KEY HIGHLIGHTS
Closing Bell: Another Strong Session
Indian equity markets ended the weekly options expiry session with gains, extending their winning run to the second day.
The S&P BSE Sensex ended 1.2% higher at 35,843, while the NSE Nifty 50 index ended at 10,551, up by 1.17%. As of closing today, the Sensex is up 1.9% while the Nifty is up 1.6% on a weekly basis.
Banks were the underperformers in today's session. The Nifty Bank index ended little changed, led mainly by losses in Axis Bank. The PSU Bank index too ended little changed, with a negative bias.
Auto stocks outperformed in today's session with the Nifty Auto index ending 2.9% higher. Gains were led by Mahindra and Mahindra (up 6.4%) and Hero MotoCorp (up 5.2%). Both the stocks were also the top two gainers on the Nifty 50 index.
The other sector that contributed to gains today was I.T. The Nifty I.T. index ended 2.65% higher led by Infosys, HCL Tech and TCS.
Broader markets moved in tandem with the benchmarks with the midcap and smallcap index ending with gains of 1% each.
The India Volatility Index ended 5.7% lower at 26.5 - its lowest level in four months.
Market breadth remained in favour of the advances throughout the session. 1,090 stocks on the NSE ended with gains while 720 ended with losses.
The Sectoral Picture For The Day
Stock Reaction: Metropolis Healthcare
The diagnostic player has informed the exchanges that the promoters of Shraddha Diagnostic Centre have decided to terminate the Share Purchase agreement signed earlier this year.
The company intended to acquire 51% stake in Shraddha Diagnostic Centre from its promoters, for a total consideration of Rs 9.3 crore, as per its statement on January 16 this year.
The closure of the agreement was subject to fulfillment of certain conditions specified in the Share Purchase Agreement. The promoters of Shraddha Diagnostic Centre have communicated that they will not be able to fulfill certain conditions and as a result, the proposed acquisition not stands closed.
Shares ended 0.3% higher, after gaining as much as 1.8% to Rs 1,374, post the announcement.
Buzzing Stock: Dredging Corporation Of India
- Snaps three-day losing streak
- Gains as much as 9.6% to Rs 274.7
- Biggest single-day gain in two months
- Trades at the highest level in four months
- Today's volumes are double of its 30-day average
- Has more than doubled from its 52-week low of Rs 121 on March 24, 2020
- Trades near its 200-Day Moving Average of 285.5
What's Worrying Indian Generic Drugmakers
Frederik Groth Joins Birla Firm
Kumar Mangalam Birla-controlled Swiss Singapore Overseas Enterprises has hired Frederik Groth as MD & CEO of the company, people with knowledge of the matter told Bloomberg News.
Groth will take over from Rajesh Somani, who will remain with the company as an advisor to the commodities business.
Swiss Singapore Overseas Enterprises has an annual revenue of $4.7 billion and trading volumes of more than 31 million tonnes a year, according to the website.
Groth will join next month and will be based in Dubai.
The company did not respond to Bloomberg News' email seeking a comment.
Buzzing Stock: Titan Company
- Among top gainers on the Nifty-50 index
- Gains as much as 4.7% to Rs 993
- Biggest single-day gain in a month
- Snaps six-day losing streak
- Adds Rs 3,840 crore to its market capitalisation today
- Today's volumes are 0.7 times higher than its 30-day average
- Nearing 100-Day Moving Average of 1,015
- Up 37.5% from 52-week low of Rs 720 on March 24, 2020
- 13 out of the 33 analysts tracking the stock have a buy recommendation; 8 sell calls
- Return potential of the stock as per Bloomberg data is 3.1%
Results Update: GE T&D India
- Order bookings down 32% to Rs 660 crore
- For FY20, order bookings at Rs 3,020 crore from Rs 3,750 crore
- Won five major orders in the fourth quarter
- Commissioned four key projects in the fourth quarter
- Order backlog of Rs 5,890 crore as on March 2020
- Indian energy landscape undergoing significant positive transformation
Shares are locked in an upper circuit of 5% at Rs 76.95, snapping a five-day losing streak.
