Latest Stock Market News

Shares of Adani Enterprises are likely to be in focus on Thursday after the company approved a share sale to large investors via qualified institutional placement.

Foreign portfolio investors turned net sellers at Rs 4,563 crore on Wednesday. DIIs bought shares worth Rs 3,509 crore.

Shares in Japan, South Korea and Australia climbed while Hong Kong equity futures also rose. An index of US-listed Chinese companies fell in New York trading, following the biggest drop in more than four years for mainland China’s benchmark index on Wednesday.

Wall Street stocks rose on Wednesday, with the S&P 500 and Dow reaching record highs after Federal Reserve meeting minutes were released. Alphabet shares dropped 1.5% amid potential antitrust actions. Investors are eyeing upcoming inflation data and the earnings season. Hurricane Milton threatens Florida while Boeing shares declined following union talks breakdown.

Oil prices increased on supply concerns in the Middle East and higher fuel demand due to a major storm in Florida. Israel is planning to strike Iran. U.S. President Biden discussed the issue with Israeli Prime Minister Netanyahu. A recent storm has raised demand for gasoline in Florida, contributing to higher crude prices.

Adani Enterprises has approved a Rs 4,200 crore share sale to large investors through a QIP issue, setting a floor price of Rs 3,117.4750 per share. The issue, managed by SBI Capital Markets Limited, Jefferies India Private Limited, and ICICI Securities Limited, aims to raise funds for the company.

Domestic markets closed lower as stocks like Varun Beverages, Suzlon Energy, and Torrent Power gained attention with notable movements. Analysts suggest potential gains for these stocks given the key support and resistance levels, indicating positive recovery trends if buying momentum continues.

Today marks the start of the second quarter earnings season. TCS, Tata Elxsi, IREDA, and other companies will declare their results for the September quarter. Brokerage firms expect TCS to show up to 8% year-on-year revenue growth. Key points include the BSNL deal ramp-up and commentary on the FY25 demand environment.

Eleven stocks, including BirlaSoft, Bandhan Bank, and Tata Chemicals, fall under the F&O trade ban as their open interest exceeds 95% of MWPL. Exiting the ban requires open interest to drop below 80%, with various stocks showing slight decreases in OI from the previous session.