Equity Alert
Mkts stay up; IT, metal cos continue to rise, SBI falls
This story was originally published at 13:51 IST on 22 December 2025
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Equity Alert: Mkts stay up; IT, metal cos continue to rise, SBI falls
MUMBAI--1340 IST--Benchmark indices remained higher due to gains in information technology and metal stocks. The Nifty 50 hovered around the 26150 mark. A decline in State Bank of India and Kotak Mahindra Bank capped gains in the 50-stock index. Technical analysts Friday said that a decisive surge above 26050–26100 points could pave the way for the lifetime highs.
At 1319 IST, the Nifty 50 was at 26142.35 points, up 175.95 points or 0.7%. The BSE Sensex was at 85447.50 points, up 518.14 points or 0.6%. Shriram Finance fell slightly from its intraday highs but was still over 4% higher. Shares of Bharti Airtel continued to rise and were up more than 2%. Shares of Kotak Mahindra Bank fell slightly after having risen for most of the session. Shares of State Bank of India, HDFC Life Insurance, and SBI Life Insurance also traded in the red.
The Nifty IT index was up 2% and has gained over 5% in December so far. The Nifty Metal index also outperformed other sectoral indices and was up 1.8%. The Nifty India Defence index rose 2.6% and shares of Cochin Shipyard and Mazagon Dock Shipbuilders, which were the best performing Nifty 200 stocks, rose over 6% and 5%, respectively. Garden Reach Shipbuilders & Engineers and MTAR Technologies rose around 5–6%.
Shares of railway companies such as Indian Railway Catering and Tourism Corp., Rail Vikas Nigam, Indian Railway Finance Corp., and Railtel rose 2.5-4.0?ter the railway ministry announced hikes in train tickets by 1 paisa per kilometre for ordinary class, beyond a journey of 215 kilometres and 2 paise per kilometre for non-AC classes of mail or express trains.
Among others, Dilip Buildcon rose nearly 4?ter the company was selected as the successful bidder for 1.36 gigawatt project of INR 49 billion by Madhya Pradesh Urja Vikas Nigam and is to be executed over the next one and a half years. (Eshitva Prakash)
Equity Alert: MCX hits new high on SEBI chief's commodity derivatives comment
MUMBAI--1338 IST--Shares of Multi Commodity Exchange of India rose around 5% to a fresh all-time high of INR 10,814 Monday after Securities and Exchange Board of India Chairman Tuhin Kanta Pandey Saturday said the regulator is engaging with the Reserve Bank of India and the Insurance Regulatory and Development Authority of India to allow banks and insurance companies to participate in the commodity derivatives market.
The markets' regulator is also preparing to set up a working group soon to review the non-agricultural derivatives segment, Pandey said at an event. SEBI is waiting for recommendations from working groups which were set up to suggest improvements in order to deepen the commodity derivatives market. SEBI is also engaging with the GST Council to resolve issues related to GST in commodity trading.
At 1320 IST, the stock was up 4.6% at INR 10,782 on the National Stock Exchange. It was up for the third straight session and has gained as much as 8% in this period. So far in the day, 498,892 shares of the company changed hands on the National Stock Exchange, compared to the 295,790 shares traded till the same time Friday. Of the four research reports on the company available with Informist, two have a 'buy' or equivalent recommendation and the other two have a 'sell' or equivalent call. (Arya S. Biju)
Equity Alert: Shriram Finance at all-time high on bullish view of brokerages
MUMBAI--1315 IST--Shares of Shriram Finance rose 5% to an all-time high of INR 949.80 after brokerages extended a bullish view on the investment of INR 396.18 billion from Japan's MUFG Bank. Most brokerages have a 'buy' recommendation on the stock and some raised the target price by 16-24%.
The stock was up for the fourth consecutive session and rose nearly 12%. At 1307 IST, shares of the company were nearly 5% higher at INR 942.45. Nearly 24 million shares of the company changed hands, higher than 21 million shares traded till the same time Friday.
