Equity Alert
European indices up; FTSE 100, CAC 40 touch record highs
This story was originally published at 15:20 IST on 14 January 2026
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Equity Alert: European indices up; FTSE 100, CAC 40 touch record highs
MUMBAI--1447 IST--Equity indices in Europe opened higher. The UK's FTSE 100 and France's CAC 40 touched all-time highs. Investors in the region are focusing on the meeting between officials of the US, Greenland, and Denmark.
US Secretary of State Marco Rubio is set to meet officials from Denmark and its semi-autonomous territory Greenland Wednesday to discuss President Donald Trump's desire to annex the Arctic Ocean island. Officials from Greenland and Denmark have repeatedly stated that the territory is not for sale. Trump administration officials have even indicated the possibility of using military force to acquire the island.
Integrated energy company bp said it expects to take impairment charges ranging between $4 billion and $5 billion for its fourth quarter. These charges are related to the company's gas and low carbon energy units and will be excluded from the underlying replacement cost profit. The company also expects its oil trading results to be weaker than its third quarter results, CNBC reported. bp's financial year starts Jan. 1 and ends Dec. 31. Shares of the company were over 1% lower in early trade.
Czech ammunition maker Czechoslovak Group said it plans to list in Amsterdam, Netherlands, in the coming weeks with a potential valuation of around $34.94 billion. The company expects to profit from a regional defence spending cycle due to geopolitical developments in the region and other parts of the world. Early commitments from funds such as Artisan Partners, BlackRock, and Al-Rayyan have already totalled 900 million euros, or $1.05 billion, as firms hurry to gain exposure to what could potentially become one of the region's more valuable defence companies.
The Bank of England's policy rate is likely to continue falling as the country's inflation is expected to settle around the central bank's target of 2%, BoE policymaker Alan Taylor said, according to a Reuters report. "We can now see inflation at target in mid-2026, rather than having to wait until 2027 as in our previous projection," Taylor was quoted as saying.
Following were the levels of major European indices at 1445 IST:
|
Index |
Level |
Change in % |
|
FTSE 100 Index |
10164.22 |
0.27 |
|
CAC 40 |
8389.68 |
0.51 |
|
FTSE MIB Index |
45728.63 |
0.45 |
|
DAX PERFORMANCE-INDEX |
25433.57 |
0.05 |
|
SLI PR |
2174.88 |
0.64 |
(Akshat Saksena)
Equity Alert: Coal India at 1-year high as arm's IPO subscribed 147 times
MUMBAI--1408 IST--Shares of Coal India rose 3% to an over one-year high of INR 442 after its subsidiary Bharat Coking Coal's initial public offering was subscribed 146.87 times as on the final day. This is the second-largest IPO subscription for a state-owned company on record.
At 1408 IST, shares of Coal India were up 1.3% at INR 434.30. Over 14 million shares of the company have changed hands on NSE so far Wednesday, nearly three times the number of shares traded till the same time Tuesday. The stock has risen nearly 4% so far this week and has gained 13% over the last 30 days.
Bharat Coking Coal received bids for 50.96 billion shares against 346.95 million shares on offer. Qualified institutional buyers subscribed their portion 310.81 times with bids made for 24.61 billion shares against 79.17 million shares allocated. The company's IPO is only second to Mazagon Dock Shipbuilders, whose IPO was subscribed 157.41 times, CNBC-TV18 reported. (Adhithya Aji)
Equity Alert: Asian mkts up; CSI 300, SSE Composite, Singapore Straits fall
MUMBAI--1358 IST--Indices in Asia were largely higher, barring the Chinese CSI 300 Index and SSE Composite Index, along with the FTSE Singapore Straits Times. The CSI 300 fell after the Chinese government raised the minimum margin requirement for financing securities purchases to 100%.
