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PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to remain volatile on Wednesday tracking mixed global market cues ahead of US election results 2024.
Gift Nifty was trading around 24,255 level, a discount of nearly 40 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
The US stock market ended sharply higher on Tuesday as investors braced for volatile trading as voting began in an extremely tight US presidential election.
The Dow Jones Industrial Average rallied 427.28 points, or 1.02%, to 42,221.88, while the S&P 500 rose 70.07 points, or 1.23%, to 5,782.76. The Nasdaq Composite ended 259.19 points, or 1.43%, higher at 18,439.17.
Asian markets traded higher Wednesday following an overnight rally on Wall Street ahead of the US presidential election results.
Japan’s Nikkei 225 gained 0.7%, while the Topix rose 0.4%. South Korea’s Kospi added 0.2%, while the Kosdaq gained 0.7%. Hong Kong’s Hang Seng index futures indicated a lower opening.
STOCKS TODAY
NTPC: The Board has given investment approval for the Telangana Super Thermal Power Project Phase-II (3×800 MW), Gadarwara Super Thermal Power Project Stage-II (2×800 MW), and Nabinagar Super Thermal Power Project Stage-II (3×800 MW), at an appraised current estimated cost of Rs 79,738.45 crore.
Hero MotoCorp: The world’s largest two-wheeler manufacturer unveiled a range of new motorcycles and an electric scooter at EICMA 2024. The company also announced its plans to enter multiple European and UK markets by the second half of 2025. It plans to expand its range to include high-capacity premium internal combustion engine (ICE) motorcycles.
Premier Explosives: The company has received an order worth Rs 89.20 crore from the state-run Singareni Collieries Company for the supply of SME explosives, LDC explosives, and accessories for use in overburden (OB) blasting at various opencast projects of Singareni Collieries. The order will be delivered over 2 years.
Infosys: Southwark Council has partnered with Infosys to provide digital learning platforms for residents, colleges, and schools. The Infosys Springboard digital inclusion platform will help residents gain critical digital and employability skills.
Coffee Day Enterprises: The stock exchanges have suspended the trading of Coffee Day Enterprises securities, effective November 5. The company has met the additional surveillance measures (ASM) criteria under the Insolvency and Bankruptcy Code (IBC). The securities will be traded only once a week (every Monday or the first trading day of the week) until further review by the stock exchanges, following a minimum period of 1 month in IBC Stage I.
Motilal Oswal Financial Services: Tata Mutual Fund has acquired a 0.06% stake in Motilal Oswal Financial Services from Motilal Oswal Foundation, at an average price of Rs 933.3 per share, amounting to Rs 35 crore.