Market Update
S&P 500 Extends Rally to Third Consecutive Session On Merger Monday
Barry Adams
07 Jan, 2025
New York City
Stock market indexes wavered, and investors remained focused on the gathering of tech companies in Las Vegas for an annual trade show.
The S&P 500 index edged up 0.4%, and the Nasdaq inched higher 0.2% after Nvidia released a new superchip at the CES show in Las Vegas.
Chief executive Jensen Huang is scheduled to deliver a keynote address at the annual gathering, which attracts leading tech companies and attendees from around the world.
Despite the enthusiasm surrounding artificial intelligence, market sentiment was cautious ahead of the release of the JOLTS report later today.
Moreover, the yield on the 10-year U.S. Treasury note hovered near a seven-month high amid worries about resurgent inflation and a surge in federal debt under the president-elect Trump's administration.
In a four-day trading week, investors are awaiting the release of December's non-farm payrolls report, which could provide insights about labor market conditions.
The New York Stock Exchange will remain closed on Thursday in honor of the late former U.S. president, Jimmy Carter.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.4% to 5,999.98, the Nasdaq Composite rose 0.2% to 19,930.81, and the Russell 2000 index inched down by 0.02% to 2,266.65.
The yield on 2-year Treasury notes edged higher to 4.28%, 10-year Treasury notes inched up to 4.64%, and 30-year Treasury bonds increased to 4.86%.
WTI crude oil increased $0.45 to $74.01 a barrel, and natural gas prices edged down 5 cents to $3.62 a thermal unit.
Gold increased by $24.51 to $2,658.56 an ounce, and silver rose by $0.38 to $30.31.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.21 to 108.12 and traded at a two-year high.
U.S. Stock Movers
Nvidia Corp. increased 2.5% to $153.21 after the advanced chipmaker released a new chip for desktop and laptop devices that uses the company's advanced architecture for artificial intelligence chips.
Getty Images jumped 46% to $3.77, and Shutterstock advanced 26.5% to $38.0 after the two companies announced a merger plan.
After the $3.7 billion merger, Getty Images' chief executive will lead the combined company, and Shutterstock shareholders have one of three options, including $28.84 in cash per share.
Ulta Beauty jumped 3.6% to $447.0 after the company revised higher its fourth quarter outlook, citing a better-than-expected holiday season.
The specialty cosmetic retailer announced the retirement of chief executive Dave Kimbell after 11 years of leading the company, and current President and COO Kecia Steelman will take over the role.
Inari Medical Inc. jumped 22% to $78.95 after a report suggested that the medical device company is in advanced talks to be acquired by Stryker for as much as $4.9 billion.
The potential merger talk was reported by Reuters, citing people familiar with the discussion.
U.S. Movers: Getty Images, Inari Medical, Nvidia, Shutterstock, Stryker, Ulta Beauty
Scott Peters
07 Jan, 2025
New York City
Nvidia Corp. increased 2.5% to $153.21 after the advanced chipmaker released a new chip for desktop and laptop devices that uses the company's advanced architecture for artificial intelligence chips.
Getty Images jumped 46% to $3.77, and Shutterstock advanced 26.5% to $38.0 after the two companies announced a merger plan.
After the $3.7 billion merger, Getty Images' chief executive will lead the combined company, and Shutterstock shareholders have one of three options, including $28.84 in cash per share.
Ulta Beauty jumped 3.6% to $447.0 after the company revised higher its fourth quarter outlook, citing a better-than-expected holiday season.
The specialty cosmetic retailer announced the retirement of chief executive Dave Kimbell after 11 years of leading the company, and current President and COO Kecia Steelman will take over the role.
Inari Medical Inc. jumped 22% to $78.95 after a report suggested that the medical device company is in advanced talks to be acquired by Stryker for as much as $4.9 billion.
The potential merger talk was reported by Reuters, citing people familiar with the discussion.
