Sensex Closes Off Record High As HDFC Bank, RIL Weigh; Nifty Ends Below 11,900
Catch all the live updates on share prices, index moves, corporate announcements and more from Sensex and Nifty today.
KEY HIGHLIGHTS
Sensex Closes Off Record High As HDFC Bank, RIL Weigh; Nifty Ends Below 11,900
Indian equity benchmarks extended gains for the fifth consecutive trading session, but clocks second-least gains during the period on F&O expiry day.
The S&P BSE Sensex rose 0.19 percent to close at 40,129.05 after hitting an all-time high at 40,392.22 intraday. The NSE Nifty 50 rose 0.28 percent to end at 11,877. The broader markets represented by the NSE Nifty 500 Index rose 0.44 percent. In October series, the Nifty gained 2.65 percent and Nifty Bank rose 0.21 percent.
The markets going to witness a lot of panic buying from the foreign institutional investors, Basant Maheshwari said as the 31-share index hit an all-time high.
"The bottomline is the move looks like a broad-based one. There is going to be a lot of panic buying from FIIs who are net short," the co-founder told BloombergQuint in an interaction.
Besides, the government policies have become more favourable to the stock markets, Maheshwari said.
The government’s mood has changed. From last year’s LTCG tax, suddenly the government looks like picking the stock market up because it wants to sell its family silver. And, why should it be sold at the price of bronze instead at a price of gold? And, what is the better way to do it than rallying Nifty up to 12,500 or 13,000?
The market veteran, however, cautioned that one can’t expect 5,000 companies to be doing well in a 5 percent-GDP growth situation.
5 percent GDP growth is like small children competing with a big bully and saying I need my share of pizza. The big bully (large caps) is going to keep everything for himself and the small children won’t get anything.Basant Maheshwari, Co-Founder At Basant Maheshwari Wealth Advisers
The market breadth was tilted in favour of buyers. About 1,119 stocks advanced and 669 shares declined on National Stock Exchange.
Eight out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty PSU Bank Index’s 3.79 percent gain. On the flipside, the NSE Nifty Metal Index was the top sectoral loser, down 0.52 percent.
Indian Oil Swings After Q2 Results
Shares of Indian Oil Corporation fluctuated between gains and losses to trade little changed at Rs 147.05.
Key Earnings Highlights (Q2, QoQ)
- Net profit down 84.3 percent to Rs 563 crore.
- Revenue down 15.07 percent to Rs 1,11,690 crore.
- Ebitda down 57 percent to Rs 3,572.
- Margin at 3.2 percent versus 6.35 percent.
Fab Four Stocks Of The Day
Quess Corp
- Stock rose as much as 16.9 percent to Rs 554.
- Stock rose as much as 9.5 percent to Rs 519.
- Revenue rose 26.7 percent to Rs 2,650.3 crore.
- Net profit fell 2 percent to Rs 60.6 crore.
- Ebitda rose 44.1 percent to Rs 161.4 crore.
- High finance and depreciation costs impacted profits.
Tata Global Beverages
- Stock rose as much as 5.1 percent to Rs 306.50.
- Revenue rose 4.2 percent to Rs 1834.1 crore.
- Net profit fell 18.9 percent to Rs 137.7 crore.
- Ebitda rose 41 percent to Rs 234.7 crore.
- Margin stood at 12.8 percent versus 9.5 percent.
- Merger of consumer products business of Tata Chemicals with self on schedule and expected to achieve full closure by end of 2019-20.
Gujarat Pipavav Port
- Stock rose as much as 7.1 percent to Rs 87.80.
- About 10.5 lakh shares of Gujarat Pipavav changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
HCC
- Stock rose as much as 19.6 percent to Rs 10.05.
- “The lenders to Lavasa Corp. will consider three offers made for the real estate company today,” Business Standard reported quoting a bank official it didn’t identify. “A group led by Haldiram snacks has offered to take over Lavasa for Rs 2,046 crore,” the report added.
Market Check: Sensex Set Close Off Record Highs
Indian equity benchmarks traded off day’s high.
The S&P BSE Sensex rose 0.18 percent to 40,125 and the NSE Nifty 50 rose 0.23 percent to 11,871. The broader markets represented by the NSE Nifty 500 Index rose 0.28 percent.
