Equity Alert
Most mkts in Asia close up; Nikkei notches record closing high
This story was originally published at 14:05 IST on 9 October 2025
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Equity Alert: Most mkts in Asia close up; Nikkei notches record closing high
MUMBAI--1340 IST--Most indices in Asia closed higher Thursday, led by Japan's Nikkei 225, which closed at a record high. Japan's broader Topix closed higher for the fifth consecutive session. Markets in Hong Kong closed lower as weak holiday spending in mainland China furthered concerns about a fall in consumption, according to media reports. Markets in South Korea were closed for a holiday.
Japan's Nikkei 225 closed 1.8% higher and reached a record closing high. Shares of SoftBank closed over 11% higher Thursday, a day after the company announced a deal to buy the robotics division of Swiss engineering firm ABB for $5.4 billion. Shares of Fast Retailing Co. rose 3.4%. The owner of the clothing brand Uniqlo booked its fourth consecutive year of record profit Thursday despite headwinds from US tariffs, a Reuters report said. The company's profit rose 13% on year, higher than market estimates.
Japan's stock rally, which is being referred to as the "Takaichi trade" after Sanae Takaichi's election as LDP leader, is likely to extend as long as the Japanese currency stays weak, Naka Matsuzawa, Nomura strategist, was cited by Dow Jones Newswires as saying. The analyst attributed gains in Japan's markets to futures-led buying, which pushed the forward price to earnings ratio to 17 times, which is the highest since ex-Japan PM Shinzo Abe's tenure.
Hong Kong's Hang Seng Index closed lower amid a session of choppy trade. Shares of Hang Seng Bank jumped nearly 26?ter HSBC's proposal to take it private, valuing the bank at around $37 billion. London-based HSBC bank will buy all outstanding Hang Seng Bank shares at a 30% premium, according to the South China Morning Post. Hong Kong-listed shares of HSBC fell more than 6%. Retail and catering sales at major enterprises in China rose 3.3% on year during the first four days of the golden week holiday, according to the South China Morning Post. That growth rate was slower than the 6.3% increase during the Labour Day break in May and below September's 3.4% growth in overall retail sales.
Chinese mining companies closed higher amid a surge in gold prices. Shandong Gold Mining, Chifeng Jilong Gold Mining, and Zhongjin Gold Corp. all closed 10% higher. China's CSI 300 index advanced 1.5%.
Shares of Taiwan Semiconductor Manufacturing ended 2% higher after the world's largest contract chipmaker Thursday reported that its third-quarter revenue rose 30% on year, higher than market estimates, due to a surge in demand for the company's artificial intelligence products. Shares of another chip major, United Microelectronics Corp., rose 1.6%. Taiwan's Taiex index advanced nearly 1% to close at a record high.
Following were the levels of key Asian indices at 1326 IST:
|
Index |
Level |
Change in % |
|
CSI 300 Index |
4709.48 |
1.48 |
|
Hang Seng Index |
26735.30 |
(-)0.35 |
|
Nikkei 225 Day |
48580.44 |
1.77 |
|
TOPIX FIRST SECTION |
3257.77 |
0.68 |
|
FTSE Singapore Strait Times |
4440.54 |
(-)0.35 |
|
S&P/ASX 200 Index |
8969.80 |
0.25 |
(Eshitva Prakash)
Equity Alert: After being choppy early on, TCS tad up ahead of Q2 results
MUMBAI--1339 IST--After being choppy early in the session, shares of Tata Consultancy Services Thursday rose over 1% to an intraday high of INR 3,060.50 ahead of the company's September quarter earnings later in the day. The stock is up for the second day and has risen nearly 3% over this period. At 1339 IST, the shares were up 0.5% at INR 3,041.80. The stock is expected to face resistance at INR 3,080-INR 3,150 and support at INR 2,940-INR 2,860, technical analysts said.