U.S. Movers: Getty Images, Inari Medical, Nvidia, Shutterstock, Stryker, Ulta Beauty
Scott Peters
07 Jan, 2025
New York City
Nvidia Corp. increased 2.5% to $153.21 after the advanced chipmaker released a new chip for desktop and laptop devices that uses the company's advanced architecture for artificial intelligence chips.
Getty Images jumped 46% to $3.77, and Shutterstock advanced 26.5% to $38.0 after the two companies announced a merger plan.
After the $3.7 billion merger, Getty Images' chief executive will lead the combined company, and Shutterstock shareholders have one of three options, including $28.84 in cash per share.
Ulta Beauty jumped 3.6% to $447.0 after the company revised higher its fourth quarter outlook, citing a better-than-expected holiday season.
The specialty cosmetic retailer announced the retirement of chief executive Dave Kimbell after 11 years of leading the company, and current President and COO Kecia Steelman will take over the role.
Inari Medical Inc. jumped 22% to $78.95 after a report suggested that the medical device company is in advanced talks to be acquired by Stryker for as much as $4.9 billion.
The potential merger talk was reported by Reuters, citing people familiar with the discussion.
Europe Movers: NEXT, Sodexo
Inga Muller
07 Jan, 2025
Frankfurt
The Euro Area inflation rebounded in December, after energy prices halted steep decline and food prices stabilized.
The UK's home price index rose at a slower pace amid affordability issues. Italy's jobless rate dropped to a record low in December.
The DAX index increased by 0.2% to 20,255.52; the CAC-40 index rose by 0.5% to 7,480.62; and the FTSE 100 index inched lower by 0.2% to 8,233.65.
The yield on 10-year German bonds edged higher to 2.46%, French bonds rose to 3.28%, the UK gilts increased to 4.65%, and Italian bonds rose to 3.60%.
NEXT plc increased 3.8% to 9,916.0 pence after the specialty retailer reported strong sales in Christmas and raised its profit estimate for 2025.
The retailer said full-price sales in the nine-week holiday period to December 28 increased 6.0% from a year ago.
For the full-year ending in January 2025, group's pre-tax earnings are estimated to increase 10% to 1.01 million and pre-tax earnings per share by 11.4% to 843.8 pence, compared to previous estimate of 839.3 pence.
Sodexo SA dropped 8.4% to €72.55 after the French food services and facilities management company reported a weaker-than-expected increase in revenue in its fiscal first quarter.
Organic revenue in the quarter ending in November increased 4.6% to Є6.4 billion, after higher sales in Australia, Brazil, and India were offset by the weakness in Continental Europe.
Organic growth was impacted by a higher base due to the Rugby World Cup last year, partially offset by the Paralympics this year, and excluding these events, underlying organic growth in the first quarter was 4.9%.
Organic growth was driven by a 3% price increase, and the remainder increase was supported by new business contribution and sales volume growth.
Europe Movers: NEXT, Sodexo
Inga Muller
07 Jan, 2025
Frankfurt
The Euro Area inflation rebounded in December, after energy prices halted steep decline and food prices stabilized.
The UK's home price index rose at a slower pace amid affordability issues. Italy's jobless rate dropped to a record low in December.
The DAX index increased by 0.2% to 20,255.52; the CAC-40 index rose by 0.5% to 7,480.62; and the FTSE 100 index inched lower by 0.2% to 8,233.65.
The yield on 10-year German bonds edged higher to 2.46%, French bonds rose to 3.28%, the UK gilts increased to 4.65%, and Italian bonds rose to 3.60%.
NEXT plc increased 3.8% to 9,916.0 pence after the specialty retailer reported strong sales in Christmas and raised its profit estimate for 2025.
The retailer said full-price sales in the nine-week holiday period to December 28 increased 6.0% from a year ago.
For the full-year ending in January 2025, group's pre-tax earnings are estimated to increase 10% to 1.01 million and pre-tax earnings per share by 11.4% to 843.8 pence, compared to previous estimate of 839.3 pence.
