Equity Alert
Headline indices end lower Frid, fall for 5th straight week
This story was originally published at 16:42 IST on 11 September 2026
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Equity Alert: Headline indices end lower Fri, fall for 5th straight week
MUMBAI--1627 IST--Benchmark stock indices ended slightly lower Friday, as gains in select financial counters helped erase most of the early losses. Over the week, the indices shed over 2?ch and closed in the red for fifth consecutive week. Both the indices fell in four of the five sessions during the week. High crude oil prices kept the moves in headline indices subdued.
At the end of the continuous trading session at 1515 IST, the indices were mixed. The Nifty 50 was down 0.2% at 23435.10 points and the BSE Sensex was at 74914.06 points, flat from Thursday. After the closing auction session, the Nifty 50 ended 0.3% lower at 23398.10 and the Sensex was down 0.2% at 74781.76. On the National Stock Exchange, the advance-decline improved considerably from early trade though laggards beat the gainers. On Friday, out of the 3,638 stocks traded, 2,042 fell while 1,476 advanced.
Small-cap indices underperformed the benchmarks, falling 0.5-0.6?ch, while mid-cap indices were largely in line with the headline indices. The Nifty Midcap 50 managed to end with gains. YES Bank, Indus Towers, and One 97 Communications helped limit the losses in the index. One 97 Communications is a heavyweight in the index.
In the Nifty 50, 12 stocks gained and only Axis Bank remained unchanged from Thursday. HDFC Bank, which was among the key drags on the index in early trade, posted a sharp recovery and closed a tad over 2% higher. Dr. Reddy's Laboratories closely followed, and closed 2% higher.
On the sectoral front, Nifty Realty was the worst hit, down nearly 3%. All its constituents, save Phoenix Mills, fell. Godrej Properties fell nearly 7%, and Lodha Developers and Aditya Birla Real Estate fell 4?ch. The real estate index was followed by the Nifty Metal index, which ended over 2% lower.
Shares of metal companies declined as prices of key commodities fell in the previous session. Aluminium prices were over 2% lower on the London Metal Exchange Thursday, and copper prices fell over 5%. All stocks part of the Nifty Metal closed lower. Welspun Corp. was down 4%, Hindalco Industries and National Aluminium Co. over 3% , and Hindustan Zinc and JSW Steel slid nearly 3?ch. (Ruchira Kagita)
Equity Alert: Nifty 50 Sept ends at premium of 100.90 points to spot index
MUMBAI--1555 IST--The September futures contract of the Nifty 50 closed at a premium of 100.90 points to the spot index Friday. Open interest in the contract fell 1.8% from Thursday to just over 18 million, according to provisional data.
--Nifty 50 closed at 23398.10 points, down 79.70 points or 0.3% vs Thursday
--Nifty 50 September closed at 23499.00 points, up 15 points or 0.1% vs Thursday
Nifty 50 options, expiring Tuesday, with maximum change in open interest:
Call: 23800, Put: 23300
Nifty 50 options, expiring Tuesday, with maximum open interest:
Call: 24000, Put: 23300
(Eshitva Prakash)
Equity Alert: Pine Labs shares jump to four-month high amid large deals
MUMBAI--1545 IST--Shares of Pine Labs ended 17% higher at INR 202.17 apiece on the National Stock Exchange amid a surge in volumes and two large deals. Shares of the company ended at a four-month-high. At 1213 IST, a large buy trade was executed at INR 188.78 per share for 1.09 million shares. At 1501 IST, a sell trade was executed at INR 201.29 per share for 1.58 million shares. Cumulatively, the two deals involved trade of around 2.7 million shares.
Nearly 277 million shares changed hands on the exchange, 18 times the volume traded on the exchange Thursday and 12 times the three-month average volume.
