- Barry Adams
- 10 Jan, 2024
- New York City
Stocks on Wall Street edged higher, and investors shifted their attention to the inflation data and the quarterly results from banks.
Benchmark indexes managed to recover from lackluster trading in the morning, and Treasury yields hovered near recent levels as investors awaited the release of the consumer price inflation report on Thursday and the producer price inflation report on Friday.
Investors are hoping that the recent deceleration in inflation is likely to continue and may convince policymakers to lower rates in March.
The consumer price index in November eased to 3.1% from 3.2% in October, and economists are anticipating inflation in December to hover near the 3% level.
The producer price index in November was unchanged from the previous month, following a decline of 0.4% in October.
Investors are also awaiting the release of earnings this Friday from JP Morgan Chase, Citigroup, Wells Fargo, Delta Airlines, and UnitedHealth Group.
Mortgage Applications Rebound
Mortgage applications soared 9.9% in the first week of this year, reversing the slump of 10.7% in the previous week, the Mortgage Bankers Association reported Wednesday.
The average mortgage rate in the week rebounded to 6.81% from 6.76% in the previous week, but it was lower than the 23-year high of near 8% reached in October.
Mortgage applications to purchase a home jumped 6%, but those to refinance a home soared 19% from the previous week.
U.S. Indexes and Yields
The S&P 500 index increased 0.3% to 4,768.07, and the Nasdaq Composite rose 0.4% to 14,918.02.
The yield on 2-year Treasury notes decreased to 4.38%,410-year Treasury notes held steady at 4.0%, and 30-year Treasury bonds eased to 4.17%.
Crude oil futures declined after the Energy Information Agency showed that the U.S. crude inventories rose by 1.338 million barrels last week, contrasting the industry report showing a decline of 5.2 million barrels.
Investors are still worried about the elevated tensions in the Red Sea could spark a wider regional war, and political protests in Libya has stopped a daily supply of 300,000 barrels of oil from the Sharara oil field.
WTI crude oil decreased $0.08 to $72.14 a barrel, and natural gas prices decreased 17 cents to $3.01 a thermal unit.
Gold decreased $2.06 to $2,027.41 an ounce, and investors debated the future interest rate path.
The dollar index, which weighs the U.S. dollar against a basket of foreign currencies, edged lower to 102.41.
U.S. Stock Movers
Hewlett-Packard Enterprise increased 0.4% to $16.20 after the company confirmed it agreed to acquire Juniper Networks for $40 a share, or about $14 billion, in an all-cash deal.
Lennar Corp. increased 1.4% to $150.17 after the home builder increased its annual dividend to $2.0 from $1.50 a share and the company's board approved the stock repurchase program of $5 billion.
WD-40 Company advanced 6.5% to $252.0 after the lubricant maker reported better-than-expected quarterly results.
Revenue in the fiscal first quarter ending in November increased 12% from a year ago to $140.4 million, rose to $17.5 million from $13.99 million, and diluted earnings per share advanced to $1.28 from $1.02 a year ago.
PriceSmart jumped 8.9% to $79.42 after the membership warehouse club reported fiscal first quarter results.
Revenue in the quarter ending in November rose 10.6% to $1.2 billion from $1.05 billion, net income jumped to $38 million from $32.9 million, and diluted earnings per share advanced to $1.24 from $1.05 a year ago.
Intuitive Surgical rose 4.9% to $347.0 after the medical equipment maker reported preliminary quarterly results and a stronger-than-expected fourth-quarter sales outlook.
Revenue in the fourth quarter increased 17% to $1.93 billion from $1.66 billion, and revenue in the full-year 2023 rose 14% to $7.12 billion from $6.22 billion a year ago.
The company placed 415 da Vinci surgical systems, an increase of 12% from a year ago.
In 2023, the number of da Vinci surgical systems installed increased by 8% to 1,370 from 1,264 a year ago.