The entry of MUFG Bank represents a meaningful strategic upgrade for Shriram Finance with positive implications on both market positioning and long-term profitability, according to Motilal Oswal. The investment will strengthen the company's credit profile and materially improve the likelihood of credit rating upgrade to AAA. It will also enable a structural reduction in cost of funds through enhanced balance sheet credibility, the brokerage said. Motilal Oswal also estimates assets under management compounded annual growth of 18% over 2024-25 (Apr-Mar) to FY28.
Prabhudas Lilladher raised the target price on the stock of Shriram Finance to INR 1,060 from INR 875, up 21%. The brokerage believes that the deal reinforces confidence in the company by strengthening its balance sheet and providing access to long-term growth capital. "We expect an increase of 15% in CRAR (capital to risk-weighted assets ratio) ratio to 36% post equity infusion," Prabhudas Lilladher said.
Emkay Global Financial Services has raised the target price to INR 1,050 from INR 850, up nearly 24%, with a 'buy' recommendation. The deal pushed Shriram Finance's capital adequacy by 14%, making a strong case for a rating upgrade, the brokerage said. Emkay raised the book value per share estimate of the company by 24% for FY27 and 20% for FY28. This is driven by capital infusion, which is likely to bring down the interest cost, the brokerage said.
Nomura has raised the target price on shares of Shriam Finance to INR 1,140 from INR 985, up nearly 16%. Despite the classification of MUFG Bank as a public shareholder, it gets to nominate up to two non-independent directors on the board of Shriram Finance. This could bring the expertise of a premier Japanese bank in various aspects of Shriram Finance's operations and business model, which the brokerage sees as a big positive for the company. Nomura also has a 'buy' recommendation on the stock. (Adhithya Aji)
Equity Alert: Some IT stocks rise tracking Fri's gains in Infosys, Wipro ADRs
MUMBAI--1310 IST--Shares of some information technology companies were among the top gainers during the session so far Monday, with Nifty IT rising nearly 2% to an intra-day high of 39439.15 points. This follows a sharp rise in American Depository Receipts of Wipro and Infosys on the New York Stock Exchange on Friday.
Infosys' ADRs rose over 56% to $30 on the US exchange. The surge triggered multiple 'Limit Up and Limit Down' circuit breakers, pushing the exchange to temporarily suspend trading, according to a report by NDTV Profit. The rise came despite any development or fundamental news around Infosys, with the company reaffirming the same in an exchange filing. The ADRs of Infosys ended at $20.22, up over 5%.
Several data providers had mistakenly mapped the "INFY" ticker to an unrelated entity and continued to attach Infosys-specific financial metrics and headlines to it, Moneycontrol cited The Chronicle Journal as saying. "The impact was magnified by low liquidity and the relatively thin trading volumes typical of Infosys ADRs (American Depository Receipts)," the report added.
In another exchange filing, Infosys said that a US court approved the settlement plans reached between Infosys MaCamish and its customers. As part of the settlement plan Infosys McCamish Systems has agreed to pay $17.50 million to a fund to settle matters. At 1255 IST, Infosys was up nearly 3% at INR 1,685.50 on the National Stock Exchange.
Similarly, Wipro ADRs rose 8% to an intra-day high of $3.09 on the New York Stock Exchange. Shares of Wipro on the NSE were up 3% at INR 272.49. (Akshat Saksena)
Equity Alert: Dilip Buildcon up 6% as co wins bid for 1.36 GW project in MP
MUMBAI--1230 IST--Dilip Buildcon rose nearly 6% to a high of INR 484.80 after the company was selected as the successful bidder for 1.36 gigawatt project worth INR 49 billion by Madhya Pradesh Urja Vikas Nigam, to be executed over the next one and a half years. The stock has gained has gained nearly 9% in the last 30 days and is up over 1% in the last 52 weeks.
