Oil Prices Decline For Three Sessions 

Oil prices declined for third day in a row as US stockpiles rose which further improved supply outlook. The Brent July future was trading 0.02% down at $64.90 a barrel as of 8:46 a.m.

Stock Market Live: Macquarie On IndusInd Bank 

  • Maintain Outperform with a target price of Rs 1,210

  • Q4: Large earnings miss, multiple events recognized

  • Asset quality still a concern

  • If one assumes that cleanup is largely done, which in itself is questionable, normalised PPOP was Rs 12000 cr annualised for Q4

  • Stock currently at 5x trailing PPOP, which is lower than peers

  • Further, on a trailing book, the stock trades at 0.9x FY25 P/B

  • Clarity around management succession, peak credit costs, sustainable NIMs, and governance are key monitorables

Asia Market Update: Share Indices Fall Tracking Wall Street Losses

Asia-Pacific share indices declined Thursday, tracking overnight losses on Wall Street on growing concern over US debt. A proposed tax-cut bill is fueling worries over how will US manage its finances.

The Nikkei 225 and KOSPI were trading 0.80% and 1.30% down, respectively as of 8:04 a.m.

US Market Update: Dow Jones Falls Nearly 2% As US Debt Worries Weigh 

US share indices ended sharply lower as investors were weighed by concern over US debt levels. Long-dated treasuries sale also pressured share indices. Long-term treasury notes yields may rise because of concerns over US debt burden, as reported by Bloomberg.

On Wednesday, the Dow Jones Industrial Average fell 1.91% at 41,860.44. S&P 500 fell 0.19% at 5,872.25. The Nasdaq Composite fell 1.41% at 18,872.64.

GIFT Nifty Implies Negative Open; IndusInd Bank, IndiGo, ONGC Shares In Focus

The GIFT Nifty was trading 0.08% or 21 points higher at 24,783.50 as of 7:03 a.m., which implied a lower open for the Nifty 50.

Traders will monitor IndusInd Bank Ltd., InterGlobe Aviation Ltd., Oil and Natural Gas Corp., and Ircon International Ltd. share prices as they reported fourth quarter earnings.

The benchmark equity indices closed higher, breaking a three session losing streak on Wednesday, amid volatility in the domestic stock markets.

On Wednesday, the NSE Nifty 50 closed 129.55 points, or 0.52% higher at 24,813.5 and the BSE Sensex ended 410 points, or 0.51% up at 81,596.

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