Informist, Thursday, Jul. 31, 2025 Tel +91 (22) 6985-4000

Equity Alert: Nifty 50 Aug ends at 100.15-point premium to spot index

MUMBAI--1709 IST--The August futures contract of the Nifty 50 closed at a premium of 100.15 points to the spot index Thursday. Open interest in the contract rose 27.2% to 16 million, according to provisional data.

--Nifty 50 closed at 24768.35 points, down 86.70 points or 0.4% vs Wed
--Nifty 50 Aug closed at 24868.50 points, down 90.60 points or 0.4% vs Wed

Nifty 50 options, expiring Aug. 7, with maximum change in open interest:

Call: 24800, Put: 23000

Nifty 50 options, expiring Aug. 7, with maximum open interest:

Call: 25500, Put: 24800

(Simran Rede)

Equity Alert:European mkts mixed after initial rise; traders assess earnings

MUMBAI--1644 IST--European equity indices were mixed Thursday after most indices started the session on a positive note. The buoyant start was due to upbeat corporate earnings, mainly from French defence equipment maker Safran and British luxury automaker Rolls-Royce. Investors also monitored for further deals as the deadline for US tariffs approached.

Safran rose 5?ter raising its full-year profit outlook, Reuters reported. Rolls-Royce surged over 8?ter raising its full-year outlook for operating profit and free cash flow. Both stocks hit all-time highs during the session. "What's driving the equities markets is that we are at the peak of the earnings season," Reuters reported Christoph Berger, chief investment officer of European equity at Allianz Global Investors, as saying. "The perspective of most European market participants is now more on 2026 and that will be the time when you see the impact of the fiscal stimulus in Germany but also more measures related to European sovereignty."

Post the trade deal between the US and the European Union over the weekend, the outlook for second-quarter earnings has improved. STOXX 600 companies are likely to report growth of 1.8% in second-quarter earnings, a big improvement from the 0.3?ll analysts had expected a week ago, Reuters reported.

Bank stocks rose again, with French Societe Generale rising 7?ter it raised its annual profit guidance. Standard Chartered reported a higher-than-expected rise in profit for the quarter, while Spanish bank BBVA gained 8?ter its second-quarter net profit beat expectations.

Following were the levels of major European indices at 1640 IST:

(Akash Mandal)

Equity Alert: Mkt fails to hold on to recovery, ends lower amid tariff woes

MUMBAI--1544 IST--Benchmark indices ended in the red as the market failed to hold on to its intraday recovery as stocks came under pressure after US President Donald Trump announced a 25% tariff on Indian goods. Investors also likely factored in the sharp comments by Trump on social media, where he blamed India's high non-tariff barriers and close relationship with Russia. The Nifty 50 and BSE Sensex ended 0.4% lower each at 24768.35 points and 81185.58 points. The 50-stock index was dragged down by heavyweights Reliance Industries, HDFC Bank and Bharti Airtel.

Shares of Adani Enterprises fell over 4% and were the biggest loser in the Nifty 50 after the company's consolidated net profit nearly halved on year in the June quarter. Shares of Tata Steel, Dr Reddy's Laboratories and Sun Pharmaceutical Industries fell about 2?ch. Hindustan Unilever was the biggest gainer, closing over 3% higher after the company reported a higher-than-expected bottom line for the June quarter. Jio Financial Services gained nearly 3% as the company's board on Wednesday approved raising up to INR 158.25 billion through warrants.

Nifty Oil & Gas ended 1.5% lower and was the biggest loser among sectoral indices. Trump said Wednesday that India, along with China, has been Russia's largest buyer of energy and expressed concerns over India's trade relations with Moscow. Nifty Energy ended nearly 1% lower. Nifty FMCG and Nifty Media were the only sectoral indices that ended in green, rising 1.4% and 0.1% respectively.

Sagility India and Kaynes Technology India closed 9-10% higher and were the biggest gainers in the Nifty 500 index. Kaynes Technology's shares rose higher after its top line and bottom line for the June quarter rose sharply on year. Shares of HEG rose over 7% after the company posted strong earnings for the June quarter. Apar Industries was the worst performer of the Nifty 500, falling nearly 8%. Hindustan Copper ended nearly 6% lower. (P. Madhu Kumar)

Equity Alert: Sonata Soft hits 2-month low; Q1 result disappoints analysts

MUMBAI--1438 IST--Sonata Software fell nearly 7% to an over-two-month low of INR 386.55 despite the company posting a slightly higher consolidated net profit for Apr-Jun from a quarter ago. The stock fell after rising for two sessions. AT 1438 IST, the stock was down 5.3% at INR 392.05.