The information technology major is likely to report muted earnings for the September quarter due to US tariffs and the continued impact of its deal with Bharat Sanchar Nigam Ltd., broking firms said. Some of the brokerages said they have not taken into account the possible impact of the laying off about 12,000 employees that the company had announced in the middle of the quarter.
Wage hikes for junior employees that came into effect in September are likely to offset the positive impact of the Indian rupee's depreciation against the dollar on margins, HSBC said in its earnings preview report. The consolidated net profit of the IT giant is expected to fall almost 2% sequentially to INR 125.62 billion and its revenue is seen rising almost 3% on quarter to INR 651.15 billion, according to the average of estimates of 11 broking firms.
TCS will not hold a post-earnings press conference this time as the results are being disclosed on the first death anniversary of Ratan Tata, the former chairman of the Tata group. The earnings are likely to be announced at 1900 IST.
Of the 23 brokerage reports available on the stock with Informist, 16 have a 'buy' or equivalent rating on the stock and six have a 'hold' or equivalent rating. Only Dolat Capital Market has a 'reduce' rating. The 16 'buy' or equivalent recommendations have an average target price of INR 3,894 on the stock. So far Thursday, 1.88 million shares of the company have changed hands on NSE, lower than 3.11 million shares traded during the same period on Wednesday. (Simran Rede)
Equity Alert: Indices rise more driven by gains in metal, IT stocks
MUMBAI--1300 IST--Benchmark equity indices rose more after opening marginally higher on Thursday, largely led by gains in shares of information technology and metal companies. Analysts said that the trend in the market would remain slightly bullish as long as the Nifty 50 index holds 24900 points.
At 1300 IST, the Nifty 50 index was at 25138.20 points, up 92.05 points or 0.4%. The rise in the 50-stock was also due to gains in heavyweight stocks such as Reliance Industries and ICICI Bank. Technical analysts had said the Nifty 50 would face strong resistance between 25150-25200 points. The BSE Sensex was at 82003.37 points, up 229.71 points or 0.3%.
Large-cap metal companies such as Tata Steel, JSW Steel, and Hindalco Industries were 1-2% higher. Brokerages expect steel companies to post a sharp rise in their net profits due to higher volumes and lower prices of coking coal, a key raw material for the steel industry. Earlier in the day, Tata Steel said its domestic crude steel production and India crude steel deliveries in the quarter ended September rose 7% on year each.
Information technology stocks were up for the second straight session ahead of the earnings of Tata Consultancy Services. The company is slated to release its results for the quarter ended September later in the day and analysts expect a muted performance from the IT major. HCL Technologies, Tech Mahindra, TCS, Infosys, and Wipro were 1.0-2.5% higher.
Among Nifty 200 constituents, Motilal Oswal Financial Services, Sona BLW Precision Forgings, and Aurobindo Pharma were the top gainers, up 3-5%. PG Electroplast topped the Nifty 500 index with the stock gaining 6%, while Netweb Technologies was the worst hit, down over 6%. (Adhithya Aji)
Equity Alert: Pharma stocks gain; US may not impose tariffs on generics
MUMBAI--1248 IST--Most pharmaceutical stocks rose Thursday, likely due to reports that the US administration doesn't plan to impose tariffs on generic drugs. This comes in continuation of the US government's decision last week to temporarily hold 100% tariff on branded and innovative pharmaceutical products. The Wall Street Journal reported Wednesday that US President Donald Trump's administration was exploring other alternative measures such as federal grants or loans to encourage domestic production of critical generic drugs, aiming to reduce reliance on foreign suppliers, including India.
The Nifty Pharma index rose nearly 1%, with Aurobindo Pharma leading the gainers, rising over 3%. Shares of Lupin and Piramal Pharma rose over 2%. Dr. Reddy's Laboratories and Sun Pharmaceutical Industries rose over 1?ch.
"The administration is not actively discussing imposing Section 232 tariffs against generic pharmaceuticals," The Wall Street Journal quoted Kush Desai, deputy press secretary of the White House, as saying. Desai said the administration was pursuing "a nuanced and multi-faceted approach to onshore manufacturing of generic pharmaceuticals" to avoid future dependence like that seen during the Covid era, according to the report.