The rise in the shares was supported by positive commentary from the company's chief business officer Thursday. The company is likely to see a favourable September and December quarter as the festive season begins in August, Kush Mehra, chief business officer, told CNBC-TV18. Additionally, a report by CNBC-TV 18 said the Reserve Bank of India has deferred the Sept. 15 deadline for payment aggregators to complete re-know your customer, who will get an extension of around six months from Sept. 15. (Deesha Jadhav)
Equity Alert: Europe mkts up as crude oil off highs; travel, luxury shrs rise
MUMBAI--1530 IST--Major stock indices in Europe were up Friday as oil prices pulled back from intraday highs. The pan-European index, Stoxx Europe 600, was marginally higher as luxury, banking, and travel stocks led gains in the region, while software stocks fell.
The Stoxx Europe Luxury 10 index gained nearly 1%. Shares of Moncler and Ferrari were up nearly 2?ch. Travel stocks in the region were also up and the Stoxx Europe 600 Travel & Leisure rose nearly 1%. Germany's DAX Performance index was up nearly 1% as large industrial group stocks were up. Shares of Airbus were up more than 1%.
At 1523 IST, the Novemeber futures of Brent Crude oil on the Intercontinental Exchange traded nearly 3% lower at INR 104.19 per barrel. While the contract was over 5% lower than its intraday highs, its value has risen more than 15% this month. "Oil (price) resilience reflects a market now repricing both the duration and severity of the conflict, along with a clearer recognition of the mounting threat to regional supply," Dow Jones Newswire reported, citing financial services firm ING.
Thursday, the European Central Bank raised interest rates to 2.5% to control inflation driven by high energy costs due to the US-Iran war. Inflation in the eurozone was at 3% in August, more than the central bank's target of 2%. The central bank raised its 2026 economic growth projection to 0.9% from 0.8%. The German 10-year bond yield fell nearly 1 basis point to 3.5196%, while the yield on the UK's 10-year gilts fell nearly 4 basis points to 5.334%.
Following are the levels of key indices in the region at 1530 IST:
|
Index |
Level |
Change in % |
|
FTSE 100 Index |
10653.00 | 0.4 |
|
CAC 40 |
8158.44 | 0.5 |
|
MIB INDEX |
52161.50 | 0.7 |
|
DAX PERFORMANCE-INDEX |
25505.29 | 0.6 |
|
SLI |
2225.50 | 0.6 |
(Vidhi Thacker)
Equity Alert: Benchmarks off lows; select bank stocks rise, HDFC Bank up 1%
MUMBAI--1440 IST--The benchmark indices came slighty off lows supported by gains in select banking and financial services stocks after Reserve Bank of India Governor Sanjay Malhotra's positive comments on foreign currency non-resident (banks) deposits. While the sharp fall in metal stocks continued to keep the Nifty 50 in the red, a rise in index heavyweights HDFC Bank and ICICI Bank pushed the index slightly off lows. At 1436 IST, the Nifty 50 was at 23432.45, down 0.2%. The BSE Sensex was down 0.1% at 74857.60 points.
Metal stocks such as Tata Steel, Hindalco Industries, and JSW Steel were down over 2% and continued to drag the market lower. State Bank of India and Coal India also extended their fall and were down over 1?ch. Reliance Industries was down 1.2%. Dr. Reddy's Laboratories retreated from an earlier high but remained the top gainer in the Nifty 50, up 2.5% against 3.4?rlier, followed by HDFC Bank, HCL Technologies, and Tech Mahindra, which were up 1-1.6%. ICICI Bank turned green and was up 0.2%.
The broader market indices remained weak; small-cap indices were down 0.5–0.6% while mid-cap indices were down 0.3–0.4%. Aditya Birla Real Estate was the biggest laggard in the small-cap 250 index, down over 4%. Among sectoral indices, Nifty Realty continued to lag and was down over 3%. All the stocks in the Nifty Realty, except Phoenix Mills, were in the red, down 1-8%. Godrej Properties was the biggest loser, down nearly 8%. Nifty Metal followed and was down around 2%. Nifty Bank and Nifty Private Bank recovered from their early fall and were up 0.1% and 0.4%, respectively.