For the project, Dilip Buildcon will establish grid-connected solar photovoltaic-based power plants under the feeder solarization component of the Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan - (C Surya Mitra Krishi Solarization), according to an exchange filing by the company. The project would be carried out through multiple special purpose vehicles, with the company securing the engineering, procurement, and construction business opportunity. The power generated will be sold to Madhya Pradesh Power Management Co. for a period of 25 years, the company said in an exchange filing.
At 1208 IST, shares of Dilip Buildcon were up nearly 3% at INR 471.45 on the National Stock Exchange, with 749,253 shares of the company exchanging hands during the session so far, significantly higher than the 79,013 shares traded till the same time on Friday.
Out of five brokerage reports on the stock available with Informist, two have a 'sell' recommendation, two have a 'hold' recommendation, and one has a 'buy' recommendation on the stock. (Akshat Saksena)
Equity Alert: Nifty 50 edges higher; small-, mid-cap indices extend gains
MUMBAI--1223 IST--Benchmark indices continued to be higher and the Nifty 50 edged slightly up in midday trade. Gains in Infosys and Bharti Airtel supported the 50-stock index, while a near 1?ll in State Bank of India limited its rise. Shriram Finance continued to gain steadily and rose almost 5%. The rise in broader market indices outpaced the rise in their benchmark peers.
At 1221 IST, the Nifty 50 was at 26150.85 points, up 184.45 points or 0.7%. It was up 0.4% at open. The BSE Sensex was at 85452.61 points, up 523.25 points or 0.6%. Wipro's shares were up over 3% and other information technology stocks such as Tech Mahindra and HCL Technologies extended their intraday gains, trading 2% and 1.4% higher, respectively.
The Nifty Smallcap 250 index and the Nifty Midcap 150 index were up almost 1%, with shares of midcaps, AIA Engineering, Bharat Dynamics, and Ajanta Pharma rising nearly 2–3?ch. Akums Drugs and Pharmaceuticals, Angel One, and Aditya Birla Lifestyle Brands gained the most among smallcap companies, rising 1–2%.
Fortis Healthcare rose nearly 2% after JM Financial Institutional Securities upgraded its recommendation on the stock to 'buy' from 'add' and slightly raised its target price. Among other healthcare stocks, Piramal Pharma, which is one of the frontrunners among contract development and manufacturing organisations set to benefit from the recently passed US Biosecure act, was up more than 4%. Other contract development and manufacturing players, like Laurus Labs, Syngene International, and Divi's Laboratories rose 0.5-1.1%.
The Nifty PSU Bank index was largely flat, weighed down by a 0.4-1?ll in shares of Union Bank of India, State Bank of India, and Bank of India. Shares of Punjab and Sind Bank were almost 3% higher after falling for four consecutive sessions. (Eshitva Prakash)
Equity Alert: Jupiter Wagons shares rise 15% post promoter's stake buy
MUMBAI--1151 IST--Shares of Jupiter Wagons surged 15% to a high of INR 298.65 after promoter Tatravagonka A.S. acquired 2.87 million shares for INR 1.35 billion at a price of INR 470 per share, a premium of nearly 81% to the previous closing price.
The stock was up for the second consecutive session and rose nearly 18% during the period. At 1140 IST, shares of the company were up nearly 13% at INR 293.85 on the Nifty 500 index. Over 32 million shares of the company were traded, which is sharply higher than 243,663 shares traded till the same period Friday.
After the acquisition, Tatravagonka A.S. holds 82.22 million shares or 19.24% stake in the company, Jupiter Wagons said in an exchange filing. All three brokerage reports available on the company with Informist have a 'buy' recommendation on the stock. (Adhithya Aji)
Equity Alert: Indices remain higher; Nifty IT rises almost 2% to a 5-mo high
MUMBAI--1120 IST--Benchmark indices and all sectoral indices remained higher. Technical analysts had said that a rally to 26200 points was possible for the Nifty 50 if it managed to continue trading over its immediate resistance of 26000. The Nifty IT index was the top sectoral performer and was up almost 2%, hitting an over five-month high.