Sodexo SA dropped 8.4% to €72.55 after the French food services and facilities management company reported a weaker-than-expected increase in revenue in its fiscal first quarter.
Organic revenue in the quarter ending in November increased 4.6% to Є6.4 billion, after higher sales in Australia, Brazil, and India were offset by the weakness in Continental Europe.
Organic growth was impacted by a higher base due to the Rugby World Cup last year, partially offset by the Paralympics this year, and excluding these events, underlying organic growth in the first quarter was 4.9%.
Organic growth was driven by a 3% price increase, and the remainder increase was supported by new business contribution and sales volume growth.
Euro Area Inflation Accelerated and UK Home Price Growth Slowed In December
Bridgette Randall
07 Jan, 2025
London
European markets lacked direction as investors reviewed the latest inflation updates and debated rate paths ahead of the policy meeting later this month.
Benchmark indexes in Paris, Frankfurt, Milan, and London wavered around the flatline after the Euro Area inflation accelerated in December.
Euro Area Inflation Accelerated for the Third Consecutive Month
The consumer price index in the eurozone increased for the third month in a row in December to 2.4% from 2.2% in November, Eurostat reported Tuesday.
The rebound in inflation was widely anticipated because of the base effects driven by the large decline in energy prices that are no longer available in energy prices.
Inflation for food, alcohol, and tobacco was stable, but for energy and services, it accelerated and eased for non-energy goods.
Inflation in Germany and France Diverged In December
The annual inflation in France was unchanged at 1.3% in December from the previous month, France's statistical agency INSEE reported Tuesday.
On Monday, Germany's statistical agency Destatis confirmed that the annual consumer price inflation accelerated to 2.6% in December, largely driven by the increase in energy prices.
Italy's Jobless Rate Dropped to Record Low In December
The jobless rate in Italy decreased to 5.7% in December from 5.8% in the previous month, the National Institute of Statistics, or ISTAT, reported Tuesday.
The jobless rate dropped to the lowest level since record keeping began in 1983.
The number of people seeking jobs decreased by 24,000 to 1.46 million, the lowest since April 2007; the employment participation rate was unchanged at 66.3%, and the number of employed eased by 13,000 to 24.06 million.
UK Home Price Growth Slowed In December
UK home prices rose at the slowest pace in five months in December, and the average home price eased, Halifax and Bank of Scotland said in a report.
The Halifax House Price Index increased 3.3% from a year ago in December, following a downwardly revised 4.7% increase in November.
The average house price eased 0.2% from the previous month to £297,166, after rising for two consecutive months.
"While the housing market has been supported in recent months by falling mortgage rates, income growth, and the announcement on upcoming stamp duty policy changes, mortgage affordability will remain a challenge for many, especially as the Bank Rate is likely to come down more slowly than previously predicted.
However, providing employment conditions don’t deteriorate markedly from a more recent softening, buyer demand should hold up relatively well, and, taking all this into account, we’re continuing to anticipate modest house price growth this year,” said Amanda Bryden, Head of Mortgages, Halifax.
Europe Indexes and Yields
The DAX index increased by 0.2% to 20,255.52; the CAC-40 index rose by 0.5% to 7,480.62; and the FTSE 100 index inched lower by 0.2% to 8,233.65.
The yield on 10-year German bonds edged higher to 2.46%, French bonds rose to 3.28%, the UK gilts increased to 4.65%, and Italian bonds rose to 3.60%.
The euro edged higher to $1.043; the British pound inched up to $1.255; and the U.S. dollar eased to 90.51 Swiss cents.
Brent crude increased $0.38 to $76.67 a barrel, and the Dutch TTF natural gas fell by €0.79 to €46.40 per MWh.
Europe Stock Movers
NEXT plc increased 3.8% to 9,916.0 pence after the specialty retailer reported strong sales in Christmas and raised its profit estimate for 2025.
Sodexo SA dropped 8.4% to €72.55 after the French food services and facilities management company reported a weaker-than-expected increase in revenue in its fiscal first quarter.