Dhanlaxmi Bank MD, CEO T Latha Resigns
Dhanlaxmi Bank Ltd. Managing Director and CEO T Latha resigned due to due to personal reasons, according to the lender’s stock exchange filing.
Besides, BloombergQuint spoke to Latha earlier. Here are the key highlights from the conversation:
- Loan growth driven by gold loans, MFI loans.
- Have increased the PCR to 90 percent.
- Gross NPAs should come down to less than 6.5 percent.
Large Trade Alert: Tata Motors
About 12.5 lakh shares of Tata Motors changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Stocks Moving On Heavy Volumes
United Bank of India
- Stock rose as much as 16.9 percent to Rs 10.40.
- Trading volume was almost 18 times its 20-day average.
Quess Corp
- Stock rose as much as 16.9 percent to Rs 554.
- Trading volume was almost 19 times its 20-day average.
HUDCO
- Stock rose as much as 14.4 percent to Rs 43.60
- Trading volume was more than 13 times its 20-day average.
Tata Global Beverages
- Stock rose as much as 8.7 percent to Rs 317.
- Trading volume was almost 11 times its 20-day average.
Global Markets Update: Europe Stocks, U.S. Futures Gain
European stocks and U.S. futures edged higher on Thursday as investors weighed the Federal Reserve’s latest rate cut and a flurry of major corporate earnings.
- Futures on the S&P 500 Index climbed 0.1 percent.
- The Stoxx Europe 600 Index increased 0.1 percent.
- The Shanghai Composite Index declined 0.3 percent.
- The MSCI Emerging Market Index rose 0.4 percent.
Get your daily fix of global markets here.
Source: Bloomberg
Market Commentary: ‘India Is Not An Overheated Market Yet’, Chakri Lokpriya Says
Favourable macro conditions such as low inflation and earnings recovery in the offing could drive the benchmarks further, according to Chakri Lokpriya, managing director at TCG Asset Management.
The bigger picture is from Lehman moment to present, Sensex is just up 14 percent and the mid-cap index is up 15 percent. That compares with the U.S.’ S&P 500 moving 12 percent and Nasdaq’s 16 percent rally. This tells you India as an emerging market has delivered more or less the same returns as the world’s largest economy. It tells you India is not an overheated market and therefore we are moving higher over the next several months.Chakri Lokpriya, Managing Director, TCG Asset Management.
The rally, he said, will be led by cyclical sectors such as banking, infrastructure and consumer discretionary.
Here’s what other market veterans had to say after Sensex hits record high.
Market Check: Sensex Holds Onto Record Gains
Indian equity benchmarks managed to hold onto gains.
The S&P BSE Sensex rose 0.6 percent to 40,296 as of 2 p.m. and the NSE Nifty 50 rose 0.66 percent to 11,923.65. The broader markets represented by the NSE Nifty 500 Index rose 0.73 percent.
Lakshmi Machine Works Falls The Most In Over Eight Years
Shares of Lakshmi Machine Works fell as much as 10.9 percent, the most since January 2011, to Rs 3,485.
Trading volume was almost 11 times its 20-day average, according to Bloomberg data. Of the shares traded, 38 percent were at the ask price and 49 percent were at the bid.
The stock declined 39 percent in the past 12 months compared to a 17 percent advance in the Sensex.
Yes Bank Jumps 25% After Binding Offer From A Global Investor
Shares of the private lender rose as much as 38.6 percent, the most in over 14 years, to Rs 78.90.
The bank received a binding offer from a global investor for an investment of $1.2 billion through fresh issuance of equity shares, according to its exchange filing.
The bank also continues to be in advanced discussions with other global and domestic investors, the filing said.
Market Check: Sensex, Nifty Trade Higher
Indian equity benchmarks traded higher, led by the gains in Infosys Ltd. and State Bank of India.
The S&P BSE Sensex rose 0.54 percent to 40,269 as of 1 p.m. and the NSE Nifty 50 rose 0.69 percent to 11,916. The broader markets represented by the NSE Nifty 500 rose 0.63 percent.
