Opening Bell:
Gift Nifty is up by 13.0 points in the early morning trade, indicating a positive opening for Indian stock market.
Hong Kong stocks led Asia-Pacific markets lower on Tuesday, in their return from a National Day holiday on Monday. The city’s benchmark Hang Seng index closed 2.69% lower at 17,331.22, recovering slightly from earlier in the session when it was down more than 3%.
Overnight in the U.S., all three major indexes traded mixed. The Dow Jones Industrial Average declined 74.15 points, or 0.22%, to 33,433.35. The S&P 500 inched higher by 0.01% to close at 4,288.39. The Nasdaq Composite added 0.67% to close at 13,307.77
European markets closed slightly lower Wednesday as U.S. bond yields pulled back from multiyear highs. The pan-European Stoxx 600 index ended 0.1% lower, with sectors and major bourses pointing in opposite directions.
Stocks News:
👉 Foreign institutional investors currently hold 59 percent stake in HDFC Bank, leaving a headroom of about 20 percent. The headroom is up from 18.3 percent in June 2023, when FIIs held 60.3 percent.
👉 Hero Motocorp has received 13,688 bookings for its newly launched flagship motorcycle, Karizma XMR. The dispatches of Karizma XMR to Hero MotoCorp dealerships have already started and customer deliveries will begin in the festive period this month.
👉 Singapore subsidiary of NODWIN Gaming, a material subsidiary of Nazara Technologies, has acquired a 100 percent stake in the game marketing agency, PublishME, for $2 million from its existing shareholders Nazara Technologies, and Ozgur Ozalp..
👉 PNB has announced a 11.3 percent year-on-year growth in total business at Rs 22.5 lakh crore for the quarter ended September FY24, with deposits rising 9.7 percent YoY to Rs 13.08 lakh crore and global gross advances increasing 13.8 percent YoY to Rs 9.4 lakh crore.
👉 Foreign institutional investors (FII) offloaded shares worth Rs 4,424.02 crore, while domestic institutional investors (DII) purchased Rs 1,769.49 crore worth of stocks on October 4, provisional data from the National Stock Exchange (NSE) showed.
Domestic and International Events
- Funds raised by Indian companies through main board initial public offerings (IPOs) saw a 26 percent decline in the first half of the financial year 2023-24 (H1 FY24) compared to the same period the year before, according to PRIME Database. The 31 companies that floated IPOs during H1 FY24 raised Rs 26,300 crore cumulatively down from Rs 35,456 crore mobilized by 14 IPOs in H1 FY23.
- Corporate India’s credit profile remained robust during April-September 2023, but the number of rating upgrades dropped in the period, according to rating agencies. However, the number of corporates that saw credit rating upgrades in H1 of FY24 outweighed those that saw downgrades.
- A rare anomaly seen during times of extreme stress has returned to emerging markets. The slump in US Treasuries this week has exacerbated a selloff in developing-nation debt, sending the yield on bonds in the Bloomberg EM Aggregate Sovereign Index to a one-year high of 8.93% on Tuesday. That exceeded the earnings yield of 8.63% on stocks in the equities benchmark, the MSCI Emerging Markets Index.
- Oil fell by over $3 a barrel on Wednesday, as demand fears stemming from macroeconomic headwinds offset pledges by Saudi Arabia and Russia to continue crude output cuts to the end of 2023. Brent crude oil futures were down $3.30, or 3.63%, to $87.62 a barrel, while U.S. West Texas Intermediate crude (WTI) fell $3.29, or 3.69%, to $85.94.
Key Equity Indices
| EMERGING | LATEST | % 1D |
| Hang Seng | 17,196 | (0.8) % |
| Shanghai Composite | 3,110 | 0.1 % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 33,130 | 0.4 % |
| DAX | 15,100 | 0.1 % |
| FTSE 100 | 7,412 | (0.8) % |
| Nikkei | 30,527 | (2.3) % |
| Straits Times | 3,147 | (1.4) % |