Organic revenue in the quarter ending in November increased 4.6% to Є6.4 billion, after higher sales in Australia, Brazil, and India were offset by the weakness in Continental Europe.
Organic growth was impacted by a higher base due to the Rugby World Cup last year, partially offset by the Paralympics this year, and excluding these events, underlying organic growth in the first quarter was 4.9%.
Organic growth was driven by a 3% price increase, and the remainder increase was supported by new business contribution and sales volume growth.
Euro Area Inflation Accelerated and UK Home Price Growth Slowed In December
Bridgette Randall
07 Jan, 2025
London
European markets lacked direction as investors reviewed the latest inflation updates and debated rate paths ahead of the policy meeting later this month.
Benchmark indexes in Paris, Frankfurt, Milan, and London wavered around the flatline after the Euro Area inflation accelerated in December.
Euro Area Inflation Accelerated for the Third Consecutive Month
The consumer price index in the eurozone increased for the third month in a row in December to 2.4% from 2.2% in November, Eurostat reported Tuesday.
The rebound in inflation was widely anticipated because of the base effects driven by the large decline in energy prices that are no longer available in energy prices.
Inflation for food, alcohol, and tobacco was stable, but for energy and services, it accelerated and eased for non-energy goods.
Inflation in Germany and France Diverged In December
The annual inflation in France was unchanged at 1.3% in December from the previous month, France's statistical agency INSEE reported Tuesday.
On Monday, Germany's statistical agency Destatis confirmed that the annual consumer price inflation accelerated to 2.6% in December, largely driven by the increase in energy prices.
Italy's Jobless Rate Dropped to Record Low In December
The jobless rate in Italy decreased to 5.7% in December from 5.8% in the previous month, the National Institute of Statistics, or ISTAT, reported Tuesday.
The jobless rate dropped to the lowest level since record keeping began in 1983.
The number of people seeking jobs decreased by 24,000 to 1.46 million, the lowest since April 2007; the employment participation rate was unchanged at 66.3%, and the number of employed eased by 13,000 to 24.06 million.
UK Home Price Growth Slowed In December
UK home prices rose at the slowest pace in five months in December, and the average home price eased, Halifax and Bank of Scotland said in a report.
The Halifax House Price Index increased 3.3% from a year ago in December, following a downwardly revised 4.7% increase in November.
The average house price eased 0.2% from the previous month to £297,166, after rising for two consecutive months.
"While the housing market has been supported in recent months by falling mortgage rates, income growth, and the announcement on upcoming stamp duty policy changes, mortgage affordability will remain a challenge for many, especially as the Bank Rate is likely to come down more slowly than previously predicted.
However, providing employment conditions don’t deteriorate markedly from a more recent softening, buyer demand should hold up relatively well, and, taking all this into account, we’re continuing to anticipate modest house price growth this year,” said Amanda Bryden, Head of Mortgages, Halifax.
Europe Indexes and Yields
The DAX index increased by 0.2% to 20,255.52; the CAC-40 index rose by 0.5% to 7,480.62; and the FTSE 100 index inched lower by 0.2% to 8,233.65.
The yield on 10-year German bonds edged higher to 2.46%, French bonds rose to 3.28%, the UK gilts increased to 4.65%, and Italian bonds rose to 3.60%.
The euro edged higher to $1.043; the British pound inched up to $1.255; and the U.S. dollar eased to 90.51 Swiss cents.
Brent crude increased $0.38 to $76.67 a barrel, and the Dutch TTF natural gas fell by €0.79 to €46.40 per MWh.
Europe Stock Movers
NEXT plc increased 3.8% to 9,916.0 pence after the specialty retailer reported strong sales in Christmas and raised its profit estimate for 2025.
Sodexo SA dropped 8.4% to €72.55 after the French food services and facilities management company reported a weaker-than-expected increase in revenue in its fiscal first quarter.
Organic revenue in the quarter ending in November increased 4.6% to Є6.4 billion, after higher sales in Australia, Brazil, and India were offset by the weakness in Continental Europe.