Shares in China and Hong Kong saw gains as Asian markets found support from geopolitical uncertainties in West Asia, as this increased demand for non-US equities with some investors seeing Asia as a hedge and China's markets as a major beneficiary of the trend, the South China Morning Post reported. UBS Group said Chinese equities have become an increasingly vital alternative for global investors looking to reduce their exposure to US stocks, with the latter facing pressure due to concerns about the independence of the US Federal Reserve. "Chinese assets' appeal will further increase this year because of a sharpened focus on diversified investments," Thomas Fang, head of China global markets at UBS, was quoted as saying by the South China Morning Post. Shares of Kuaishou Technology were up 4?ter the company said its video-generation AI product had reached $20 million in monthly revenue in December.
However, the gains were wiped out after the country's authorities raised the minimum margin requirement for financing securities purchases to 100% from 80% in the country's latest policy effort to limit risks, Bloomberg reported. The new rules require investors to now provide margin equal to the full value of the securities they buy on credit, Bloomberg said, referring to a statement from the Shenzhen Stock Exchange. The Hang Seng was still trading 0.6% higher.
The country's exports grew 5.5% for the entire 2025, taking its trade surplus to $1.19 trillion, up 20% on year. This came as the country's exports to the US declined 20% for the year. In December, the country's exports jumped 6.6% in US dollar terms last month from a year earlier, while its shipments to the US declined 30% on year, CNBC reported, referring to the Chinese customs data.
Indices in Japan remain higher on expectations that Prime Minister Sanae Takaichi could call for snap elections. Indices in the country are witnessing a "Takaichi trade" which is characterised by a weak yen, falling bond prices and stronger equity markets on expectations that she would advocate policies to stimulate the economy. "Around the time of Lower House elections, overseas investors tend to buy Japanese stocks, and large-cap, high-ROE (return on equity), and high-beta stocks tend to perform well," CNBC said, quoting Bank of America.
Following are the levels of key Asian indices at 1355 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4741.93 | (-)0.40 |
|
Hang Seng Index |
26999.81 | 0.56 |
|
KOSPI |
4723.1 | 0.65 |
|
Nikkei 225 Day |
54341.23 | 1.48 |
|
TOPIX FIRST SECTION |
3644.16 | 1.26 |
|
FTSE Singapore Straits Times |
4795.46 | (-)0.24 |
|
S&P/ASX 200 Index |
8820.60 | 0.14 |
| SSE Composite Index | 4126.09 | (-)0.31 |
(Akshat Saksena)
Equity Alert: Indices rise as metal, energy cos gain; RIL up 1%
MUMBAI--1320 IST--Benchmark indices rose, supported by gains in the shares of metal and energy companies. Index heavyweight Reliance Industries was up nearly 1%, helping the Nifty 50 remain in positive territory.
At 1256 IST, the Nifty 50 was at 25746.95 points, up 14.65 points or 0.1% and the BSE Sensex was at 83662.08 points, up 34.39 points.
Tata Steel and NTPC rose nearly 4% to be the top gainers among Nifty 50 constituents, followed by Oil and Natural Gas Corp., and Axis Bank, which rose nearly 3?ch. In contrast, Tata Consultancy Services, Asian Paints, and Sun Pharmaceutical Industries were the worst hit in the 50-stock index, down nearly 2?ch. Shares of Coal India rose nearly 2%. The state-owned company's subsidiary, Bharat Coking Coal's initial public offering was subscribed 146.87 times as of the final day of bidding. The company became the second-largest subscribed public sector undertaking IPO on record, CNBC-TV18 reported.
All broader indices were up, with the Nifty small-caps up nearly 1?ch. Gains in the Nifty Smallcap 50 were led by a rise in Multi Commodity Exchange of India, which rose nearly 6%. Among sectoral indices, the Nifty Metal and Nifty PSU Bank were the top gainers, up nearly 3% and 1%, respectively. The Nifty Metal was supported by gains in the shares of Vedanta and its subsidiary, Hindustan Zinc.
Shares of Union Bank of India rose after the bank detailed its December quarter results. It reported a net profit of INR 50.17 billion, exceeding analysts' expectation of INR 41.11 billion. The stock rose to be the top gainer in the Nifty 200 index.