The company reported a nearly 2% rise on quarter in consolidated net profit to INR 1.09 billion for Apr-Jun. Sonata Software's revenue rose over 13% as compared to the March quarter to INR 29.65 billion. On a year-on-year basis, the net profit was up 3.5% and revenue rose more than 17%.

Emkay Global Financial Services said the company's revenue fell short of its estimates. However, the brokerage said growth in the June quarter was led by a large technology, media, and telecom deal ramp-up, continued strength in high-level synthesis, and demand for data and artificial intelligence services. The broking firm has retained its 'buy' rating on the stock and kept the target price unchanged at INR 475.

IDBI Capital Equity Research said the company's growth was driven by a modernised strategy that anchored in artificial intelligence, data platforms, and engineering that continued to scale up. This was also supported by partnerships with Microsoft, AWS, Wharton, and IISc. The brokerage had downgraded its rating on the stock to 'hold' due to the recent rally in the stock price. It has valued the stock at 18.7 times the estimate for earnings per share of 2026-27 (Apr-Mar) with target price unchanged at INR 465.

All eight brokerage reports available on the company have a 'buy' rating with an average target price of INR 556. Nomura Global Markets Research has the highest target price of INR 829, which is over 111% higher than the current share price. The stock was among the worst hit in the Nifty 500 index. (P. Madhu Kumar)

Equity Alert: Most Asian mkts end in red; 15% tariff on South Korea weighs

MUMBAI--1431 IST--Most Asian equity markets closed in the red Thursday, tracking fall in US stocks as doubts rose on Wall Street on whether the US Federal Reserve will cut interest rates in September, after it held interest rates steady for the fifth consecutive time on Wednesday. A weaker than expected Purchasing Managers' Index from China and US President Donald Trump announcing a 15% blanket tariff on imports from South Korea dampened broader market sentiment.

However, Japan's benchmark indices, the Nikkei 225 and TOPIX, closed higher after the Bank of Japan decided to hold short-term interest rates at 0.5% for the fourth consecutive time, in line with expectations, and raised inflation projections.

The Kospi closed 0.3% lower after South Korea reached a 15% tariff deal with the US, with no levies on American goods like cars, trucks and farm products. The deal also includes South Korea's purchase of $100 billion of US energy imports and $350 billion worth of investments in the US.

Mainland China's CSI 300 index closed 1.8% lower and Hong Kong's Hang Seng ended 1.6% lower. China's Manufacturing Purchasing Managers Index fell by 0.4 points to 49.3 in July, staying below the breakeven 50 mark for the fourth month, affected by traditional off-season, high temperatures, heavy rains, and floods in some areas.

Following are the levels of key Asian indices at 1421 IST:

(Arya S. Biju)

Equity Alert: Textile stocks slump after Trump's 25% tariff on Indian goods

MUMBAI--1325 IST--Shares of textile companies traded lower Thursday after US President Donald Trump said the US would charge a 25% import tariff on Indian goods, along with potential penalties due to oil and defence purchases from Russia. Shares of textile manufacturers and exporters, including Faze Three, Pearl Global Industries, Gokaldas Exports, Welspun Living, Vedant Fashions, and Indo Count Industries, fell 4-11% intraday. Currently, the US is India's largest market for textile and apparel exports.

Analysts expect around 30–50% of the tariff's impact to be absorbed by Indian exporters, with the remainder falling on US importers and consumers. "Key sectors such as pharmaceuticals, textiles, auto parts, and engineering goods will face margin pressures, with India's GDP growth projected to take a mild hit of 0.3–0.4% if the tariffs persist," brokerage Anand Rathi Share and Stock Brokers said in a strategy report Thursday.

