Asian markets traded lower on Monday after lower-than-expected China’s October inflation data.Japan’s Nikkei 225 declined 0.1%, while the Topix was flat. South Korea’s Kospi dropped 0.6%, and the Kosdaq fell 0.6%.The US stock market ended higher on Friday, registering its biggest weekly percentage gain in a year, after Donald Trump’s election victory.Here’s a table showing how US stocks performed on Friday:
Source: EquitymasterAt present, the BSE Sensex is trading 229 points lower and NSE Nifty is trading 71 points lower.SBI, Trent, and Tata Motors are among the top gainers today.ONGC, Hindalco and Asian Paints other hand are among the top losers today.Broader markets are trading lower. The BSE Midcap index in trading 0.5% lower and the BSE Smallcap index is trading 0.7% lower.Sectoral indices are trading mixed today with in oil & gas sector and energy sector witnessing the most selling pressure. Meanwhile stocks in the auto sector and the realty sector witnessing buying.The rupee is trading at Rs 84.39 against the US dollar.In commodity markets, gold prices are trading 0.6% lower at Rs 76,820 per 10 grams today.
ITI Shares in FocusITI’s shares will remain in focus on November 11 after the company emerged as the lowest bidder for three packages of BharatNet Phase3 project for a total Value of Rs 45.6 bn.The company with its consortium partner has emerged as the L1 for Package No. 15 of BharatNet Phase-3 Project comprising Arunachal Pradesh, Nagaland and Manipur states with an order value of Rs 15.4 bn.The company also emerged as L1 (on 7 November 2024) for Package No. 8 in the state of Himachal Pradesh and for Package No. 9 in West Bengal & Andaman and Nicobar Islands with an order value of Rs 30.2 bn.With this, the company has emerged as L1 for three Packages (8,9, &15) taking the total order value to Rs 45.6 bn.The BharatNet Phase-3 Project is divided into 16 Packages spread across all states & union territories.BSNL had invited tenders, for Design, Supply, Construction, Installation, Upgradation, Operation and Maintenance of Middle Mile Network of BharatNet Phase-3 Project on a Design Build Operate and Maintain (DBOM) Model.
DCX Systems Export OrderDCX Systems share price will remain in focus on 11 November after the company received export orders from Lockheed Martin Global Inc, USA for US$ 54,798,120 (Equivalent to about Rs 4.6 bn.The purchase order is for supply of electronic assemblies within 12 months.Last month, the company received orders from overseas customers for USD 1,227,971.00 (Equivalent to about Rs 103.1 m for supply of cable & wire harness assemblies.The meeting of the board of directors of the company is scheduled on November 12, 2024, to consider and approve the un-audited standalone and consolidated financial results of the company for the quarter and half year ended September 2024.
Bitcoin Reaches US$ 80,000
Bitcoin rallied past US$ 80,000 for the first time, boosted by President-elect Donald Trump’s embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers.The cryptocurrency climbed as much as 4.7% to an unprecedented US$ 80,092 on Sunday.Trump vowed on the campaign trail to put the US at the center of the digital-asset industry, including creating a strategic Bitcoin stockpile and appointing regulators enamored with digital assets.He emerged from Tuesday’s election in a stronger position than expected – his Republican Party has control of the Senate and is on the verge of holding a narrow majority in the House.Bitcoin has added about 91% so far in 2024, helped by robust demand for dedicated US exchange-traded funds and interest-rate cuts by the Federal Reserve.The rise in the largest digital token, which scaled fresh records after the US vote, exceeds the returns from investments such as stocks and gold.The ETFs, powered by BlackRock Inc.’s US$ 35 billion iShares Bitcoin Trust, posted a record daily net inflow of almost US$ 1.4 billion on Thursday.A day earlier, the iShares ETF’s trading volume jumped to an all-time peak all signs of how Trump’s victory is reshaping crypto.The agency turned the screws on crypto following a 2022 market rout and a litany of collapses, notably the bankruptcy of Sam Bankman-Fried’s fraudulent FTX exchange.Digital-asset companies and executives spent heavily during the US election campaign to promote candidates viewed as favorable toward their interests.More By This Author:
