Sensex Today | Share Market Updates: Treasury yields rose after a report suggested the US job market remains remarkably solid and Federal Reserve Chair Jerome Powell said the Fed “will not hesitate” to raise interest rates further if it feels high inflation is not fully under control.
Oil inch up as technical gauges signaled that crude’s plunge to a three-month low on Wednesday was overdone.
FIIs extended their selling spree on Thursday as domestic markets settled lower on profit amid weak global cues. The DIIs tried to counterbalance the sell-off and emerged net buyers as they infused ₹1,512 crore in Indian stocks today.
Sensex Today Live | Share Market Updates: Ashok Leyland posts Q2 profit miss on higher costs
Ashok Leyland Ltd, the second largest commercial vehicle manufacturer in India, disclosed a second-quarter profit that was lower than anticipated, primarily due to increasing costs counterbalancing the robust demand for its trucks and buses.
The standalone profit for the three months ended in September surged more than two-fold to 5.61 billion rupees ($67.36 million). However, this figure fell short of analysts’ expectations of 6.28 billion rupees, as reported by LSEG data.
The Chennai-based automobile manufacturer also reported a 16.6% increase in revenue from operations for the quarter. (Read More)
Sensex Today Live: ESAF Small Finance Bank IPO listing date today. GMP, experts signal strong debut of shares
The initial public offering (IPO) of ESAF Small Finance Bank Limited is scheduled to be listed on the stock exchanges today, 10th November 2023. According to the BSE notification, the equity shares of ESAF Small Finance Bank Ltd will be listed and made available for trading on the Exchange under the ‘B’ Group of Securities. The listing will occur during a special pre-open session on both the BSE and NSE.
Meanwhile, gray market sentiments in regard to ESAF Small Finance Bank IPO has gone down. According to market observers, shares of ESAF Small Finance Bank Limited are available at a premium of ₹20 in the gray market today, which is Re 1 lower than the previous session. (Read More)
Sensex Today Live | Share Market Updates: Sony’s googly on CEO may stump Zee merger
Talks on the mega-merger between Zee Entertainment Enterprises Ltd and Sony Pictures Networks India (SPNI) have stalled over the latter’s last-minute demand that its executive lead the merged entity instead of Punit Goenka as agreed before. According to two people aware of the matter, failure to reach an agreement by the 21 December deadline may derail the merger, the biggest in India’s entertainment industry.
In a scheme of arrangement signed on December 21, 2021, the two entertainment giants agreed that Goenka, currently managing director (MD) and chief executive officer (CEO) of Zee, will continue in the same position in the merged entity for five years. (Read More)
Sensex Today: Wall Street falls on Thursday after the bond market cranks up the pressure again
Stocks fell Thursday to break one of Wall Street’s longest winning streaks in two decades after the pressure cranked higher from the bond market.
The S&P 500 sank 35.43 points, or 0.8%, to 4,347.35. The Dow Jones Industrial Average dropped 220.33, or 0.6%, to 33,891.94, and the Nasdaq composite lost 128.97, or 0.9%, to 13,521.45.
Stocks had been higher earlier in the day, and the S&P 500 was on track for a ninth straight gain, which would have been its longest winning streak in 19 years. But the stock market quickly sagged under the weight of rising yields in the bond market.
Treasury yields rose in the morning after a report suggested the US job market remains remarkably solid. They climbed further when the US government announced the results of a sale of $24 billion in Treasury bonds. And then they spurted higher after Federal Reserve Chair Jerome Powell said the Fed “will not hesitate” to raise interest rates further if it feels high inflation is not fully under control.
The 10-year Treasury yield, which is the centerpiece of the bond market, rose to 4.63% from 4.50% late Wednesday. (AP)
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