ICICI Securities expects the 25% tariff to lead to down-trading, lower realisations due to the sharing of tariffs with suppliers, and thus an impact on profitability of textile companies in the near term. However, in the medium to long term, it expects export orders to normalise once the impact of tariffs is absorbed, as US tariffs on Indian goods are competitive with other major exporting countries. Further, Indian textile companies will focus on expanding to other markets, including the UK, European Union and West Asia in the coming years and this is expected to keep their long-term business fundamentals intact, the brokerage said. (Arya S. Biju)

Equity Alert: Zen Tech hits 5% lower circuit, down for 4th day post results

MUMBAI--1236 IST--Shares of Zen Technologies hit the 5% lower circuit for the third consecutive session and hit a near three-month low of INR 1,449.60. The stock has been trading lower for the fourth consecutive session after the company reported a sharp decline in its June quarter earnings. At 1236 IST, the stock was down nearly 3% at INR 1,481.50 on the NSE.

The stock has been trading lower for the sixth straight session, falling almost 24% during this period. This will also be the second consecutive month that the stock will be closing lower. Almost 2 million shares of the company changed hands on the bourse so far Thursday, 20 times the 98,000 shares traded during the same period Wednesday.

A sharp decline in the company's expenses could not aid the top line as weak demand hit its revenue for the June quarter. On Saturday, the company reported an almost 38% on-year fall in its consolidated net profit as well as revenue at INR 477.53 million and INR 1.58 billion, respectively. Its total expenses fell almost 30% on year to INR 1.03 billion.

Of the four research reports available on the company with Informist, two have a 'buy' or equivalent rating on the stock and the other two have a 'hold' view. (Anjana Therese Antony)

Equity Alert: Waaree Energies dn 6% amid high US tariff, ongoing legal woes

MUMBAI--1219 IST--Shares of Waaree Energies fell 6% to an intraday low of INR 2,955 as higher-than-estimated US tariffs likely weighed on sentiment surrounding the stock. The company has also recently been accused of "cheap dumping" of solar panels in the US. At 1214 IST, the stock traded 4.4% lower at INR 3,004.

Waaree Energies has a significant exposure to the US market, and thus will be affected by the tariffs. Another solar module maker with a high exposure to the US, Premier Energies, was also down nearly 3%. Waaree has also been embroiled in legal battles as the US Commerce Department said it is reviewing a petition by a group of domestic US solar companies seeking tariffs on imports from India, Indonesia, and Laos due to allegations of cheap duming by companies in the US market and undercutting local prices.

US President Donald Trump announced a 25% tariff on Indian imports on the same day when Waaree Energies had said the demand outlook in the US remains robust, calling it a "multi-decadal opportunity." At 1214 IST, 2.71 million shares of the company were traded on the NSE, sharply higher than the 1.69 million shares traded till the same time Wednesday. (Akash Mandal)

Equity Alert: HEG surges to near-eight-mo high post strong Apr-Jun earnings

MUMBAI--1200 IST--HEG rose 12% to a near eight-month high of INR 597.80 and was the top gainer on the Nifty 500. The stock rose after its net profit for the June quarter increased dramatically. The growth in the net profit was on the back of a fall in total expenses. The company's board had approved the expansion plan for the graphite electrodes and related products with an INR 6.50 billion investment.

For Apr-Jun, HEG reported a net profit of INR 718 million, significantly higher than INR 25.8 million posted a year ago. In Jan-Mar, the company had posted a net loss of INR 616.8 million. Revenue from operations for the quarter rose 7.2% on year to INR 6.13 billion.

At 1157 IST, shares of HEG were at INR 594.10, up 11.2%. More than 17.38 million shares were traded so far, sharply higher than 229,792 shares traded during same time on Wednesday. (Gopika Balasubramanium)

Equity Alert: M&M recovers post early fall; Q1 PAT beats Street's view

MUMBAI--1154 IST--Shares of Mahindra & Mahindra rose nearly 1% to a high of INR 3,238.20 after the company posted better-than-expected June quarter earnings. However, the stock fell over 2% to an intra-day low of INR 3,135.60 in early trade. The company posted its highest net profit growth in four quarters with a 32% on-year rise in its bottom line for Apr-Jun to INR 34.50 billion. At 1151 IST, the stock was trading 0.2% higher at INR 3,216.20.

Global brokerage firm Jefferies maintained a 'buy' on the stock with a target price of INR 4,000 per share citing strong fundamentals and consistent performance, CNBC-TV18 reported. The brokerage said the company continued to gain market share in the sport utility vehicle segment and the tractor demand has also improved.

The company's chief executive officer, Anish Shah, told CNBC-TV18 that their focus for the tractor industry is now on execution rather than market share, and the growth of the company is broad-based and driven by all businesses.

