Equity Alert
Vedanta rises 2%, hits all-time high; Kotak ups rating to 'buy'
This story was originally published at 13:06 IST on 17 December 2025
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Equity Alert: Vedanta rises 2%, hits all-time high; Kotak ups rating to 'buy'
MUMBAI--1233 IST--Shares of Vedanta rose almost 2% to hit an all-time high of INR 580.45 Wednesday. The stock was up for the seventh straight session and has gained 13.5% during this period. Broking firm Kotak Institutional Equities upgraded its rating on the stock to 'buy' from 'add' and raised its target price over 18% to INR 650 per share, CNBC-TV 18 said in its report. Kotak's upgrade of the mining conglomerate company was followed by the National Company Law Tribunal's approval for the company's demerger scheme on Tuesday.
"Vedanta has secured a much-delayed NCLT approval for its demerger and appears on track to conclude the restructuring by the end of financial year 2026," CNBC-TV 18 said, quoting the brokerage. Buoyant commodity prices benefited Vedanta with multiple growth projections in its aluminium and power segments commissioning over 2025-26 (Apr-Mar) to FY27, Kotak said. The company's earnings before interest, tax, depreciation, and amortisation and earnings per share are estimated to grow at a compound annual growth rate of 17% and 24%, respectively, over FY25 to FY28. This would be led by higher volumes and strong commodity prices, according to the CNBC-TV 18 report.
Debt concerns of its parent company, Vedanta Resources, are well behind and its 'bull-case scenario' on spot commodity prices projected a 10% higher EBITDA and a price target of INR 770 per share in FY28 financials, CNBC-TV 18 reported, quoting Kotak.
At 1215 IST, shares of the company traded marginally higher at INR 572.85 on the National Stock Exchange. Over 19 million shares of the company have changed hands on the NSE so far Wednesday, higher than the 6 million shares traded till the same time Tuesday. Of the eight brokerage recommendations available with Informist on the company, six have a 'buy' rating with an average target price of INR 602. One brokerage has a 'hold' rating and the remaining one has a 'sell' rating. (Arundathi A R)
Equity Alert: Indices fall more; HDFC Bank, ICICI Bank slide 1%
MUMBAI--1232 IST--Benchmark indices fell further and the Nifty 50 moved in a range of over 100 points, breaching the 25800 support level. Index heavyweight HDFC Bank and ICICI Bank fell more than 1% and were major drags on the 50-stock index, while Shriram Finance, Axis Bank, and State Bank of India traded higher, helping limit the losses.
At 1230 IST, the Nifty 50 index was at 25786.55 points, down 73.10 points or 0.3%. The index fell to a low of 25785 points. The BSE Sensex was at 84434.48 points, down 246.17 points or 0.3%. The Nifty PSU Bank index rose 1.3% and the Nifty Metal index was up 0.4%, while the Nifty Consumer Durables and the Nifty Media index dropped around 1?ch. HDFC Life Insurance, SBI Life Insurance, and Max Healthcare Institute were the worst hit constituents of the 50-stock index, down 1-3%.
Most defence stocks were down and the Nifty India Defence index fell for the third consecutive session. Shares of MTAR Technologies, Paras Defence and Space Technologies, and Data Patterns (India) fell 2–3%. Akzo Nobel India, Indian Overseas Bank, HBL Engineering were the biggest decliners among Nifty 500 constituents and were down 4–12%.
Reliance Infrastructure and Reliance Power rose 5?ch while Kirloskar Oil Engines was up 4%, the three top gainers in the 500-stock index. In the Nifty 200 index, Indraprastha Gas continued to be the highest gainer, with its shares up more than 6%. Shares of Polycab India were the hardest hit in the 200-stock index and were down 3.5%.
Two companies debuted on the National Stock Exchange Wednesday. Nephrocare Health Services listed at INR 490, a premium of 7% to the issue price of INR 460. Shares of the healthcare services company were trading over 3% higher at INR 475.15 on the bourse. Meanwhile, Park Medi World listed at INR 158.80, a discount of 2% to the issue price of INR 162. Shares of the company were trading marginally lower. (Eshitva Prakash)
Equity Alert: Meesho up 20%; UBS initiates coverage with 'buy' rating
MUMBAI--1205 IST--Shares of Meesho hit the upper band and rose 20% to an intraday high of INR 216.34, up for the third consecutive session. The stock has risen 31% during this period. Broking firm UBS has initiated a 'buy' rating on the stock with a target price of INR 220 per share.