YES Bank rallied 6.5% and was the top gainer in the Nifty 200. Cochin Shipyard continued to fall and was the biggest laggard in the Nifty 200. It was down more than 9% at an over one-month low. Pine Labs rose 14% to reach a four-month high. The Nifty 200 and Nifty 500 were down 0.4?ch. (Ayush Jaiswal)
Equity Alert: Asian indices end down as bond yields rise; most fall on week
MUMBAI--1410 IST--Major Asian indices ended lower as rising US treasury bond yields weighed on market sentiment. Most indices were down on a weekly basis, with Hong Kong's Hang Seng and Australia's S&P/ASX 200 down more than 3%. The November futures contract of Brent crude oil remained high as movement of vessels in the Strait of Hormuz was restricted, further dampening the mood of investors. Japan's Nikkei 225 and South Korea's Kospi were the worst hit, down nearly 2?ch.
US President Donald Trump's comments about the war in West Asia not lasting beyond the November mid-term elections did not help market sentiment. US treasury yields hit multi-year highs, with the 10-year treasury yield settling at 4.59% Friday, up around 12 basis points from Thursday. The 30-year US treasury yield rose around 9%, and it settled at 5.37%, a 19-year-high. Further, investors await the Bank of Japan's decision on the interest rate. Markets expect the central bank to hike the rate to 1.25% at the Sept. 18 meeting and then to 1.75% in 2027, according to a Reuters poll.
In Japan, heavyweights in the key 225-stock index fell, with Advantest Corp. and SoftBank Group Corp. down nearly 7% and 4%, respectively. Tokyo Electron, Murata Manufacturing Co. and Disco Corp. fell nearly 3?ch. Meanwhile in South Korea, Kospi heavyweights Samsung Electronics and SK Hynix closed nearly 4% and over 2% lower, respectively.
On a weekly basis, the Nikkei 225 closed lower for the second time in a row, shedding 4%. China's CSI 300 extended its selloff to a fifth week, down 4% in this period. The Kospi, on the other hand, snapped its three-week losing run to end over 3% higher.
Following are the levels of key indices in the region at 1335 IST:
|
Index |
Level |
Change in % |
|
Nikkei 225 Day |
64011.34 | (-)1.9 |
|
TOPIX FIRST SECTION |
4028.30 | (-)0.7 |
|
S&P/ASX 200 Index |
8741.20 | (-)0.9 |
|
KOSPI Index |
6909.91 | (-)1.8 |
|
Hang Seng Index |
24811.28 | (-)0.6 |
|
CSI 300 Index |
4510.16 | (-)0.8 |
|
FTSE Singapore Strait Times |
5689.28 | (-)0.01 |
(Vidhi Thacker)
Equity Alert: Indices off lows on support from select financial, IT stocks
MUMBAI--1300 IST--Benchmark stock indices recovered slightly but remained down as select financial services stocks came off lows. Information technology stocks also continued to lend support. Indices were dragged down by losses in automobile, metal, and select healthcare stocks. Dr. Reddys Laboratories reversed losses from early trade and was the top gainer in the Nifty 50, gaining almost 3%. At 1231 IST, the Nifty 50 was at 23341.30, down 136.50 points or 0.6%, and the BSE Sensex was at 74509.27, down 393.32 points or 0.5%.
Shares of HDFC Life Insurance and Axis Bank were up marginally after falling earlier in the day. ICICI Bank came off lows, while Kotak Mahindra Bank turned flat from earlier losses. Automobile giant Tata Motors Passenger Vehicles recovered and was up nearly 1%. Information technology stocks remained higher and provided support to the indices. Shares of Tech Mahindra and HCL Technologies rose around 1?ch, while Tata Consultancy Services, Infosys, and Wipro were up nearly 1?ch. Select healthcare stocks were up after falling in early trade, with Apollo Hospitals Enterprises gaining marginally.
Some metal stocks remained down, with shares of Hindalco Industries and Tata Steel falling nearly 3?ch. Its peer JSW Steel was down over 2%. Most automobile stocks were down in the 50-stock index. Maruti Suzuki India and Eicher Motors were down over 1?ch, while shares of Bajaj Auto and Mahindra & Mahindra fell 0.3-0.8%.