Vedanta was up nearly 6% and Hindustan Zinc was up nearly 5%. Vedanta hit an all-time high of INR 679.45 after Nuvama Institutional Equities raised the target price on the stock by 17.5% to INR 806 from INR 686. The company is in the final stages of receiving statutory clearances for its demerger into five separately listed companies, the brokerage said. The stocks of Vedanta and Hindustan Zinc were among the top gainers in the Nifty 200 index.
Shares of Tata Elxsi were the worst hit in both the Nifty 200 and Nifty 500 indices, down over 4%. ICICI Lombard General Insurance Co. was among the worst hit in the Nifty 200 index, down 2%. The insurance company's net profit for the December quarter fell nearly 9% on year to INR 6.59 billion. This was against the Street's expectation of a 12% on-year rise to INR 8.08 billion. (Adhithya Aji)
Equity Alert: Union Bank up 8%; Q3 net profit exceeds view, NIM improves
MUMBAI--1316 IST--Shares of Union Bank recovered swiftly and rose 8% to a high of INR 179.26 after the bank's net profit for the December quarter beat analysts' estimates by a wide margin, aided by sharp fall in provisions. At 1258 IST, the bank's stock traded at INR 177.58, up 6.9%. Before the disclosure of results, the stock was down 0.2%.
The bank reported a net profit of INR 50.17 billion, up over 8% on year and exceeded consensus estimate of INR 41.11 billion. This was mainly due to an 80% on-year fall in its provisions to INR 3.22 billion. The bank's total income rose slightly on year to INR 309.84 billion. The lender's net interest margin improved to 2.76% from 2.67% quarter ago. (Gopika Balasubramanium)
Equity Alert: Vedanta at record high; Nuvama sees demerger completing by FY27
MUMBAI--1156 IST--Shares of Vedanta rose 7% to a record high of INR 679.45 and the stock was the top gainer on the Nifty 200 index. Nuvama Institutional Equities said Vedanta is in the final leg of receiving statutory clearances for demerger into five separately listed companies, which would unlock value. And hence, the brokerage raised the stock's target price over 17% to INR 806. At 1155 IST, the stock was at INR 674.35, up 5.8%. Hindustan Zinc, its subsidiary, was the second highest Nifty 200 gainer and traded 5% higher at INR 661.
Depending on receiving clearances, Nuvama believes it may opt to list separate companies in phases too. The brokerage expects the entire demerger process and listing of all companies to be completed by the first quarter of 2026-27 (Apr-Mar). "We believe it will allocate debt judiciously to each entity (at time of demerger), which can service debt at comfort," Nuvama said.
The broking firm raised its estimates of earnings before interest, tax, deprecition and amortisation for FY27 by 17% and for FY28 by 8% to factor in "higher commodity prices." This would lead EBITDA to increase 20% annually over FY25–FY28, the broking firm said, adding that besides higher commodity prices, cost reduction in aluminium and volume growth in International zinc is likely to aid Vedanta's high profitability. Amid expectation of global deficit in aluminium, zinc and silver in 2026, Nuvama expects prices to sustain much higher than historical average. (Gopika Balasubramanium)
Equity Alert: Tata Elxsi falls 4?ter sharp decline in Q3 net profit
MUMBAI--1155 IST--Shares of Tata Elxsi fell nearly 4% to an intraday low of INR 5,555 after the design and technology services company Tuesday reported a sharp sequential decline in its net profit for the December quarter. The company's bottom line was dragged down by a one-time cost on account of the new labour codes.
Tata Elxsi's net profit fell 30% on quarter to a six-year low of INR 1.09 billion in Oct-Dec, down almost 30% on quarter. Its revenue, however, was the highest in the last five quarters, at INR 9.54 billion, up 4% sequentially.
At 1152 IST, shares of Tata Elxsi were over 4% lower at INR 5,550. Over 513,000 shares of the company changed hands so far, which is higher than nearly 216,000 shares traded till the same time Tuesday. The stock fell after rising for two consecutive sessions and was the worst hit among the Nifty 200 constituents.