Watch | Festival Sales Were Better Than Expected: Dalton Capital's UR Bhat
Market Commentary: Expect Foreign Investors To Drive The Next Leg Of Rally, Basant Maheshwari Says
The markets going to witness a lot of panic buying from the foreign institutional investors, Basant Maheshwari said as Sensex hit an all-time high.
"The bottomline is the move looks like a broad-based one. There is going to be a lot of panic buying from FIIs who are net short," the co-founder told BloombergQuint in an interaction.
Besides, the government policies have become more favourable to the stock markets, Maheshwari said.
The government’s mood has changed. From last year’s LTCG tax, suddenly the government looks like picking the stock market up because it wants to sell its family silver. And, why should it be sold at the price of bronze instead at a price of gold? And, what is the better way to do it than rallying Nifty up to 12,500 or 13,000?
The market veteran, however, cautioned that one can’t expect 5,000 companies to be doing well in a 5 percent-GDP growth situation.
5% GDP growth is like small children competing with a big bully and saying I need my share of pizza. The big bully (large caps) is going to keep everything for himself and the small children won’t get anything.Basant Maheshwari, Co-Founder At Basant Maheshwari Wealth Advisers
Watch the full interaction here:
Sensex's Journey To Record High: Top Contributors
The 31-share index surpassed its previous record high of record high of 40,312.07 clocked on June 4, 2019.
Here are the top contributors:
Central Bank Of India Extends Rally, Shares Jump 18%
Shares of Central Bank of India extended gains for the fifth consecutive trading session. The stock rose as much as 18.2 percent to Rs 24.65.
The capital raising committee approved issuing preferential capital of 158 crore shares worth Rs 3,353 crore to the Government of India, the lender said in a statement on the exchanges on Oct. 30. “The plan is subjected the approval from shareholders and other statutory authorities,” it added.
The stock advanced 44 percent in five trading sessions.
ICICI Lombard Gains On Acquisition Plan
Shares of ICICI Lombard General Insurance rose as much as 0.9 percent to Rs 1,379.
The company plans to acquire proprietary software from Unbox Technologies , along with ancillary movable assets for housing the software and employees for operation, maintenance and development of the software, for an aggregate cash consideration of Rs 225 crore. Transaction is expected to be completed in the third quarter of the current financial year.
Besides, the company also entered in to a Bancassurance tie-up with Karur Vyasa Bank.
Market Check: Sensex Hits Record High
Indian equity benchmarks extended gains for the fifth consecutive trading session.
The Sensex rose as much as 0.698 percent to hit an all-time high at 40,328. The NSE Nifty 50 rose 0.64 percent to 11,919. The broader markets represented by the NSE Nifty 500 Index rose 0.7 percent.
F&O Check: Nifty 11,900 Call Option Contract Surges 100%
Nifty’s 11,900 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on Thursday, rose 100.34 percent to Rs 29.65. Over 10.06 lakh shares were removed from the open interest which stood at over 28.76 lakh shares.
Large Trade Alert: Gujarat Pipavav
About 10.5 lakh shares of Gujarat Pipavav changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Market Check: Sensex Trades Near Record Highs; Nifty Above 11,900
Indian equity benchmarks extended gains for the fifth consecutive trading session.
The S&P BSE Sensex rose 0.56 percent to 40,271 to trade near record high of 40,312.07 and the NSE Nifty 50 rose 0.56 percent to 11,910. The broader markets represented by the NSE Nifty 500 Index rose 0.62 percent.
Stocks Reacting To Results Announcement
Container Corporation of India (Q2, YoY)
- Stock rose as much as 2.7 percent to Rs 608.60.
- Revenue fell 4.6 percent to Rs 1,738.7 crore.
- Net loss stood at Rs 322 crore versus net profit of Rs 336.1 crore.
- Ebitda fell 15.6 percent to Rs 425.5 crore.
- Margin stood at 24.5 percent versus 27.7 percent.
- Other operating expenses rose 9 percent to Rs 225.1 crore.
CreditAccess Grameen (Q2, YoY)
- Stock rose as much as 4.8 percent to Rs 674.80.
- Net interest income rose 23.3 percent to Rs 259.4 crore.
- Net profit rose 37.3 percent to Rs 100.9 crore.
- GNPA at 0.52 percent versus 0.55 percent quarter-on-quarter.