Organic growth was impacted by a higher base due to the Rugby World Cup last year, partially offset by the Paralympics this year, and excluding these events, underlying organic growth in the first quarter was 4.9%.
Organic growth was driven by a 3% price increase, and the remainder increase was supported by new business contribution and sales volume growth.
Tokyo Tech Rally Lifts Nikkei 225 1.9%, Yen Approaches Six-Month Low
Akira Ito
07 Jan, 2025
Tokyo
Benchmark indexes in Tokyo rebounded, tracking gains in tech stocks in New York in overnight trading.
The Nikkei 225 Stock Average soared 1.9%, and the broader TOPIX gained 1%, following a rise in semiconductor stocks in overnight trading in New York.
Semiconductor-related stocks jumped after the Taiwan-based Foxconn reported a sharp jump in revenue in the December quarter, citing strong demand for artificial intelligence servers.
Foxconn said it will release full fourth-quarter results on March 14.
The rally in tech stocks broadened to financials, retailers, and automotive companies.
In the week ahead, investors are looking forward to the release of household income and spending data, which could provide additional clues about consumer spending and saving.
Japan Stock Movers
The Nikkei 225 Stock Average increased 1.9% to 40,060.95, and the broader TOPIX index jumped 1% to 2,783.87.
Advantest Corp. jumped 4.8% to ¥9,747.0, Tokyo Electron Ltd. soared 11.5% to ¥27,110.0, Disco Corp. increased 7.6% to ¥46,470.0, and Lasertec Corp. advanced 5.8% to ¥15,870.0.
Mitsubishi UFJ Financial Group increased 2.9% to ¥1,913.0, Sumitomo Mitsui Financial Group advanced 2.4% to ¥3,872.0, and Mizuho Financial Group gained 2.2% to ¥3,969.0.
Fast Retailing Co. Ltd. increased 1.2% to ¥52,180.0, Seven & I Holdings Co. Ltd. inched higher 0.3% to ¥2,449.0, and Isetan Mitsukoshi Holdings Ltd. gained 0.8% to ¥2,705.0.
Toyota Motor Corp. gained 1.6% to ¥3,061.0, Honda Motor Corp. increased 1.6% to ¥1,607.50, Nissan Motor Corp. added 1.1% to ¥480.50, and Subaru Corp. advanced 1.6% to ¥2,793.50.
Tokyo Tech Rally Lifts Nikkei 225 1.9%, Yen Approaches 160 Yen
Akira Ito
07 Jan, 2025
Tokyo
Benchmark indexes in Tokyo rebounded, tracking gains in tech stocks in New York in overnight trading.
The Nikkei 225 Stock Average soared 1.9%, and the broader TOPIX gained 1%, following a rise in semiconductor stocks in overnight trading in New York.
Semiconductor-related stocks jumped after the Taiwan-based Foxconn reported a sharp jump in revenue in the December quarter, citing strong demand for artificial intelligence servers.
Foxconn said it will release full fourth-quarter results on March 14.
The rally in tech stocks broadened to financials, retailers, and automotive companies.
In the week ahead, investors are looking forward to the release of household income and spending data, which could provide additional clues about consumer spending and saving.
Japan Stock Movers
The Nikkei 225 Stock Average increased 1.9% to 40,060.95, and the broader TOPIX index jumped 1% to 2,783.87.
Advantest Corp. jumped 4.8% to ¥9,747.0, Tokyo Electron Ltd. soared 11.5% to ¥27,110.0, Disco Corp. increased 7.6% to ¥46,470.0, and Lasertec Corp. advanced 5.8% to ¥15,870.0.
Mitsubishi UFJ Financial Group increased 2.9% to ¥1,913.0, Sumitomo Mitsui Financial Group advanced 2.4% to ¥3,872.0, and Mizuho Financial Group gained 2.2% to ¥3,969.0.
