Asian markets traded higher on Wednesday, following overnight gains on Wall Street, as investors await the US Federal Reserve's interest rate decision.
Japan's Nikkei 225 gained 1.38%, and the Topix rose 0.95%. South Korea's Kospi rallied 2.8% while the Kosdaq jumped 1.66%. The US stock market ended sharply higher on Monday, fuelled by gains in AI-related stocks.
US stock market ended higher on Tuesday as the Federal Reserve began its two-day policy meeting amid investors' worries about high oil prices and the US-Iran war.
Here's a table showing how US stocks performed on Tuesday:
Stock/Index | LTP | Change ($) | Change (%) | Day High | Day Low | 52-Week High | 52-Week Low |
|---|---|---|---|---|---|---|---|
Alphabet | 309.41 | 4.99 | 1.64% | 310.05 | 304.35 | 350.15 | 142.66 |
Apple | 254.23 | 1.41 | 0.56% | 255.13 | 252.18 | 288.61 | 169.21 |
Meta | 622.66 | -4.79 | -0.76% | 636.55 | 621.7 | 796.25 | 479.8 |
Tesla | 399.27 | 3.71 | 0.94% | 400.12 | 393 | 498.82 | 214.25 |
Netflix | 94.36 | -0.84 | -0.88% | 96.34 | 94.01 | 134.12 | 75.01 |
Amazon | 215.2 | 3.46 | 1.63% | 215.7 | 212.43 | 258.6 | 161.43 |
Microsoft | 399.41 | -0.54 | -0.14% | 404.4 | 397.75 | 555.45 | 344.79 |
Dow Jones | 46993.26 | 46.85 | 0.10% | 47428.12 | 46975.52 | 50512.79 | 36611.78 |
Nasdaq | 24780.42 | 125.08 | 0.51% | 24884.68 | 24721.56 | 26182.1 | 16542.2 |
Source: Equitymaster
At present, the BSE Sensex is trading 298 points higher and NSE Nifty is trading 95 points higher.
Infosys, TCS, and Wipro are among the top gainers today.
Coal India, HDFC Bank, and Hindalco, on the other hand, are among the top losers today.
The BSE 150 Midcap index is trading 1.2% higher, and the BSE 250 Smallcap index is trading 1.6% higher
Barring the meta index, all other sectoral Indices are trading in green today, with stocks in the auto sector and telecom sector witnessing buying spree.
The rupee is trading at Rs 92.43 against the US dollar.
Tech Mahindra to Buy Remaining Stake in Midad
Tech Mahindra Limited announced that its wholly owned subsidiary, Tech Mahindra London Limited, has entered into a share sale and purchase agreement with Midad Company Ltd to acquire the remaining 20% stake in Tech Mahindra Arabia Limited.
The transaction follows the exercise of a put option by Midad under the existing shareholders' agreement. Upon completion, Tech Mahindra, along with its subsidiary, will hold 100% ownership in Tech Mahindra Arabia.
The acquisition is valued at SAR 83.7 million (approximately Rs 206.2 crore) and will be completed through a cash transaction. It involves the purchase of 200 equity shares of SAR 1,000 each, representing the remaining 20% stake in the Saudi-based entity.
The deal is expected to be completed by July 15, 2026, subject to regulatory approval from the General Authority for Competition in Saudi Arabia.
Aurobindo Pharma Receives USFDA Action
Aurobindo Pharma Limited will remain in focus after the US Food and Drug Administration (USFDA) classified its Eugia Pharma Unit II as "Official Action Indicated" (OAI).
The inspection, conducted between November 3 and November 14, resulted in nine observations. Despite this, the company stated that it does not expect any material impact on its business.
This development comes amid ongoing regulatory scrutiny across its facilities. The USFDA had also inspected Unit III, a formulation manufacturing facility, between January 27 and February 6, 2026, where 11 observations were issued.
Notably, the same Unit II had earlier been classified under OAI status in May 2024 and subsequently received a warning letter in August 2024.
Varun Beverages to Acquire Crickle Dairy
Varun Beverages Limited announced that its South African subsidiary, The Beverage Company Proprietary Ltd, has entered into an agreement to acquire 100% stake in Crickley Dairy Proprietary Ltd for Rs 131.47 crore.
The acquisition will be carried out by Clark Holdings Proprietary Ltd, the parent entity of Crickley Dairy.
This move aligns with Varun Beverages' strategy to diversify its product portfolio by expanding into new segments such as value-added dairy and juice-based beverages.
The transaction is subject to necessary regulatory approvals, including clearance from the Competition Commission of South Africa.
PFC Approves Fourth Interim Dividend
Power Finance Corporation Limited announced that its board has approved a fourth interim dividend of Rs 3.25 per equity share (face value Rs 10) for FY26.
The company has fixed 23 March 2026 as the record date to determine shareholder eligibility, with the dividend payment scheduled on or before 16 April 2026.
In addition, the board has approved a borrowing plan of up to Rs 1,600 bn for FY27.
The company may raise these funds through various sources in one or more tranches, subject to shareholder-approved limits, excluding funds raised under extra budgetary resources (EBR).
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