Eurozone Faces Technical Recession and Inflation Rebound
Benchmark indexes struggled to hold steady after economic growth and resurgent inflation worries dominated trading sentiment.
Market indexes in Frankfurt, Paris, and London traded around the flatline, and investors focused on the latest comments from ECB vice president Luis de Guindos.
Guindos stressed that economic activities are expected to remain weak in the short term in the face of weak export growth and tight financial conditions at home.
Moreover, the eurozone is facing a technical recession in the second half because of a broad-based slowdown driven by weaknesses in construction and manufacturing activities.
Inflation is expected to fall at a slower pace this year than in 2023, added Vice President Luis De Guindos.
"High wage pressures, geopolitical tensions, and upcoming wage negotiations are adding to uncertainty around the future path of inflation," added De Guindos.
Italian Retail Sales Advanced In November
Italian retail sales rose 0.4% from the previous month and 1.5% from the previous year in November, the National Institute of Statistics, or ISTAT, reported Wednesday.
Retail sales rose for the second month in a row and matched the growth rate in October.
Food product sales increased by 0.2%, and non-food goods sales advanced by 0.6% in the month.
France's Industrial Production Rebounded In November
France's industrial production rose 0.5% from the previous month and 0.6% from a year ago in November, the statistical agency INSEE reported Wednesday.
Volatile industrial production on a monthly basis rose for the first time after falling for three months in a row and falling 0.3% in the previous month.
Mining and energy exploration rebounded to an increase of 1.8% from the decline of 2.7% in the previous month; manufacturing growth rose slightly to 0.3% from 0.2%; and construction activities declined at a slower pace of 1% from 2.2%.
Europe Indexes and Yields
The DAX index increased 0.008% to 16,689.81, the CAC-40 index rose 0.007% to 7,426.08, and the FTSE 100 index inched lower by 0.4% to 7,651.76.
The yield on 10-year German bonds edged down to 2.16%; French bonds inched lower to 2.69%; the UK gilts edged down to 3.77%; and Italian bonds decreased to 3.80%.
The euro edged higher to $1.095, the British pound inched higher to $1.275, and the U.S. dollar eased to 85.17 Swiss cents.
Brent crude decreased $0.31 to $77.21 a barrel, and the Dutch TTF natural gas decreased by €0.40 to €31.05 per MWh.
Europe Stock Movers
ASML edged up 0.06% to €654.90, and the Dutch chip-making equipment maker was in focus after TSMC, the world's largest chip-making foundry, reported better-than-expected fourth-quarter revenue.
J Sainsbury plc declined by 5% to 290.54 pence after the UK-based grocery company reported weaker-than-expected sales during the holiday period.
Total retail sales, excluding fuel, in the sixteen-week period ending on January 6 rose 6.5%, and in the six-week Christmas holiday period, sales advanced 4.9%.
Grocery sales rose 9.3% and 8.6%, and non-food sales rose 1.5% and decreased 1.3%, excluding the impact of Argos in Ireland, in the sixteen-week and six-week periods, respectively.
Greggs plc rose 6% to 2,623.95 pence after the bakery and convenience food retailer reported strong year-end sales.
Total sales in the financial year 2023 rose 19.6% to £1.8 billion from £1.5 billion, and comparable sales at the company-managed stores rose 13.7% in the year and 9.4% in the fourth quarter.
The company opened a record 220 new stores in the year, with 33 closures and 42 relocations, resulting in a net new 145 stores totaling 2,473 stores at the end of 2023.
Hunting Plc increased 2.4% to 280.50 pence after the precision engineering group reiterated its 2023 outlook and confirmed it is in alignment with market expectations.
China Stocks Extend Losses, Suzuki to Double Capacity In India
In Asian trading, most markets traded down amid U.S. interest rate uncertainties, on-going property woes in China, and the lack of stimulus measures from the Chinese government.