Mahindra & Mahindra's management said it is "comfortably placed" on rare earth magnet supplies and is likely to not face any problems in production till the March quarter of FY26. The automotive major expects its sport utility vehicle sales to grow in mid-to-high teens in 2025-26 (Apr-Mar) amid subdued demand for passenger vehicles.

At 1151 IST, over 2.72 million shares of the company changed hands on the NSE as against 534,210 shares traded till the same time Wednesday. Out of the 19 brokerage reports available on the company with Informist, 18 brokerages have a 'buy' or equivalent rating with an average target price of INR 3,474. Only one brokerage has a 'hold' rating with a target price of INR 3,254. (P. Madhu Kumar)

Equity Alert: Kaynes Tech hits 10% upper band; Q1 PAT beats Street's view

MUMBAI--1147 IST--Shares of Kaynes Technology India hit a 10% upper band at a near one-month high of INR 6,201.50 after its top line and bottom line for the June quarter rose sharply on year, with the bottom line beating the Street's expectations. At 1143 IST, the stock was paused for trading after triggering the upper band and was among the top gainers in the Nifty 500.

The Mysore-based information technology services provider's consolidated net profit rose 47% on year to INR 746.12 million. Analysts had estimated the net profit to be INR 698.14 million. Its consolidated revenue rose 34% on year to INR 6.73 billion. The company's earnings before interest, tax, depreciation, and amortisation margin expanded 350 basis points on year to 16.8%.

At 1144 IST, 1.77 million shares of the company were traded on the NSE, sharply higher than the 381,365 shares traded till the same time Wednesday. (Akash Mandal)

Equity Alert: Indus Towers plunges 6?spite beating Q1 PAT estimate

MUMBAI--1135 IST--Shares of Indus Towers fell nearly 6% to an intraday low of INR 361.55 after the company posted weak June quarter results across multiple parameters, despite its bottom line beating analysts' expectations. As of 1121 IST, the stock traded 4% lower at INR 368.60.

The company's earnings before interest, tax, depreciation, and amortisation came in at INR 43.90 billion for the quarter, down 3.4% on year. The EBITDA margin also declined 240 basis points on year to 54.5%. While Indus Towers' consolidated net profit of INR 17.37 billion for the quarter came in above the consensus of INR 16.67 billion, it fell over 3% sequentially. Its monthly sharing revenue per tower fell over 2% on quarter to INR 67,036.

At 1121 IST, over 6 million shares of the company were traded on the NSE, sharply higher than the 802,176 shares traded till the same time Wednesday. Investors will now eye the analyst conference call of the company scheduled for 1430 IST. (Akash Mandal)

Equity Alert: HUL rises to 6-mo high; Apr-Jun net profit beats Street's view

MUMBAI--1103 IST--Shares of Hindustan Unilever rose 4% to a near six-month high of INR 2,536.90 after its bottom line for the June quarter saw robust growth on year and came in above the Street's expectations. At 1059 IST, the stock recovered from its early rose and traded 3.7% higher at INR 2,526.50. The stock is currently the top gainer in the Nifty 50.

The company reported a net profit of INR 27.32 billion for the June quarter, up 8% on year and higher than analysts' estimates of INR 25.52 billion. The fast-moving consumer goods giant managed to register an eight-quarter high revenue growth to INR 157.47 billion during the reporting quarter, slightly lower than the estimate of INR 159.1 billion. While the earnings before interest, tax, depreciation, and amortisation margin fell 120 basis points on year and gross margin fell 190 basis points in the June quarter, the company expects gross margin to improve in the next quarter.

At 1059 IST, 2.50 million shares of the company were traded on the NSE, sharply higher than the 335,847 shares traded till the same time Wednesday. Of the 22 brokerage reports on the company available with Informist, 16 have a 'buy' or equivalent rating on the stock, four have a 'hold' or equivalent rating while two have a 'sell' or equivalent rating. (Akash Mandal)

Equity Alert: Brigade Hotel lists at INR 81.1, discount of 10% to issue price

MUMBAI--1040 IST--Brigade Hotel Ventures listed at INR 81.10 at a discount of 10% to its issue price of INR 90. At 1028, the company's shares were at INR 84.34, down 5.7% from its issue price, with more than 10 million shares having changed hands.

The company's initial public offering was subscribed 4.48 times as of the final day. The company raised INR 3.25 billion by issuing 36.08 million shares to anchor investors ahead of the public issue.