Strong Traction In Auto Stocks
Buzzing Stock: Phillips Carbon Black
- Among top performers on the Nifty Smallcap Index
- Gains as much as 13.5% to Rs 101.35
- Biggest single-day gain since September 2019
- Trades at the highest level in four months
- Up for the second straight day
- Today's volumes are triple its 30-day average
- Trades near its 200-Day Moving Average of 105.7
- Has nearly doubled from its 52-week low of Rs 54.1 on March 24, 2020
- Two out of the six analysts tracking the stock have a buy recommendation; 0 sell calls
- Return potential of the stock as per Bloomberg data is 1.1%
Markets At 2:10 P.M.
- Benchmark indices extend gains
- Nifty up 1.5% at 10,584
- Sensex up 1.6% at 35,982
- Nifty Bank up 0.9% at 22,178
- Nifty Midcap Index up 1.2%
- Nifty Smallcap Index up 1%
- India Volatility Index down 5.1% to 26.67
- Nifty I.T. remains the top sectoral gainer; up 3%
- Nifty Auto index extends gains; up 2.1%
- Nifty Media and Nifty Metal index up 0.7%
- Nifty Realty index reverses losses; up 0.2%
- Mahindra & Mahindra is the top Nifty gainer; up 5.2%
- Eicher Motors is the top Nifty laggard; down 1.2%
- 1,132 stocks on the NSE trade with gains while 632 decline
Money Market Update
The currency resumed its strengthening against the dollar, tracking strong cues from the equity markets, after snapping a four-day winning run on Wednesday.
The rupee ended at 75 against the U.S. Dollar as compared to Wednesday's close of 75.58. This was the biggest single-day advance for the rupee in three months.
Today's gains also meant that the currency ended as the best performer in Asia.
Yield on the 10-year government bond ended at 5.841% as compared to the opening level of 5.827%.
South Indian Bank Proposes Next CEO
Kerala-based private lender South Indian Bank has nominated Murali Ramakrishnan as its next CEO, Bloomberg News reports, citing people familiar with the matter.
The bank's appointment has sent two names to the Reserve Bank of India for approval, with Ramakrishnan being the preferred choice.
Ramakrishnan retired from ICICI Bank in May as head of the small and medium enterprises group.
The bank's current CEO VG Mathew, is due to retire in September. EMA Partners, which has the mandate to find the new CEO, declined Bloomberg News' request for a comment on the story.
Shares are locked in an upper circuit of 5% at Rs 8.05 per share, snapping a three-day losing streak.
Active Stock Options
- Reliance Industries' 1,800 Call: Premium up 18.6% to Rs 57.5. The contract has added 2.15 lakh shares in Open Interest.
- HDFC Bank's 1,100 Call: Premium up 11% to Rs 37.9. The contract has added 2.15 lakh shares in Open Interest.
- Axis Bank's 440 Call: Premium down 20% to Rs 21.45. The contract has added 7.98 lakh shares in Open Interest.
Buzzing Stock: APL Apollo Tubes
- Top performing stock on the Nifty 500 index
- Gains as much as 10.5% to Rs 1,790
- Biggest single-day gain in two months
- Trades at the highest level in four months
- Up for the third straight day
- Longest winning streak in a month
- Has gained 17.3% in the last three trading sessions
- Today's volumes are 4.8 times higher than its 30-day average
- Stock trades in overbought territory with Relative Strength Index (RSI) at 71
- Has gained 73.6% from its 52-week low of Rs 1,030 on March 19, 2020
- 8 out of the 10 analysts tracking the stock have a buy recommendation; 0 sell calls
- Return potential of the stock as per Bloomberg data is 3.9%
Stock Reaction: Tata Power
- Approves equity raise of Rs 2,600 crore through preferential issue
- To issue 49.05 crore shares to Tata Sons at Rs 53 per share, a 15% premium to Wednesday's close
- To set up InvIT for the company's renewable business
- Shareholding of Tata Sons to increase to 45.21% from 35.27%
- Shareholding of the Tata Group to increase to 46.86% from 37.22%
Tata Power's Long-term Strategic Plan:
- Divestment of non-core and certain overseas investments
- Reduction of debt thereby strengthening balance sheet
- Restructuring some businesses to unlock
- Raise equity to reduce unsustainable debt in the company or subsidiaries
Shares ended higher for the third straight day, with gains of 7.6% at Rs 49.6.
Seventh Day Of Losses For The Realty Index; Most Since October 2018
Positive Start To Trade In Europe
Benchmark indices have opened higher in Europe has focus remains on economic recovery as opposed to rising Covid-19 cases in many parts of the world.