Benchmark indexes in Tokyo edged higher by 1.9% to 34,402.07 on the expectation that the Bank of Japan will maintain its ultra-loose policy stance, despite the early signs of a rise in inflation.
Average cash earnings in Japan rose 0.2% in November from the previous month, the Ministry of Health, Labor, and Welfare reported Wednesday.
The wage gains slowed from a 1.5% increase in October and lagged behind the increase of 2% in core inflation in November, marking the 20th consecutive month of decline in real wages after adjusting for inflation.
Maruti Suzuki India will invest about $4 billion to set up its second manufacturing facility in Gujarat, Suzuki Motor Corporation President Toshihiro Suzuki said on Wednesday.
Toshihiro announced the investment plan at the 10th Vibrant Gujarat Global Summit and added that the manufacturing plant will double its annual production capacity to 2 million vehicles in Gujarat.
The company currently manufactures 2.2 million vehicles in plants based in Haryana and Gujarat, and the automobile company is looking to double its capacity by the end of this decade.
China stocks continue to drift lower in the new year amid consumer confidence and the lack of a meaningful policy response from the government.
The benchmark index in Hong Kong declined for the seventh session in a row.
The Hang Seng index declined 0.7% to 16,077.01 and extended this year's loss to 5.5%, the worst start of the year in about two decades.
In Shanghai, the SSE Composite decreased 0.3% to 2,884.99 and extended this year's loss to 3% amid deepening property market woes across the mainland.
China also revved up cross-strait tensions ahead of a presidential election in Taiwan this Saturday.
- Brian Turner
- 09 Jan, 2024
- New York City
The U.S. international trade deficit narrowed to $63.2 billion in November from $64.5 billion in October, the Bureau of Economic Analysis reported Tuesday.
The goods deficit declined $0.6 billion to $89.4 billion, and the service surplus rose $0.7 billion to 26.2 billion.
Total exports decreased by 1.9% to $253.7 billion, and total imports declined by the same amount to $316.9 billion.
Year-to-date, the goods and services deficit decreased $161.8 billion, or 18.4%, from the same period in 2022.
Exports increased $28.8 billion, or 1.0%, and imports decreased $133.0 billion, or 3.6%.
The deficit with China declined by $2.4 billion to $21.5 billion and with the European Union by $3.5 billion to $15.6 billion, but rose by $2.0 billion to $2.3 billion.
- Barry Adams
- 10 Jan, 2024
- New York City
Stocks on Wall Street were little changed in early trading, and investors shifted their attention to inflation data and the quarterly results from banks.
Benchmark indexes lacked direction in early trading and Treasury yields hovered near recent levels as investors awaited the release of consumer price inflation report on Thursday and producer price inflation report on Friday.
Investors are hoping that the recent deceleration in inflation is likely to continue, and may convince policymakers in lowering rates in March.
Consumer price index in November eased to 3.1% from 3.2% in October, and economists are anticipating inflation in December to hover near 3% level.
Producer price index in November was unchanged from the previous month following the decline of 0.4% in October.
Investors are also awaiting the release of earning from JP Morgan Chase, Citigroup, Wells Fargo, Delta Airlines, and UnitedHealth Group.
U.S. Indexes and Yields
The S&P 500 index decreased 0.3% to 4,750.81, and the Nasdaq Composite increased 0.02% to 14,846.78.
The yield on 2-year Treasury notes decreased to 4.38%,410-year Treasury notes held steady at 4.0%, and 30-year Treasury bonds eased to 4.17%.
WTI crude oil increased $0.76 to $72.98 a barrel, and natural gas prices increased 6 cents to $3.12 a thermal unit.
Gold increased $2.23 to $2,031.91 an ounce, and investors debated the future interest rate path.
The dollar index, which weighs the U.S. dollar against a basket of foreign currencies, edged lower to 102.47.