Brigade Hotel develops and owns hotels in key south Indian cities. Its portfolio includes nine operational hotels in Bengaluru, Chennai, Kochi, Mysuru, and GIFT City in Gandhinagar. Global hospitality brands, including Marriott, Accor, and InterContinental Hotels Group, manage these properties. (Gopika Balasubramanium)

Equity Alert: Auto parts makers fall as high US tariff weighs on sector

MUMBAI--1015 IST--Shares of automobile ancillary companies such as Bharat Forge, Samvardhana Motherson International and Balkrishna Industries were down 1-3%, weighed by higher-than-expected tariff imposed by the US. Many other automakers were also in the red as they have some exposure to the US market. At 1001 IST, the Nifty Auto was 0.8% lower at 23562.05 points.

"Domestic forging companies (Bharat Forge and Ramkrishna Forgings) have large exposure to US given their components find application in US – Class 8 trucks...this along with transmission component companies such as Sona BLW Precision Forgings (43% of revenues) will be affected by this tariff news," ICICI Direct Research said in a report. "...the present news of blanket reciprocal tariff is incrementally negative for other auto component players such as Balkrishna Industries (US share of revenues pegged at 17% for Q1FY26)," the brokerage added.

The tariffs dent the export outlook for most players counting on exports to outgrow peers amid slowing sales in the domestic market, the brokerage said. "This development could also alter global trade with possibility of auto components manufactured by other countries being directed towards India," it added. (Akash Mandal)

Equity Alert: Mkt opens sharply lower as US tariff weighs; most sectors fall

MUMBAI--0937 IST--Benchmark equity indices started the session sharply lower as higher-than-expected tariff imposed by the US weighed on the market. Even as negotiations between India and US have dragged on for weeks, the US imposed a 25% tariff on the country, only slightly lower than the 26% that US President Donald Trump had announced earlier.

At 0931 IST, the Nifty 50 was at 24710.15 points, down 144.90 points or 0.6%, and the BSE Sensex was at 80982.70 points, down 499.16 points or 0.6%. The Nifty 50 recovered a bit after falling to 24600 point levels during pre-open, with most stocks in the red. Heavyweights such as Reliance Industries, State Bank of India, and Larsen & Toubro were down around 1?ch.

Tata Motors was down 3% in early trade and was the worst hit in the Nifty 50. While Nuvama Institutional Equities saw the company's acquisition of commercial vehicles maker Iveco Group as a positive, it flagged the possibility of a sales down-cycle in Europe and US markets as a big risk for the company.

Most sectoral indices were in the red, with the Nifty Oil & Gas, Nifty Consumer Durables, Nifty Auto and Nifty Infrastructure being the worst hit. All broader market indices were also sharply lower.

Among other stocks, HEG was up over 8?ter the company's net profit surged manifold on year in the June quarter. GE Vernova T&D India hit the 5% upper band for the second straight session after strong earnings growth in the June quarter. Maharashtra Seamless rose 3?ter its bottom line for the quarter rose 78% on year.

On the other hand, Hitachi Energy India was down over 6?ter Emkay Global Financial Services downgraded it to 'sell' from 'buy' due to high valuations. Welspun Living was down nearly 6% and was among the worst hit in the Nifty 500 after its profit and sales both fell on year in the June quarter. Waaree Energies, which has significant exposure to the US market, was down nearly 5%. Textile makers such as Vardhman Textiles and KPR Mills were also down due to US tariffs. "We believe tariff rate of 25% if implemented on India (from Aug, 1st 2025) will lead to downtrading, lower realisation due to sharing of tariff with suppliers and impact profitability of the textile companies in the near term," ICICI Direct Research said on the textile sector. (Akash Mandal)

Equity Alert: Asian indices barring Japan dn; US levies 15% duty on S Korea

MUMBAI--0830 IST--Barring indices in Japan, most Asian equity markets opened lower on Thursday amid US President Donald Trump levying 15% import duty on South Korean goods. Investors await policy decision from the Bank of Japan with the Japanese central bank widely expected to hold short-term interest rates at 0.5% for the fourth consecutive time, when its two-day policy meeting concludes later in the day.

At 0825 IST, Japan's Nikkei 225 and Topix were 0.7-0.9% higher. Pharmaceutical and machinery stocks fared better, Dow Jones reported. Astellas Pharma traded 6% higher and Komatsu was 1.6% up.