The Stoxx 600 index has gained 0.8% on open with banks, chemicals and construction stocks outperforming. Utilities are the laggards in early trade.
Most Asian markets have ended with gains while futures on the Dow Jones are now trading higher by 100 points.
Brent crude trades 0.8% higher at $42.37 per barrel while gold is little changed at $1,769.2/Oz.
Let's take a look at how benchmark indices across Europe have opened:
- Euro Stoxx 50 up 0.9% at 3,256
- DAX up 1% at 12,381
- CAC up 0.75% at 4,964
- FTSE 100 up 0.66% at 6,199
- IBEX 35 up 1% at 7,299
How Are The Sectoral Indices Faring
Stock Reaction: Dixon Technologies
The company has forayed into the business of manufacturing set top boxes, it said in an exchange filing on Wednesday.
The estimated investment in the line of business will be in the range of Rs 40-50 lakh, according to the company.
It anticipates a revenue of Rs 100-150 crore from the said business in FY21 with profitability.
Shares gained as much as 1.9% to an all-time high of Rs 5,988. The stock is up for the third straight day in today's session.
Earnings Reaction: Eveready Industries
The battery maker reported a 32.4% drop in its revenue while the 13 times increase in its net profit was due to an exceptional gain of Rs 62 crore due to sale of its land in Hyderabad.
The company's operational performance improved with Ebitda rising 2.1 times while margins expanding to 12.7% from 4% due to lower other expenses, employee costs and raw material costs.
The company attributed a loss of Rs 60 crore this quarter due to Covid-19.
Management Commentary:
- Core categories of batteries and flashlights witnessing healthy demand.
- Situation in the battery segment likely to improve further on full implementation of BIS Standards.
- Sharp decrease in dumped imports from China.
- Disruptions in unorganised market due to non-availability of supplies.
Shares gained as much as 8.4% to a 52-week high of Rs 94.8, before cooling off. It is gaining for the fourth straight day in today's session.
Stock Reaction: Railway Stocks
The Indian Railways is seeking investment from private players to operate high-speed passenger trains in the country, as it seeks to reduce travel time and expand capacity.
The Ministry of Railways has invited requests for qualifications from private firms to operate passenger train services in over 109 origin-destination routes through 151 modern trains.
Majority of the trains would be manufactured in India, according to the ministry.
- Shares of IRCTC gained as much as 7.7% - the most in four months to Rs 1,467.8.
- Shares of IRCON International gained as much as 10.3% - the most in over two months to Rs 99.
- Shares of Rail Vikas Nigam gained as much as 13.5% - the most since April 2019 to Rs 21.45, which is a four-month high.
- Shares of RITES gained as much as 13.6% - the most since July 2018 to Rs 292.9.
- Shares of Titagarh Wagons are locked in an upper circuit of 5% at Rs 36.05.
Markets At Noon
- Benchmark indices hold on to gains
- Nifty up 1.1% at 10,539
- Sensex up 1.1% at 35,800
- Nifty Bank up 0.4% at 22,072
- Nifty Midcap Index up 0.8%
- Nifty Smallcap Index up 0.9%
- India Volatility Index down 3.1% to 27.24
- Nifty I.T. Index remains the top sectoral gainer; up 2.3%
- Nifty Auto Index up 1.4% with gains led by M&M, Hero MotoCorp
- Nifty Realty Index down for the seventh straight day; longest since October 2018
- Nifty FMCG is the other sectoral laggard; down 0.3%
- Hero MotoCorp is the top Nifty gainer; up 4.3%
- Axis Bank remains the top Nifty laggard; down 2.1%
- 1,054 stocks on the NSE trade with gains while 652 decline
Rating Agencies Look To Withdraw Ratings Of Non-Cooperating Issuers
India's rating agencies are seeking permission to withdraw issuer ratings on companies which are not cooperating as these assessments do not reliably reflect credit quality, Bloomberg reports.
Citing a document from major rating agencies submitted to the Reserve Bank of India, the report states that the number of credit ratings where issuers are not co-operating more than doubled to 47% of the total in the two years to March 2020. Bank loans make up over 95% of such ratings.
The recommendations are for ratings to be withdrawn within 12-15 months of being placed in this category.
