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Informist, Friday, Oct. 24, 2025                                      Tel +91 (22) 6985-4000

Equity Alert: Indices close lower, break six-day winning run; metals shine

MUMBAI--1540 IST--Benchmark equity indices ended lower on Friday, snapping a six-day winning run as investors booked profits. Mid- and small-cap indices also came under selling pressure. Shares of metal manufacturers gained sharly in a weak market on the back of a surge in aluminium prices on the London Metal Exchange. 

The Nifty 50 closed at 25795.15 points, down 96.25 points or 0.4%. The 50-stock index had gained nearly 4% in the last six sessions, a rally that rose on hope of a trade deal between the US and India, better second quarter earnings along with foreign inflows, and an appreciating rupee. On Friday, the 50-stock index fell to the day's low of 25718.20 points. Analysts had said that the index would find support at 25725-25730 points. Meanwhile, the BSE Sensex closed at 84211.88 points, down 344.52 points or 0.4%.

While technical analysts said they see the Nifty 50 hitting an all-time high in the near term, some fundamental analysts had flagged that higher valuations could impact this movement. The latter had also said that investors would wait till there was assurance that earnings growth has rebounded. On Thursday, the Nifty 50 had hit an intraday high of 26104.2 points, which was very close to the record high of 26277.35 points. 

Among sector indices, those pertaining to healthcare and private sector banks fell the most with around 1% losses. Max Healthcare Institute, Apollo Hospitals Enterprise, and Fortis Healthcare ended 1-2% lower. Kotak Mahindra Bank, HDFC Bank, and Axis Bank closed 1-2% lower. Broader market indices also came under pressure, but some fared better than the benchmark indices. Meanwhile, the Nifty Metal closed over 1% higher. A surge in aluminium prices globally overnight led investors to buy shares of companies such as Hindalco Industries, Hindalco Industries, and Vedanta. These stocks closed 2.6-4.0% higher.  

Among individual stocks, Cipla closed 4% lower as investors likely took profits after the company announced an agreement with Eli Lilly to distribute its weight loss drug tirzepatide in India under the brand name Yurpeak. Hindustan Unilever closed over 3% lower after some brokerages flagged that the company's earnings and growth outlook still looked tepid for the near term. (Gopika Balasubramanium)

Equity Alert: Most European indices choppy Fri; econ data, earnings on focus

MUMBAI--1538 IST--Most European indices swung between gains and losses Friday after briefly hitting intraday record highs, as signs of easing trade tensions between the US and China and a slew of positive corporate earnings helped lift market sentiment. Moreover, market participants assessed business activity in the region's manufacturing and services sectors.

Gas prices in Europe traded flat after earlier gains on fresh supply concerns. In the initial trade, the benchmark Dutch TTF contract traded flat at 32.3 euros. The European Union confirmed it will ban imports of Russian liquefied natural gas from 2027.

Eurozone bond yields jumped after Germany's flash purchasing managers' index estimate beat Street forecasts. The October composite PMI was 53.8, significantly above 51.9 polled by the Wall Street Journal and well above September's 52.0. 

The European Central Bank's meeting on Thursday is unlikely to boost momentum in the euro, Dow Jones Newswires said, citing TD Securities' strategist. With inflation near target and healthy economic growth, the ECB is expected to keep rates unchanged, he said. "This is well priced by markets and ECB President Christine Lagarde probably won't signal any future cuts. We expect near-term weakness in the euro to persist for the next few weeks as the US (government) remains in shutdown with a focus on geopolitical uncertainty," the strategist said.

Sentiment among UK consumers rose slightly this month, boosted by increased buying intentions ahead of the holiday season. Consumer confidence improved to minus 17 in October, according to research group GfK's monthly index. That flipped expectations for the index to worsen to minus 20 according to economists polled by the Wall Street Journal.