U.S. Stock Movers
Hewlett-Packard Enterprise increased 0.4% to $16.20 after the company confirmed it agreed to acquire Juniper Networks for $40 a share, or about $14 billion, in an all-cash deal.
Lennar Corp. increased 1.4% to $150.17 after the home builder increased its annual dividend to $2.0 from $1.50 a share and the company's board approved the stock repurchase program of $5 billion.
WD-40 Company advanced 6.5% to $252.0 after the lubricant maker reported better-than-expected quarterly results.
Revenue in the fiscal first quarter ending in November increased 12% from a year ago to $140.4 million, rose to $17.5 million from $13.99 million, and diluted earnings per share advanced to $1.28 from $1.02 a year ago.
PriceSmart jumped 8.9% to $79.42 after the membership warehouse club reported fiscal first quarter results.
Revenue in the quarter ending in November rose 10.6% to $1.2 billion from $1.05 billion, net income jumped to $38 million from $32.9 million, and diluted earnings per share advanced to $1.24 from $1.05 a year ago.
Intuitive Surgical rose 4.9% to $347.0 after the medical equipment maker reported preliminary quarterly results and a stronger-than-expected fourth-quarter sales outlook.
Revenue in the fourth quarter increased 17% to $1.93 billion from $1.66 billion, and revenue in the full-year 2023 rose 14% to $7.12 billion from $6.22 billion a year ago.
The company placed 415 da Vinci surgical systems, an increase of 12% from a year ago.
In 2023, the number of da Vinci surgical systems installed increased by 8% to 1,370 from 1,264 a year ago.
- Scott Peters
- 10 Jan, 2024
- New York City
Hewlett-Packard Enterprise increased 0.4% to $16.20 after the company confirmed it agreed to acquire Juniper Networks for $40 a share, or about $14 billion, in an all-cash deal.
Lennar Corp. increased 1.4% to $150.17 after the home builder increased its annual dividend to $2.0 from $1.50 a share and the company's board approved the stock repurchase program of $5 billion.
WD-40 Company advanced 6.5% to $252.0 after the lubricant maker reported better-than-expected quarterly results.
Revenue in the fiscal first quarter ending in November increased 12% from a year ago to $140.4 million, rose to $17.5 million from $13.99 million, and diluted earnings per share advanced to $1.28 from $1.02 a year ago.
PriceSmart jumped 8.9% to $79.42 after the membership warehouse club reported fiscal first quarter results.
Revenue in the quarter ending in November rose 10.6% to $1.2 billion from $1.05 billion, net income jumped to $38 million from $32.9 million, and diluted earnings per share advanced to $1.24 from $1.05 a year ago.
Intuitive Surgical rose 4.9% to $347.0 after the medical equipment maker reported preliminary quarterly results and a stronger-than-expected fourth-quarter sales outlook.
Revenue in the fourth quarter increased 17% to $1.93 billion from $1.66 billion, and revenue in the full-year 2023 rose 14% to $7.12 billion from $6.22 billion a year ago.
The company placed 415 da Vinci surgical systems, an increase of 12% from a year ago.
In 2023, the number of da Vinci surgical systems installed increased by 8% to 1,370 from 1,264 a year ago.
Taiwan Semiconductor Manufacturing decreased 1.1% to $100.70 after the company reported December 2023 sales.
On a consolidated basis, revenue for December was approximately NT$176.30 billion, a decrease of 14.4% from November and a decline of 8.4% from a year ago.
Revenue for January through December 2023 totaled NT$2,161.74 billion, a decrease of 4.5% compared to the same period in 2022.
- Inga Muller
- 10 Jan, 2024
- Frankfurt
European markets struggled to advance, bond yield held firm, and the euro edged slightly higher against the dollar in Wednesday's trading.
The DAX index increased 0.3% to 16,741.54, the CAC-40 index rose 0.2% to 7,442.13, and the FTSE 100 index inched lower by 0.3% to 7,664.76.