Indus Towers was up almost 5% and was the top gainer in the Nifty 200 index. Shares of Cochin Shipyard fell more than 8% to be the worst performer in both the Nifty 200 and Nifty 500 indices. Pine Labs was the top gainer in the Nifty 500 and rose nearly 12%. Its shares hit a four-month-high after its chief business officer and president Kush Mehra told CNBC-TV18 that he expects a promising second and third quarter for the company as the festive season kicks off in August. The broader markets remained lower with all indices falling 0.6–0.7%. (Vidhi Thacker)
Equity Alert: Titan sees rise in buyers, store additions aid jewellery ops
MUMBAI--1200 IST--Sustained industry formalisation, growth in buyers, and continued store expansion are expected to support Titan's long-term growth opportunity, the company said in an interaction with Motilal Oswal Financial Services. The brokerage reiterated its "buy" rating with a target price of INR 6,000 after meeting with the company's Chief Finance Officer, Ashok Sonthalia. At 1112 IST, shares of the company traded slightly lower from Thursday at INR 5,000 apiece on the National Stock Exchange. Shares of the company have climbed nearly 24% since the start of 2026.
The company's market share in the jewellery market is expected to increase to 11% by financial year 2029–30 (Apr-Mar) from 8.5% in FY26. In the same period, the company plans to expand its network to 1,400 stores from 824 stores in FY26. The company expects its domestic jewellery business' revenue to grow 20% at a compounded annual rate over FY26-30. It sees the business' earnings before interest and tax to rise twofold in this period.
"Management indicated that gold-price inflation is largely passed on to consumers. It further indicated that while coin demand has moderated slightly, this has not materially altered the broader jewelry demand outlook," Motilal Oswal said in a report. A correction in gold prices could potentially further improve its margin, the company said. Demand in the jewellery industry remains healthy and is similar to that witnessed in the June quarter and going ahead, the festive season will further strengthen demand. The company is also positive on the long-term diamond opportunities, and it is not very concerned about short-term price shifts of the precious stone.
For Tanishq, the company expects to expand into 150 cities, with Tamil Nadu providing significant growth opportunity. For CaratLane, the company expects revenue to grow 2.3 times and EBIT 2.5 times by FY30. The company expects overseas sales from its Tanishq and Mia businesses to grow 2.5 times and EBIT is seen rising 5.5 times. Titan's superior competitive positioning helps it to outshine its peers, Motilal Oswal said.
Motilal Oswal estimates the company's total revenue to grow 17% at a compounded annual growth rate between FY26 and FY30 while its earnings before interest, taxes, depreciation, and amortisation are expected to increase 21% over the same period. (Deesha Jadhav)
Equity Alert: Nifty Realty dn for 6th day, at 2-mo low; Godrej Prop falls 7%
MUMBAI--1155 IST--The Nifty Realty index continued its decline for a sixth straight session Friday and fell to a two-month low of 832.80 points. All its constituents were trading lower, with Godrej Properties down 7%, falling the most among them. The stock fell for the fifth time in the past six sessions.
"Elevated crude oil prices are a major threat to inflation- and interest-rate-sensitive stocks and sectors like Realty," Vipin Kumar, assistant vice-president of research at Globe Capital Market, said. Brent crude oil prices, impacted by the escalating war in West Asia, surged to a nearly four-month high of around $110 a barrel.
"Technically, the Nifty Realty Index has breached its two-month-long congestion zone to the downside, leading to a sharp fall. Immediate price support for Nifty Realty index is around 820-800 levels," Kumar of Globe Capital said.
At 1136 IST, the Nifty Realty was nearly 4% lower. Lodha Developers fell over 6%, while Prestige Estates Projects and Aditya Birla Real Estate were down around 4?ch. DLF, Oberoi Realty, and Anant Raj shed over 3?ch.