The revenue of the company was above the analysts' estimate of INR 9.49 billion, aided by a robust growth in the transportation vertical, according to Prabhudas Lilladher. Normalisation at its top client and an accelerated ramp-up of previously won deals supported the segment in the reporting quarter, the brokerage said. The revenue of the company in dollar terms is expected to grow at a compound annual growth rate of 9.9% over 2025–26 (Apr-Mar) to FY28. The brokerage also raised the target price on the stock of the company to INR 5,500 from INR 5,470 with a ‘hold' call.
The automotive segment remains a core area for the company as its major client, Jaguar Land Rover, will normalise its operations in another 3 to 6 months after a cyberattack, said Nirmal Bang Equities. The brokerage upgraded its recommendation on the stock to 'hold' from 'sell'. It also raised the target price 11% to INR 5,764 from INR 5,186. (Adhithya Aji)
Equity Alert: Indices flat after falling briefly; metal, energy cos gain
MUMBAI--1127 IST--Benchmark indices were flat after being in the red briefly during the session. The Nifty Metal index and the Nifty Energy index gained the most among sectoral indices while the Nifty Realty and Nifty IT were the worst performing. Most of the stocks in the Nifty 50 index traded higher than their previous close.
At 1126 IST, the Nifty 50 was at 25735.70 points, up 3.40 points. The BSE Sensex was at 83593.94 points, down 33.75 points. Shares of Tata Steel, Axis Bank, and Oil and Natural Gas Corp., up 3-4%, were the best performers in the NIFTY 50 index. Gains seen in these companies, along with the 1-3% rise seen in shares of Hindalco Industries, NTPC, and Reliance Industries helped the 50-stock index rise, with gains in Axis Bank providing the most support. The 0.4-1% losses in heavyweight HDFC Bank and ICICI Bank pulled the index down in the tug of war seen during the session on Wednesday. Tata Consultancy Services, Hindustan Unilever, and Asian Paints, down nearly 2% each, are the worst performers in the Nifty 50 index. Shares of Infosys were trading slightly higher ahead of their earnings, due later in the day.
Urja Bharat, a 50:50 joint venture between Indian Oil Corp. and Bharat PetroResources, has discovered oil resources in an onshore block 1 in Abu Dhabi. The joint venture had been awarded the block under Abu Dhabi's 2019 bid round. Bharat PetroResources is a wholly-owned subsidiary of Bharat Petroleium Corp. Shares of Indian Oil Corp. were trading nearly 1% higher and those of Bharat Petroleum Corp. were flat during the session.
Shares of parent and subsidiary companies Vedanta and Hindustan Zinc were trading nearly 6% and 5% higher, respectively, and continued to be the highest gainers in the Nifty 200 index. Shares of MMTC also remained as the highest gainers in the Nifty 500 index, up 9%, followed by those of Graphite India, up over 7%. Shares of Tata Elxsi fell 3% during the session after the company reported a sharp sequential decline in its net profit for the December quarter due to a substantial one-time cost incurred on account of the new labour codes. The company was the worst performer in the Nifty 200 index followed by Federal Bank, which was down over 2%. Go Digit General Insurance and Hexaware Technologies were the worst performers in the Nifty 500 index, down nearly 4% and over 3%, respectively. (Akshat Saksena)
Equity Alert: Infosys flat ahead of likely subdued Q3 earnings
MUMBAI--1026 IST--Shares of Infosys were flat ahead of the company's December quarter earnings later in the day. Shares of the company fell nearly 1% to a low of INR 1,586.50 during the session. The company is expected to report subdued earnings for the December quarter, affected by a seasonally weak quarter for information technology companies.
The company's consolidated net profit is expected to rise only 0.2% on quarter to INR 73.75 billion, much lower than the over 6% sequential growth it saw in the previous quarter. The metric is expected to rise more than 8% on year, though still lower than the 13% growth the company reported for the September quarter. The sequential growth in the company's net profit is expected to be among the slowest among its large-cap peers barring HCL Technologies and Tata Consultancy Services, which reported a decline for the December quarter.
The company's net sales are expected to grow a little over 1% on quarter to INR 451.04 billion, marking the company's slowest growth on a sequential basis since the March quarter when its revenue fell over 2%. On a yearly basis, the company's topline is expected to rise 8%, lower than the 9% growth seen by the company in the previous quarter. The weak seasonal demand and furloughs along with lower billing days are likely to impact the company's top line for the reporting quarter.