- NIM at 12.1 percent versus 12.6 percent QoQ.
- Gross loan portfolio rose 36.4 percent at Rs 7,905 crore.
Tata Global Beverages (Q2, YoY)
- Stock rose as much as 5.1 percent to Rs 306.50.
- Revenue rose 4.2 percent to Rs 1834.1 crore.
- Net profit fell 18.9 percent to Rs 137.7 crore.
- Ebitda rose 41 percent to Rs 234.7 crore.
- Margin stood at 12.8 percent versus 9.5 percent.
JK Tyre & Industries (Q2, YoY)
- Stock rose as much as 14.4 percent to Rs 80.35.
- Revenue fell 13.6 percent to Rs 2,155 crore.
- Net profit rose 3.3 times to Rs 170.1 crore.
- Ebitda rose 12.8 percent to Rs 296.4 crore.
- Margin stood at 13.8 percent versus 10.5 percent.
Quess Corp (Q2, YoY)
- Stock rose as much as 9.5 percent to Rs 519.
- Revenue rose 26.7 percent to Rs 2,650.3 crore.
- Net profit fell 2 percent to Rs 60.6 crore.
- Ebitda rose 44.1 percent to Rs 161.4 crore.
- Margin stood at 6.1 percent versus 5.4 percent.
HCC Jumps 19% On Report Of Bids For Lavasa
Shares of Hindustan Construction Company rose as much as 19.6 percent, the most in over a year, to Rs 10.05.
“The lenders to Lavasa Corp. will consider three offers made for the real estate company today,” Business Standard reported quoting a bank official it didn’t identify. “A group led by Haldiram snacks has offered to take over Lavasa for Rs 2,046 crore,” the report added.
Trading volume was almost 40 times its 20-day average, according to Bloomberg data. The scrip declined 23 percent in the past five days and advanced 12 percent in the past 30 days.
International Paper APPM Jumps Falls 14% On Stale Sale Plan
Shares of International Paper APPM fell as much as 13.6 percent to Rs 301.35.
The company completed the sale of its controlling interest (21.87 million shares) in India-based International Paper APPM to West Coast Paper Mills for about $85 million and intends to pursue suitable alternatives to divest its remaining 20 percent stake in APPM, according to Bloomberg report.
Trading volume was almost 110 times its 20-day average, according to Bloomberg data. Of the shares traded, 56 percent were at the ask price and 34 percent were at the bid.
Lakshmi Vilas Bank Swings After Large Trade
Shares of Lakshmi Vilas Bank fluctuated between gains and losses to trade 0.34 percent higher at Rs 14.75.
About 28 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
The Relative Strength Index was below 30, indicating that the stock may be oversold, according to Bloomberg data.
Opening Bell: Sensex, Nifty Open Higher
Indian equity benchmarks opened higher, extended gains for the fifth consecutive trading session.
The S&P BSE Sensex rose 0.37 percent to 40,213, trading near record high of 40,312.07 and the NSE Nifty 50 rose 0.43 percent to 11,894. The broader markets represented by the NSE Nifty 500 Index rose 0.44 percent.
The market breadth was tilted in favour of buyers. About 930 stocks advanced and 392 shares declined on National Stock Exchange.
All the 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty PSU Bank Index’s 1.5 percent gain.
Your Complete F&O Trade Setup
Futures
- Nifty Oct futures closed at 11840.2, discount of 3.8 points versus premium of 8.6 points.
- Nifty futures across series OI down 3.3 percent, sheds 5.5 lakh shares in OI.
- Nifty Bank Oct futures closed at 29,986.4, discount of 1 point versus premium of 27 points.
- Nifty Bank futures across series OI up 3.7 percent, adds 49,900 shares in OI.
- Rollover: Nifty 53 percent, Nifty Bank 45 percent
Options
- Nifty PCR unchanged at 1.48 (across all series)
Nifty Monthly Expiry: Oct 31
- Max OI on call side at 12,000 (32.7 lakh shares)
- Max OI on put side at 11,800 (29 lakh shares)
- OI addition seen at 11,800P (+14 lakh shares), 11,850P (+8 lakh shares), 11.850C (7.3 lakh shares)
BQ Heads-Up: How ADRs Fared Overnight
BQ Heads-Up: Who's Meeting Whom
- Shriram City Union Finance to meet Haitong Securities on Nov. 1.