Market participants had said earlier that the US government wanted to impose tariffs on pharma products to force companies to build their manufacturing units to the US. Analysts believe tariffs on branded or generic products would burn a hole in the pockets of US consumers as companies would pass on the extra cost to consumers. Media reports suggested that the members within the Trump administration, including members of the Domestic Policy Council and healthcare adviser Theo Merkel, reportedly warned that tariffs on generics could raise prices and lead to shortages. (P. Madhu Kumar)
Equity Alert:Prestige Estates up on robust Q2 pre-sales; shrs come off highs
MUMBAI--1230 IST--Prestige Estates Projects rose as much as 7% Thursday following the company's disclosure of robust pre-sales and collections in the September quarter, led by sales in Bengaluru and Mumbai. The company's pre-sales for the quarter rose 50% on year to INR 60.17 billion and its collections grew 54% on year to INR 42.13 billion on the back of robust demand across markets and segments, the company said. However, later the stock came slightly off highs and at 1208 IST, shares of the company traded at INR 1,562.30, up 3.2%.
The company has already achieved 69% of its pre-sales guidance of INR 250 billion-INR 270 billion for 2025-26 (Apr-Mar), Nomura said in a report. The company's pre-sales print was higher than the INR 47 billion sales estimated by the brokerage firm. It expects the company to beat its guidance and reach pre-sales of INR 290 billion on the back of a robust launch pipeline of more than INR 200 billion and strong sustenance sales from inventory, Nomura said. The brokerage has maintained its 'buy' rating on the stock with a target price of INR 1,900.
Following the pre-sales data, Nuvama Institutional Equities has trimmed its target price on the stock by over 2% to INR 1,966, while maintaining its 'buy' rating. This target price implies a near-30% upside to the stock's Wednesday close. Global brokerage Citi believes business development outside Bengaluru is positive for the company, according to ET Now's X post.
The stock is up after falling in two previous sessions and was among the top gainers in the initial hour of trade. So far Thursday, 2.60 million shares of the company have changed hands on the NSE, higher than 117,009 shares traded during the same period on Wednesday. All 10 brokerage reports on the stock available with Informist have a 'buy' or equivalent rating on the stock with an average target price of INR 2,003, implying over 32% upside to the stock's previous close. (Simran Rede)
Equity Alert: Metal stocks rise, brokerages bullish on steel cos Q2 results
MUMBAI--1145 IST--Most metal companies stocks rose sharply during Thursday's trading sesson led by gains in steel companies. The metal sector is expected to report a strong performance for the September quarter, driven by domestic demand and lower steel prices, according to some brokerages. The Nifty Metal index rose over 2% with Hindustan Copper leading the gains, up over 5%. Hindustan Zinc and Lloyds Metals and Energy were up over 4%. Tata Steel was the top gainer in the Nifty 50 index rising nearly 3%.
Prabhudas Lilladher expects revenue; earnings before interest, taxes, depreciation, and amortisation; and profit after tax growth of 14%, 22%, and 26% on year, respectively, for its metal coverage universe. Steel prices came off sharply in the seasonally weak quarter due due to which average net smelter return for steel companies is expected to decline by 3-5% on quarter. Despite this, the brokerage expects domestic steel prices to witness a gradual recovery as demand is likely to go up, driven by the government's focus on infrastructure and the extension of safeguard duty.
Anand Rathi Wealth expects the sector's average selling price to be impacted by lower steel prices with average consolidated realisations expected at INR 62,928 per tonne. However, Tata Steel is expected to deliver slightly better consolidated EBITDA per tonne, driven by its Netherlands operations. Non-ferrous metals companies are expected to benefit from higher prices in the near term, with Hindalco's Novelis expected to report stable volumes and EBITDA of $399 million.