At 1201 IST, trading in the stock was halted on NSE. Nearly 180 million shares changed hands on the exchange, higher than the 123.4 million shares traded till the same time Tuesday. The stock of the e-commerce company was listed on exchanges on Dec. 10 and is trading at a premium of 95% to its issue price of INR 111.
Meesho has a negative working capital business model and ensures positive cash flows unlike other internet companies, UBS was cited by CNBC-TV18 as saying. The net merchandise value of the company is estimated to grow at a compounded annual rate of 30% over 2024-25 (Apr-Mar) and FY30, UBS said, adding that the growth of the company will be driven by a rise in average transacting users to 518 million from 199 million. The order frequency of the company is expected to increase to 14.7 times from 9.2 times, according to the brokerage. (Adhithya Aji)
Equity Alert: Emkay Global ups RBL Bank's target price by 7%, retains 'buy'
MUMBAI--1125 IST--Emkay Global Financial Services has raised the target price for RBL Bank by 7% to INR 375 and retained a 'buy' rating on the stock. RBL Bank's management had indicated that regulatory approvals for the proposed strategic investment by UAE-based Emirates NBD Bank to acquire majority stake in the Indian bank were expected by the middle of the March quarter of 2025-26 (Apr-Mar), the brokerage said in a report after interacting with R. Subramaniakumar, the managing director and chief executive officer of RBL Bank. The brokerage has, however, not factored in the business or return on assets from the deal in the target price, as the deal is yet to be completed and has upside potential, the brokerage said.
The management believes that better cost of funds due to a higher share of equity funding, improved debt rating, and access to the flow of funds from non-resident Indians should allow the bank to strategically shift its loan portfolio towards mortgages and corporates. This would lead to a better return on assets and a return on risk-weighted assets for the bank. The brokerage expects the bank's cost of funds to fall to 6.0% in FY26, 5.6% in FY27, and 5.2% in FY28, from 6.3% in FY25.
After receiving the approval, Emirates NBD could launch an open offer of INR 280 per share, which will be followed by a preference capital infusion, the report said. Until the deal receives the required regulatory approvals, the bank will refrain from outlining any detailed strategy with regard to building scale cross-bank synergies, or re-orientation of its current product portfolio, the report from Emkay said. However, the management does believe that the deal will boost the bank's growth trajectory through organic and inorganic routes and strengthen its liability-asset mix, which would help accelerate the bank's return on equity in the long run.
The recent rate cuts as well as a potential rate cut in the December quarter could keep margins under pressure for longer than expected, according to the brokerage. This should push back the quarterly return on assets run-rate of 1?ter the December quarter. However, lower cost of funds could in turn expand the bank's margin and its return on assets in the long term by at least 20-40 basis point over FY27 to FY28, the brokerage said.
The bank reported a strong credit-growth bounce-back in the September quarter, which it hopes to continue on the strong underlying growth impulse seen after the goods and services tax rate cut. Disbursements in the bank's microfinance business are picking up, leading to sequential growth. The realignment of the company's card business collection from Bajaj Finance is taking longer than expected and could keep slippages elevated in the near term. The company's customer information file growth is expected to turn positive by the June quarter of FY27, the report said.
At 1112 IST, shares of RBL Bank were down nearly 1% at INR 298 on the National Stock Exchange. Over 3 million shares of the company have been traded on the bourse so far this session, more than 50% of the shares traded till the same time on Tuesday.
Out of 14 brokerage reports on RBL Bank available with Informist, 10 have a 'buy' rating with an average target price of INR 303, while three have a 'sell' rating and the remaining one has a 'hold' rating. (Akshat Saksena)
Equity Alert: Indices lower; broader indices fall more than benchmark peers
MUMBAI--1120 IST--Benchmark indices continued to trade lower, weighed down by a fall in index heavyweights, healthcare stocks, and shares of financial services companies. Gains in shares of State Bank of India and Axis Bank limited the losses. Broader market indices fell more than their benchmark peers.
At 1115 IST, the Nifty 50 was at 25842.65 points, down 17.45 points, or 0.1%. The BSE Sensex was at 84616.38 points, down 63.48 points or 0.1%. State Bank of India, Eicher Motors, and Shriram Finance were the best performing stocks in the Nifty 50, up 1–2%. The Nifty PSU Bank rose the most among sectoral indices and was up 1.2%. Meanwhile, shares of index heavyweights ICICI Bank and HDFC Bank dropped almost 1% and 1.3%, respectively.