Shares of Godrej Properties fell to a nearly three-month low of INR 1,733.10 after reports said the company would face an estimated financial impact of around INR 700 million due to settlement of a dispute regarding its Godrej Air project in Gurugram with Orris Infrastructure. (Arundathi A R)
Equity Alert: Mkts tad off lows as select stocks rise; IT cos remain higher
MUMBAI--1120 IST--Benchmark indices came slightly off their initial intraday lows, supported by index heavyweight Bharti Airtel and gains in other select stocks. Information technology stocks remained in the green, while metals and mining stocks continued as major laggards in the Nifty 50 index on higher crude oil prices. All financial services stocks traded lower in the index. At 1053 IST, the Nifty 50 fell 0.8% to 23283.10 points and the BSE Sensex also declined 0.8% to 74323.18 points.
In the 50-stock index, 10 constituents were trading higher from the earlier count of eight. Nestle India, ITC, and Dr. Reddy's Laboratories erased their earlier losses and turned 0.5-1% higher. The heavyweight stock Bharti Airtel was up nearly 0.5% and was lending most support to the Nifty 50 index. Information technology stocks such as Tech Mahindra, HCL Technologies, Infosys, and Wipro were 0.2–1.4% higher.
Metals and mining company Hindalco Industries was the worst hit stock in the 50-stock index, down 3%. Its peers, Tata Steel and JSW Steel, were 2.4% and 1.7% lower respectively. The index-heavyweights HDFC Bank and Reliance Industries weighed index down, trading around 1% lower each. However, their heavyweight peer ICICI Bank pared losses and was down only 0.4%. Bajaj Finance, Shriram Finance, and Bajaj Finserv were around 2% lower each.
The broader markets were in the red with the small-cap and mid-cap indices falling nearly 1?ch. Most sectoral indices were also in the red, with Nifty Realty down 4% and Nifty Metal down over 2%. Nifty IT, Nifty Media, and Nifty FMCG were the only sectoral indices in the green and were 0.1-0.3% higher. The India VIX was 5% up, indicating negative sentiment among investors.
Shares of HEG hit a 5% lower circuit for the second consecutive session after hitting 5% upper circuit at INR 271.50 apiece Wednesday. The 5% rise in shares on Wednesday was influenced by a graphite electrodes price hike by a US-based manufacturer. Real estate stocks such as Godrej Properties and Lodha Developers were the top underperformers in the Nifty 200 and Nifty 500 indices, down 6-7%. (Utthara E. S.)
Equity Alert: Cochin Shipyard falls 8%; co indicates lower EBITDA margin
MUMBAI--1118 IST--Shares of Cochin Shipyard fell over 8% to the lowest level in more than a month at INR 1,392.80. The stock fell after the company's management indicated lower earnings before interest, tax, depreciation, and amortisation margin over the next two years. At 1059 IST, Cochin Shipyard's shares were at INR 1,397.60, down over 8%. So far, 2.4 million shares of the company have been traded on Friday, almost double the three-month daily average volume of 1.3 million.
Cochin Shipyard is aiming for an EBITDA margin of 14% for the next two financial years, the company's management said in an analyst conference call Thursday. According to a calculation by Informist, this indicates a fall of over two percentage points from the 16.2?ITDA margin in the financial year 2025-26 (Apr-Mar).
The company expects its ship-building EBITDA margin at 10% to 12%, and that for ship repair at around 22% to 24%. It also expects to see 12-15% revenue from the current order book in the next two years, according to the management. Currently, the company has an unexecuted order book of INR 222 billion.
Post the call, Antique Stock Broking retained its 'hold' recommendation for Cochin Shipyard considering lower-than-expected EBITDA margin and high valuations. It maintained the target price at INR 1,671 per share. "...valuations continue to price in a more constructive execution outlook than what the current quarterly run-rate suggests, and remain at a premium to peers such as MDL (Mazagaon Dock Shipbuilders)," it said. While the company has guided for 14?ITDA margin, Antique expects the EBITDA margin at 18.1% for FY27 and 19.5% for FY28. (Ayush Jaiswal)
Equity Alert: Benchmark indices open 1% lower each, Nifty 50 hits 3-mo low
MUMBAI--0950 IST--Benchmark equity indices opened sharply lower, as Brent Crude oil futures surged to over $108 per barrel. Both the Nifty 50 and the Sensex opened a percentage lower each. The Nifty 50 opened below its key support of 23300 for the first time since Jun. 11. The index touched a three-month low of 23231.40 points soon after trading started.