Fast Retailing Co. Ltd. increased 1.2% to ¥52,180.0, Seven & I Holdings Co. Ltd. inched higher 0.3% to ¥2,449.0, and Isetan Mitsukoshi Holdings Ltd. gained 0.8% to ¥2,705.0.
Toyota Motor Corp. gained 1.6% to ¥3,061.0, Honda Motor Corp. increased 1.6% to ¥1,607.50, Nissan Motor Corp. added 1.1% to ¥480.50, and Subaru Corp. advanced 1.6% to ¥2,793.50.
Hang Seng Index Dropped 2% After U.S. Expanded Chinese Military Entities List
Li Chen
07 Jan, 2025
Hong Kong
Stocks in China and Hong Kong traded down in active trading amid rising trade tensions with the U.S. and ongoing weakness in the property market.
The Hang Seng index dropped 2%, and the mainland-focused CSI 300 index decreased 0.2% as investors reacted to the latest inclusion of key Chinese tech companies as "military entities" by the U.S.
CATL, Cosco Shipping, and Tencent Holdings were included in the supplementary list among dozens of Chinese military companies in the Federal Register released by the Department of Defense on January 7.
The inclusion in the register does not impose a trade ban with the companies but acts as a warning to U.S. investors from investing in these publicly traded companies.
China Stock Movers
The Hang Seng index dropped 2.2% to 19,257.84, and the mainland-focused CSI 300 index fell 0.2% to 3,759.95.
The yield on 10-year Chinese government notes hovered near a record low of 1.6% amid persistent deflation worries and a lack of improvement in the property market outside of three key urban regions—Beijing, Shanghai, and Shenzhen.
CATL dropped 3.4% to ¥247.99, Cosco Shipping Holdings dropped 4% to HK $12.18, and Tencent Holdings plunged 7.3% to HK $379.40.
Other technology stocks declined on the worries that the U.S. may expand the banned list of companies in the sector for future investments.
JD.com dropped 1.5% to HK $133.70, Meituan fell 2.4% to HK $147.10, Alibaba Group Holding decreased 1.3% to HK $81.05. and Baidu declined 0.9% to HK $80.0.
Property developers continued the decline as activities in top cities outside three key urban regions are expected to remain weak in 2025.
China Vanke Ltd. decreased 1.6% to HK $4.95, China Resources Land fell 0.7% to HK $22.0, Longfor Group dropped 0.9% to HK $9.84, and Henderson Land Development declined 1.7% to HK $22.85.
Hang Seng Index Dropped 2% After U.S. Expanded Chinese Military Entities L
Li Chen
07 Jan, 2025
Hong Kong
Stocks in China and Hong Kong traded down in active trading amid rising trade tensions with the U.S. and ongoing weakness in the property market.
The Hang Seng index dropped 2%, and the mainland-focused CSI 300 index decreased 0.2% as investors reacted to the latest inclusion of key Chinese tech companies as "military entities" by the U.S.
CATL, Cosco Shipping, and Tencent Holdings were included in the supplementary list among dozens of Chinese military companies in the Federal Register released by the Department of Defense on January 7.
The inclusion in the register does not impose a trade ban with the companies but acts as a warning to U.S. investors from investing in these publicly traded companies.
China Stock Movers
The Hang Seng index dropped 2.2% to 19,257.84, and the mainland-focused CSI 300 index fell 0.2% to 3,759.95.
The yield on 10-year Chinese government notes hovered near a record low of 1.6% amid persistent deflation worries and a lack of improvement in the property market outside of three key urban regions—Beijing, Shanghai, and Shenzhen.
CATL dropped 3.4% to ¥247.99, Cosco Shipping Holdings dropped 4% to HK $12.18, and Tencent Holdings plunged 7.3% to HK $379.40.
Other technology stocks declined on the worries that the U.S. may expand the banned list of companies in the sector for future investments.
JD.com dropped 1.5% to HK $133.70, Meituan fell 2.4% to HK $147.10, Alibaba Group Holding decreased 1.3% to HK $81.05. and Baidu declined 0.9% to HK $80.0.
