Latest Stock Market News

Benchmark 10-year U.S. Treasury yields hit a 16-year high of 4.49% on Thursday, while interest-rate sensitive 2-year yields hit a 17-year high of 5.2%. Bond yields move in the opposite direction of prices.

As the stocks rose this year, so did valuations. At the end of July, the 21-stock S&P 500 semiconductors and semiconductors equipment industry group was trading at 28.5 times forward 12-month earnings estimates, compared to its 10-year average P/E of 16.5 times, according to LSEG Datastream.

All sectors witnessed selling pressure, except for the media

​ Analysts have an average target price of Rs 938 on Lupin, signalling a 17% downside from current levels.​

Vedanta has two separate term loans of Rs 300 crore and Rs 1000 crore due on November 14, 2023, and on March 31, 2024, respectively. The fresh issues of bonds likely meet the capex requirements or repay these terms loans

In a separate release, the Competition Commission of India (CCI) approved the proposed acquisition of additional unit holding in Highways Infrastructure Trust by 2452991 Ontario Ltd.

Glenmark Pharmaceuticals will sell 9,18,95,379 shares in the subsidiary at Rs 615 a share. The 75% stake sale in Glenmark Life Sciences will trigger an open offer to the minority shareholders of the company, as per the regulatory norms

The Dow Jones Industrial Average falls 108.65 points; S&P 500 opens lower by 27.84 points, while Nasdaq Composite drops 141.07 points at the opening bell