A fall in shares of healthcare companies also hit the Nifty 50. Sun Pharmaceutical Industries, Cipla, and Dr. Reddy's were down 0.4-0.6%. Apollo Hospitals and Max Healthcare declined 1% and 2%, respectively.
Among other stocks, Hindustan Zinc rose almost 3?ter March futures contracts of silver hit a fresh all-time high of INR 205,394 per kg on the Multi Commodity Exchange of India. Meanwhile, shares of PB Fintech were down 2% after Parliament passed the Insurance Amendment Bill, which allows the Insurance Regulatory and Development Authority of India to limit agent and intermediary commissions through regulations. "For every 1% reduction in unit economics, earnings (of PB Fintech) could be impacted by 3–4%," brokerage UBS said.
Broader market indices fell more than their benchmark peers. The Nifty smallcap 250 index declined 0.4%, with shares of Aadhar Housing Finance, Action Construction Equipment, and Affle 3i down nearly 2?ch. Shares of Akzo Nobel were slightly off lows, but still down 13%. The Nifty Midcap 150 index was down 0.4% and Astral, Apollo Tyres, and Bharat Dynamics were its worst performing constituents, trading 1-2% lower. (Eshitva Prakash)
Equity Alert: Park Medi World lists at INR 158.80, 2% discount to issue price
MUMBAI--1055 IST--Shares of Park Medi World saw slight profit-taking as soon as trading began in the stock after it listed on Wednesday. The stock listed at INR 158.80 on the National Stock Exchange, a discount of 2% to the issue price of INR 162, and at 1041 IST, it was up 2% at 165.71. Over 27 million shares of the company have changed hands on the bourse so far.
The company's initial public offering, which ended Friday, was subscribed over eight times, with investors bidding for 338.83 million shares against the 41.82 million on offer. The public offering comprised a fresh issue of up to INR 7.70 billion and an offer for sale of up to INR 1.5 billion by promoter Ajit Gupta.
Park Medi World is the second-largest private hospital chain in north India with an aggregate bed capacity of 3,000 beds, and the largest private hospital chain in terms of bed capacity in Haryana with 1,600 beds in the state as of Mar. 31, according to a CRISIL report. For the September quarter, the company reported a consolidated net profit of INR 1.32 billion on revenue of INR 8.09 billion. (Akash Tirlotkar)
Equity Alert: Indian Overseas Bank falls over 4%; govt to sell shrs via OFS
MUMBAI--1053 IST--Shares of Indian Overseas Bank fell more than 4% to INR 35.01, their lowest level in over seven months, after the government proposed to sell 385.13 million shares in the bank representing a 2% stake through an offer for sale on Wednesday and Thursday. The floor price of the stake sale is set at INR 34 per share, which is at a 7% discount to the stock's Tuesday close of INR 36.57.
The stake sale will happen through separate windows on the stock exchanges between 0915 IST and 1530 IST on both Wednesday and Thursday, Indian Overseas Bank said in an exchange filing. The government may also sell an additional 1% stake or 192.57 million shares in case of oversubscription of the offer for sale. As of Sept. 30, the government held nearly 95% stake, or more than 18 billion shares of the lender, as per data on the website of the National Stock Exchange.
At 1048 IST, shares of Indian Overseas Bank traded 4% lower at INR 35.07 on the NSE. The stock was among the worst hit in the Nifty 500 index. So far in the day, nearly 10 million shares of the company have changed hands on the NSE compared to 724,926 shares traded till the same time Tuesday. This was also higher than the stock's three-month average volume of 9.59 million shares. (Arya S. Biju)
Equity Alert: Nephrocare Health lists at INR 490, 7% premium to issue price
MUMBAI--1045 IST--Shares of Nephrocare Health Services listed at INR 490 on the National Stock Exchange on Wednesday, a premium of 7% to the issue price of INR 460. Over 10 million shares of the company changed hands on the National Stock Exchange so far in the day. At 1035 IST, shares of the healthcare services company were trading over 4% higher at INR 479.20 on the NSE.
