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PRE-MARKET REPORT
The domestic equity benchmark indices Sensex and Nifty 50 are expected to open weak on Tuesday following cautiousness in global markets ahead of the US Presidential Election 2024 and the US Federal Reserve policy meeting later this week.
Gift Nifty was trading around the 24,065 level, a discount of nearly 50 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
The US stock market ended lower on Monday ahead of the Presidential Elections and the Fed policy later this week. The Dow Jones Industrial Average declined 257.59 points, or 0.61%, to 41,794.60, while the S&P 500 fell 16.11 points, or 0.28%, to 5,712.69. The Nasdaq Composite closed 59.93 points, or 0.33%, lower at 18,179.98.
Asia markets traded mixed on Tuesday tracking overnight weakness on Wall Street as investors looked ahead to the US presidential election and a possible interest rate cut from the US Fed this week.
Japan’s Nikkei 225 gained 0.68%, while the Topix rose 0.33%. South Korea’s Kospi declined 0.67%, while the Kosdaq added 0.25%. Hong Kong’s Hang Seng index futures indicated a slightly higher opening.
STOCKS TODAY
Kuantum Papers: The Board has appointed Vikram Kumar Khaitan as the company’s Chief Financial Officer (CFO), effective November 5, after Roshan Garg resigned from the position, effective November 4.
Embassy Office Parks REIT: The market regulator SEBI has asked Embassy Office Parks Management Services to suspend Aravind Maiya from acting as its Chief Executive Officer (CEO) and appoint an interim CEO immediately. Embassy Office Parks Management Services is the manager of Embassy REIT.
Afcons Infrastructure: Goldman Sachs India Equity Portfolio, Jupiter India Fund, Nomura Funds Ireland India Equity Fund, and Nomura India Investment Fund Mother Fund bought a 2.7% stake in the infrastructure engineering and construction company, amounting to Rs 449.08 crore.
Entero Healthcare Solutions: AL Mehwar Commercial Investments LLC purchased a 0.57% stake in Entero from CLSA Global Markets Pte Ltd – ODI at an average price of Rs 1,399.80 per share, valued at Rs 34.97 crore.
Trent: Investor Siddhartha Yog acquired a 0.33% stake in Trent from Dodona Holdings at an average price of Rs 6,985 per share, amounting to Rs 838.84 crore.