UK retail sales for September were stronger than expected, despite the uncertainty surrounding the November budget, Dow Jones Newswires said, citing AJ Bell's Danni Hewson. Monthly retail sales rose 0.5% in September against the consensus forecast of a 0.4% contraction. UK consumers had a bit more cash to spend as the Bank of England had cut interest rates and the above-inflation pay increase, the report said. "Concerns about the labour market and upcoming Budget have also been offset to a degree by cooler than expected inflation," it said. 

The UK's flash estimate composite purchasing managers' index for October was 51.1, higher than the forecast of 50.5 and the September composite PMI of 50.1. The flash estimate manufacturing PMI  for October was 49.6, higher than the forecast of 46.5 and the September composite PMI of 46.2. The flash estimate services PMI for October was 51.1, higher than the forecast of 51.0 and the September composite PMI of 50.8. 

Consumer confidence in France in October was 90, up from 88 in September. The print was seen at 87. The German flash estimate composite PMI for October was 53.8, higher than the forecast of 51.9 and the September composite PMI of 52.0. The flash estimate of the manufacturing PMI for October was 49.6, higher than the forecast and the September composite PMI of 49.5. The flash estimate services PMI for October was 54.5, higher than the forecast of 51.2 and the September composite PMI of 51.5. 

Following were the levels of major European indices at 1537 IST:

(Simran Rede)

Equity Alert: Indices fall more as bank stocks weak; metal, defence stocks up

MUMBAI--1357 IST--Indices fell further weighed down by weakness in index heavyweights HDFC Bank, Axis Bank, and Kotak Mahindra Bank. At 1355 IST, the Nifty 50 was at 25739.40, down 152.00 points or 0.6%. The BSE Sensex was at 84039.22, down 517.18 points or 0.6%.

Hindalco Industries continued to be the top Nifty 50 gainer. The stock was up 4%. The rise in the stock can be attributed to a surge in aluminium prices globally. Prices of aluminium rose over 3% Thursday to over $2,850 per tonne on the London Metal Exchange due to tight supply of the metal, hopes of monetary easing around the world, and closure of a smelter in Iceland. The Nifty Metal index was up 0.8% and was the top gainer among the sector indices.

Oil and Natural Gas Corp. of India was higher by over 1% after US sanctioned top Russian oil producers. Late Wednesday, the US imposed fresh sanctions on Russia's two largest oil companies Rosneft and Lukoil in a bid to coax Moscow to sign a peace deal with Kyiv. This led to a rise in crude oil prices. At 1355 IST, the December contract of Brent crude oil futures traded on the Intercontinental Exchange was at $66.11 per barrel. The contract was up for the fourth consecutive session.

Hindustan Unilever, Cipla, and Kotak Mahindra Bank were down 2-3% and were the worst hit among the Nifty 50 stocks. HUL fell as some brokerages pointed out that the company's September quarter earnings and growth outlook still looks tepid in the near term. Cipla fell due to profit booking after the stock rose over 7% in the last few days. The company Thursday announced an agreement with Eli Lilly and Co. (India) Pvt. Ltd. to distribute its blockbuster weight loss drug tirzepatide in India under the brand name Yurpeak. In March, Eli Lilly had launched the same drug under the brand name Mounjaro. Kotak Mahindra Bank was down as the growth in its September quarter net profit is seen flat year on year. The bank is scheduled to declare its earnings Saturday.

Shares of Bharat Electronics were up nearly 1% as the company is expected to be the key beneficiary of INR 790 billion worth of proposals approved by the Defence Acquisition Council Thursday. The company is the main integrator for the Ground-Based Mobile ELINT (Electronic Intelligence system) and Infra-Red Search and Track system, ICICI Direct Research said in a note. Following the government's decision, most of the defence stocks, such as Bharat Dynamics, Cochin Shipyard, and Garden Reach Shipbuilders & Engineers, were up 0.3-1.0%.    