At 1010 IST, shares of Infosys were flat at INR 1,598.50 on NSE. Over 1 million shares of the company were traded on the bourse during the session so far, lower than the nearly 2 million shares traded till the same time Tuesday. Of the 19 brokerage reports on the company with Informist, 16 have a 'buy' recommendation with an average target price of INR 1,778 and three have a 'hold' recommendation on the stock. (Akshat Saksena)
Equity Alert: Indices slightly down, dragged down by fall in pharma, IT cos
MUMBAI--1021 IST--Benchmark indices traded slightly lower in early trade. Shares of public sector companies were higher in the first hour of trading, while stocks of healthcare-related companies and major information technology players dragged down the Nifty 50.
At 1010 IST, the Nifty 50 was at 25703.50 points, down 28.80 points or 0.1%. The BSE Sensex was at 83493.94 points, down 133.75 points or 0.2%. Shares of Coal India were off their intraday highs, but still traded over 2% higher. Other public sector undertakings such as Oil and Natural Gas Corp. and NTPC remained higher. A 2% rise in Axis Bank was the biggest support to the 50-stock index, while Kotak Mahindra Bank remained the biggest drag. Shares of metal companies such as Hindalco Industries, Tata Steel, and JSW Steel were up 1–2% and the Nifty Metal index rose almost 2%.
Pharmaceutical companies such as Dr. Reddys Laboratories, Sun Pharmaceutical Industries, and Cipla were down around 0.3-1.0%. Hospital operator, Max Healthcare Institute, was 0.5% higher, while Apollo Hospital fell in early trade. Among information technology majors, Tech Mahindra, Tata Consultancy Services, Wipro, and HCL Technologies were 0.5-1% lower and the Nifty IT index slumped almost 1%.
Shares of Hindustan Zinc and its parent company, Vedanta, were up 5-6%. Shares of MMTC, which is involved in international trade of various commodities like minerals, metals, and precious metals were up 9%. Jewellery retailer, Kalyan Jewellers India, were down more than 3%.
Shares of companies engaged in precious metals production and sales were likely impacted by a rise in prices of these metals. Futures contracts of silver on the Multi Commodity Exchange of India hit fresh record highs on Wednesday, tracking gains on COMEX. Prices were supported by a rise in safe-haven demand, driven by intensifying geopolitical and economic tensions, and expectations of further rate cuts by the US Federal Reserve. The price of gold continued to stay near peak levels amid geopolitical tensions and hopes of another US Federal Reserve rate cut. (Eshitva Prakash)
Equity Alert: Citi cuts Just Dial target price by 6%, maintains 'buy' call
MUMBAI--1020 IST--Broking firm Citi has maintained its 'buy' recommendation on Just Dial and cut its target price by nearly 6% to INR 1,000. The company needs to invest in growth, and meaningful earnings before interest, tax, depreciation, and amortisation growth from hereon will only be driven by operating leverage, CNBC-TV18 reported, citing the brokerage.
The company announced its December quarter earnings post market hours on Tuesday. According to the brokerage, the 6% on-year revenue growth of the company for the quarter was in line with its expectations. Citi has lowered the company's growth estimates due to continued decline in traffic, according to the CNBC-TV18 report.
At 1017 IST, shares of the company were over 1% lower at INR 724 on NSE. So far, over 135,000 shares of the company changed hands on the exchange, higher than nearly 44,000 shares traded till the same time Tuesday. The company reported a net profit of INR 1.18 billion on revenue of INR 3.06 billion for Oct-Dec.
All the six brokerage recommendations available with Informist on the company have a 'buy' recommendation with an average target price of INR 1,400. (Arundathi A R)
Equity Alert: Indices flat after lower start, select public sector cos gain
MUMBAI--0940 IST--Domestic benchmark indices were flat after a slightly lower open as information technology companies and select automobile companies witnessed modest declines. Only a minority of Nifty 50 stocks were up, holding onto thin gains. The performance of index heavyweights was mixed in the early minutes of trade. A few public sector companies were decisively higher.
