Stock Market Today: Dalal Street appeared to be heading for a quiet start on Thursday as the GIFT Nifty on the NSE IX trading lower by 10.5 points, or 0.05 per cent, at 19,753.50. The Nifty closed 232 points higher, forming a tiny green candle on the daily chart that indicated an upside break through of the critical overhead barrier, which is located between 19,550 and 19,600 points. On Thursday, oil prices continued their downward trend from the previous day as concerns over Asia’s weak energy demand were matched by signs of increased US production.
Rupee jumps; Tokyo stocks opened higher
The US dollar dropped from its high levels as US inflation data came in lower than anticipated, and the rupee gained 24 paise to settle at 83.09 against the US dollar on Wednesday. Thursday’s tumultuous trading saw Tokyo equities close marginally higher after posting significant gains as a result of Wall Street advances. While retail stocks were bolstered by an optimistic estimate from Target, U.S. stocks closed marginally higher on Wednesday as new inflation data confirmed investor views that the Federal Reserve is done hiking interest rates.
Stock Market Today: Vedanta sets up new copper unit in Saudi Arabia
The mining conglomerate Vedanta Group said on November 15 that Malco Energy Limited, a subsidiary of the corporation, has established a new unit in Saudi Arabia for the sale of copper for SAR (saudi riyal) 1,00,000. As per the exchange filing released by the business, the newly established unit is called ‘Vedanta Copper International VCI business Limited’. The action is being taken as the conglomerate considers restructuring its operations. The board of the corporation authorised a plan in September to divide the company into six entities that are listed independently.
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