Shipping Corp. of India rose 7% and was the top gainer in the Nifty 500 following news that the government is likely to pause the privatisation of the company. The government is reviewing the plan in light of changing global trade and geopolitical conditions, NDTV Profit reported.  (Adhithya Aji)

Equity Alert: Cipla down on profit booking as Eli Lilly deal was anticipated

MUMBAI--1345 IST--Shares of Cipla fell nearly 4% to an intraday low of INR 1,584 due to likely profit booking after the company announced an agreement with Eli Lilly to distribute its weight loss drug tirzepatide in India under the brand name Yurpeak. The market had anticipated a major deal between both the companies, a week before the official announcement by the companies was made Thursday, resulting in the stock to rise for five sessions before it fell during the final hours of Thursday's session, according to analysts. At 1345 IST, the stock traded over 3% lower at INR 1,587 and it is also among the worst performers in the Nifty 50 index.  

Brokerages are bullish on Cipla's growth in the long term as this deal will give the company early access to an effective and fast-growing Glucagon-like peptide-1 drug. Analysts also said that this will give Cipla a head start in the injectable GLP-1 race, wherein there would be an opportunity for generic GLP-1s. "Its a win-win for both companies...the innovator Eli Lilly will now be able to expand in the Tier-II and Tier-III cities while Cipla will get early access and a chance to commercialise the drug," said Mehul Sheth, a research analyst at HDFC Securities. 

"We build in INR 3.6 billion-INR 3.7 billion revenue from Yurpeak in 2025-26 (Apr-Mar) to FY27 and INR 4.1 billion from semaglutide generic in FY27. This lifts our revenue and profit after tax by 1% each for FY26 and by 3-4% each for FY27," according to Nuvama Institutional Equities. The brokerage retained its 'hold' rating on the stock with a target price of INR 1,725. 

Talking about the potential of the drug Tiraptide, Elara Securities said, "Tirzepatide is likely to stay patent protected for another 8-10 years. We expect the market to be USD 1bn-plus (over $1 billion) in the next four years, with generic Semaglutide companies holding 75% volume share," The brokerage has retained its 'accumulate' rating on the stock with a target price of INR 1,670.  (P. Madhu Kumar)

Equity Alert: Most indices in Asia end up; China's semiconductor cos surge

MUMBAI--1340 IST--Most indices in Asia closed higher Friday after the US White House confirmed that President Donald Trump will meet his Chinese counterpart Xi Jinping amid trade conflict between the two largest economies. South Korea's Kospi posted a record closing high, recovering from a fall on Thursday that had interrupted its six-day winning streak before that.

"The confirmation of a Xi–Trump meeting gave markets a clear reason for a relief rally today...not from hopes of warmer US–China relations ahead, but from the perception that any progress is better than stalemate, and that a new deal before the truce deadline now appears more attainable," Hebe Chen, an analyst at Vantage Markets, was quoted by Bloomberg as saying. The two leaders are set to meet Thursday in the Asia-Pacific Economic Cooperation.

Semiconductor stocks led the gains in China's equity markets after a communique, following the four-day plenum of the Communist Party's Central Committee, emphasised building self-reliance in science and technology. The CSI 300 index closed over 1% higher and shares of Hygon Information Technology Co., GigaDevice Semiconductor, and Hua Hong Semiconductor rose 5-15%.

Hong Kong's Hang Seng index rose nearly 1%. Shares of e-commerce company Alibaba Group Holding rose over 2% after the company started pre-orders for its smart glasses, South China Morning Post reported. Hong-Kong listed shares of Semiconductor Manufacturing International surged over 7% and short-video platform Kuaishou Technology advanced over 2%.

South Korea's Kospi ended 2.5% higher, reaching its highest closing level yet. The index ended with over 5% weekly gains. The country's finance ministry Friday said it was ready to stabilise the foreign exchange market amid persistent volatility in the won-dollar trade, CNBC reported. The Nikkei 225 rose 1.3% in the session and ended with 3.6% weekly gains. The broader Topix advanced over 3% this week.

