Tag: nifty

NSE revises lot size for Nifty 50 derivative contracts by half; Revision also for Financial Services, Midcap

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The National Stock Exchange has revised the lot size for the Nifty 50 derivative contracts to 25 from the current lot size of 50.

The lot size of the Nifty 50 contracts was earlier slashed to 50 from 75 earlier in April 2021.

Additionally, the NSE has also revised the lot size for the Nifty Financial Services index to 25 from the earlier 40 and for the Midcap index to 50 from the earlier lot size of 75.

Lot size for the Nifty Bank has been left unchanged at 15.

However, one must note that these changes are not effective for the April F&O series, which expires on April 25.

All weekly, monthly, quarterly and half yearly expiries with the revised lot size will be available to trade from the May series for the Nifty 50.

The first weekly expiry of the revised contracts will take place on May 2, while the first Monthly expiry will take place on May 30.

For the Financial Services index, the revised lot size will be made available from the July F&O series and will have its first expiry on July 30, 2024. There is also no revision in the market lot of weekly contracts expiring until July 23, 2024. There is also no revision the market lot of existing monthly expiries between April-June.

Revised market lots for the Financial Services index weekly contracts will be available from August 2024.

For the Nifty Midcap index, there is no revision in market lots of existing monthly expiries until June 24, 2024. The first monthly expiry of the revised lot will be on July 29, 2024. Weekly contracts with expiry dates up to July 22, 2024 will also not see any revision in lot size.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex, Nifty close flat as banks, IT stocks drag but broader markets continue outperformance

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian shares snapped the three-day gaining run on Tuesday (April 2) with benchmark Sensex dropping by 110 points owing to profit-taking in select private banks and auto counters amid weak trends from the US markets and foreign fund outflows.

The benchmark 30-share BSE Sensex declined by 110.64 points, or 0.15%, to settle at 73,903.91. During the day, the index dropped by 270.78 points, or 0.36%, to a low of 73,743.77. The broader 50-share NSE Nifty dipped 8.70 points, or 0.04% to 22,453.30. Both Sensex and Nifty scaled lifetime high levels in intra-day trade on Monday before settling around 0.5% higher.

#RupeeAtClose | #Rupee ends at 83.39/$ against vs Thursday’s close of 83.40/$ pic.twitter.com/qwiXCYTQmC

— CNBC-TV18 (@CNBCTV18Live) April 2, 2024

From the Sensex basket, Kotak Mahindra Bank, HCL Technologies, ICICI Bank, Infosys, Tata Consultancy Services, Wipro, Tech Mahindra and Larsen & Toubro were the major laggards. Mahindra & Mahindra, Nestle, Tata Motors and IndusInd Bank were among the gainers.

Banking heavyweights and ITC majors weighed down on the Nifty, with ICICI Bank and TCS emerging as the top drags. The Nifty Bank slipped 33 points to 47,545 due to this drag.

On the positive side, Aditya Birla Fashion and Retail saw a significant surge, rising up to 16% following its announcement to demerge Madura Fashion. Another notable gainer was AB Capital, which rose more than 11% on a positive note from Macquarie.

In the automotive sector, Bajaj Auto and TVS Motor stocks witnessed gains, while Hero MotoCorp closed lower following the release of its March sales figures. Defence stocks saw a robust surge after a positive brokerage report, with BEL hitting a record high.

The Fast Moving Electrical Goods (FMEG) sector also witnessed an upward trend, driven by IMD’s commentary on an upcoming heatwave, with Voltas leading the pack with a rise of more than 3%. Mahindra & Mahindra Financial Services ended nearly 4% higher on the back of its March business update, showcasing a strong performance.

Cement stocks staged a sharp recovery on reports of an impending price hike, contributing to the overall positive sentiment in the market. In the real estate sector, Godrej Properties and Oberoi saw gains, while DLF fell following a brokerage note. The NSE advance-decline ratio stood at 4:1.

In Asian markets, Shanghai settled lower while Tokyo, Seoul and Hong Kong ended in the positive territory. European markets were trading mostly in the green. Wall Street ended mostly lower on Monday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹ 522.30 crore on Monday, according to exchange data. Global oil benchmark Brent crude climbed 1.61% to $88.83 a barrel.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at Close | Sensex, Nifty hit record intra-day highs as bourses begin new fiscal with a flourish

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian stock markets started the new fiscal on a firm note on Monday (April 1) with benchmark Sensex and Nifty scaling fresh record high levels in intra-day trade before settling in the green, backed by firm trends in Asian markets and foreign fund inflows.