Ratings agencies were not available for a comment while the Reserve Bank did not reply to an email, seeking a comment on the same.
Buzzing Stock: Polycab India
- Among top performers on the Nifty 500 index
- Gains as much as 8.2% to Rs 863.7
- Biggest single-day gain since March this year
- Up for the third straight day
- Trading at the highest level in nearly four months
- Gains 11.1% in the last three sessions
- Today's volumes are 3.7 times higher than its 30-day average
- Breaks above its 200-Day Moving Average at 847.8
- Incorporates wholly-owned subsidiary in Australia
- Has gained 63.8% from its 52-week low of Rs 525
- 12 out of the 15 analysts tracking the stock have a buy recommendation; 0 sell calls
- Return potential of the stock as per Bloomberg data is 1.8%
Stock Reaction: Pfizer
An early trial of an experimental Covid-19 vaccine from Pfizer Inc. and BioNtech SE showed that it was safe and it prompted patients to produce antibodies against the new virus, Bloomberg News reported.
The test was carried out on 45 healthy adults divided into several groups. 12 got a single shot with a very heavy dose while nine of them got two dummy injections.
The vaccine produced 'significant levels of virus neutralising antibody', according to Peter Hotez of the National School of Tropical Medicine at Baylor College of Medicine.
Shares gained as much as 8.55% to Rs 4,313 while the parent company ended 5% higher on Wall Street overnight.
F&O Snapshot: Active Options Contracts
- Nifty July futures add 8.2% and 8.77 lakh shares in Open Interest.
- Nifty July futures add 20.7% and 2.8 lakh shares in Open Interest.
Nifty: Today's Expiry
- 10,600 Call: Premium down 38.3% to Rs 4.3. The contract has added 27.64 lakh shares in Open Interest.
- 10,500 Call: Premium up 10% to Rs 32.5. The contract has added 7.1 lakh shares in Open Interest.
- 10,500 Put: Premium down 60% to Rs 38.5. The contract has added 37.91 lakh shares in Open Interest.
Nifty Bank: Today's Expiry
- 22,500 Call: Premium down 61.4% to Rs 17.8. The contract has added 12.3 lakh shares in Open Interest.
- 23,500 Call: Premium down 79.6% to Rs 0.55. The contract has added 4.5 lakh shares in Open Interest.
- 22,000 Put: Premium down 27.5% to Rs 166.75. The contract has added 5.53 lakh shares in Open Interest.
MOIL Revises Prices For July
- Prices of all ferro grades and fines reduced by about 15% as compared to the month of June.
- Prices of SMGR grades and chemical grades reduced by about 10% as compared to June.
- Basic price of Electrolytic Manganese Di-oxide has been the same since April 1, 2020.
- Ferro Manganese / Ferro Menganese Slag and some identified grades of Manganese Ore will continue to be sold by e-auction as well as through MSTC's Metal Mandi.
Shares gained as much as 2.75% to Rs 145.85 and are up for the second straight day.
Just Dial Is The Only Laggard On The I.T. Index
Buzzing Stock: Eclerx Services
- Top performer on the Nifty 500 index
- Gains as much as 9.2% to Rs 493.8
- Biggest single-day gain in over two months
- Trades at the highest level in nearly four months
- Gains for the fifth straight day
- Longest winning streak since April this year
- Up 12% in the last five trading sessions
- Today's volumes are 3.2 times higher than its 30-day average
- Trading at its 200-Day Moving Average of 490.7
- Up 53.1% from its 52-week low of Rs 320 on March 24, 2020
- Three out of the 11 analysts tracking the stock have a buy recommendation; 5 sell calls
- Return potential for the stock as per Bloomberg data is 1.9%
Stock Reaction: IPCA Laboratories
The drugmaker has informed the exchanges that the U.S. FDA through an e-mail on July 1, has informed that the shortage implications for Hydroxychloroquine Sulphate have changed.
The drug has been removed from the list of drug products in shortage.
As a result, the regulator has removed the exemption given to the company from the import alert for API and formulation of Hydroxychloroquine Sulphate.
Shares have given up gains and are at the day's low, down 0.5% at Rs 1,641.