Following were the levels of key Asian indices at 1324 IST:

(Eshitva Prakash)

Equity Alert: SBI Life Insurance shrs nearly flat ahead of Jul-Sept earnings

MUMBAI--1238 IST--Shares of SBI Life Insurance Co. Ltd. were trading nearly flat at INR 1,856 on the National Stock Exchange ahead of the company's financial results for the quarter ended September. The insurer's net profit is expected to rise 2.7% on year to INR 5.44 billion in the reporting quarter, according to Motilal Oswal Financial Services Ltd., the sole brokerage tracking the company's earnings. The bottom line is seen shrinking 8.5% from the trailing quarter.

The company's annualised premium income growth on new business is seen rising 9% on year to INR 58.48 billion. Gross premium income is likely to rise 16% on year to INR 235.06 billion, jumping 37% on quarter.

Growth in the new business premium and value of new business margin are expected to remain in single digits, the brokerage firm said. As bancassurance continues to dominate the insurer's sales mix, the outlook on growth in the banca-channel, particularly SBI, will be a critical metric critical to monitor, according to Motilal Oswal Financial Services. 

The life insurer had reported a net profit of INR 5.94 billion for the June quarter, up 14.4% on year. The company's shares have risen slightly since the June quarter results. Of the 18 brokerage reports on the company available with Informist, 15 brokerages have a 'buy' rating on the stock with an average target price of INR 1,901. Three brokerages have a 'hold' rating on the life insurer with a target price of INR 1,833. (Krity Ambey)

Equity Alert: Aluminium stocks surge as prices on LME surpass $2,850/tn mark

MUMBAI--1146 IST--Aluminium stocks surged Friday after aluminium prices rose globally overnight. Hindalco Industries was up over 3%, and is the top gainer on the Nifty 50 so far in the session. National Aluminium Co. and Vedanta were also up 4% and 2%, respectively. The rise in these stocks pushed the Nifty Metal index over 1% higher, making it the top performer among sectoral indices.

Prices of aluminium gained over 3% overnight to cross the $2,850-per-tonne mark on the London Metal Exchange. This rise is due to factors such as tight supply, hopes of monetary easing around the world, and closure of a smelter in Iceland which further tightened supply, CNBC-TV18 reported. Higher aluminium prices will improve the realisations of aluminium producers. 

US-based Alcoa Corp. Friday said current aluminium prices, in combination with the Midwest premium, will fully cover the impact of the 50% US tariff on steel and aluminium imports. The Midwest premium refers to the additional cost added to the base price of aluminium, specifically for delivery to the Midwest region of the US, as it accounts for factors like shipping, storage, and handling, CNBC-TV18 said. The statement by Alcoa is positive for Novelis, the US-listed subsidiary of Hindalco Industries.  (Akash Mandal)

Equity Alert: Indices in red as heavyweights HDFC Bank, SBI, Axis Bk fall

MUMBAI--1133 IST--After a lacklustre start to the session Friday, benchmark indices fell with banking and fast-moving consumer goods stocks being the biggest drags. Index heavyweights such as HDFC Bank, Axis Bank, and State Bank of India slipped into the negative territory, which in turn pushed the Nifty 50 lower. At 1102, the Nifty 50 index was at 25818, down 73.40 points or 0.3%, and the BSE Sensex index was at 84311.79, down 244.61 points or 0.3%.

Hindalco Industries topped the Nifty 50 chart with its shares up nearly 4% following the surge in prices of aluminium on the London Metal Exchange. Other aluminium stocks such as National Aluminium Co. and Vedanta topped the Nifty 200 index with shares up

3-4%. Oil and Natural Gas Corp. was up nearly 2%, tracking the rise in global crude oil prices following the US' sanctions on two of the largest Russian oil producers.

Shares of Hindustan Unilever and Cipla were the worst hit in the Nifty 50 index with their shares down 3% each. Kotak Mahindra Bank's shares were down 2% ahead of its September quarter earnings due Saturday. Colgate-Palmolive (India) was worst hit in the Nifty 200 index after the company reported the steepest fall in its net profit since the December quarter of 2016. 