The public offering comprised a fresh issue of up to INR 3.53 billion and an offer for sale of up to 11.25 million shares. Of the net proceeds from the issue, the company plans to use INR 1.29 billion for capital expenditure to open new dialysis clinics in India. It will use INR 1.36 billion towards pre-payment or scheduled repayment, in full or part, of certain borrowings. The remaining proceeds will be used for general corporate purposes.
Nephrocare Health Services offers comprehensive dialysis care through a network of clinics. Its services range from diagnosis to treatment and wellness programmes, including haemodialysis, home and mobile dialysis, supported by pharmacy. For the six months ended September, it reported a consolidated net profit of INR 142.28 million on revenue of INR 4.74 billion. (Arundathi A R)
Equity Alert: JM Financial sees Eternal-owned Blinkit's Q3 growth moderating
MUMBAI--1025 IST--JM Financial maintained its 'buy' rating on Eternal but cut its target price on the stock by a little over 11% to INR 400. The brokerage expects sequential growth of Eternal's quick-commerce venture Blinkit moderating in the December quarter due to high competitive intensity and an unfavourable base.
However, the slight moderation in sequential trends does not change JM Financial's medium-to-long-term investment thesis for Eternal, it said in its report. According to the brokerage, Blinkit's profitability trajectory is expected to improve in the near term due to take-rate expansion, operating leverage, and benefits from the inventory-led model.
JM Financial expects Blinkit's net order value growth in the December quarter to moderate to 13% sequentially due to upfront festival spending in the preceding quarter. However, it sees this moderation as transitory and expects the quick-commerce company to still register over 120% growth in its net order value for the December quarter and 90% on-year growth in net order value in 2026-27 (Apr-Mar). The brokerage also expects margins to remain stable at 5.3%.
At 1022 IST, shares of Eternal traded at INR 285.30 on the National Stock Exchange, up 0.3% from Tuesday. Over 11 million shares of the company changed hands on the NSE so far, lower than over 17 million shares traded till the same time Tuesday.
Of the 15 brokerage recommendations available with Informist on the company, 13 have a 'buy' rating with an average target price of INR 352, while the remaining two have a 'sell' rating on the stock. (Arundathi A R)
Equity Alert: Indices fall slightly as heavyweight stocks decline
MUMBAI--1020 IST--Benchmark indices fell marginally after posting thin gains in the first half an hour of trade. While information technology and select automobile stocks continued to be higher, a further fall in index heavyweights weighed on the indices. A decline in private bank and financial services stocks also weighed on the Nifty 50.
At 1018 IST, the Nifty 50 was at 25834.80 points, down 0.1%, compared to a 0.2% rise at open. The BSE Sensex was at 84595 points, down 84.69 points or 0.1%. Shares of Shriram Finance, which lent the biggest support to the Nifty 50's rise, were off their all-time highs and traded 1% higher. Shares of Max Healthcare Institute were down almost 2%, and were the worst hit in the 50-stock index. Private banks and financial service stocks were down in early trade. Shares of HDFC Life Insurance Co., SBI Life Insurance Co., Kotak Mahindra Bank, and Bajaj Finserv dropped 0.3–1.3%.
Index heavyweights ICICI Bank and HDFC Bank, which declined 0.6-1.3% respectively, were the biggest drags on the Nifty 50 index. The two stocks have a cumulative weightage of over 20% on the index. Bharti Airtel, which has a near 5% weightage, fell marginally after rising earlier.
Shares of Reliance Industries were off highs and traded almost flat. Global brokerage Morgan Stanley expects earnings upgrades and valuation re-rating for Reliance Industries in every quarter of 2026, considering the strong outlook for its business and cash flows, according to a post by CNBC-TV18 on X.
Among other stocks, Indian Overseas Bank fell more than 3%, after the company said that its promoter, the government, has proposed to sell 2% stake or 385.13 million shares of the bank through an offer for sale on Wednesday and Thursday. (Eshitva Prakash)
Equity Alert: Akzo Nobel falls to three-mo low of INR 3,080.20 post large deal
MUMBAI--1007 IST--Shares of Akzo Nobel fell 15% to a three-month low of INR 3,080.20 after a large deal on the NSE aggregating INR 15.44 billion. The deal was executed at a discount of 13% to the stock's closing price Tuesday. The floor price was at INR 3,163.7. At 0943 IST, shares of the company traded nearly 13% lower at INR 3,157.20. Over 8 million shares of the company changed hands, sharply higher than 9,800 shares traded till the same time Tuesday.
