Asia’s markets were divided after more advances in US equities, but Treasuries fell as investors assessed new signals of strength in the world’s largest economy.
Japan and Australia’s share indexes fell marginally, while Hong Kong futures rose.
The S&P 500 climbed 0.2%, aided by positive corporate profits and expectations that Federal Reserve tightening has hit its peak.
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Meanwhile, the 10-year US bond yield was 4.52%, while Bitcoin was trading over the 35,000 level. Brent crude was trading below $82 per barrel, while WTI crude was trading over $76.
At 5:41 a.m., the GIFT Nifty, an early predictor of the performance of India’s Nifty 50 Index, was up 34 points, or 0.17%, at 19,751.
India’s major stock indexes recovered sharply in late trade to settle at a four-week high on Wednesday, spurred by advances in real estate and information technology sectors.
The S&P BSE Sensex finished 742 points, or 1.14%, higher at 65,675.93, while the NSE Nifty 50 rose 232 points, or 1.19%, to 19,675.45.
After 14 straight sessions of selling, foreign investors became net purchasers of Indian shares on Wednesday. Foreign portfolio investors purchased stocks for Rs 550.2 crore, while domestic institutional investors were net purchasers, purchasing shares worth Rs 609.8 crore, according to NSE data.
On Wednesday, the Indian rupee gained 18 paise to settle at 83.15 versus the US dollar.
Stocks To Watch:
Bajaj Finance: The Reserve Bank of India has restricted Bajaj Finance from lending through its “eCOM” and “Insta EMI Card” products. The regulator stated that it would reconsider the supervisory limits after the company had corrected the shortcomings to the satisfaction of the RBI.
TCS: TCS has scheduled November 25 as the record date for its Rs 17,000 crore repurchase. The business would repurchase up to 4.09 crore shares at Rs 4,150 per share.
Dabur: The company’s two international companies, Dabur International and Dermoviva Skin Essentials, have been dropped as defendants in various cases filed in a US court alleging that its hair relaxer products caused ovarian cancer, uterine cancer, and other health problems.
Satin Creditcare Network: The company’s board of directors will meet on November 20 to examine a fund-raising proposal through the issue of listed/unlisted, secured/unsecured, and non-convertible debentures on a private placement basis.
IIFL Finance: Through a rights issue, the NBFC would invest up to Rs 200 crore in its subsidiary IIFL Samasta Finance by subscribing to 7,47,94,315 fully paid-up equity shares with a face value of Rs 10 each at a premium of Rs. 16.74 per share.
Suzlon Energy: Suzlon Group revealed the RLMM listing of its S144-3 MW series of wind turbines, which can be extended to 3.15 MW, making them a market-leading force. This listing is a significant step toward the product’s successful commercialization.
One 97 Communications: The firm signed a three-year relationship with global travel technology giant Amadeus. It would use Amadeus’ extensive travel platform, improving traveler experiences from search to booking and payment.
Vedanta: Unit Malco Energy established a new wholly-owned subsidiary in Saudi Arabia called ‘Vedanta Copper International VCI’ for its copper operations.
Brightcom Group: On November 15, the business authorized the hiring of Brand & Associates as new statutory auditors. Due to the resignation of the previous auditor and the subsequent appointment of a new auditor, it requested a 40-day extension from exchanges for submitting half-yearly results.
RateGain Travel Technologies: On November 15, the business opened its qualifying institution placement issue. The floor price per share has been set at Rs 676.66.
Bulk Deals
Goldman Sachs India Equity Portfolio purchased 23.20 lakh shares (1.17%) at Rs 310.05.
Insider Trades
ASK Automotive: Arti Mody, the promoter of Sasken Technologies, purchased 8,952 shares on November 12.
Som Distilleries & Breweries: On November 13, promoter Jagdish Kumar Arora purchased 11,000 shares.
Usha Martin: From November 12 to November 13, promoter Nidhi Rajgarhia sold 3000 shares.
Who’s Meeting Whom
Balrampur Chini Mills: On November 22, Balrampur Chini Mills will meet with analysts and investors.
Cochin Shipyard: On November 20, Cochin Shipyard will meet with analysts and investors.
Redington: On November 20 and 21, Redington will meet with analysts and institutional investors.
Antony Waste Handling Cell: On November 20, Antony Waste Handling Cell will meet with analysts and institutional investors.
Nazara Technologies: On November 21, Nazara Technologies will meet with analysts and institutional investors.
Thyrocare: Thyrocare will meet with analysts and investors on November 21.
Indiamart: On November 22, Indiamart will meet with analysts and institutional investors.