Among the sectoral indices, Nifty Metal was up over 1%, followed by Nifty Realty, and Nifty Oil & Gas. Nifty FMCG was the underperformer, down 1%, followed by Nifty Media, Nifty Private Bank, and Nifty Healthcare.  (Adhithya Aji)

Equity Alert: JM Fincl cuts HUL price aim 1% to INR 2,770 on high valuation

MUMBAI--1113 IST--JM Financial has cut the target price on Hindustan Unilever by 1% to INR 2,770 from 2,800 as the brokerage sees limited upside due to stretched valuation of the stock despite execution and margins seen improving in the coming quarter. 

However, the brokerage remained positive on the stock for the longer run, as it expects the company to deliver better volume-led growth in the second half of FY26 than the first half. It estimates the company's earnings per share growing at a compounded annual rate of 10% over 2025-26 (Apr-Mar) to FY28, and expects a resilient operating performance by the company. New Chief Executive Officer Priya Nair prioritises volume-led revenue growth and focuses on strategic pillars such as radical consumer segmentation, modernising core portfolio, strengthen sales capabilities, and scale-up in high growth demand spaces, the brokerage said. 

The brokerage also expects the demerger of the company's low-margin ice-cream business in the December quarter to improve its earnings before tax, depreciation, and amortisation margin by 50-60 basis points. The pace of channel restocking and the onset of winter will be key monitorables for the stock, the brokerage added. 

Till 1110 IST, nearly 1.70 million shares of the company changed hands on NSE Friday, compared to the 1.04 million shares traded till the same time Thursday. At 1110 IST, shares of the company traded 3.3% lower at INR 2,515 on the National Stock Exchange.  (Durva A. Shivalkar)

Equity Alert: Midwest lists at INR 1,165.10, 9.4% premium to issue price

MUMBAI--1009 IST--Midwest Ltd. listed at INR 1,165.10 on BSE, at a premium of 9.4% to its issue price of INR 1,065. At 1000 IST, shares of Midwest traded at INR 1,170 on BSE. The initial public offering of the company, which ended on Oct. 17, was subscribed 88 times with investors placing bids for 273.98 million shares against 3.12 million shares on offer, according to data from BSE's website.

Hyderabad-based Midwest is in the business of exploration, mining, processing, marketing, distributing, and exporting natural stones. The company had reported a consolidated net profit of INR 232.06 million for the June quarter on a consolidated revenue of INR 1.42 billion. (Adhithya Aji)   

Equity Alert: HUL declines 5% as some brokerages flag weak growth outlook

MUMBAI--1002 IST--Shares of Hindustan Unilever fell nearly 5% to a near one-month low of INR 2,474.50 after some brokerages noted that the company's earnings and growth outlook still looks tepid for the near term. At 0956 IST, the stock traded 3.7% lower at INR 2,504.60 and was the worst hit in the Nifty 50.

Nirmal Bang Equities said while inflation levels have remained benign, outlook on real rural wage growth and employment levels remains weak. These factors were pegged to be key for the company's earnings recovery by the management. "Management mentioned that October would also be impacted by the GST-related disruption and recovery will be gradual," the brokerage added.

"We maintain our HOLD rating as earnings growth is likely to be modest at mid-single digits over FY25-FY27 despite taking into account the Minimalist acquisition as part of our annual forecasts," it said. The brokerage reduced its target price on the stock to INR 2,495 from INR 2,500. 