At 0935 IST, the Nifty 50 was at 25740.35 points, up 8.05 and the BSE Sensex was at 83656.65 points, up 28.96 points. Eicher Motors was the worst hit constituent of the 50-stock index. Other automobile companies such as Maruti Suzuki India and Hero Motocorp were in the red. Barring Bajaj Auto, Tata Motors Passenger Vehicles, and Mahindra & Mahindra, all other constituents of the Nifty Auto index were trading lower and the index was down 0.2%. Tech Mahindra, Tata Consultancy Services, HCL Technologies, and Wipro traded lower among IT companies, while Infosys was marginally higher before its December quarter earnings later in the day.
A near 1% drop in Kotak Mahindra Bank was the biggest drag on the Nifty 50. Index heavyweights ICICI Bank, HDFC Bank, and Reliance Industries were flat to slightly lower. Meanwhile, shares of Coal India rose 3%. Other public sector enterprises such as Oil and Natural Gas Corp. and NTPC were up around 1?ch.
Among sectoral indices, the Nifty Metal index was up over 1%, with Tata Steel and Hindalco up around 1?ch. Nifty Realty was the worst hit and was down 0.7%.
Shares of Vedanta were up over 3%. The March futures contract of silver on the Multi-commodity Exchange rose to a fresh new high of INR 282,750 per kilogram. Among other stocks, Tata Elxsi was down almost 3%. The company's December quarter net profit missed the Street view slightly on one-time costs due to labour codes. (Eshitva Prakash)
Equity Alert: Indices to open flat, seen volatile on trade deal uncertainty
MUMBAI--0845 IST--Benchmark equity indices are expected to open flat Wednesday and are likely to be volatile throughout the session. Analysts are divided on whether the market will react to the top diplomats from the two countries holding a telephonic conversation late Tuesday, discussing trade and critical minerals, among others. While some see it as a positive development, others said market participants await clarity on the timeline of a trade deal between the two countries.
External Affairs Minister S. Jaishankar late Tuesday said that he concluded a "good conversation" with US Secretary of State Marco Rubio. He took to the social media platform X, saying that the two diplomats discussed trade, critical minerals, nuclear cooperation, defence, and energy and "agreed to remain in touch on these and other issues."
GIFT Nifty contracts suggest a flat opening for the Nifty 50 index on Wednesday. At 0841 IST, the GIFT Nifty's January contract was at 25752.50 points, just 20 points higher than the Nifty 50's close of 25732.30 points on Tuesday. The BSE Sensex closed at 83627.69 points on Tuesday, down 250.48 points or 0.3%. Investors are likely to take a sell-on-rise approach in the near term, and the Nifty 50 is expected to find support at 25585-25550 points and face resistance at 25900–25940 points on Wednesday, Vipin Kumaar, assistant vice president – technical and derivatives at Globe Capital Market, said.
Market participants will watch out for the Oct-Dec results of IT giant Infosys, due Wednesday. The company is expected to report subdued earnings growth in the seasonally weak December quarter due to furloughs and stagnant demand. Infosys' shares ended 0.2% higher on Tuesday at INR 1,599 on the National Stock Exchange.
In the US, benchmark indices closed lower Tuesday. US CPI for December rose 2.7% on year, largely in line with expectations, Reuters reported, citing data from the US Bureau of Labor Statistics. Asian markets were mixed in early trade Wednesday, with Japan's Nikkei 225 being the top gainer. (Arundathi A R)
Equity Alert: Asian indices largely higher; Nikkei hits fresh highs
MUMBAI--0822 IST--Equity indices in Asia were largely higher on Wednesday. The only indices in the region that were down were the S&P/ASX 200 Index, the FTSE Singapore Straits Times index, and South Korea's Kospi. The Kospi fell after reaching a fresh high during the session. The Nikkei 225 Day index continues to gain, hitting a fresh high as well, as Japan faces a weaker yen amid reports of snap elections in the country.