In the Nifty 50, only eight stocks were trading with gains. Index heavyweights HDFC Bank and Reliance Industries were the key drags on the index, falling around 1?ch. Meanwhile, Bharti Airtel and Infosys lent support to the index. At 0951 IST, the Nifty 50 was at 23247.10 points, down 230.70 points or 1% and the BSE Sensex was also down 1% at 74224.70 points. The Nifty Realty was the worst hit sectoral index, down 4%. All constituents of the index fell, with shares of Godrej Properties and Lodha Developers down around 6?ch, while Prestige Estates Projects shed nearly 5%.
Broader market indices were in tandem with the benchmarks, opening over 1% lower each. Meanwhile, India VIX rose over 6% to around 12.56 levels. The volatility index has not witnessed these levels since August.
On the back of elevated crude oil prices, upstream oil company Oil and Natural Gas Corp. gained nearly 1%. Its peer company, Oil India, opened higher but erased its gains later. On the other hand, oil marketing companies Hindustan Petroleum Corp. and Bharat Petroleum Corp. lost over 3% and 2%, respectively. Information technology stocks tried to stage a recovery. The Nifty IT index opened higher after falling for seven consecutive sessions but was moving between gains and losses.
On the NSE, the advance-decline ratio was tilted towards declines. Around 78% of the 3,037 stocks traded declined. Only 574 advanced, while 79 were unchanged from the previous session. (Ruchira Kagita)
Equity Alert: Asian mkts fall on rise in crude oil; Nikkei, Kospi worst hit
MUMBAI--0826 IST--Major Asian indices were down Friday as Brent crude oil futures crossed $109 per barrel after Iran-backed Houthis took control of Yemen's port city of Mocha Thursday. Japan's Nikkei 225 and South Korea's Kospi were hit hardest in the region, falling nearly 3% and 2%, respectively. Government bond yields were up in the region.
Japan's 10-year government bond yield rose 6 basis points to 2.97%, and Australia's three-year government bond yield rose 10 basis points to a 15-year high of 5.047%.
Among shares, chip makers led declines in Japan, with shares of Koixia Holdings and Advantest falling more than 7?ch. Nikkei heavyweight SoftBank Group was down more than 5%. Kospi heavyweights Samsung Electronics and SK Hynix fell around 4?ch, dragging down the index.
Chinese chipmaker Enflame debuted on the stock market Friday, and its shares were up around 206%. The company saw huge demand in its initial offering and is considered one of China's "four little dragons" of artificial intelligence chip stocks. Moore Threads, MetaX Integrated Circuits, and Shanghai Biren Technology are the other companies in this pack. China's CSI 300 and Hong Kong's Hang Seng Index were up 1% and nearly 2% respectively.
On the macroeconomic front, Japan's producer price index rose 7.6% on year in August, down from 7.7% a month earlier, but higher than 7.4% in a Reuters poll. Analysts expect the Bank of Japan to hike interest rates to 1.25% next week and then to 1.75% in the second quarter of 2027, Reuters reported.
The following are the levels of key indices in the region at 0755 IST:
|
Index |
Level |
Change in % |
|
Nikkei 225 Day |
63452.79 | (-)2.8 |
|
TOPIX FIRST SECTION |
4008.83 | (-)1.1 |
|
S&P/ASX 200 Index |
8701.60 | (-)1.3 |
|
KOSPI Index |
6863.19 | (-)2.4 |
|
Hang Seng Index |
24678.84 | (-)1.1 |
|
CSI 300 Index |
4476.52 | (-)1.6 |
|
FTSE Singapore Strait Times |
5674.04 | (-)0.3 |
(Vidhi Thacker)
Equity Alert: To open lower as oil prices touch near four-month high
MUMBAI--0825 IST--Domestic benchmark indices are expected to open lower Friday as the escalating war in West Asia pushed Brent crude oil prices to a nearly four-month high of $109 a barrel. GIFT Nifty's September futures contract also suggested a lower opening for the domestic benchmarks. Most Asian equity indices were lower in early trade Friday.