Monthly Business Update: Steel Strips Wheels
- Total wheel rim sales down 43% to 6.46 lakh
- Gross turnover in June down 42% to Rs 97.59 crore
- Net turnover down 41% in June to Rs 82.76 crore
- Tractor segment operating at 100% utilisation in June and is expected to run at 100% for the next four months
- Exports have reached pre-Covid-19 levels
- Passenger cars volumes declines 38%
- Tractor volumes see growth of 45%
- Truck volumes declines 78%
- Exports flat while two and three-wheeler volumes down 91%
Shares are at the day's low, falling as much as 1.5% to Rs 432.1, snapping a two-day losing streak.
Markets At 10:20 A.M.
- Benchmark indices trade near the day's high
- Nifty up 0.87% at 10,520
- Sensex up 0.9% at 35,731
- Nifty Bank up 0.7% at 22,137
- Nifty Midcap Index up 0.7%
- Nifty Smallcap Index up 1%
- India Volatility Index down 2.3% to 27.45
- Nifty I.T. is the top sectoral gainer; up 2.1%
- Nifty Media and Nifty Auto index gain 1% each
- Mahindra & Mahindra is the top Nifty gainer; up 3.4%
- Axis Bank is the top Nifty laggard; down 1.4%
- 1,142 stocks on the NSE trade with gains while 505 decline
Stock Reaction: Axis Bank
The Mumbai-based private lender at its board meeting held today has approved the proposal to raise funds to the tune of Rs 15,000 crore.
The funds will be raised through issue of equity shares, depository receipts or through a QIP, the bank said in an exchange filing.
The raising of funds will be subject to shareholder approval and will be put forth at the bank's AGM, the statement said.
The stock gave up gains to trade 1.1% lower at Rs 428.50 per share.
Money Market Update
The rupee opened with gains in today's session after snapping a four-day winning steak on Wednesday.
The currency opened at 75.49 against the U.S. Dollar as compared to Wednesday's close of 75.58.
Within the bond market, traders will look forward to the Open Market Operation to be conducted by the Reserve Bank of India after a gap of two months.
Yield on the 10-year government bond cooled off further to 5.84% on Wednesday, ahead of the OMO.
June Auto Sales: Bajaj Auto
Shares are little changed after gaining as much as 1.55% to Rs 2,886.
Covid-19 Cases In India Cross The 6 Lakh Mark
- India adds 19,148 new cases in the last 24 hours
- Total number of cases in the country now at 6,04,641
- Active cases at 2,26,947
- Patients who were cured / discharged / migrated at 3,59,860
- Death toll rises to 17,834
- 434 deaths reported in the last 24 hours
- 11,881 patients were cured in the last 24 hours
Stock Reaction: Jindal Steel and Power
The company reported a 12% rise in its standalone sales for the April-June period to 1.56 million tonnes.
Production during the period grew 8% to 1.67 million tonnes, it said in an exchange filing. This was the highest ever quarterly steel production achieved by the company.
According to the company, exports contributed 58% of the total sales volume during the quarter.
Exports were the highest ever at 9 lakh tonnes during the quarter.
Shares gained as much as 2.2% to Rs 157.20, post the announcement.
Stock Reaction: Divi's Laboratories
Market regulator Securities and Exchange Board of India (SEBI) in an impounding order said that eight entities of the company, indulged in insider trading of the company's stock between July 7 to July 10, 2017.
The entities include CFO L Kishore Babu, his son Praveen Lingamneni, banking team manager Nagesh Lingamaneni and his wife Lakshmi, Licensing team manager D Srinivasa Rao and his wife Radhika and Gopichand Lingamaneni and his wife Pushpa Latha Devi.
The regulator has alleged unlawful gains of Rs 96.68 lakh against these entities.
It has frozen all debits from their bank and demat accounts and has directed them to not alienate assets.
Shares fell as much as 6.75% to Rs 2,090 and are down for the fourth straight day.
Stock Reaction: Dilip Buildcon
The construction company has been declared as the L-1 bidder for a new EPC project worth Rs 4,167.7 crore, it said in an exchange filing.
The project involves construction of Bhadbhut Barrage, flood protection embankments and associated works across the river Narmada in the Bharuch district of Gujarat.
The project is to be completed over a period of 48 months and involves a maintenance period of 10 years.
Shares gained as much as 9.44% - the biggest single-day jump in over two-months to Rs 297.40, the highest level in nearly four months.