The yield on 10-year German bonds edged down to 2.16%; French bonds inched lower to 2.69%; the UK gilts edged down to 3.77%; and Italian bonds decreased to 3.80%.
ASML edged up 0.06% to €654.90, and the Dutch chip-making equipment maker was in focus after TSMC, the world's largest chip-making foundry, reported better-than-expected fourth-quarter revenue.
J Sainsbury plc declined by 5% to 290.54 pence after the UK-based grocery company reported weaker-than-expected sales during the holiday period.
Total retail sales, excluding fuel, in the sixteen-week period ending on January 6 rose 6.5%, and in the six-week Christmas holiday period, sales advanced 4.9%.
Grocery sales rose 9.3% and 8.6%, and non-food sales rose 1.5% and decreased 1.3%, excluding the impact of Argos in Ireland, in the sixteen-week and six-week periods, respectively.
Greggs plc rose 6% to 2,623.95 pence after the bakery and convenience food retailer reported strong year-end sales.
Total sales in the financial year 2023 rose 19.6% to £1.8 billion from £1.5 billion, and comparable sales at the company-managed stores rose 13.7% in the year and 9.4% in the fourth quarter.
The company opened a record 220 new stores in the year, with 33 closures and 42 relocations, resulting in a net new 145 stores totaling 2,473 stores at the end of 2023.
Hunting Plc increased 2.4% to 280.50 pence after the precision engineering group reiterated its 2023 outlook and confirmed it is in alignment with market expectations.
- Bridgette Randall
- 10 Jan, 2024
- Frankfurt
Benchmark indexes struggled to hold steady after economic growth and resurgent inflation worries dominated trading sentiment.
Market indexes in Frankfurt, Paris, and London traded around the flatline, and investors focused on the latest comments from ECB vice president Luis de Guindos.
Guindos stressed that economic activities are expected to remain weak in the short term in the face of weak export growth and tight financial conditions at home.
Moreover, the eurozone is facing a technical recession in the second half because of a broad-based slowdown driven by weaknesses in construction and manufacturing activities.
Inflation is expected to fall at a slower pace this year than in 2023, added Vice President Luis De Guindos.
"High wage pressures, geopolitical tensions, and upcoming wage negotiations are adding to uncertainty around the future path of inflation," added De Guindos.
Italian Retail Sales Advanced In November
Italian retail sales rose 0.4% from the previous month and 1.5% from the previous year in November, the National Institute of Statistics, or ISTAT, reported Wednesday.
Retail sales rose for the second month in a row and matched the growth rate in October.
Food product sales increased by 0.2%, and non-food goods sales advanced by 0.6% in the month.
France's Industrial Production Rebounded In November
France's industrial production rose 0.5% from the previous month and 0.6% from a year ago in November, the statistical agency INSEE reported Wednesday.
Volatile industrial production on a monthly basis rose for the first time after falling for three months in a row and falling 0.3% in the previous month.
Mining and energy exploration rebounded to an increase of 1.8% from the decline of 2.7% in the previous month; manufacturing growth rose slightly to 0.3% from 0.2%; and construction activities declined at a slower pace of 1% from 2.2%.
Europe Indexes and Yields
The DAX index increased 0.3% to 16,741.54, the CAC-40 index rose 0.2% to 7,442.13, and the FTSE 100 index inched lower by 0.3% to 7,664.76.
The yield on 10-year German bonds edged down to 2.16%; French bonds inched lower to 2.69%; the UK gilts edged down to 3.77%; and Italian bonds decreased to 3.80%.
The euro edged higher to $1.095, the British pound inched higher to $1.275, and the U.S. dollar eased to 85.17 Swiss cents.
Brent crude decreased $0.40 to $77.20 a barrel, and the Dutch TTF natural gas decreased by €0.09 to €30.56 per MWh.