At 1117 IST, the Nifty 50 was at 26123 points, up 156.60 points or 0.6%. The index has been consistently higher than its immediate resistance pegged by technical analysts. The BSE Sensex was at 85369.97 points, up 440.61 points or 0.5%. Telecommunication giant Bharti Airtel, which has a near 5% weightage in the 50-stock index, rose 2%. Shriram Finance continued to rise and was up nearly 5%, advancing over 10% in a week. Meanwhile, SBI Life Insurance Co. and State Bank of India declined 0.5?ch.
Most metal and information technology stocks have remained higher throughout the session. Among IT companies, Wipro extended its gains and was up almost 3%. Shares of Tech Mahindra were up nearly 2% and HCL Technologies added 1.4%. Infosys remained higher and was up more than 2%. Metal companies Tata Steel, Hindalco Industries, and JSW Steel rose 1-2%. In the Nifty Metal index, Jindal Stainless was the only stock that traded almost flat.
The Nifty India Defence index rose almost 2%, extending Friday's gains. Shares of Cochin Shipyard, Garden Reach Shipbuilders & Engineers, and MTAR Technologies rose 4–5%, and all other constituents traded higher.
In the Nifty 500 index, Jupiter Wagons rose nearly 13?ter its board approved an allotment of 2.87 million shares of the company with a face value of INR 10 each, at a premium of INR 460 per share to promoter entity TATRAVAGONKA A.S. Shares of RITES rose 3?ter the company late Friday said it had signed a memorandum of understanding with the Republic of Botswana to collaborate on the development and modernisation of transport infrastructure in the country. Meanwhile, Siemens Energy was the worst hit in the 500-stock index, down nearly 6%. (Eshitva Prakash)
Equity Alert: Indices remain up aided by index heavyweights, metal, IT cos
MUMBAI--1015 IST--Benchmark indices remained higher due to a rise in index heavyweights and metal and information technology stocks. The Nifty 50 was consistently higher than the immediate resistance of 26,000 points pegged by analysts.
At 1016 IST, the Nifty 50 was at 26132.20 points, up 165.80 points or 0.6%. The BSE Sensex was at 85416.87 points, up 487.51 points or 0.6%. Shares of Shriram Finance were up almost 4%. Global brokerage Nomura raised the target price on shares of Shriam Finance to INR 1,140 from INR 985, up nearly 16% and retained a 'buy' rating on the stock after Japan's MUFG Bank decided to buy a 20% stake in the Indian non-banking financial company. The brokerage said that the expertise of a premier Japanese bank would benefit Shriram Finance's operations and business model.
Among other index movers, Infosys remained higher and was up over 2%. Shares of Bharti Airtel, ICICI Bank, and Reliance Industries advanced 0.5-1.6%. These three companies hold a near 22% weightage in the 50-stock index. A rise in metal companies also supported the index, with shares of Tata Steel, Hindalco Industries, and JSW Steel rising 1-2%.
GE Vernova T&D India was the best performing Nifty 500 stock and rose more than 8?ter the company got a contract to design and establish a high volatage direct current terminal station of 2.5 gigawatts from AESL Projects. Meanwhile, Siemens Energy fell 5.6?ter an analyst said the company lost the HVDC order to GE Vernova.
All sectoral indices were higher in early trade. Nifty Metal and the Nifty IT index led the pack and were over 1% higher each. The India VIX index, which is the market's fear gauge, rose 1.5?ter falling for four consecutive sessions.