Opening Bell: Gains Extend
Indian equity markets opened higher for the second day, tracking positive cues from Asia and positive developments over a potential Covid-19 vaccine.
The S&P BSE Sensex opened 0.54% higher at 35,604 while the NSE Nifty 50 index opened 0.6% higher, near the 10,500 mark at 10,493. 48 out of the 50 index constituents have opened with gains.
Among the sectoral indices, the Nifty Pharma index was the only sectoral laggard opening 0.4% lower while the Media index opened 1.4% higher. The Nifty Realty, Nifty Bank and Nifty Auto index gained 0.7% each.
Market breadth opened in favour of the advances. 1,078 stocks on the NSE opened with gains while 363 declined.
Latest On The Coronavirus
- Global cases cross the 10.6 million mark
- Death toll rises to 5.15 lakh
- Daily cases in the U.S. cross 50,000 for the first time ever
- Reopenings halted in cities like New York and California
- Only one new case reported in Beijing
- Victoria in Australia reported 77 cases in 24 hours
- Death toll in Mexico reached 28,510, surpassing Spain
- 54 new cases confirmed in South Korea
How Did The Fund Flows Fare On Wednesday
Key Stocks In Focus
- ABB Power & Product Systems: Hitachi and ABB announce the formation of Hitachi ABB Power Grids Ltd., after completion of all required procedures as planned. Hitachi has 80.1% stake in the new JV. The agreement for the same was signed in December 2018. The alliance with Hitachi will facilitate expansion opportunities into areas such as mobility, smart cities, industry, energy storage and enable access to Japan, the third largest economy in the world.
- Covid-19 Impact On India Cements: Operations resumed in phases from April. Dispatches resumed on a lower scale from April 15. Very difficult to predict economic growth in the immediate two quarters given resumption of lockdown in certain parts of Tamil Nadu. Availed the first moratorium offered by the RBI and has requested lenders to extend the second moratorium.
- Dixon Technologies: Forays into manufacturing set top boxes. Total investment in the same to be Rs 40-50 lakh. The company expects a revenue of Rs 100-150 crore from the same in FY21.
- Eveready Industries: Core categories of batteries and flashlights witnessing healthy demand due to sharp decrease in dumped imports from China and disruptions caused to the unorganised market due to non-availability of supplies. The situation in the battery segment may improve further once full implementation of BIS Standards comes into force. Existing Vice Chairman Aditya Khaitan named as Chairman of the company.
- NMDC: Sets lump iron ore prices at Rs 2,450 per tonne and iron ore fines at Rs 2,160 per tonne from June 30. June sales of iron ore down 7% to 2.48 million tons.
- Coal India: Coal production in June down 12.8% to 39.2 million tonnes and coal offtake down 15% to 41.61 million tonnes.
- Reporting Earnings Today: Maharashtra Scooters
To know more about results reported after market hours, key brokerage updates and more, click here.
Your Trade Setup For The Day
A Check On Indian ADRs
U.S. Markets On Monday
- Positive vaccine developments and better-than-expected manufacturing data tempered concerns over a jump in virus cases.
- S&P 500 ended higher for the third straight day.
- Nasdaq closed at a record high after an early trial of an experimental shot from Pfizer Inc. and BioNtech SE showed it was safe and prompted patients to produce antibodies.
- Fed minutes reveal that participants feel the economy needs support for 'some time'
- Manufacturing gauge jumped to the highest in more than a year
- Monthly jobs report to be released later today
- Bloomberg Dollar spot index fell 0.3%
- Yield on the 10-year treasury stood at 0.68%
- West Texas Intermediate crude rose 0.3%. It is down 0.4% today.
Get your daily fix of the global markets here.
More Gains In Store?
Good Morning!
Indian equity markets entered July on a strong note, ending with gains on the first trading day of the month. The benchmarks closed over 1% higher, led by banking stocks.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.6% to 10,459 as of 7:45 a.m.
Asian markets are trading with gains after positive overnight developments of a potential Covid-19 vaccine.
Markets in Japan pared gains on subdued volumes, while those in Hong Kong edged higher despite tensions over a new national security law.
Futures on the Dow Jones trade with a positive bias after the benchmark ended lower on Wednesday. The Nasdaq composite ended at a record high.
Yield on the 10-year treasuries stood at 0.68%, while West Texas Intermediate crude fell 0.4% to $39.66 per barrel.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
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