Extending its winning momentum to the third day in a row, the 30-share BSE Sensex jumped 363.20 points or 0.49% to settle at 74,014.55. During the day, it zoomed 603.27 points or 0.81% to hit its record intra-day high of 74,254.62.

The NSE Nifty climbed 135.10 points or 0.61% to 22,462. During the day, it jumped 203.05 points or 0.90% to hit the all-time peak of 22,529.95.

The Midcap Index was the star performer of the day, surging nearly 2% to close at 48,912. Despite the positive momentum, both the Midcap Index and Nifty Bank remain nearly 1,000 points away from their respective record highs.

From the Sensex basket, JSW Steel, Tata Steel, UltraTech Cement, NTPC, Larsen & Toubro and HDFC Bank were the major gainers. Titan, Nestle, Bharti Airtel and IndusInd Bank were among the laggards.

The market breadth remained firmly in favour of advances with the NSE advance-decline ratio standing at 8:1. Metal stocks were in focus, surging on the back of healthy manufacturing data from China. The Nifty Metal Index was up by 4%.

However, the auto sector faced some headwinds due to mixed sales figures for March, with Eicher Motors declining nearly 2%. Rising gold prices boosted shares of Muthoot and Manappuram Finance, with both stocks gaining 5% each.

On the other hand, FMCG stocks were under pressure ahead of monthly updates, with Titan and Godrej Consumer emerging as the top losers. Coal India saw its stock rise by more than 2% following its March and FY24 business updates. Indus Towers also ended the day on a positive note, surging nearly 8% after a positive brokerage report.

Real estate developer Prestige Estates saw its shares jump 8% after the company raised ₹2,001 crore from ADIA and Kotak AIF. Meanwhile, PNB Housing Finance rallied 13% following rating upgrades from CARE and ICRA. GM Breweries was up by over 12% after the company announced plans to consider a bonus issue.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Nifty April Series: Here’s how positions are stacked up and the key triggers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The April F&O series for the Nifty 50 and Nifty Bank contracts begins on Monday, April 1. The March F&O series ended on a positive note for the Nifty with the index closing the series with gains of 344 points. However, it was a volatile series to say the least. 203 out of those 344 points on the Nifty came during the expiry session last Thursday.

This turned out to be the fourth positive F&O series for the Nifty in the last five months. The index had gained over 600 points during the February series, having dropped over 400 points in January.

However, the rollovers for the Nifty 50 are the lowest in at least the last five months. The 70% figure is also lower than the three-month average of 80%.

Historically, April has been a positive series for the Nifty 50, as barring April 2022, the index has delivered positive returns in three out of the last four April series.

The Nifty 50 open interest at the start of the April series is also the lowest since December last year. Open Interest in the index stood at 1.07 crore shares, compared to 1.31 crore shares in March. Open Interest last December stood at 99 lakh shares.

The net long exposure of foreign investors in the index futures is at 45% at the start of the new series, compared to 35% in March. This is also the highest figure since the start of the January F&O series this year.

A note from Nuvama Alternative & Quantitative Research said that the April series typically exhibits a stronger bias towards the Nifty Bank as historical data suggests that 70% of the instances over the last 10 April’s have delivered an average positive returns of 3%.

“Currently, the positioning in banking appears to be heavily short, indicating the potential for some covering-led action. However, around 48,400, one can consider setting up short positions, as significant outperformance is not seen,” the note said.

Here are some of the key triggers for the April series:

• Its the start of the new financial year and a new quarter. Companies will start reporting their business updates and quarterly results of the January-March period.
• The RBI Monetary Policy outcome will also be keenly awaited on April 5.
• The seven-phase Lok Sabha elections begin on April 19.
• Global markets and central banks commentary will also have focus.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell | Market closes in the green but sharply off highs amid positive global cues

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian stock market witnessed a mixed day of trading on Thursday (March 28) as it closed in the green, but significantly retreated from the day’s highs. Nifty struggled to maintain levels above 22,500 and Sensex above 74,000, which were both seen intra-day.