- Tata Elxsi to meet First Pacific Advisors on Nov. 11.
- Hindalco to meet Capital Research Global Investors and Amundi AMC on Nov. 1.
BQ Heads-Up: Trading Tweaks
- Paramount Communications, Astron Paper & Board Mill, Sintex Plastics Technology to move into short term ASM Framework.
- Hotel Leela Venture to move out of short term ASM Framework.
- Vishwaraj Sugar Industries, Gujarat Fluorochemicals price band revised to 20 percent.
- Astron Paper & Board Mill price band revised to 10 percent.
- ITD Cementation, New India Assurance, Kirloskar Electric, Mangalam Drugs & Organics price band revised to 5 percent.
Money Market Update: Rupee Opens Higher
The Indian rupee opened higher against the U.S. dollar. The home currency appreciated as much as 0.2 percent to 70.75 against the greenback.
Pre-Market Check: Sensex, Nifty Set To Open Higher
Indian equity benchmarks are set to open higher in today’s trade.
The S&P BSE Sensex rose 0.36 percent to 40,194 during the pre-market trade and the NSE Nifty 50 rose 0.48 percent to 11,900.
Stocks To Watch: Bharti Airtel, HDFC, RIL
- Reliance Industries: Reliance Jio has objected to telcos seeking relief from DoT after the AGR judgement.
- Fitch Ratings has placed Bharti Airtel’s ‘BBB-’ Long Term Foreign Currency Issuer Default Rating on rating watch negative due to the Supreme Court ruling of Oct. 24.
- International Paper completed the sale of its controlling interest (21.87 million shares) in India-based International Paper APPM to West Coast Paper Mills for about $85 million and intends to pursue suitable alternatives to divest its remaining 20 percent stake in APPM. (BN)
- HDFC said that it has been allotted 15.93 crore shares or 9.9 percent stake in Bandhan Bank post the merger of Gruh Finance and Bandhan Bank.
- CreditAccess Grameen: MN Gopinath resigned from the post of Chairman and Independent Director citing his disengagement from all corporate activities upon crossing the age of 70 years. Paolo Brichetti has been appointed at Non-Executive Chairman. Besides, the board authorised to raise up to Rs 1,000 crore via NCDs.
- Intellect Design Arena has signed a multi-million deal with U.K.’s Commonwealth Trade Bank for digital solutions.
- UFO Moviez: The National Company Law Appellate Tribunal has allowed company’s appeal and set aside National Company Law Tribunal order against the amalgamation between the company and PJSA, Qube Cinema Technologies, Qube Digital Cinema and Moviebuff.
- Quess Corp to subscribe debentures in its arm Trimax Smart Infra for an amount not exceeding Rs 129 crore and Board approved investment of Rs 12 crore in its arm Qdigi Services and to acquire 18.7 percent stake in its subsidiary Vedang Cellular Services for Rs 10 crore. Besides, Krishna Suraj Moraje has been appointed as executive director and Group Chief Executive Officer designate with effect from Nov. 4. Also, the company has expected that it will receive Rs 81 crore from Trimax Resolution in Fiscal year 2020 and the demerger of Thomas Cook is expected to be completed by December.
- ICICI Lombard General Insurance to acquire proprietary software from Unbox Technologies , along with ancillary movable assets for housing the software and employees for operation, maintenance and development of the software, for an aggregate cash consideration of Rs 225 crore. Transaction is expected to be completed in the Q3 FY20. Company has also entered in to a Bancassurance tie-up with Karur Vyasa Bank.
- Jindal Worldwide said that a fire accident occurred in its factory premises in Ahmedabad and the company had a major loss of its stock. Loss of the stock is adequately insurance and the total insurance cover of the stock of the company amounts to Rs 188 crore. Reason of the fire accident and the actual loss is under investigation.
- TVS Motor to partner with South America’s Cadisa Group which will facilitate the opening of 15 flagship outlets of the company in Guatemala and El Salvador.
- Balaji Amines has started manufacturing of fungible products and commenced commercial production at company’s subsidiary plant and is expected environmental clearance for 90-acre Greenfield project in the month of November.
