Stock Market Live: Nuvama On Trent
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Downgrade Trent to ‘HOLD’ with a revised TP of Rs. 5,884 (earlier INR6,627)
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Disappointed on near-term growth expectations in core fashion business
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Cutting FY26E/27E revenue by -5%/-6% and EBITDA by -9%/-12%
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Pickup in Zudio Beauty and the Star business can become the next big growth levers
Oil Prices Continue To Fall Before OPEC+ Meet
Oil prices extended losses to second session ahead of Organization of Petroleum Exporting Countries and allies in the upcoming weekend. Market participants are expecting that OPEC+ will deliver another output hike.
Brent crude was trading 0.23% down at $68.64 a barrel as of 7:36 a.m.
Asia Market Update: Hang Seng Falls Over 1%
Most Asia-Pacific markets declined Friday with the Hang Seng index falling over 1%. Markets in Japan, and Australia advanced as upbeat US jobs data nullified some concerns about the US economy.
The Hang Seng and KOSPI were trading 1.34% and 1.05% down, respectively as of 7:28 a.m. The Nikkei 225 and S&P ASX 200 were trading 0.27% and 0.19% higher, respectively.
US Market Update: S&P 500 And Nasdaq Composite Hit Record High On Upbeat Jobs Data
The S&P 500 and Nasdaq Composite indices hit record high as US upbeatjobs data assured traders about the world’s largest economy’s labour market.
US non-farm payroll advanced 147,000 for June compared to 110,000 expectation for the month. Jobs advanced on the back of aggressive government hiring.
The Dow Jones Industrial Average rose 0.77% to 44,828.53. The S&P 500 rose 0.83% to 6,279.35. The Nasdaq Composite rose 1.02% at 20,601.10
GIFT Nifty Implies Lower Open; Bajaj Finance, ONGC, Vedanta Shares In Focus
The GIFT Nifty was trading 0.14% or 35 points lower at 25,525.50 as of 6:48 a.m., which implied a lower open for the NSE Nifty 50 index.
Investors may monitor prices of Vedanta Ltd., Bajaj Finance Ltd., Yes Bank Ltd., and Oil and Natural Gas Corp Ltd. because of the overnight news flow.
The Indian benchmark equity indices erased the intraday gains to close lower for the second consecutive day on Thursday, dragged by share prices of Kotak Mahindra Bank Ltd. and Bharti Airtel Ltd.
The NSE Nifty 50 ended 48.1 points or 0.19% lower at 25,405.30, while the BSE Sensex closed 170.22 points or 0.2% down at 83,239.47.
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