However, some brokerages also maintained a positive view on the fast-moving consumer goods behemoth, especially due to a strategic vision. This vision underpins a weak medium-term growth outlook, NDTV Profit cited global brokerage Citi as saying. The brokerage maintained a 'buy' rating on the stock and raised the target price to INR 3,000 from INR 2,900.  (Akash Mandal)

Equity Alert: Indices open on muted note; HUL tanks 4%, Hindalco gains 4%

MUMBAI--0933 IST--Benchmark equity indices started the session on a muted note, consolidating after gaining nearly 3% over the past six sessions. At 0931 IST, the Nifty 50 was at 25879.35 points, down 12.05 points or 0.1%. The BSE Sensex was at 84472.30 points, down 84.10 points or 0.1%. Sectoral indices were mixed. Most broader market indices were in the red.

Hindalco Industries surged 4% and was the top gainer on the Nifty 50 after aluminium prices rose globally due to the tight supply and demand dynamics globally, and due to expectations of monetary easing around the world. National Aluminium Co. was also up 4%.

On the other hand, Hindustan Unilever fell nearly 4% and was the worst hit on the Nifty 50 after many brokerages noted that margins would continue to be impacted due to transition to the new goods and service tax system. Cipla was down 3% after some brokerages remained cautious and awaited further details regarding distribution agreement with Eli Lilly to distribute its blockbuster weight loss drug tirzepatide in India. 

Among other stocks, Colgate-Palmolive (India) fell 3% after its September quarter earnings fell short of analysts' estimates. Laurus Labs was down nearly 3% despite robust on-year earnings growth in the reporting quarter as some brokerages expressed concerns regarding stretched valuation of the stock.  (Akash Mandal)

Equity Alert: Most Asian Indices rise after US govt confirms Trump-Xi meet

MUMBAI--0823 IST--Most equity indices in Asia were higher in early trade Friday, after the White House confirmed that US President Donald Trump and his Chinese counterpart Xi Jinping were set to hold talks next week. White House Press Secretary Karoline Leavitt laid out the US president's schedule for his visit to Asian countries. The official said that Trump would leave for Malaysia late Friday and then travel to Japan and South Korea. He will meet the Chinese president on Thursday, after speaking at the Asia-Pacific Economic Cooperation CEO Summit.

South Korea's Kospi was nearly 2% higher, leading the gains in the region. The country's finance ministry Friday said it was ready to take stabilisation measures in the foreign exchange market if needed, amid persistent volatility in the won-dollar trade. The country's GDP was projected to have expanded a seasonally adjusted 0.9% in the Jul-Sept quarter after posting upbeat growth in the previous quarter, according to the median forecast of 12 economists by Reuters. On a year-on-year basis, GDP was forecast to have grown 1.5% following a 0.6% expansion in the Apr-Jun period, based on the median estimate from 18 economists polled by Reuters.

Japan's benchmark Nikkei 225 index rose 1.4% and the broader Topix rose 0.6%. The country's core inflation rose to 2.9% on year in September, the first increase since May and in line with expectations from economists polled by Reuters. This reading was higher than the 2.7% seen in August. 

China's benchmark CSI 300 index was 0.7% higher and Hong Kong's Hang Seng index was also trading with gains. "The post-plenum outline from state news agency Xinhua hinted at policy continuity, which concerns economists who have been calling for a shift towards agrowth model that relies more on household demand," a Reuters report said about the recently concluded fourth Chinese Communist Party plenum.

The press communique released after the event said that the country was trying to build a modern industrial system with advanced manufacturing as the backbone. "There is still an unresolved tension between the leadership's purported desire to boost consumption and its goal of shoring up the size of its manufacturing sector," Capital Economics analyst Julian Evans-Pritchard was quoted as saying by Reuters.

On the other hand, Taiwan's Taiex was down 0.5% and was the worst-hit in Asia. Australia's S&P/ASX 200 was also slightly down.

Following were the levels of key Asian indices at 0810 IST:

(Eshitva Prakash)

Equity Alert: Indices may consolidate in near term; bias remains positive

MUMBAI--0805 IST--Benchmark indices are likely to open flat to slightly higher Friday and consolidate after robust gains in the past six sessions. The Nifty 50, which has gained 3% during this period, may test the 26000 levels again during the session if heavyweights such as banks keep up the positive run, analysts said. Corporate earnings will be in focus with Dr. Reddy's Laboratories and SBI Life Insurance Co. slated to release their September quarter results during the day. 

