Yield On 10-Year Bond Opens Lower

  • The yield on the 10-year bond opened 3 basis points lower at 6.44%

  • It closed at 6.47% on Friday

Source: Cogencis

Rupee Opens Stronger Against US Dollar

  • Rupee opened 27 paise stronger at 88.00 against US dollar

  • It settled at 88.27 on Friday

Source: Bloomberg

Asia Market LIVE: Japan’s Nikkei 225 Hits Fresh High 

Japan’s benchmark index Nikkei 225 rose 1.24% to a record high of 44,185.73. The index has been rising after Prime Minister Shigeru Ishiba resigned from his post.

After BofA, Morgan Stanley Raises Target Prices For Top Automakers Like Maruti, Hyundai, M&M

The auto sector is entering an upcycle, according to Morgan Stanley, with multiple factors set to support future growth. This positive outlook is reflected through the broking’s upgrades and the hikes in target prices for players leading the pack.

The brokerage highlights that the sector’s positive momentum is supported by the GST rationalisation, which could lead to unprecedented price cuts for consumers.

Stock Market LIVE: CLSA On Swiggy

  • Maintain Outperform with a target price of Rs 509

  • Management confident in QC contribution margin breakeven

  • Focus to be on store densification rather than width

  • Food delivery business: GOV growth expectations of 18-20% over next 2-3 years

  • Announced flagship sale ‘Quick India movement’ before ecommerce giants

Infosys To Consider First Share Buyback For First Time In Three Years

Infosys Ltd. will consider first buyback in three years on Thursday. The company may spend Rs 13,560 crore in the buyback.

The buyback has been priced at average premium of 25%. On an average, Infosys spends 30% cash on buyback. On an average, Infosys buys back 14–15% of networth.

Asia Market LIVE Update: MSCI Asia-Pacific Rises To Over Four-Year High

MSCI Asia-Pacific Index, which gauges the performance of equities in the region, reached to the highest level since Feb 16, 2021 as gains in Japan and South Korea supported. The markets in the region are tracking optimism on Wall Street about rate cuts by the US Federal Reserve.

The Nikkei 225 and KOSPI were trading 0.34% and 0.63% higher, respectively as of 7:32 a.m.

Experts’ Pre-Market View: Nifty Expiry Volatility In Focus 

LIVE: GIFT Nifty Hints At Tepid Open; Infosys, Tech Mahindra, TVS Motor, RVNL Shares In Focus

The GIFT Nifty was trading 0.03% or 8 points down at 24,951.50 as of 6:31 a.m., which implied flat-to-negative open for the NSE Nifty 50 index.

Market participants will keep an eye on TVS Motor Co., Rail Vikas Nigam Ltd., Infosys ltd., Tech Mahindra Ltd., Railtel Corp, and Brigade Enterprises Ltd.

The benchmark equity indices ended flat on Monday after falling sharply in the last hour of trade, closing near the day’s low.

The NSE Nifty 50 settled 32.15 points or 0.13% higher at 24,773.15 and the BSE Sensex closed 76.54 points or 0.09% up at 80,787.30.

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