Europe Stock Movers
ASML edged up 0.06% to €654.90, and the Dutch chip-making equipment maker was in focus after TSMC, the world's largest chip-making foundry, reported better-than-expected fourth-quarter revenue.
J Sainsbury plc declined by 5% to 290.54 pence after the UK-based grocery company reported weaker-than-expected sales during the holiday period.
Total retail sales, excluding fuel, in the sixteen-week period ending on January 6 rose 6.5%, and in the six-week Christmas holiday period, sales advanced 4.9%.
Grocery sales rose 9.3% and 8.6%, and non-food sales rose 1.5% and decreased 1.3%, excluding the impact of Argos in Ireland, in the sixteen-week and six-week periods, respectively.
Greggs plc rose 6% to 2,623.95 pence after the bakery and convenience food retailer reported strong year-end sales.
Total sales in the financial year 2023 rose 19.6% to £1.8 billion from £1.5 billion, and comparable sales at the company-managed stores rose 13.7% in the year and 9.4% in the fourth quarter.
The company opened a record 220 new stores in the year, with 33 closures and 42 relocations, resulting in a net new 145 stores totaling 2,473 stores at the end of 2023.
Hunting Plc increased 2.4% to 280.50 pence after the precision engineering group reiterated its 2023 outlook and confirmed it is in alignment with market expectations.
- Arjun Pandit
- 10 Jan, 2024
- Mumbai
In Asian trading, most markets traded down amid U.S. interest rate uncertainties, on-going property woes in China, and the lack of stimulus measures from the Chinese government.
Benchmark indexes in Tokyo edged higher by 1.9% to 34,402.07 on the expectation that the Bank of Japan will maintain its ultra-loose policy stance, despite the early signs of a rise in inflation.
Average cash earnings in Japan rose 0.2% in November from the previous month, the Ministry of Health, Labor, and Welfare reported Wednesday.
The wage gains slowed from a 1.5% increase in October and lagged behind the increase of 2% in core inflation in November, marking the 20th consecutive month of decline in real wages after adjusting for inflation.
Maruti Suzuki India will invest about $4 billion to set up its second manufacturing facility in Gujarat, Suzuki Motor Corporation President Toshihiro Suzuki said on Wednesday.
Toshihiro announced the investment plan at the 10th Vibrant Gujarat Global Summit and added that the manufacturing plant will double its annual production capacity to 2 million vehicles in Gujarat.
The company currently manufactures 2.2 million vehicles in plants based in Haryana and Gujarat, and the automobile company is looking to double its capacity by the end of this decade.
China stocks continue to drift lower in the new year amid consumer confidence and the lack of a meaningful policy response from the government.
The benchmark index in Hong Kong declined for the seventh session in a row.
The Hang Seng index declined 0.7% to 16,077.01 and extended this year's loss to 5.5%, the worst start of the year in about two decades.
In Shanghai, the SSE Composite decreased 0.3% to 2,884.99 and extended this year's loss to 3% amid deepening property market woes across the mainland.
China also revved up cross-strait tensions ahead of a presidential election in Taiwan this Saturday.
Earnings Jitters Keep India Stocks Down
Caution prevailed on Dalal Street ahead of the start of earnings releases and weak global market signals.
Benchmark indexes The Nifty and Sensex indexes looked down in early trading, and investors focused on familiar large-cap names.
TCS, Infosys, HCL, and Wipro were in focus ahead of the release of quarterly results amid weak sales growth expectations as the leading companies face tough macroeconomic headwinds.
In Tuesday's trading, the Nifty and the Sensex indexes lacked direction and gave up early gains despite strong signals from markets in the U.S. and Europe.
Crude oil remained volatile with an upward bias as hostile conditions persisted in the Red Sea and leading shipping companies diverted most of the shipments away from the region.
India Indexes and Yields
The Sensex index increased 570.02 points to 71,925.24, and the Nifty index rose 176.65 points to 21,688.75.