Earlier, a media report said that the promoter of the company, Imperial Chemical Industry, was likely to sell a 9% stake through a block deal. The size of the offer is expected to be INR 12.91 billion with a floor price of INR 3,150, CNBC TV 18 reported, citing sources.
One brokerage report on the company available with Informist gives a 'buy' rating on the stock with average target price of INR 3,675. (Adhithya Aji)
Equity Alert: Indices tad up on gain in IT, auto cos; some heavyweights fall
MUMBAI--0945 IST--Benchmark indices opened slightly higher Wednesday, aided by gains in Shriram Finance and State Bank of India. Information technology stocks and automobile stocks also kept the indices higher. A decline in select index-heavyweights prevented a further rise in the indices. The rupee had appreciated almost 1% against the dollar after hitting all-time lows Tuesday, which spooked traders.
At 0946 IST, the Nifty 50 was at 25886.75 points, up 26.65 points or 0.1%. The BSE Sensex was at 84740.34 points, up 60.48 points or 0.1%. Shares of Shriram Finance rose over 2% in the opening minutes of the trade after the company late Tuesday said its board would meet Friday to consider a proposal to raise funds through a rights issue, preferential allotment, qualified institutional placement, among other permitted methods. A 1% rise in shares of State Bank of India lent support to the Nifty 50, while index heavyweights such as ICICI Bank and HDFC Bank fell 1% and 0.5%, respectively, dragging down the index. Shares of Axis Bank were up over 1?ter a sharp decline Tuesday.
Most information technology companies traded higher. Infosys, Wipro, HCL Technologies, and Tata Consultancy Services rose 0.5-1.0%. Major automobile companies also aided the 50-stock index. Shares of Eicher Motors, Tata Motors Passenger Vehicles, and Maruti Suzuki traded 0.7–1.4% higher.
Among others, Akzo Nobel declined 13?ter nearly 5 million shares changed hands on the NSE, around 0915 IST. Media reports Tuesday suggested that its promoter, Imperial Chemical Industries, was likely to sell up to 9% stake in the company through a block deal. The company was the worst performing stock in the Nifty 500 index. Shares of Reliance Infrastructure hit upper circuit yet again and were up 5%.
In the Nifty 200 index, shares of Indraprastha Gas were up 4% after global brokerage Nomura upgraded its rating on the stock to 'buy'. Polycab India fell more than 3% and was the worst performing stock in the 200-stock index.
Most sectoral indices were in the green, with Nifty PSU Bank rising more than 1%. The Nifty Metal and the Nifty Oil and Gas Index were up 0.7?ch. The Nifty Consumer Durable index and the Nifty FMCG index, which were the leading indices Tuesday, fell. Broader market indices were mixed in early trade and most such indices turned flat after a short rise. (Eshitva Prakash)
Equity Alert: Shriram Fin hits record high; board to mull raising funds Fri
MUMBAI--0955 IST--Shares of Shriram Finance rose over 3% to a fresh record high of INR 875.45 Wednesday after the company said its board would meet Friday to consider raising funds through a rights issue, preferential allotment, qualified institutional placement, among other permitted methods. The non-banking finance company, however, did not disclose the amount it plans to raise.
At 0948 IST, shares of Shriram Finance came slightly off highs and traded nearly 2% higher at INR 863.35. The stock was the top gainer in the Nifty 50 index. It rose after losing nearly 1% in the previous session. So far in the day, over 3 million shares have changed hands on the NSE compared to the 900,225 shares traded till the same time Tuesday.
In another development related to the company, several media reports said that Mitsubishi UFJ Financial group Inc. was nearing a deal to acquire minority stake in Shriram Finance. The Japanese lender may invest more than 500 billion yen or around $3.2 billion, to purchase around 20% stake in the company, reports said citing people familiar with the matter. The NBFC is said to be in preliminary talks with other potential investors, including Sanlam Group, Abu Dabhi Investment Authority, and Temasek to sell 5–15% stake, The Hindu Businessline reported, citing two sources aware of the development.
Of the 19 research reports on the company available with Informist, 17 have a 'buy' or equivalent rating on the stock with an average target price of INR 795 per share. The remaining two have a 'hold' rating on the stock. (Arya S. Biju)
Equity Alert: Nomura upgrades Indraprastha Gas rtg to 'buy' from 'neutral'
MUMBAI--0900 IST--Nomura upgraded its rating on the shares of Indraprastha Gas to 'buy' from 'neutral' on attractive valuations after a sharp correction over the past one month and multiple margin tailwinds. The brokerage has a target price of INR 230 per share for the company. The brokerage sees the softening of Henry Hub gas prices as positive for the company due to the lower cost of imported gas.
