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PRE MARKET
Gift Nifty indicates a negative start for the broader index in India, with a loss of 73 points or 0.28 percent. The Nifty futures were trading around the 25,850 level.
Wall Street ended sharply lower on Thursday, with steep losses in Nvidia and other AI heavyweights, as investors scaled back expectations of interest rate cuts due to inflation worries and divisions among central bankers about the U.S. economy’s health.
All three major U.S. stock indexes posted their steepest daily percentage declines in over a month. The S&P 500 declined 1.66% to end the session at 6,737.49 points. The Nasdaq fell 2.29% to 22,870.36 points, while the Dow Jones Industrial Average declined 1.65% to 47,457.22 points.
Asian stocks fell at the open on Friday after uncertainty over Federal Reserve interest-rate cuts and stretched valuations in technology shares dragged Wall Street lower.
Japan’s Nikkei, Hong Kong’s Hang Seng, and the Taiwanese weighted index went down 1.51, 0.87, and 1.38 percent, respectively.
STOCKS TODAY
Zydus Lifesciences
The United States Food and Drug Administration (USFDA) conducted a Pre-Approval Inspection at the SEZ Oncology Injectable manufacturing site in SEZ-1, Ahmedabad, related to the new isolator injectable line, during November 4-13. The inspection concluded with two observations, with no data-integrity–related issues.
NBCC (India)
The company has received an order worth Rs 340 crore for the construction of the Central University of Kashmir (Phase-I works) at Tulmulla, Ganderbal, Kashmir.
Nippon Life India Asset Management
The Board has authorised Nippon Life to enter into a strategic collaboration with DWS Group GmbH & Co. KGaA, the European asset manager. Both parties intend to jointly develop and build a leading AIF franchise in India, wherein DWS plans to acquire a minority stake of up to 40% in Nippon Life India AIF Management (NAIF), a wholly owned subsidiary of the company.
CESC
The company’s subsidiary, CESC Green Power, has received in-principle approval from the Government of Odisha to set up a manufacturing facility comprising 3 GW solar cell capacity, 3 GW solar module capacity, a 5 GWh advanced chemistry battery cell pack unit, and advanced solar components, along with a 60 MW AC captive power plant in the Dhenkanal district. The investment is estimated at around Rs 4,500 crore in three phases.
Suraj Estate Developers
The real estate developer announced the launch of its commercial project, One Business Bay, having a carpet area of 2.09 lakh sq ft, with an estimated Gross Development Value (GDV) of Rs 1,200 crore.
Source – Moneycontrol