Sensex erases 2020 losses, settles 724 pts higher ahead of US poll outcome

All that happened in the markets today

2:13 PM

Amid US election uncertainty, the Fed is likely to lay low

With the final result of Tuesday's presidential election still uncertain, the U.S. central bank's policy-setting Federal Open Market Committee is expected to stick closely to its last statement and repeat its pledge to do whatever it can to help the economy through the coronavirus-triggered recession. READ MORE

2:04 PM

Rupee Closing

>> Rupee ends higher at 74.39 per US dollar vs Wednesday's close of 74.74/$

2:01 PM

Lupin shares fall 2% in strong market post September quarter results

Shares of Lupin dipped 2 per cent at Rs 928 on the BSE on Thursday in an otherwise strong market after the drug maker reported 50 per cent year-on-year (YoY) decline in profit after tax at Rs 211 crore in the September quarter (Q2FY21), due to lower operational performance, lower other income and higher tax rate. The stock hit an intra-day low of Rs 922 on the BSE. In comparison, the S&P BSE Sensex was up 1.6 per cent at 41,245, at 01:24 pm. READ MORE

1:59 PM

US Presidential Elections 2020 :: Joe Biden's lead narrows in Arizona

>> Joe Biden is six electoral college votes away from becoming the next president of the United States

1:55 PM

JK Tyre, Exide: Analysts advise staying selective in auto ancillary space

The momentum in auto sales, Vinit Bolinjkar, head of research at Ventura Securities says, has significantly improved auto parts sourcing by original equipment manufacturers (OEMs) and has benefited auto ancillary companies. This, he says, has also created a strong aftermarket for the replacement industry such as batteries, tyres, etc. READ MORE

1:46 PM

Covid-19 impact: S&P downgrades Tata Motors outlook to negative from stable

Rating agency S&P Global Ratings has downgraded the outlook for Tata Motors to negative from stable on account of a slower than expected recovery in company’s operational performance, it said in a statement on Thursday.

 

The negative outlook, it said, reflects the risk that the continued impact of the Covid-19 pandemic on the global automotive market could disrupt the recovery we expect in Tata Motors' volumes and earnings over the next 12-24 months. READ MORE

1:30 PM

PVR, Inox Leisure gain up to 8% as cinemas reopen in Maharashtra

The state government on Wednesday permitted theatres including single-screen, multiplex and drama halls to re-open from Thursday, adding that they could function outside containment zones only. This will benefit multiplex companies as box office revenue from Maharashtra state constitutes around 30 per cent of total revenue for Hindi films. READ MORE

1:19 PM

Brokerages remain bullish on Asian equities despite US poll cliffhanger

"Prospects of much less fiscal stimuli ahead amid a divided and gridlocked US Congress will likely weigh on US economic growth (and, by extension, global growth), and thus particularly hurt the prospects of value / cyclical / financial stocks geared to global economic growth. A Biden win without full Senate support also means less risk of regulation and higher corporate / personal taxes," said Charlie McElligott, cross-asset macro strategist at Nomura. READ MORE

1:09 PM

Job losses, salary cuts hit SIP continuation by MF investors: Survey

Sixty two per cent of mutual fund distributors (MFDs) reported that they saw some pause (58 per cent) or widespread pause (4 per cent) in SIPs. There was a flight to safety as well, with 65 per cent of the MFDs seeing some (59 per cent) or widespread (6 per cent) shift in allocation from equity to fixed income funds. Similarly, 69 per cent of MFDs saw widespread (47 per cent) or some (22 per cent) shift in allocation from MFs to bank deposits and cash. READ MORE

12:56 PM

Occupancy trends key to sense theatre chain PVR's cash flows: Analysts

With theatres shut, PVR’s revenues in the September quarter were negligible for a second consecutive quarter. While sales were higher on a sequential basis, screening restrictions meant revenues were down 96 per cent over the year-ago period. Income from movie distribution and non-operating income accounted for the bulk of quarterly revenues. READ MORE

12:49 PM

Oil falls over 1% as markets whipsawed by US election uncertainty

Oil dropped on Thursday as Democrat Joe Biden edged closer to the White House in a nail-biting U.S. presidential election but the Republicans look likely to retain Senate control, decreasing the chances of any huge COVID-19 relief package. U.S. West Texas Intermediate (WTI) crude futures fell 64 cents, or 1.63%, to $38.51 a barrel at 0440 GMT, while Brent crude futures dropped 68 cents, or 1.65%, to $40.55 a barrel. Both contracts had jumped around 4% on Wednesday. READ MORE

12:41 PM

NEWS ALERT :: Maruti Suzuki to recall 40,453 units of Eeco

>> Maruti Suzuki India Limited today proactively announced to voluntarily undertake a recall for Eeco vehicles manufactured between November 4th 2019 and February 25th 2020, and few Eeco vehicles in which headlamp has been replaced in the field.

12:37 PM

NEWS ALERT :: Bank of England keeps interest rate unchanged at 0.1%

>> Bank Of England expects new QE programme to start in January & finish by 2021 end

12:32 PM

US election results 2020

-- The margin between Trump and Biden continues to narrow in Georgia

12:27 PM

NEWS ALERT :: BSE gets exemptive relief under CFTC Regulation 30.10

>> Members can accept F&O orders from customers located in US