China's CSI 300 and Hong Kong's Hang Seng were down around 1.3?ch taking some cues from US indices and disappointing manufacturing data. China's official manufacturing purchasing managers' index fell to 49.3 in July from 49.7 in June, South China Morning Post reported citing data from National Bureau of Statistics.

Among other indices, South Korea's Kospi was a tad lower in early trade. This was after Trump announced a 15% tariff on South Korean goods including automobiles, which attracted 25% tariff earlier. South Korea agreed to invest $350 billion in the US in projects selected by the president and to purchase natural gas and other energy products worth $100 billion.

Among other indices, FTSE Singapore was down 0.6%, falling for the fifth straight session, after a 14-day winning streak. Australia's S&P ASX 200 was also down 0.2%. The Australian benchmark index broke three consecutive days of gains.

Following are the levels of key Asian indices at 0825 IST:

(Gopika Balasubramanium)

Equity Alert: Mkt may fall sharply on high US tariff; Nifty 50 may test 24000

MUMBAI--0801 IST--Benchmark indices are expected to open sharply lower Thursday following US President Donald Trump's higher-than-anticipated tariffs on Indian goods. This move is likely to weigh on the markets in the near term. However, analysts see the long-term impact of tariffs will be limited, as Indian exports to the US make up a relatively small share of the country's GDP. On Thursday, the Nifty 50 is likely to move in a range of 24200–25000.

Some analysts see the benchmark indices falling 1-2% in the near term, with some even expecting the Nifty 50 to test the 24,000 levels. The index had last fallen below that level on May 9. The US president announced a 25% tariff on Indian goods after market hours Wednesday and said India has the most strenuous and obnoxious non-monetary trade barriers of any country. He also said the country will pay a penalty for getting cheap crude oil and military equipment from Russia.

"Markets will react negatively to the imposition of tariff on India...despite the unpredictable policy making of US, market was expecting a tariff deal to work out as longer term US India strategic interests are aligned," Nilesh Shah, managing director at Kotak Mahindra Asset Management Company, said in a note. The July contract of the GIFT Nifty indicated a sharply lower start for the market. At 0753 IST, the contract was at 24685 points, 170 points lower than the Nifty 50's latest close. The August contract was at 24771.50 points. On Wednesday, the Nifty 50 had ended at 24855.05 points, up 33.95 points. The BSE Sensex had closed at 81481.86 points, up 143.91 points or 0.2%.

Overnight, indices in the US ended slightly lower as US Federal Reserve Chair Jerome Powell dampened hopes of a rate cut in September. The US central bank said, "The unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated," as reported by Reuters. Asian indices were also mixed in early trade Thursday. (Akash Mandal)

Equity Alert: US indices mixed as Fed signals no rate cut in Sept

MUMBAI--0747 IST--The S&P 500 and Dow Jones Industrial Average closed lower on Wednesday after US Federal Reserve Chair Jerome Powell said the central bank had made no decisions about a rate cut in September. This dampened traders' hopes, as nearly 64% of them were expecting a 25-basis-point rate cut in September, against 42?ter the policy outcome. Investors also parsed the June quarter earnings of two Magnificent Seven stocks--Meta and Microsoft. Results of Amazon and Apple are due later Thursday.

The US Federal Reserve kept the federal funds rate steady at 4.25-4.50% yet again, but the decision was not unanimous with two governors--Michelle Bowman and Christopher Waller--in favour of a quarter percentage-point cut. This was the first time since 1993 that the Fed's policy decision was met with such dissent, CNBC reported.

"Our obligation is to keep longer-term inflation expectations well anchored and to prevent a one-time increase in the price level from becoming an ongoing inflation problem," Powell was quoted as saying by Reuters. "Higher tariffs have begun to show through more clearly to prices of some goods, but their overall effects on economic activity and inflation remain to be seen."

The S&P 500 index ended slightly lower and extended losses for the second straight session, while the Nasdaq Composite closed 0.2% higher. The Dow Jones Industrial Average closed 0.4% lower. Among stocks, mega-cap companies Microsoft and Meta Platforms were up more than 6?ch in extended trade after reporting quarterly results. Starbucks ended slightly lower despite posting better-than-expected third-quarter sales. Hershey gained 1.4?ter the chocolate and snacks company reported results that topped estimates.

Following are the closing levels of US indices Wednesday:

(Gopika Balasubramanium)

End

US$1 = INR 87.60

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Tanima Banerjee

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

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