Kotak Institutional Equities expects margins to decline for steel companies, mainly led by seasonally weak steel prices. However, base metal producers should see a strong quarter, led by higher base metal prices across most commodities on a weaker dollar and interest rate cuts. "We see a downside risk to aluminum prices from current levels, given the lack of cost support and weaker demand in second half of FY26. We remain cautious on aluminium producers Hindalco Industries and Vedanta," the brokerage said.
(P. Madhu Kumar)
Equity Alert: Indices open tad higher; metal, pharma stocks top gainers
MUMBAI--0945 IST--Equity indices opened slightly higher with pharmaceutical and metal stocks being the top gainers in the Nifty 50 index. Tata Steel was the biggest gainer in the 50-stock index, rising over 2%, followed by Dr. Reddy's Laboratories, HCL Technologies, and Sun Pharmaceutical Industries, up 1-2%. The gains in the indices are despite analysts' bearish stance on the market owing to profit-booking across sectors on Wednesday.
At 0949 IST, the Nifty 50 index and the BSE Sensex were marginally higher at 25061.35 points and 81805.52 points, respectively. Power Grid Corp. was down nearly 1%, falling for the second straight session and was among the biggest losers in the 50-stock index. Bajaj Finance, Max Healthcare Institute, HDFC Life Insurance Company fell 0.6?ch.
Among Nifty 200 stocks, Prestige Estates Projects rose over 4%, making it the biggest gainer in the index. The stock rose after the company's sales for the September quarter rose 50% on year to INR 60.17 billion, driven by robust demand across markets and segments. Shares of Lupin gained over 3?ter the company announced plans for a new pharmaceutical manufacturing plant in Coral Springs, Florida, US, with a cumulative investment of $250 million in the next five years. None of the stocks in the Nifty 200 and 500 indices fell more than 3%.
Among sectoral indices, Nifty Metal and Nifty Pharma were the biggest gainers, up over 1%. Nifty Healthcare and Nifty Oil & Gas rose 0.9% and 0.5%, respectively. Nifty Consumer Durables and Nifty Auto were the worst performers among sectoral indices, falling 0.2?ch. All broader market indices were in the positive territory. (P. Madhu Kumar)
Equity Alert: Indices seen marginally higher Thu; TCS Q2 results in focus
MUMBAI--0826 IST—India's headline equity indices are likely to open marginally higher Thursday due to positive cues from global markets as well as the absence of any negative developments, especially on the US tariffs front. Investors will focus on the September quarter earnings, which will help gauge the financial health of domestic companies and their business outlook amid concerns about the impact of US tariffs, analysts said.
On Wednesday, the Nifty 50 closed 0.3% lower at 25046.15 points and the BSE Sensex ended down 0.2% at 81773.66 points. The Gift Nifty suggests a flat to positive open for the market Thursday. At 0756 IST, the GIFT Nifty's October contract was at 25151 points, up 105 points compared to the Nifty 50's Wednesday close. The Nifty 50 is expected to face resisitance at 24200-24250 and find support at 25000–24900 points.
Market participants will gauge minutes of the Federal Open Market Committee's September meeting for signals on the US Federal Reserve's policy stance. The minutes showed central bankers divided over US monetary policy going forward. The US government continued its shutdown for the eighth straight day, leaving markets without official economic indicators.
On the global front, indices in the US closed higher, with the S&P 500 and the Nasdaq Composite indices notching record highs Wednesday. Information technology stocks were the biggest gainers during the session. Most Asian indices were higher in early trade, taking positive cues from US indices.
Back home, investors will assess the September quarter earnings of Nifty 50 constituent Tata Consultancy Services Ltd., likely after market hours. Market participants will also track the company's guidance for the next quarter. Tata Elxsi is also slated to detail its Jul-Sept earnings Thursday. (Simran Rede)
Equity Alert: Most Indices in Asia up; Softbank group gains on deal with ABB
MUMBAI--0816 IST--Most indices in Asia rose in early trade Thursday, tracking overnight gains in the US. Stocks of artificial intelligence companies gained in the early trade. Japan's Softbank group was among the top gainers in early trade after the company announced the purchase of Swiss engineering firm ABB's robotics division. Markets in China reopened after a week-long break and the blue-chip CSI 300 index was higher. South Korean markets are closed for the Hangeul Proclamation Day holiday.
