Indian Shares Likely To Open Higher; Earnings In Focus

RTTNews | 1325 days ago
Indian Shares Likely To Open Higher; Earnings In Focus

(RTTNews) - Higher SGX Nifty, the overnight strong close on Wall Street, and fairly steady Asian markets point to a positive start for Indian shares on Friday.

Also, some bargain hunting it likely after the setback on Wednesday. The market remained closed on Thursday for Republic Day holiday.

Investors are likely to track quarterly earnings updates for direction.

Several companies, including Bajaj Finance, Vedanta, Aarti Drugs and Ramco Industries, are scheduled to announce their quarterly results today.

Tata Motors reported consolidated net profit of Rs 2,958 crore for the October - December quarter, as against net loss of Rs 1,516 crore in the corresponding quarter of the previous year.

Dr Reddy's Laboratories said its net profit rose as much as 77 percent in the December quarter over the year-ago quarter.

Bajaj Auto reported a 23 percent increase in standalone net profit at Rs 1,491 crore for the quarter ended December 2022.

The focus will also be on Adani Enterprises as the company's huge Rs 20,000 crore FPO opens for subscription today.

The Hindenburg Research report on Adani Group and the subsequent developmens will also be under the scanner.

Indian shares ended weak on Wednesday due to selling pressure in Adani Group shares and financials.

The benchmark S&P/BSE Sensex ended the session down 773.69 points, or 1.27 percent, at 60,205.06 as lingering recession worries spurred caution. The broader NSE Nifty index settled 226.35 points, or 1.25 percent, down at 17,891.95 amid the expiry of January series derivative contracts.

read more
TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

The S&P/TSX Composite Index rose 0.36% Friday to 35,634.50 as technology stocks surged 3.5%, contributing significantly to gains. Oil prices fell following International Energy Agency's downward global oil demand forecast revision.
RTTNews | 1 day ago
Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

The Switzerland stock market closed modestly higher on Friday, in line with markets across Europe, as a sharp drop in oil prices helped lift sentiment.
RTTNews | 1 day ago
European Markets Rise As Oil Prices Fall On IEA Demand Cut

European Markets Rise As Oil Prices Fall On IEA Demand Cut

European markets gained ground Friday after the International Energy Agency cut its global oil demand forecast, sending Brent crude futures down 3.5% to $103.50. The IEA now projects world oil demand will drop 2.5 million barrels per day this year versus its prior estimate of 1.6 million bpd.
RTTNews | 1 day ago
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. The University of Michigan said its consumer sentiment index slumped to 47.8 in September after tumbling to 51.7 in August. Economists had expected the index to edge down to 51.0.
RTTNews | 1 day ago
CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including more than 2.3 million sour crush candy bottles, motorcycles, six-drawer dressers, dual fuel ranges, hair dryer brushes, and fire spray canisters, among others. In most of the recalls, consumers are urged to immediately stop using the recalled product, and contact the respective firm for either a free repair
RTTNews | 1 day ago
U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August, although core prices rose by slightly more than expected. The Labor Department said its consumer price index climbed by 0.4 percent in August after inching up by 0.1 percent in July.
RTTNews | 1 day ago