Property developers continued the decline as activities in top cities outside three key urban regions are expected to remain weak in 2025.
China Vanke Ltd. decreased 1.6% to HK $4.95, China Resources Land fell 0.7% to HK $22.0, Longfor Group dropped 0.9% to HK $9.84, and Henderson Land Development declined 1.7% to HK $22.85.
India Movers: Arkade Developers, ICICI Securities, Info Edge, Macrotech Developers, NESCO
Arun Goswami
07 Jan, 2025
Mumbai
Stock market indexes rebounded from the sharp losses in the previous session after the HMPV scare dampened market sentiment. The rupee traded at a new record low for the tenth session in a row.
The Sensex index increased by 0.6% to 78,409.64, and the Nifty index rose by 0.6% to 23,767.30.
On the Mumbai stock exchange, 47 stocks traded at their 52-week highs, and 55 stocks traded at their 52-week lows.
Macrotech Developers Ltd. rose 0.7% to ₹1,356.0, and the residential property developer reported record quarterly presales in the December quarter.
Booking for new residential flats increased 32% from a year ago to ₹4,510 crore in the fiscal third quarter.
ICICI Securities Ltd. increased 0.9% to ₹847.0, and the brokerage company settled for ₹40 lakh with the SEBI for the misuse of the stock trading system and failing to monitor staff for following the regulatory guidelines.
Arkade Developers Ltd. increased 2.6% to ₹176.78 after the company said it signed deals to redevelop three residential projects in the western suburb region of Mumbai with a revenue potential of ₹2,150 crore.
Info Edge India Ltd. decreased 2.9% to ₹8,555.0 after the parent company of Naukri.com reported higher revenue in the December quarter.
Revenue in the fiscal third quarter increased 15.8% to ₹668.3 crore from ₹576.9 crore a year ago.
Recruitment solution segment revenue advanced 15.2% to ₹494 crore from ₹428.9 crore a year ago.
NESCO Ltd. increased 1.2% to ₹1,005.50, and the company was declared as the lowest bidder for developing and operating rest areas and facilities on a concession basis in the South Zone on the Bengaluru-Chennai Corridor Expressway Phase II.
India Movers: Arkade Developers, ICICI Securities, Info Edge, Macrotech Developers, NESCO
Arun Goswami
07 Jan, 2025
Mumbai
Stock market indexes rebounded from the sharp losses in the previous session after the HMPV scare dampened market sentiment. The rupee traded at a new record low for the tenth session in a row.
The Sensex index increased by 0.6% to 78,409.64, and the Nifty index rose by 0.6% to 23,767.30.
On the Mumbai stock exchange, 47 stocks traded at their 52-week highs, and 55 stocks traded at their 52-week lows.
Macrotech Developers Ltd. rose 0.7% to ₹1,356.0, and the residential property developer reported record quarterly presales in the December quarter.
Booking for new residential flats increased 32% from a year ago to ₹4,510 crore in the fiscal third quarter.
ICICI Securities Ltd. increased 0.9% to ₹847.0, and the brokerage company settled for ₹40 lakh with the SEBI for the misuse of the stock trading system and failing to monitor staff for following the regulatory guidelines.
Arkade Developers Ltd. increased 2.6% to ₹176.78 after the company said it signed deals to redevelop three residential projects in the western suburb region of Mumbai with a revenue potential of ₹2,150 crore.
Info Edge India Ltd. decreased 2.9% to ₹8,555.0 after the parent company of Naukri.com reported higher revenue in the December quarter.
Revenue in the fiscal third quarter increased 15.8% to ₹668.3 crore from ₹576.9 crore a year ago.
Recruitment solution segment revenue advanced 15.2% to ₹494 crore from ₹428.9 crore a year ago.
NESCO Ltd. increased 1.2% to ₹1,005.50, and the company was declared as the lowest bidder for developing and operating rest areas and facilities on a concession basis in the South Zone on the Bengaluru-Chennai Corridor Expressway Phase II.