Lowe's Financial News

Info Edge (India) Ltd. fell 0.23 per cent to Rs 4499.35 in Tuesday's session as of 11:57AM (IST) even as the equity benchmark Sensex traded 191.95 points higher at 67319.03. Earlier in the day, the stock witnessed a gap up start to the session.

Tata Elxsi Ltd. traded 0.64 per cent down in Tuesday's trade at 11:47AM (IST).

Havells India Ltd. traded 1.76 per cent down in Tuesday's trade at 11:42AM (IST).

The top loser was Cochin Shipyard whose stock fell by over 14% to the day's low of Rs 1,032.25. It was followed closely by Mazagon Dock Shipbuilders which plunged nearly 13% at Rs 2,005.10 on the NSE. Meanwhile, Garden Reach Shipbuilders, Shipping Corporation of India (SCI) and Great Indian Shipping Company shares fell 6.27%, 5.41% and 0.95%, respectively around 11 am. Both Mazagon Dock and Cochin Shipyard shares have witnessed a strong rally in recent times and have given returns of 13% and 20% over the past 5 trading sessions. Others like Great Indian Shipping Company, SCI and Garden Reach have given 6-3% returns during this time.Shipping stocks followed a wider trend where the PSU stocks fell. Commenting on the recent rally in many of the PSU stocks, Vijay Kedia, Managing Director at Kedia Securities told ETNow that he viewed the recent rally as some kind of euphoria in the PSU stocks. «I do not know what they should do but the general public should understand what happened in 2022, we discussed just now what this platform stocks, I think the same kind of euphoria is happening in PSU stocks.

Midcap index cracked nearly 3 per cent in morning trade on Tuesday. The BSE Midcap index fell to an intraday low of 32,177.91, down 2.68 per cent against the previous close of 33,064.96 while the Smallcap index plunged to its intraday low of 37,005.17, down 3.97 per cent against its previous close of 38,533.40 in Tuesday's trade so far. Early morning today, both the mid and smallcap indices hit their fresh record highs of 33,245.85 and 38,769.33 respectively.

By Saqib Iqbal Ahmed

Colgate-Palmolive (India) Ltd. traded 1.12 per cent down in Tuesday's trade at 11:26AM (IST).

Page Industries Ltd. fell 0.34 per cent to Rs 41516.55 at 11:37AM hours (IST) on Tuesday.

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Crompton Greaves Consumer Electricals Ltd. fell 1.09 per cent to Rs 313.45 in Tuesday's session as of 11:32AM (IST) even as the equity benchmark Sensex traded 131.37 points higher at 67258.45. Earlier in the day, the stock witnessed a gap up start to the session.

Stock market today: India has been at the center of the global political and economic discourse for some time now. As the fastest growing large economy in the world, India is viewed with respect among the comity of nations. According to IMF, India will contribute 15 percent to the global GDP growth this year.

Varun Beverages Ltd. traded at Rs 914.55 on BSE at 10:35AM (IST) on Tuesday, down 0.49 per cent.

SRF Ltd. slipped 1.6 per cent to Rs 2397.45 in Tuesday's trade as of 10:30AM (IST). The stock hit a high price of Rs 2450.0 and low of Rs 2390.1 during the session. The return on equity (ROE) for the stock stood at 20.93 per cent.

Marico Ltd. fell 1.11 per cent to Rs 578.9 in Tuesday's session as of 10:25AM (IST) even as the equity benchmark Sensex traded 100.66 points lower at 67026.42. Earlier in the day, the stock witnessed a gap up start to the session.

Tech Mahindra Ltd, part of the Indian IT sector, rose more than 3% in a week to break out from a Flag pattern on the weekly charts and is consolidating at the breakout area of 1-year long consolidation. Tech Mahindra stock which is also part of the S&P BSE Sensex hit a 52-week high of Rs 1,276 on 8th September 2023. The stock gave a breakout from a downward sloping trendline on the weekly charts and a Flag pattern on the daily charts, suggest experts. The breakout has opened room for the stock to head towards 1500 levels, feel experts. The stock is also consolidating around the breakout area of 1170. The stock hit a high of 1165 in September 2022 but it failed to hold on to the momentum.

A look at the day ahead in European and global markets from Kevin Buckland

The clean energy arm of Malaysia’s national oil and gas company Petronas intends to use acquisitions, joint ventures and organic growth to build a portfolio of solar, wind and battery storage projects totalling between 5 gigawatts and 8 gigawatts by 2030.

Shree Cements Ltd. dropped 0.41 per cent to Rs 25666.0 at 10:05AM (IST) in Tuesday's trade.

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India is the top destination for Chinese companies, but it falls to 11th place in the overall rank as the most attractive destination when other factors are considered. In an Economist Intelligence Unit (EIU) report published this month, which indexes 80 investment destinations based on their appeal to Chinese investors, Singapore emerged the number one most attractive destination for Chinese companies to invest in. The China Going Global Investment Index uses a robust and quantitative approach to rank countries based on their attractiveness for Chinese outward direct investment (ODI). It is aimed at assisting Chinese firms narrow down the list of potential investment destinations, and also focus the minds of recipient governments on the issues that matter for Chinese investors. A total of 200 indicators were used to create the 2023 edition of the index.

yen steadied near a one-week high on Tuesday as comments from Japan's top central banker on a possible end to its negative interest rate policy reverberated through markets, while the dollar regained some lost ground. Bank of Japan (BOJ) Governor Kazuo Ueda told a newspaper interview over the weekend the bank could get enough data by year-end to determine whether it can end negative rates, remarks that on Monday saw the yen clock its largest daily gain against the dollar in two months. The Japanese currency was last marginally lower at 146.61 per dollar, after scaling a one-week top of 145.91 in the previous session. «Essentially, Governor Ueda laid out a conditional path and timeframe for the first-rate hike and a move away from its negative interest rate policy, should the data permit,» said Chris Weston, head of research at Pepperstone. «One can assume that the BOJ are also one step closer to moving away from yield curve control (YCC), and logically one could argue that the BOJ would like to be able to lift rates and remove YCC concurrently.» The yen has come under immense pressure against the dollar as a result of growing interest rate differentials with the United States, since the Federal Reserve began its aggressive rate-hike cycle last year while the BOJ remains a dovish outlier. Elsewhere, the U.S.