Broader market indices kept pace with their benchmark peers, with the Nifty Smallcap 250 and the Nifty Midcap 150 index rising 0.5?ch. Among small-cap stocks, Action Construction Equipment, Anant Raj, and Akums Drugs And Pharmaceuticals rose more than 1%. Ashok Leyland, Apar Industries, Aia Engineering were the best performing mid-cap stocks, up 1-2%. (Eshitva Prakash)
Equity Alert: GE Vernova shares jump 11?ter co wins major contract
MUMBAI--1010 IST--Shares of GE Vernova T&D India rose as much as 11% to INR 3,251.80, their highest level in over a month, after the company secured a contract to design and establish a high volatage direct current terminal station of 2.5 gigawatts from AESL Projects. The company did not disclose the amount of the contract. At 1005 IST, the stock traded nearly 7% higher at INR 3,128.80 and was among the top gainers in the Nifty 500 index.
The terminal station will be used to evacuate renewable power from Khavada to South Olpad in Gujarat, GE Vernova said in an exchange filing Saturday. The order is expected to be executed over multiple years, it said. Brokerages expect the total project value to be worth INR 80 billion-INR 120 billion.
Nuvama Wealth Managament estimates the order to be worth around INR 80 billion-INR 100 billion. This order is meaningful given the company's existing order book of around INR 131 billion and its sales estimate of INR 55 bilion-INR 60 billion for 2025-26 (Apr-Mar), the brokerage said. "With a 3-4 year execution profile, we estimate there could be a 20-30% upside to our FY28-(FY)29 estimated earnings," Nuvama said in a note Monday.
Brokerage Prabhudas Lilladher expects the total project value to be INR 120 billion. "This win materially enhances GE Vernova's credentials in HVDC–VSC (High-Voltage Direct Current–Voltage Source Converter) technology and strengthens its competitive positioning for future HVDC tenders," the brokerage said. With the next wave of high-voltage direct current–voltage awards tilted towards Line Commutated Converter, order prospects for Hitachi Energy India and GE Vernova remain favourable, while Siemens Energy's addressable opportunity set may narrow in the near term, Prabhudas Lilladher said. At 1005 IST, shares of Siemens Energy were down over 5% and were the worst hit among Nifty 200 constituents. (Arya S. Biju)
Equity Alert: Nomura raises Shriram Finance target price by 16% to INR 1,140
MUMBAI--1000 IST--Nomura has raised the target price on shares of Shriam Finance to INR 1,140 from INR 985, up nearly 16%. The brokerage has retained a 'buy' recommendation on the stock after Japan's MUFG Bank decided to buy 20% stake in the Indian non-banking financial company. Despite the classification of MUFG Bank as a public shareholder, it gets to nominate up to two non-independent directors on the board of Shriram Finance. This could bring the expertise of a premier Japanese bank in various aspects of Shriram Finance's operations and business model, which the brokerage sees as a big positive for the company.
On Monday, shares of the company rose nearly 4% to an all-time high of INR 936.55. The stock is up for the fourth consecutive session and rose over 10% during the period. At 0950 IST, shares of the company were over 3% higher at INR 932.45. Nearly 11 million shares of the company were traded so far today, nearly five times the number of shares traded till the same period Friday.
The brokerage estimates 24?cretion to Shriram Finance's book value per share forecast for 2026-27 (Apr-Mar) post the deal. This is likely to translate into return on equity dilution of around 3.4 percentage points in FY27, Nomura said. Among the top vehicle financiers, only Mahindra & Mahindra Financial Services has an AAA rating, whereas both Shriram Finance and Cholamandalam Investment and Finance Company have an AA+ rating. Shriram Finance's FY22-FY25 cost of funds was 73 basis points higher than the latter's and the bond data also indicate the same gap. Therefore, the brokerage expects an improvement in the cost of funds from FY28.
The brokerage expects a big upswing in Shriram Finance's growth outlook due to a large capital infusion, which is likely to accelerate the diversification plan. "As we lift FY28F AUM (assets under management) growth to 20% from 17?rlier and trim cost of funds by 24bp (basis points), our net profit estimate is up 22%," Nomura said. (Adhithya Aji)
Equity Alert: Siemens Energy dn 6?ter losing out to rival on major order
MUMBAI--0956 IST--Shares of Siemens Energy India fell as much as 6?ter its competitor GE Vernova T&D India won a major order for a high voltage direct current terminal station. Shares of Siemens Energy hit its lowest level in over five months at INR 2,582 on the National Stock Exchange.