On the Mumbai stock exchange, 230 stocks traded at their 52-week highs and 8 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds eased 7.18%, and the Indian rupee edged lower to ₹83.15 against the U.S. dollar.
The gold price increased by 0.08% to ₹62,227 per ten grams, and silver rose by 0.02% to ₹72,061 per kilo.
Crude oil increased by 0.02% to ₹6,035 per barrel, and natural gas fell by 1.9% to ₹266.40 per thermal unit.
India Stock Movers
Vedanta declined 2.5% to ₹255.45 after Moody's downgraded corporate group rating to Caa3 from Caa2 and rating on unsecured bonds to Ca from Caa3. The rating agency maintained a negative outlook on the company's debt.
Power Grid Corporation decreased 0.5% to ₹241.20, and the power distribution company is set to raise as much as ₹2,200 crore in a bond offering today.
Power Finance Corporation fell 2.2% to ₹385.80, and the company received approval from the Reserve Bank of India for setting up a finance company in GIFT city, Gujarat.
Shyam Metallics and Energy gained 0.6% to ₹641.65 after the company raised ₹1,385 crore through an institutional offering.
The company's offering attracted bids of 4,055 crore, about 3.5 times the offering size.
Delta Corp. decreased 2.4% to ₹146.95 after the casino operator reported quarterly results.
Revenue in the December quarter rose 15% from a year ago to ₹231.7 crore, and net profit decreased 59% to ₹34.5 crore.
KIOCL fell 2.7% to ₹358.80 after the company temporarily suspended operations at its Mangalore plant because of the lack of iron ore fines.
Polycab India rose 0.8% to ₹4,906.30 after the company refuted recent media speculation about tax evasion.
The company said it has not received any communication from the Income Tax Department following the recent property searches conducted by the government agency.
- Arjun Pandit
- 10 Jan, 2024
- Mumbai
Stocks in Mumbai lacked direction in choppy trading, and tech services companies were in focus ahead of the release of quarterly results.
The Sensex index increased 570.02 points to 71,925.24, and the Nifty index rose 176.65 points to 21,688.75.
On the Mumbai stock exchange, 230 stocks traded at their 52-week highs and 8 stocks traded at their 52-week lows.
Vedanta declined 2.5% to ₹255.45 after Moody's downgraded corporate group rating to Caa3 from Caa2 and rating on unsecured bonds to Ca from Caa3. The rating agency maintained a negative outlook on the company's debt.
Power Grid Corporation decreased 0.5% to ₹241.20, and the power distribution company is set to raise as much as ₹2,200 crore in a bond offering today.
Power Finance Corporation fell 2.2% to ₹385.80, and the company received approval from the Reserve Bank of India for setting up a finance company in GIFT city, Gujarat.
Shyam Metallics and Energy gained 0.6% to ₹641.65 after the company raised ₹1,385 crore through an institutional offering.
The company's offering attracted bids of ₹4,055 crore, about 3.5 times the offering size.
The company sold 24.05 lakh shares priced at ₹576 per share to 38 institutional investors.
Delta Corp. decreased 2.4% to ₹146.95 after the casino operator reported quarterly results.
Revenue in the December quarter rose 15% from a year ago to ₹231.7 crore, and net profit decreased 59% to ₹34.5 crore.
KIOCL fell 2.7% to ₹358.80 after the company temporarily suspended operations at its Mangalore plant because of the lack of iron ore fines.
Polycab India rose 0.8% to ₹4,906.30 after the company refuted recent media speculation about tax evasion.
The company said it has not received any communication from the Income Tax Department following the recent property searches conducted by the government agency.
IRCTC fell 0.9% to ₹912.85 after the railway ministry nominated Sanjay Kumar Jain as the chief managing director.
Steel Strips Wheels rose 0.7% to ₹257.25 after the company's plan to invest ₹138 crore in AMW Autocomponent Ltd was approved by the National Company Law Tribunal.