- Vodafone Idea’s long-term bank facilities and debenture have been cut to A- from A by Care Ratings on account of Supreme Court Ruling. Outlook has also been revised from Negative to Credit Watch with Negative Implications.
- Aviation Stocks: IndiGo has planned 572 international flight per week, while SpiceJet has planned 229 international flights for the winter schedule, respectively. (Directorate General of Civil Aviation Release-BN)
- Future Retail said that promoters have 47 percent stake in the company, out of which 73.95 percent of the promoter shareholding is encumbered.
- Sonata Software: P Srikar Reddy has been re-appointed as Managing Director and CEO for three years till February 2023.
Q2 Earnings Corner: Blue Dart, Container Corp, IOC, Tata Global Beverages.
Nifty Earnings To Watch
- Indian Oil Corporation
Other Earnings To Watch
- Manappuram Finance
- Spandana Sphoorty Financial
- BF Utilities
- Blue Dart Express
- Dhanlaxmi Bank
- Foseco India
- Garden Reach Shipbuilders & Engineers
- IFB Agro Industries
- JBM Auto
- Jindal Saw
- Laurus Labs
- LG Balakrishnan & Bros
- Ramco Industries
- Srikalahasthi Pipes
- Syndicate Bank
- Thirumalai Chemicals
- Tube Investments of India
- Vaibhav Global
Earning Reactions To Watch
Container Corporation of India (Q2, YoY)
- Revenue fell 4.6 percent to Rs 1,738.7 crore.
- Net loss stood at Rs 322 crore versus net profit of Rs 336.1 crore.
- Ebitda fell 15.6 percent to Rs 425.5 crore.
- Margin stood at 24.5 percent versus 27.7 percent.
- Other operating expenses rose 9 percent to Rs 225.1 crore.
CreditAccess Grameen (Q2, YoY)
- Net interest income rose 23.3 percent to Rs 259.4 crore.
- Net profit rose 37.3 percent to Rs 100.9 crore.
- GNPA at 0.52 percent versus 0.55 percent quarter-on-quarter.
- NIM at 12.1 percent versus 12.6 percent QoQ.
- Gross loan portfolio rose 36.4 percent at Rs 7,905 crore.
Tata Global Beverages (Q2, YoY)
- Revenue rose 4.2 percent to Rs 1834.1 crore.
- Net profit fell 18.9 percent to Rs 137.7 crore.
- Ebitda rose 41 percent to Rs 234.7 crore.
- Margin stood at 12.8 percent versus 9.5 percent.
JK Tyre & Industries (Q2, YoY)
- Revenue fell 13.6 percent to Rs 2,155 crore.
- Net profit rose 3.3 times to Rs 170.1 crore.
- Ebitda rose 12.8 percent to Rs 296.4 crore.
- Margin stood at 13.8 percent versus 10.5 percent.
Quess Corp (Q2, YoY)
- Revenue rose 26.7 percent to Rs 2,650.3 crore.
- Net profit fell 2 percent to Rs 60.6 crore.
- Ebitda rose 44.1 percent to Rs 161.4 crore.
- Margin stood at 6.1 percent versus 5.4 percent.
BQ Heads-Up: Economic Data To Watch
- India fiscal deficit data for April-September
- 5 p.m.: India eight infrastructure industries index for September, prior -0.5 percent.
Global Cues: S&P 500 Ends At Record High
- The S&P 500 turned higher to end at record high when Chairman Jerome Powell said rate hikes won’t occur as long as inflation remains persistently cool.
- Oil fell for a third day as a U.S. government report showed a bigger-than-expected build in domestic crude supplies and Chile canceled a summit where the U.S. and China were expected to sign a preliminary trade accord.
Get your daily fix of global markets update here
SGX Nifty Suggests Positive Start; Asian Stocks Trade Mixed
Good Morning!
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.3 percent to 11,882 as of 8:20 a.m.
Stocks in Asia were mixed after the Federal Reserve indicated that it’s unlikely to move in either direction on policy any time soon following its latest interest rate cut, while corporate results continued to roll in.
Shares were flat in Tokyo, while equities in Sydney fell. Seoul saw gains after earnings at Samsung Electronics Co. topped estimates.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.