Monthly expiry seemed to have triggered a sharp fall in the last trading hour, causing both the Sensex and Nifty to close around 1% lower than their highs. The Sensex managed to rise by 655 points, settling at 73,651, while the Nifty gained 203 points to close at 22,327.

The Nifty Bank surged 339 points, ending the day at 47,125, and the Midcap Index added 238 points to reach 48,076. With the exception of the Nifty Media Index, all other sectors posted gains today, with the PSU and pharma sectors leading the rally. Impressively, 44 out of the 50 Nifty stocks ended the day in the green.

Bajaj Finance and Bajaj Finserv continued to build on Wednesday’s gains, driven by reports of a housing finance IPO. Meanwhile, Grasim, L&T, Adani Ports, Sun Pharma, and Maruti Suzuki reached record highs.

On the other hand, Hero MotoCorp and Eicher Motors saw gains, but Bajaj Auto slipped ahead of its monthly sales data release. Shriram Finance experienced a decline, closing in the red on the first day of its inclusion in the Nifty Index.

Bank of Maharashtra saw a significant rise of more than 5% after the company appointed a new Managing Director and CEO. Aegis Logistics and PG Electro attracted buying interest following positive brokerage notes.

Astra Micro soared by 9% after securing a ₹385 crore order from BEL. Conversely, IDFC First Bank ended 3% lower after 2.6% of its equity changed hands in a block deal.  The market’s breadth remained neutral due to the late-hour fall, with the advance-decline ratio standing at 1:1.

In Asian markets, Shanghai and Hong Kong settled in the positive territory while Tokyo and Seoul ended lower. European markets were trading mostly in the green. Wall Street ended higher on Wednesday.

The S&P 500 climbed 0.9% to a record 5,248.49 in its first gain since setting its last all-time high on March 21. Global oil benchmark Brent crude climbed 0.42% to $86.40 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹2,170.32 crore on Wednesday, according to exchange data. Equity markets would remain closed on Friday for ‘Good Friday’.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Nifty to stay in 21,850-22,250 range near term, Gautam Shah expects these two sectors to shine

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Gautam Shah, Founder and Chief Strategist, Goldilocks Premium Research believes it is not going to be easy for the Nifty to break the 21,850-22,250 range in the near term given the limited participation from some heavyweights.

“In December,  IT, Reliance Industries (RIL) and banks did well and that is probably the reason the Nifty gradually moved to levels of 22,000 and beyond. For the last month, it is just the burden on RIL to keep this market safe. Banks have come off in the last 15 days and HDFC does not outperform. The move on the IT index in the last week has been discouraging,” he said.

Shah expects the pharma and metals spaces to be outperformers in the next three to six months.

He sees a 20% move in the metals index over the next six to twelve months and within the metal space two public sector units (PSUs)–NALCO and SAIL–stand out.

“Both these stocks have the potential to register supernormal gains this year,” he said.

In the pharma sector, he expects a 15% move on the pharma index from here. Sun Pharma remains his top pick. Cipla, Dr Reddy’s Laboratories, and Zydus Lifesciences all have great charts and will continue to outperform, he mentioned.

Also Read | Nifty Smallcap index sees worst week since Dec 2022; 87 out of 100 stocks post losses

Discussing IT stocks, he mentioned that he has been a bull on the IT space for the last six months. Tata Consultancy Services (TCS), and HCLTech remain on top of his list.

However, he is concerned about the big debate around artificial intelligence (AI) and whether it is going to disrupt the IT space in general and the Indian IT services space.

“Apart from the top two three names, I want to stay away from the IT space till things stabilise,” he said.

He also discussed a couple of commodity bets.

Nymex crude, he said, is gradually moving towards the level of $90-95 per barrel given what it has done in the last one to one and a half months.

“There are some near-term risks but it is a battle between short-term and long-term. Short-term there are concerns, medium-term and long-term this is a great opportunity to do your homework and pick quality stocks to play the next wave up,” he explained.

Also Read | Oil declines as industry report shows sizable US stockpile build

He expects the chemical index to see a breakout on the upside and stocks like Aarti Industries, and SRF could be potential beneficiaries.

For more, watch the accompanying video

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex and Nifty stage strong recovery, Reliance and HDFC Bank lead the charge

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian stock market witnessed a strong rebound on Wednesday (March 27), recouping losses from the previous session. The Sensex surged by 526 points to close at 72,996, while the Nifty climbed 119 points to settle at 22,124.