The shares of Indraprastha Gas have seen a sharp correction of 14% over the past one month, the brokerage said in its report. Nomura expects the company's margin to benefit from lower tax and transmission tariffs. The transition of Delhi Transport Corp. nears completion and it will support volume growth, CNBC-TV 18 said in its post on X, quoting Nomura. The risk-reward turns of the company are favourable after a sharp stock correction, the brokerage said.
Tuesday, shares of the company ended over 1% lower at INR 183.42 on the National Stock Exchange. Over 1 million shares of the company changed hands on the NSE, higher than the 719,592 shares traded Monday.
Of the 17 brokerage recommendations available with Informist on the company, 10 have a 'buy' rating with an average target price of INR 257. Four have a 'hold' rating and the remaining three have a 'sell' rating on the stock. (Arundathi A R)
Equity Alert: Brokerages see new insurance bill as negative for PB Fintech
MUMBAI--0855 IST--Global brokerage UBS has maintained its 'sell' rating on PB Fintech with a target price of INR 1,660, indicating around 9% downside from Tuesday's close. The brokerage sees the newly passed Insurance Amendment Bill as a negative for the company as it proposes to limit commissions payable to insurance players, NDTV Profit reported, citing UBS. "For every 1% reduction in unit economics, earnings could be impacted by 3–4%," the brokerage said. On Tuesday, shares of PB Fintech closed 5.5% lower at INR 1,820.50.
Parliament Tuesday passed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, which will help revamp India's insurance framework, with a host of changes to the Insurance Act, 1938, the Life Insurance Corporation Act, 1956, and the IRDAI Act, 1999. The bill also proposes to allow the Insurance Regulatory and Development Authority of India to set limits to any commission or reward received by insurance agents, according to media reports.
Among other brokerages, Kotak Securities said that the proposal to cap insurance commission could weigh on PB Fintech's stock. IRDAI already has the flexibility to fix commission caps and the amendment reinforces this power, the brokerage said.
Meanwhile, Citi has maintained its 'buy' rating on PB Fintech with a target price of INR 2,225, indicating an over 22% upside potential. There is only a low probability of the regulator backtracking on the current democratised commission framework, the report citied the brokerage as saying. Penalising efficient distributors runs counter to the regulator's objective of improving insurance penetration, Citi added. (Arya S. Biju)
Equity Alert: Morgan Stanley sees earnings upgrades for RIL every qtr in 2026
MUMBAI--0841 IST--Morgan Stanley expects earnings upgrades and valuation re-rating for Reliance Industries in every quarter of 2026, considering the strong outlook for its business and cash flows, according to a post by CNBC-TV18 on X. The brokerage maintained its 'overweight' rating for the company and raised its target price to INR 1,847, indicating an upside of nearly 20% from the current market price. On Tuesday, shares of Reliance Industries closed at INR 1,542.30 on NSE.
The brokerage expects the company's investments of $80 billion to start giving benefits from 2026. Reliance Industries is likely to redeploy capital into "new growth frontiers," the brokerage said. "Fourth monetisation cycle is underway as all verticals turn free cash flow positive," Morgan Stanley said. (Anshul Choudhary)
Equity Alert: Asian indices open higher, data shows Japan exports up 6.1%
MUMBAI--0817 IST--Most Asian indices opened on a positive note after trade data in Japan showed that the country's exports grew 6.1% for November, beating the expectation of an average 4.8% growth and sharply higher than 3.6% in October. Japan's Nikkei was up 0.2% and South Korea's KOSPI rose 0.6%. The South Korean index rose after falling for two sessions.
China's CSI 300 index was up 0.5% and Hong Kong's Hang Seng Index rose 0.4%. Both these indices rose after falling for two consecutive sessions. The shares of Japanese financial institution SBI Shinsei Bank rose over 12?ter an initial public offering of $2.1 billion. The shares were priced at 1,450 yen, CNBC reported.
The November job data in the US came in better than expected, with the addition of 64,000 jobs beating the market expectations of 45,000 jobs additions. However, the unemployment rate rose to an over four-year high of 4.6% which sparked concerns among investors.