US President Donald Trump said Thursday that he does not regret the ongoing Iran war despite the impact the conflict may have on the November US midterm elections, according to a Mint report. "I don't believe in the word 'regret,'" Trump told Fox News, according to the report. "You can always question yourself a little bit. If I had it to do again, I would do exactly as I did," he added.
At 0819 IST, the November delivery of Brent crude oil was marginally higher from its previous close at $107.87 a barrel on the Intercontinental Exchange. In a week, the crude oil futures contract gained 12% amid the escalation in the war in West Asia. Iran-backed Houthis have seized the Red Sea city of Mocha Thursday, expanding control over the strategic Bab al-Mandeb Strait, one of the world's most important trade routes, according to reports.
With crude oil prices surging, Treasury yields also reached multi-year highs Thursday, raising the stakes for next week's Federal Reserve meeting, according to Dow Jones Newswires. The benchmark 10-year yield rose 0.104 percentage points to 4.943%, its highest level since October 2023.
At 0820 IST, the September futures contract of the GIFT Nifty was largely flat from its previous close at 23333.50. This was nearly 145 points lower than the Nifty 50's Thursday close of 23477.80, indicating a fall in the benchmark index Friday. "The benchmark Nifty (50) index settled on a flat note after a lacklustre trading session in which neither bulls nor bears were able to drive the market in their direction," Vipin Kumar, assistant vice president of research at Globe Capital Market, said. "Looking ahead, a bounce toward the 23600–23650 spot range would attract fresh selling interest among traders as long as the index trades below the 23800 spot level. Downside support is positioned around the 23200–23000 spot levels," he said.
Among Asian equity indices, Japan's Nikkei 225 was hit hardest, down nearly 3%. South Korea's KOSPI was also down more than 2%. All three major US indices closed nearly 1% lower on Thursday. (Arundathi A R)
Equity Alert: US indices end lower on high crude oil prices, PPI data
MUMBAI--0735 IST--Major US indices ended lower Thursday after Brent crude oil futures crossed $107 per barrel and the US producer price index for August rose 0.4% on month and 5.4% on year. The annualised rise in inflation was slightly warmer than expectations, increasing the odds of the US Federal Reserve hiking interest rates this month. Investors now await the consumer inflation print due Friday. All three major US indices ended nearly 1% lower Thursday, falling for the fourth consecutive day.
"This report (PPI) points to cost increases in the pipeline and will support the case of those on the committee who want to hike rates now," Carl Weinberg, chief economist at High Frequency Economics, was quoted as saying by Reuters.
US Treasury yields were up, with the 10-year Treasury yield gaining 12 basis points and settling at 4.95%. The Treasury Department completed a $5.19 billion buyback of the $6 billion in long-term bonds it had announced to manage rising yields as energy prices keep climbing due to the US-Iran war.
On Wall Street, heavyweight chip stocks fell. Nvidia and Micron Technologies closed more than 2% and nearly 5% lower, respectively. Apple gained nearly 4% a day after it launched new products. Volume on the exchanges was up, with 15.1 billion shares traded Thursday, compared to an average of 14.9 billion shares in the past 20 sessions, a Reuters report said.
Following are the closing levels of key indices in the region:
|
Index |
Level |
Change in % |
|
Dow Jones Industrial Average |
52064.10 | (-)0.6 |
|
NASDAQ Composite |
26081.73 | (-)0.7 |
|
S&P 500 |
7591.70 | (-)0.6 |
(Vidhi Thacker)
US$1 = INR 95.55
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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