Stock Market Today: GIFT Nifty indicates a bullish start; Siemens Ltd registers impressive fourth quarter revenue

Stock Market Today: GIFT Nifty on the NSE IX up by 23 points, or 0.11 percent, to 20,150.50, indicating that Dalal Street was off to a good start on Wednesday. The rupee recovered from record lows on Tuesday, gaining 6 paise to close at 83.34 against the US dollar on the back of improved equity market optimism and foreign fund inflows. On Wednesday, the dollar fell across the board to a more than three-month low against its main counterparts, while the New Zealand dollar gained as its central bank signalled that more rate hikes were possible.

Rupee rises; Tokyo stocks opened lower

The rupee recovered from record lows on Tuesday, gaining 6 paise to close at 83.34 against the US dollar on the back of improved equity market optimism and foreign fund inflows. Tokyo markets began down on Wednesday, pulled down by a stronger yen against the dollar.In early trade, the Nikkei 225 index was down 0.33 percent, or 109.57 points, at 33,298.82, while the wider Topix index was down 0.21 percent, or 4.90 points, at 2,371.81.

Stock Market Today: Siemens Ltd reported a 36% increase

Siemens Ltd reported a 36% increase in net profit to Rs 534 crore in the September quarter compared to the same period last year on the basis of higher revenues on November 28. According to a business statement, the company, which follows the October to September fiscal year, earned a net profit of Rs 392 crore a year earlier. Siemens Ltd reported sales of Rs 5,297 crore in the fourth quarter of fiscal year 2023 ended September 30, a 25% increase over Rs 4,236 crore the previous year. For the fiscal year ending September 30, 2023, the board also recommended a dividend of Rs 10 per equity share of Rs two apiece.

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