Asian stocks experienced a notable rally alongside US equity futures on Monday, marking a positive turn for the markets. The dollar retreated against other currencies as bond yields declined.
MSCI's broadest index of Asia-Pacific shares increased by 1.6%.
Wall Street closed higher on Friday, with all three major indexes achieving significant weekly gains. Investors confidently responded to data demonstrating strong economic activity in the world's largest economy.
Here's a table showing how US stocks performed on Friday:
Stock/Index | LTP | Change ($) | Change (%) | Day High | Day Low | 52-Week High | 52-Week Low |
---|---|---|---|---|---|---|---|
Alphabet | 166.57 | -2.67 | -1.58% | 168.26 | 165.71 | 193.30 | 129.40 |
Apple | 229.87 | 1.35 | 0.59% | 230.72 | 228.06 | 237.49 | 164.08 |
Meta | 559.14 | -3.95 | -0.70% | 563.83 | 554.59 | 602.95 | 313.66 |
Tesla | 352.56 | 12.92 | 3.80% | 361.53 | 337.70 | 361.53 | 138.80 |
Netflix | 897.79 | 0.31 | 0.03% | 906.00 | 893.00 | 908.00 | 445.73 |
Amazon | 197.12 | -1.26 | -0.64% | 199.26 | 196.75 | 215.90 | 142.81 |
Microsoft | 417.00 | 4.13 | 1.00% | 417.40 | 411.06 | 468.35 | 362.90 |
Dow Jones | 44296.51 | 426.16 | 0.97% | 44323.95 | 43871.63 | 44486.70 | 35280.57 |
Nasdaq | 20776.23 | 35.45 | 0.17% | 20797.24 | 20655.72 | 21182.03 | 15695.58 |
At present, the BSE Sensex is trading 1,262 points higher and NSE Nifty is trading 396 points higher.
BPCL, L&T and ONGC among the top gainers today.
Infosys and JSW Steel other hand are among the top losers today.
For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.
For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.
Broader markets are trading on positive note. The BSE Midcap index and the BSE Smallcap index is trading 2% higher.
Sectoral indices are trading higher today with stocks in energy sector, auto sector and oil & gas sector witnessing most buying.
The rupee is trading at Rs 84.36 against the US dollar.
In commodity markets, gold prices are trading 1.2% lower at Rs 76,696 per 10 grams today.
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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Rail Vikas Nigam (RVNL) announced that its joint venture (JV), RVNL-SCPL has received a letter of acceptance (LoA) worth Rs 837.67 crore from Eastern Railway.
The order includes earthwork in cutting and filling, blanketing, construction of minor bridges, major bridges, RUB, ROB, retaining wall, level crossing, side drain, catch water drain, P.way work, and other ancillary works between Kalipahari and Pradhankhuta in connection with the construction of a multi-track tracking railway BG line.
In the RVNL-SCPL JV, RVNL holds a 74% stake, and SCPL holds the remaining 26% stake.
The said project is worth Rs 837.67 crore and it will be completed in 36 months.
Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable-stayed bridges, institution buildings, etc.
Rites informed that it had received a revised estimate of Rs 5.3 bn for an electrification project under the Northeast Frontier Railway.
The revised total cost for the project stands at Rs 5.3 bn, excluding GST, which marks an increase from the original cost of Rs 2.9 bn.
The electrification work is to be carried out on a turnkey basis at the Lumding junction and Badarpur junction section of the Lumding division of Northeast Frontier Railway, it added.
RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.2% stake in the company.
The company's consolidated net profit declined 27.8% to Rs 72.9 crore in Q2 FY25 as against Rs 1 bn recorded in Q2 FY24.
Shares of the state-owned Cochin Shipyard are expected to be in focus today, as the company has announced that it has signed a memorandum of understanding (MoU) with Seatrium Letourneau USA for the design and critical equipment for jack-up rigs for the Indian market.
Building on Cochin Shipyard's extensive experience in ship construction and engineering, and SLET's renowned technical expertise and design capabilities, this partnership aims to capitalize on opportunities for Mobile Offshore Drilling Units (MODUs) designed to meet the needs of the Indian market, the company informed.
This collaboration is in line with the government's efforts under the "Make in India" initiative.
Cochin Shipyard reported a 4% year-on-year (YoY) increase in net profit, totaling Rs 1.9 bn for the second quarter that ended 30 September 2024.
In the corresponding quarter of the previous fiscal year, Cochin Shipyard posted a net profit of Rs 1.8 bn.
The company's revenue from operations increased by 13% to Rs 1.1 bn, compared to Rs 10.1 bn in the corresponding period of the preceding fiscal year.
The shares of Cochin Shipyard have soared by 140.9% over the past year and by 90.5% in the current calendar year. However, they have declined by 20.4% and 37.3% over the past 6 and 3 months, respectively.
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