Following were the levels of key Asian indices at 0810 IST:
|
Level |
Last |
Change in % |
| KOSPI |
4020.93 |
0.54 |
|
Nikkei 225 Day |
49537.19 |
0.31 |
|
CSI 300 Index |
4518.40 |
0.46 |
|
TOPIX FIRST SECTION |
3371.65 |
0.03 |
|
Hang Seng Index |
25310.09 |
0.30 |
|
SSE Composite Index |
3827.51 |
0.07 |
|
TAIEX |
27664.33 |
0.46 |
(Adhithya Aji)
Equity Alert: Indices may open flat amid mixed global cues, weak rupee
MUMBAI--0815 IST--Benchmark equity indices are expected to open largely flat after closing in the red for two sessions in a row. Mixed global cues, a weak rupee, selling by foreign investors, and uncertainty over the India-US trade deal are expected to continue to impact market sentiment Wednesday.
Overnight, the S&P 500 and the Dow Jones Industrial Average closed in the red as investors accessed key US jobs data for October and November, which had been delayed due to the 43-day federal government shutdown. Meanwhile, the tech-heavy Nasdaq Composite ended the session 0.2% higher. The US unemployment rate rose to a four-year high of 4.6% in November against the backdrop of economic uncertainty stemming from US President Donald Trump's aggressive trade policies, Reuters reported.
US employers added 64,000 jobs in November, which followed a drop of 105,000 jobs in October, according to the US Bureau of Labor Statistics. This included the departure of more than 150,000 federal employees who took deferred buyouts as part of the Trump administration's push to cut government jobs earlier this year, Reuters reported.
Equity indices in Asia were mixed in early trade after the mixed US jobs data failed to move the needle on the rate outlook by the US Federal Reserve, leaving investors awaiting further cues to guide their next move. Bets of an interest rate cut by the US Fed have not changed much following the job data, with the CME FedWatch Tool showing only a 25.5% probability of a rate cut in the January meeting, compared to a 24.4% chance a day before. Further, trade data from Japan showed that the country's exports grew 6.1% on year in November, more than the 4.8% rise estimated by economists polled by Reuters.
The GIFT Nifty contracts suggest the Nifty 50 may open largely flat. At 0810 IST, the December contract of the GIFT Nifty was trading at 25922.50 points, 62 points above the Nifty 50's close on Tuesday. The Nifty 50 ended at 25860.10 points on Tuesday, down 0.6%. (Arya S. Biju)
Equity Alert: US indices end mixed as investors assess Nov jobs report
MUMBAI--0740 IST--US indices, barring the tech-heavy Nasdaq composite, ended lower Tuesday. Nasdaq composite gained 0.2%. Investors assessed the November jobs report that was released on Tuesday, which came in better than expected. However, the unemployment rate came in at 4.6%, higher than economists' forecast of 4.5%, raising concern about the state of the US economy. The artificial intelligence stocks weighed on the S&P 500 index as investors continued to take profits from AI trade and move on to other areas of the market such as healthcare and utilities.
The November jobs report showed an addition of 64,000 jobs and an unemployment rate of 4.6%, according to the Bureau of Labor Statistics. Economists surveyed by the Dow Jones expected an addition of 45,000 jobs for the month, CNBC reported. The unemployment rate rose to 4.6% which was above the economists' forecast of 4.5%, raising concern about the state of the US economy, as per the CNBC report. There are lower chances of another rate reduction by the US Federal Reserve at its upcoming policy meeting on Jan. 28 as the figures from CME FedWatch tool showed that 74.5% of investors expect interest rates to remain unchanged.
The S&P 500 index ended lower for the third consecutive session as key artificial intelligence stocks such as Broadcom, Oracles, and Microsoft extended losses. Health stocks fell 1.3% with Pfizer slipping 3.4%. The company forecast a challenging year ahead due to weaker sales of COVID-19 products and squeezed margins, Reuters reported. Nasdaq submitted paperwork with the US Securities and Exchange Commission, seeking to change the timing of the trade of stocks, as per the Reuters report.
Following are the closing levels of US indices Tuesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6800.26 |
(-)0.24 |
|
NASDAQ Composite |
23111.462 |
0.23 |
|
Dow Jones Industrial Average |
48114.26 |
(-)0.62 |
(Adhithya Aji)
US$1 = INR 90.37
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Deepshikha Bhardwaj
All prices from National Stock Exchange, unless otherwise specified.
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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