Indian equity benchmarks will open on a flat note, as indicated by Nifty futures traded at Gift City in Gandhinagar. Nifty futures in Gift City fell 0.05 per cent or 7 points to 26,343 amid stable global cues.
Most Asian markets were trading higher as sentiment was boosted by China’s latest stimulus measures. Japan Nikkei rose 0.26 percent, Hong Kong’s Hang Seng advanced 2.23 percent, China’s Shanghai Composite rose 1 percent while South Korea’s KOSPI fell 0.3 percent.
Overnight, the S&P 500 notched a record close and the Dow and Nasdaq rose Thursday, as Micron Technology shares rose and a strong U.S. jobless claims report eased labor market concerns.
A string of strong U.S. economic data eased concerns that the Federal Reserve may be aggressively cutting rates to stem any slowdown.
Weekly jobless claims fell more than expected, indicating a stable labor market, while the final gross domestic product reading confirmed the economy grew 3 percent in the second quarter.
The benchmark S&P 500 index closed up 23.11 points, or 0.40 percent, at 5,745.37, after hitting a record intraday high of 5,767.37.
The Dow Jones rose 260.36 points, or 0.62 percent, to 42,175.11 and the Nasdaq gained 108.09 points, or 0.60 percent, to 18,190.29.
Back home, Sensex and Nifty hit new all-time highs on Thursday with Nifty closing at an all-time high of 26,216.05 and Sensex closing at an all-time high of 85,836.12.
Foreign institutional investors bought shares worth Rs 630 crore on Thursday and domestic institutional investors bought shares worth Rs 2,405 crore, National Stock Exchange data showed.
So far this month, FIIs have bought shares worth Rs 48,822 crore, according to NSDL data.
Actions to take into account
infosys : infosys announced a strategic engagement with Sally Beauty Holdings Inc., a US-based specialty beauty retailer. The partnership will create IT efficiencies through hyperautomation by delivering business value faster with the adoption of Infosys Topaz.
InterGlobe Aviation: InterGlobe Aviation appointed Isidro Pablo Porqueras Orea as Chief Operating Officer of InterGlobe Aviation. Effective November 1, 2024, he will replace Wolfgang Prock-Schauer, who will retire at the end of this year.
Torrente Pharmacists: Torrent Pharmaceuticals refuted allegations that its drug, Shelcal 500, had not passed the CDSCO quality test. The company said that the sample in question was a counterfeit and not manufactured by Torrent, and that all its products are developed in compliance with GMP and regulatory standards.
LIC: The insurer has announced the resignation of S Sunder Krishnan as chief risk officer with effect from September 25, 2024.
Indian Bank: The bank’s board approved raising up to Rs 5,000 crore through long-term infrastructure bonds in one or more tranches during the current or next financial year. This is in addition to Rs 5,000 crore already raised in FY2025.
Piramal Companies: Piramal Capital & Housing Finance, a subsidiary of Piramal Enterprises, sold its immovable property in Santacruz, Mumbai, for Rs 187 crore to Shoquba Realty.
Systematix Corporate Services: At the company’s Annual General Meeting, shareholders approved a share split, converting one equity share of face value of Rs 10 into 10 shares of face value of Re 1.
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