GE Vernova Saturday announced that it had got a contract for a HVDC terminal of 2.5 gigawatts to excavate renewable power from Khavada to South Olpad in Gujarat. "Siemens Energy was expected to win this order," an analyst with a foreign brokerage, which covers the sector, said.
Losing the above-mentioned order is a major loss for the company, several brokerages indicated in their reports. Nuvama Wealth Management estimates the order is likely to be worth INR 80 billion-INR 100 billion.
Share volumes for Siemens Energy India were higher than usual with 1.4 million shares having changed hands so far in the day as compared with a daily average volume of 820,000 shares over the last three months. At 0954 IST, shares of the company were down over 5% to INR 2,600. Over the past few months, the stock has been weak, losing over 26% in three months. (Anshul Choudhary)
Equity Alert: Indices open higher; IT cos, index heavyweights gain
MUMBAI--0945 IST--Domestic benchmark indices opened higher Monday, extending Friday's gains on the back of a rise in shares of information technology companies. Almost every Nifty 50 constituent rose in the opening minutes of trade. Heavyweight financial services companies were also higher, aiding the 50-stock index.
At 0945 IST, the Nifty 50 was at 26133.40 points, up 167 points or 0.6%. The BSE Sensex was at 85428.98 points, up 499.62 points or 0.6%. Shares of Infosys were up more than 2%, the most on the Nifty 50 index. On Friday, American Depositary Receipts of Infosys surged as much as 40% and climbed to a 52-week high of $30. Other IT companies such as Wipro, Tech Mahindra, and HCL Technologies, rose 1–2%. Shares of Shriram Finance rose for the fourth consecutive session after brokerages raised their target price on the stock, citing positive implications from the recent stake acquisition in the company by Japan's MUFG. Meanwhile, shares of Mahindra and Mahindra and Ultratech Cement were slightly lower.
Index heavyweights HDFC Bank and Reliance Industries were 0.6% higher each, aiding the 50-stock index. Shares of ICICI Bank and Bharti Airtel were 0.6% and 1% higher, respectively.
Among sectoral indices, the Nifty Metal index was 1.4% higher, followed by the Nifty IT index, which rose over 1%. Shares of metal companies such as Tata Steel and JSW Steel rose around 1%. Shares of Hindustan Zinc and its parent company Vedanta rose almost 1% and 3%, respectively, as the COMEX March silver contract hit a new record high of $69 per ounce.
Among other stocks, GE Vernova T&D India advanced after the company got a contract to design and establish a high voltage direct current terminal station of 2.5 gigawatts from AESL Projects, according to an exchange filing Saturday. Shares of Siemens Energy India were more than 5% lower, the worst hit stock in the Nifty 500 index. (Eshitva Prakash)
Equity Alert: Indices may open higher tracking gains in US, Asian peers
MUMBAI--0810 IST--Domestic headline equity indices are expected to open higher, extending gains from Friday's session, when they rose after a four-day fall, supported by positive global cues. The recent slight recovery seen in the Indian rupee against the dollar, primarily on likely intervention by the Reserve Bank of India, is also expected to support investor sentiment Monday.
On Friday, major US indices closed higher, led by a rebound in technology shares. Chipmaker Micron Technology's strong forecasts reignited optimism around AI-related stocks, which had recently come under pressure over lofty valuations and funding concerns. Most Asian indices were also higher in early trade Monday, tracking gains on Wall Street. On Monday, the People's Bank of China decided to keep its 1-year and 5-year loan prime rates unchanged at 3% and 3.5% respectively, holding them for the seventh straight meeting, as estimated in a Reuters poll.
Oil prices climbed in early trade Monday after the US intercepted a Venezuelan oil tanker over the weekend. At 0810 IST, Brent Crude futures was up 0.8% at $60.97 per barrel. The US is also pursuing another oil tanker in what would be the third such operation in less than two weeks if it succeeds, officials told Reuters Sunday.