"A breakout from the cup and handle pattern on the weekly chart with strong volume typically signals a bullish continuation, suggesting that the stock may enter a new uptrend," Mandar Bhojane, senior research analyst at Chola Securities, said. He expects the bullish momentum to continue despite the sharp profit booking seen on Thursday.

The futures contracts of the Nifty 50 also indicate a flattish start to the market. At 0800 IST, the October contract was at 26024.50 points, up 12.50 points, and the November contract was up 11.50 points at 26163 points. On Thursday, the Nifty 50 closed at 25891.40 points, up 22.80 points or 0.1%. The BSE Sensex closed at 84556.40 points, up 130.06 points or 0.2%. 

Overnight, indices in the US ended higher despite mixed corporate earnings. Technology stocks rose, pushing the Nasdaq Composite to be the top gainer on the day. All three indices rose after the US confirmed that President Donald Trump will meet Chinese President Xi Jinping next week as part of his trip through Asia amid an escalating trade war, Reuters reported. Most indices in Asia were also higher in early trade Friday.  (Akash Mandal)

Equity Alert: US mkt ends up Thu led by IT cos, likely strong earnings season

MUMBAI--0748 IST--Equity indices in the US ended higher Thursday, led by gains in technology stocks as strong earnings reported by some companies in the sector boosted investors' sentiment. Indices rose further after White House Press Secretary Karoline Leavitt confirmed the meeting between US President Donald Trump and Chinese President Xi Jinping next Thursday in South Korea. The announcement soothed traders' concerns about US-China trade tensions, which had pressured equities in the previous session.

"The Trump-Xi confirmation is clearly positive... that's a good checkpoint for sentiment, which has been really up-and-down on trade and that's obviously playing a role today (Thursday)," Zachary Hill, head of portfolio management at Horizon Investments in Charlotte, North Carolina was quoted by Reuters as saying.

Shares of automation company Honeywell gained nearly 7% after it posted better-than-expected quarterly results and raised its full-year guidance. Shares of American Airlines rose 6% after its September quarter loss narrowed and the management delivered an upbeat guidance.

The technology-heavy Nasdaq Composite rose nearly 1% after shares of technology heavyweights Nvidia, Broadcom and Amazon rose more than 1%. Shares of artificial-intelligence company Oracle advanced nearly 3%. Quantum computing stocks rose after media reports said the Trump administration was in talks with several of them to take equity stakes in exchange for federal funding, Reuters reported. IonQ, D-Wave Quantum, Quantum Computing and Rigetti Computing gained 7-14%.

Tesla, which was the first of the "magnificent seven" to release its earnings, gained more than 2% after bouncing back from earlier losses following a mixed earnings report. The company reported a 12% on-year increase in its September quarter revenue. However, its earnings missed analyst estimates. Shares of IBM fell nearly 1% despite higher-than-expected earnings after the company reported a slowdown in its cloud software segment.

"While we are seeing individual stocks get punished after missing expectations, we expect earnings overall to be strong enough to keep stock prices elevated in the near-term... this current earnings season is unlikely to disappoint investors enough to trigger a notable market setback," Emily Bowersock Hill, chief executive officer, Bowersock Capital Partners, was quoted by Reuters as saying.

Crude oil prices soared on the US administration's decision to sanction Russian oil companies in an attempt to put pressure on Russian President Vladimir Putin over ending the Ukraine war. Shares of Exxon Mobil and Chevron advanced around 1% each.

Traders await US inflation data, due Friday, which is expected to give cues about the country's economic health ahead of the Federal Reserve's meeting later in the month. The apex bank is widely expected to cut benchmark interest rates by 25 basis points.

Following are the closing levels of US indices Thursday:

(Eshitva Prakash)

End

US$1 = INR 87.85

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Avishek Dutta

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

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