The Nikkei index and the Topix index hit fresh new highs as the yen declined past the 159 per dollar mark, its weakest since July 2024, prompting an intervention from Japanese authorities, according to a CNBC report. The country is also expected to witness snap elections in February and it would be the first time Prime Minister Sanae Takaichi would face Japanese voters in an election.
The KOSPI hit fresh highs during the session before trading lower than the previous close. Shares of Samsung Electronics Co. and SK Hynix started the session lower but eventually gained during the early part of the session, according to a report by The Chosun Daily. Shares of Samsung were still trading higher, up over 1%, but those of SK Hynix could not maintain momentum and were trading nearly 1% lower. Shares of shipbuilding and defence-related stocks which were performing well recently have started to underperform, The Chosun Daily said. Shares of Hanwha Ocean Co. declined nearly 6% during the session along with those of Hanwha Aerospace Co. and Hyundai Rotem Co, which were down over 2% and nearly 4%, respectively.
Following are the levels of key Asian indices at 0818 IST:
|
INDEX |
LEVEL |
CHANGE IN % |
|
CSI 300 Index |
4806.93 | 0.96 |
|
Hang Seng Index |
26983.85 | 0.50 |
|
KOSPI |
4683.39 | (-)0.20 |
|
Nikkei 225 Day |
54419.01 | 1.62 |
|
TOPIX FIRST SECTION |
3630.29 | 0.87 |
|
FTSE Singapore Straits Times |
4798.4 | (-)0.18 |
|
S&P/ASX 200 Index |
8796.60 | (-)0.14 |
(Akshat Saksena)
Equity Alert: US indices end lower; S&P 500, Dow Jones snap 3-day winning run
MUMBAI--0739 IST--Benchmark equity Indices in the US ended lower on Tuesday. The S&P 500 and the Dow Jones Industrial Average indices fell after ending higher for three consecutive sessions and the NASDAQ Composite index fell after rising for two sessions. Investors analysed the earnings of JPMorgan Chase & Co., as well as US CPI inflation data.
Shares of JPMorgan Chase fell around 4% though the company's quarterly results beat estimates for its top line and bottom line, CNBC reported. Its investment banking fees fell during the quarter, missing estimates. Chief Financial Officer Jeremy Barnum said JPMorgan Chase expects US President Donald Trump's proposed cap on credit card interest rates to have a negative impact on the country's consumers and its economy, according to a report by Reuters. This led to fall in other financial stocks, with shares of Visa and Mastercard falling. Both stocks fell around 4?ch, and shares of Goldman Sachs Group fell over 1% as well. Trump's call for a cap on credit card interest rates had come with a number of other demands, such as defence companies should not be allowed to issue dividends or stock buybacks, and that large institutional investors should be banned from buying more single-family homes, according to CNBC.
US CPI rose 0.3% in December, led by a 0.4% increase in the cost of shelter, Reuters said in a report. The distortions caused by the government shutdown, which had artificially lowered interest rates in November, unwound and cemented expectations that the US Federal Reserve would not change interest rates this month.
Shares of Delta Air Lines fell over 2% as the midpoint of its 2026 profit expectations fell short of analysts' estimates, Reuters said.
Meanwhile, Trump cancelled all his meetings with Iranian officials and promised protestors that "help was on its way", as widespread protests continue in the West Asian country, leading to a crackdown by the authorities. The US president had also recently announced that any country in business with Iran would be subject to a 25% tariff on any and all business done with the US.
Trump also called US Federal Reserve Chair Jerome Powell either "incompetent" or "crooked", CNBC reported. "He's billions of dollars over budget," Trump said in reference to the renovation project of the central bank's headquarters in Washington. This was after Powell said he was under criminal investigation, and concerns over the independence of the US central bank continue to grow.
Following are the closing levels of US indices Tuesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6963.74 |
(-)0.19 |
|
NASDAQ Composite |
23709.87 |
(-)0.1 |
|
Dow Jones Industrial Average |
49191.99 |
(-)0.8 |
(Akshat Saksena)
US$1 = INR 90.21
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Rajeev Pai
All prices from National Stock Exchange, unless otherwise specified.
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