Japan's Nikkei 225 index rose over 1.2%. Shares of Softbank Group jumped nearly 12?ter the company said it will buy engineering firm ABB's robotics division for $5.4 billion, thereby extending its artificial intelligence footprint.
Hong Kong's Hang Seng Index was down 0.7% and was down for the fourth consecutive session. Hang Seng Bank shares jumped more than 26?ter HSBC proposed Thursday to take the company private, valuing the bank at around $37 billion, a report by CNBC said. Among technology companies, shares of Jd.com, Baidu and Tencent all traded in the green.
China's CSI 300 advanced over 1?ter markets in China reopened from the National Golden Week holiday. The country has announced new restrictions on the export of rare earth minerals and equipment that have been a contentious point in trade talks with the US, a report by Reuters said.
Following were the levels of major European indices at 0805 IST:
|
Index |
Level |
Change in % |
|
CSI 300 Index |
4691.26 |
1.09 |
|
Hang Seng Index |
26803.81 |
(-)0.10 |
|
Nikkei 225 Day |
48343.39 |
1.27 |
|
TOPIX FIRST SECTION |
3244.48 |
0.27 |
|
FTSE Singapore Strait Times |
4441.31 |
(-)0.34 |
|
S&P/ASX 200 Index |
8965.50 |
0.20 |
(Eshitva Prakash)
Equity Alert: S&P 500, Nasdaq close at record highs as technology cos gain
MUMBAI--0730 IST--The S&P 500 and the Nasdaq Composite closed at record highs Wednesday, with information technology stocks among the biggest gainers in the session. Traders looked past minutes of the US Federal Reserve's September meeting, which showed central bankers divided over US monetary policy going forward. The US government shutdown entered its eighth day, leaving markets without official economic indicators. The Dow Jones Industrial Average ended flat.
The technology-heavy Nasdaq Composite closed over 1% higher. Shares of Advanced Micro Devices jumped over 11%, extending gains for the third day, and shares of Broadcom, Intel and Apple rose almost 1–3%. Shares of chipmaker Nvidia were up 2?ter its CEO Jenseng Huang said in an interview on CNBC that demand for artificial intelligence chips has gone up this year. Huang also confirmed Nvidia's involvement in funding Elon Musk's xAI. "The demand (for chips) is still there – and Nvidia is obviously in the best position in the world to comment on that – I do think is reassuring that the level of spending capital expenditure isn't completely circular," Ross Mayfield, Baird investment strategist, was quoted by CNBC as saying.
Shares of Newmont and Gold Fields were up nearly 2% and 4%, respectively, due to a surge in gold prices. Shares of Freeport-McMoRan advanced over 5?ter Citigroup upgraded its view on the stock to 'buy' from 'neutral', according to a Reuters report. Fair Isaac Corp, which assesses consumer creditworthiness, fell nearly 10?ter credit bureau Equifax said it plans to offer cheaper mortgage credit scores.
Minutes of the Fed's September policy meeting showed policymakers were concerned about rising labour market risks but still cautious about inflation. The timing and the quantum of further interest rate cuts remained uncertain. Traders see a 93% probability of a 25-basis-point interest rate cut by the Fed at its October policy meeting, according to data from CME Fedwatch tool. Traders are focussing on the third-quarter earnings season, which will get underway next week, to provide cues on the financial health of US companies.
Following are the closing levels of US indices Wednesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6753.72 |
0.58 |
|
NASDAQ Composite |
23043.38 |
1.12 |
|
Dow Jones Industrial Average |
46601.78 |
0 |
(Eshitva Prakash)
End
US$1 = INR 88.79
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Deepshikha Bhardwaj
All prices from National Stock Exchange, unless otherwise specified.
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