The rally was driven by robust gains in heavyweight stocks like Reliance Industries and HDFC Bank. Reliance Industries, buoyed by another positive brokerage note, approached its record high. Meanwhile, HDFC Bank also played a pivotal role in the market recovery.

Maruti, Bajaj Finance, Titan, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, Mahindra & Mahindra and Larsen & Toubro were among the major gainers. Wipro, HCL Technologies, Nestle, Tata Consultancy Services and Tata Motors were among the laggards.

The Nifty rejig in the final trading hour spurred a sharp movement in UPL and Shriram Finance, adding to the market’s volatility. This led to a mixed bag of results for the midcap segment, with the Midcap Index ending the day on a flat note at 47,837 points.

Ahead of the monthly sales data release, the automobile sector saw increased buying interest. Maruti Suzuki India and Bajaj Auto emerged as the top gainers in this segment.

Lupin Pharmaceuticals ended the day on a sour note, closing at its day’s low, after receiving a tax demand of ₹477 crore for the assessment year 2021-22. Gravita, Info Edge, and ABB saw significant gains, rising up to 7%, following encouraging brokerage reports. Additionally, Suzlon Energy experienced a 4% uptick as CRISIL upgraded the company’s rating.

On the flip side, CDSL and Aster DM Healthcare bore the brunt of major block deals, witnessing a decline of 7% each. The underperformance of the midcap stocks weighed on the market breadth, with the NSE advance-decline ratio standing at 3:4.

In Asian markets, Tokyo settled in the positive territory, while Seoul, Shanghai and Hong Kong ended lower. European markets were trading on a mixed note. Wall Street ended in negative territory on Tuesday.

Global oil benchmark Brent crude declined 0.96% to $85.42 a barrel. Foreign Institutional Investors (FIIs) turned net buyers on Tuesday, as they bought equities worth ₹10.13 crore, according to exchange data.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex falls 362 points, midcaps outperforming frontliners

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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.The benchmark equity indices Sensex and Nifty declined on Tuesday (March 26) due to losses in index major Reliance Industries and HDFC Bank amid sustained foreign fund outflows and mixed global trends.

The 30-share BSE Sensex declined by 361.64 points or 0.50% to settle at 72,470.30. During the day, it fell by 468.91 points or 0.64% to 72,363.03. The NSE Nifty declined 92.05 points or 0.42% to 22,004.70.

The Nifty Bank, in particular, remained under pressure due to the fall in heavyweights like HDFC Bank and Kotak Mahindra Bank. The Nifty Bank fell by 264 points to 46,600. Contrarily, the Midcap Index saw a robust rise, gaining 495 points to reach 47,808.

From the Sensex basket, PowerGrid, Bharti Airtel, Wipro, HDFC Bank, Kotak Mahindra Bank, UltraTech Cement, Asian Paints, Infosys and Reliance Industries were the major laggards. Bajaj Finance, NTPC, Larsen & Toubro, Axis Bank, Tata Motors, IndusInd Bank and Bajaj Finserv were among the gainers.

Several sectors witnessed buying interest today, with the realty and railway sectors leading the pack. Stocks in these sectors rose by up to 5%. Adani Ports caught investors’ attention and saw its stock rise by 2% following its announcement to acquire Gopalpur Ports.

Bajaj Finance remained a favourite among investors and ended as the top gainer on the Nifty, rising by 2%. SpiceJet shares surged by 5% after the company settled liabilities worth ₹755 crore with Export Development Canada (EDC). IndiGo hit a record high today, buoyed by a positive brokerage note.

The diagnostic stocks also enjoyed a surge today after a positive note from Kotak Institutional Equities, with Dr Lal PathLabs emerging as the top gainer. HDFC Life and Max Financial saw a rise in their stock prices following the Insurance Regulatory and Development Authority of India (IRDAI)’s final guidelines on surrender value.

Avenue Supermarts and Skipper witnessed a rise of up to 7% on the back of a brokerage upgrade. Meanwhile, Mankind Pharma, after witnessing lows, managed to end in the green with a 6% rise, following block deals that accounted for 3% equity.

RK Swamy fell by 10% from its highs after reporting muted Q3 earnings. The market breadth leaned towards declines, even with the midcap outperformance. The NSE Advance-Decline ratio stood at 1:2.

