets remained closed for a public holiday.

    On the previous day, a gauge of global stocks advanced after a rally on Wall Street overshadowed disappointment over the lack of details in China’s stimulus, as investor focus shifts to upcoming US inflation data and corporate earnings.

    On Wall Street, US stocks closed sharply higher as the benchmark S&P 500 bounced back from a drop of nearly 1 per cent a day earlier, with a jump of more than 2 per cent in technology stocks providing key support.

    Aparna Deb

    Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious abo…Read More

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