The Indian rupee had seen a marginal recovery in the past three sessions after hitting a fresh record low last week. The recovery came on likely intervention by the RBI. The rupee's weakness against the dollar had been one of the primary reasons for the recent decline in the stock market, according to analysts.
GIFT Nifty contracts suggest the Nifty 50 may open higher. At 0809 IST, the December contract of the GIFT Nifty traded at 26182 points, more than 215 points above the Nifty 50's close on Friday. The Nifty 50 ended 0.6% higher at 25966.40 points on Friday. (Arya S. Biju)
Equity Alert: Asian indices open higher tracking gains on Wall Street
MUMBAI--0801 IST--Asian equity indices opened higher Monday tracking global cues as Wall Street gained due to rise in technology stocks. Investors also welcomed the Chinese central bank's decision to keep prime loan rates steady.
The People's Bank of China kept its one-year and five-year prime loan rates unchanged at 3% and 3.5%, respectively. The central bank kept the rates unchanged for the seventh straight meeting, CNBC reported. The one-year rate influences most new and outstanding loans, while the five-year rates affect mortgages, as per the CNBC report. China's CSI 300 index was up 0.8% and the Hang Seng Index was up 0.2%. South Korea's KOSPI rose 1.9% and Australia's SP/ASX 200 Index rose 0.9%.
Japan's Nikkei 225 rose over 2% as the yen declined, leading to robust export earnings for Japanese corporates. The yen sell-off came as the Bank of Japan raised interest rates to a 30-year high of 0.75%, which led to heavy selling pressure on government debt, Reuters reported. On Friday, the US equity indices ended higher for the second consecutive session, led by gains in technology stocks.
Following were the levels of key Asian indices at 0755 IST:
|
Level |
Last |
Change in % |
| S P/ ASX 200 INDEX |
8702 |
0.93 |
|
KOSPI |
4096.93 |
1.90 |
|
Hang Seng Index |
25733.03 |
0.17 |
|
CSI 300 Index |
4606.62 |
0.84 |
|
TAIEX |
28044.03 |
0.26 |
|
TOPIX FIRST SECTION |
3414.24 |
0.90 |
|
Nikkei 225 Day |
50515.33 |
2.04 |
(Adhithya Aji)
Equity Alert: US indices end higher Fri as technology stocks rebound
MUMBAI--0734 IST--US equity indices ended higher Friday, as technology stocks rebounded. Shares of artificial intelligence companies rose due to chipmaker Micron Technology's strong guidance for revenue for the current quarter. Shares of the company had recently come under pressure over high valuations and funding concerns. The stock rose 7%.
Shares of tech giant Oracle surged nearly 7?ter TikTok agreed to sell its US operations to a new joint venture that includes the former private equity investor Silver Lake, CNBC reported. The shares of the company had come under pressure last week after media reports said Oracle lost a key investor from one of its data centre projects, which sparked concerns. Nvidia's shares rose about 4?ter US President Donald Trump launched a review that could result in the first shipments of the company's second-most powerful AI chips to China, Reuters reported, citing sources.
"Tech in general, particularly the AI-related companies, came under a fair amount of pressure and when Micron reported (on Wednesday) and the market reacted the way that it did, there's the idea that maybe people can come back to these (stocks)," Reuters quoted Thomas Martin, senior portfolio manager at Globalt Investments, as saying
Shares of Nike were among the worst hit after the company saw its revenue in its Greater China market decline for the sixth consecutive quarter, as per CNBC.
Following are the closing levels of US indices Friday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6834.5 |
0.88 |
|
NASDAQ Composite |
23307.62 |
1.31 |
|
Dow Jones Industrial Average |
48134.89 |
0.38 |
(Adhithya Aji)
US$1 = INR 89.56
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
All prices from National Stock Exchange, unless otherwise specified.
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