In Asian markets, Tokyo settled lower, while Seoul, Shanghai and Hong Kong ended in the positive territory. European markets were trading mostly in the green. Wall Street ended lower on Monday. Global oil benchmark Brent crude dipped 0.17% to $86.60 a barrel.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Stock markets rise for 3rd session, Sensex gains 190 points

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Benchmark equity indices Sensex and Nifty closed higher for the third straight session on Friday (March 22), following gains in index majors L&T, ITC and Maruti and a record rally in the US markets after the Federal Reserve indicated three rate cuts this year.

After falling in early trade, markets staged a smart recovery. The 30-share BSE Sensex climbed 190.75 points, or 0.26%, to settle at 72,831.94. However, a sharp correction in IT and tech stocks limited the rise. During the day, it jumped 474.43 points, or 0.65%, to 73,115.62.

All sectoral indices, except for IT, closed in green. The Nifty FMCG sector saw a rise of 2%. The NSE Nifty advanced 84.80 points, or 0.39%, to 22,096.75. The BSE-listed companies gained a market capitalisation of ₹2.3 lakh crore on Friday.

From the Sensex basket, Sun Pharma, Maruti, IndusInd Bank, Titan, ITC, Tata Motors, Larsen & Toubro and JSW Steel were the major gainers. On the other hand, Infosys, Wipro, HCL Technologies, Tata Consultancy Services, Tech Mahindra and Bajaj Finserv were among the laggards.

However, IT stocks faced a setback, falling by up to 3% after Accenture lowered its guidance. On the brighter side, Amber Enterprises ended 4% higher following a stock upgrade by CLSA to ‘Buy’. Neuland Labs saw a 6% rise after receiving no observations from the US FDA for its Hyderabad unit.

Furthermore, KEC International, Man Infra, and Welspun Corp witnessed a surge in their stock prices due to winning new orders. The market breadth remained in favour of advances, with the advance-decline ratio standing at 2:1.

In Asian markets, Seoul, Shanghai and Hong Kong settled lower, while Tokyo ended in the positive territory. European markets were trading on a mixed note. Wall Street tapped fresh record peaks on Thursday. Global oil benchmark Brent crude dipped 0.22% to $85.59 a barrel.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market at close | Sensex, Nifty surge amid global markets rally on US Fed rate cut plans

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The benchmark equity indices Sensex and Nifty surged nearly 1% on Thursday (March 21) in tandem with a rally in global markets after the US Fed projected three rate cuts this year.

Rising for the second day, the 30-share BSE Sensex jumped 539.50 points or 0.75% to settle at 72,641.19. During the day, it zoomed 780.77 points or 1.08% to 72,882.46. The NSE Nifty climbed 172.85 points or 0.79% to 22,011.95.

The Midcap Index emerged as a standout performer, breaking a four-day losing streak and reclaiming losses incurred over the previous sessions. With Midcap stocks rallying more than 2%, the market breadth tilted overwhelmingly in favour of advances.

From the Sensex basket, NTPC, Power Grid, IndusInd Bank, Tata Steel, Tata Motors, JSW Steel, Tech Mahindra and Larsen & Toubro were the biggest gainers. Bharti Airtel, Maruti, ICICI Bank and Asian Paints were the laggards.

Public sector undertakings (PSUs) witnessed a resurgence in investor interest, with the Nifty PSE soaring by 4% and the CPSE Index recording a 3% uptick. Except for ONGC, all components of the PSE Index closed higher, with notable gainers including PFC, REC, Nalco, BHEL, and BEL.

Oil marketing companies experienced a notable uptick, with all three major stocks witnessing a 4% increase. Meanwhile, the Midcap IT sector surged on the back of the Fed’s dovish tone, with companies like LTTS and Intellect emerging as top gainers.

The rupee faced pressure against a surging dollar, which propelled stocks like Muthoot Finance and Manappuram to new heights. The BSE index itself surged by 10%, buoyed by a positive brokerage note. 164 stocks on the NSE hit upper circuit limits and 17 stocks reached record highs. The advance-decline ratio on the NSE stood at 5:1.

In Asian markets, Seoul, Tokyo, and Hong Kong settled significantly higher while Shanghai ended lower. European markets were trading in positive territory. Wall Street ended with remarkable gains on Wednesday. The S&P 500 jumped to an all-time high. The Dow Jones Industrial Average and the Nasdaq Composite also hit record-high levels.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow