Asian stocks rose on Friday and put global markets on course for a week of heady gains as AI darling Nvidia's stunning results sparked a wave of record highs from Asia to Europe and the US, while the yen nursed losses on a range of currencies.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6%, bringing the weekly gains to 1.8%.
US stocks soared on Thursday, breaching record highs, powered by blockbuster earnings from AI darling Nvidia.
Here's a table showing how US stocks performed on Thursday:
Stock/Index | LTP | Change ($) | Change (%) | Day High | Day Low | 52-Week High | 52-Week Low |
---|---|---|---|---|---|---|---|
Alphabet | 145.32 | 1.48 | 1.03% | 146.2 | 144.01 | 155.2 | 88.86 |
Apple | 184.37 | 2.05 | 1.12% | 184.96 | 182.46 | 199.62 | 143.9 |
Meta | 486.13 | 18.1 | 3.87% | 489.99 | 476.06 | 489.99 | 167.66 |
Tesla | 197.41 | 2.64 | 1.36% | 198.32 | 191.36 | 299.29 | 152.37 |
Netflix | 588.47 | 15.12 | 2.64% | 590.85 | 578.89 | 597 | 285.33 |
Amazon | 174.58 | 5.99 | 3.55% | 174.8 | 171.77 | 175.39 | 88.12 |
Microsoft | 411.65 | 9.47 | 2.35% | 412.83 | 408.57 | 420.82 | 245.61 |
Dow Jones | 39069.11 | 456.87 | 1.18% | 39149.61 | 38802.07 | 39149.61 | 31429.82 |
Nasdaq | 18004.7 | 525.79 | 3.01% | 18034.81 | 17808.26 | 18041.45 | 11695.41 |
At present, the BSE Sensex is trading 50 points up and NSE Nifty is trading 13 points higher.
Wipro, Hero MotoCorp and Titan are among the top gainers today.
Axis Bank, Asian Paints and Bharti Airtel on the other hand are among the top losers today.
Broader markets are trading on negative note. The BSE Midcap index is trading 0.4% higher and the BSE Small Cap index is trading 0.6% lower.
Sectoral indices are trading mixed, with socks in realty sector and telecom sector witnessing buying. Meanwhile stocks in energy sector and oil & gas sector witnessed selling pressure.
The rupee is trading at Rs 82.86 against the US dollar.
In commodity markets, gold prices are trading flat at Rs 62,040 per 10 grams today.
Meanwhile, silver prices are trading 0.3% lower at Rs 70,064 per 1 kg.
Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...
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These are the smallcaps with decent financial performance and where the current price is almost at par or at a discount from the average price at which insiders have purchased.
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The Indian Railway Catering and Tourism Corporation (IRCTC) has partnered with Swiggy for the delivery of pre-ordered meals booked by passengers through the corporation's e-catering portal. During the initial stage, Swiggy will provide services to IRCTC customers at four railway stations.
The services will be expanded to other stations after the completion of the first phase.
The e-catering service through Bundl Technologies Pvt. Ltd. (Swiggy Foods) may be available soon.
Indian Railways' catering arm is opting for partnerships and tie-ups to expand its services to a larger number of railway stations with a wider range of food options for its customers.
A few months ago, IRCTC partnered with the food delivery application Zomato for the supply and delivery of pre-ordered food at different railway stations.
At the time of the partnership announced in October, train passengers can avail of the services at selected stations, including New Delhi, Prayagraj, Kanpur, Lucknow and Varanasi.
The collaboration between Swiggy and IRCTC is expected to boost the business of the food delivery application given the high number of passenger traffic in the country.
Swiggy is preparing to enter the stock market this year. The food delivery application is likely to file its draft red herring prospectus with SEBI for its IPO launch soon.
From a macro picture, stocks from the overall railway sector have been a boon to investors in 2023.
IRCTC is a monopoly business. And if there's one thing investors love is investing in a monopoly business.
For more details check out Top 5 Monopoly Stocks to Watch Out in 2024.
Olectra Greentech gained 2.74% to Rs 2,119 after the company secured an order worth Rs 40 bn from Brihan Mumbai Electric Supply & Transport (BEST), to supply, operate and maintain 2,400 electric buses.
A consortium of Olectra Greentech and Evey Trans (EVEY) has received a letter of award (LoA) from Brihan Mumbai Electric Supply & Transport Undertaking (BEST) for the supply, operation and maintenance of 2,400 electric buses on a gross cost contract basis.
The said order is to be on a gross cost contract (GCC)/OPEX model basis for 12 years (contract period). EVEY shall procure these buses from Olectra Greentech, which shall be delivered over 18 months.
Maintenance of these buses shall also be undertaken by the Olectra during the contract period.
Olectra Greentech is engaged in the manufacturing of composite polymer insulators, electric buses and electric trucks.
Bajaj Auto on Thursday said it has invested an additional Rs 457.5 m in the electric bike-sharing platform Yulu Bikes.
Post the fresh investment, the company's shareholding in Yulu Bikes stands at 18.8% of the paid-up equity share capital of the electric bike-sharing platform.
In 2019, Bajaj Auto announced an investment of US$ 8 million (around Rs 660 m) in Yulu to boost electric vehicle adoption in India.
The additional capital raised will enable Yulu to maintain its growth streak and will strengthen its market leadership as it expands in terms of vehicles, operational locations, and product and technology innovation to keep up with the rise in demand from users.
He also added that Yulu is on track to raise its Series C round of funding soon.
To know what's moving the Indian stock markets today, check out the most recent share market updates here.
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