Asian shares advanced Thursday after a plunge in oil prices aided a recovery on Wall Street.

The Nikkei jumped 1.5% while the Hang Seng index gained 0.7%.

US stocks broke a three-day losing streak Wednesday as Treasury yields pulled back from multiyear highs following the release of much weaker-than-expected jobs data.

Here's a table showing how US stocks performed on Wednesday:

Source: Equitymaster

Back home, Indian share markets are trading on a positive note following the trend on SGX Nifty.

At present, the BSE Sensex is trading lower by 360 points. Meanwhile, the NSE Nifty is trading higher by 102 points.

BPCL and TCS are among the top gainers today.

Sun Pharma and Nestle on the other hand are among the top losers today.

Broader markets are trading higher. The BSE Mid Cap index is trading 0.7% higher and the BSE Small Cap index is trading higher by 0.9%.

Sectoral indices are trading on a positive note with stocks in the realty sector, capital goods sector, and IT sector witnessing buying speed.

Shares of Suzlon Energy and PCBL hit their 52-week high today.

The rupee is trading at Rs 83.21 against the US dollar.

In commodity markets, gold prices are trading 0.3% at Rs 56,893 per 10 grams today.

Meanwhile, silver prices are trading 0.9% higher at Rs 67,477 per 1 kg.
 

Marico Q2 Update

Marico reported a slight decline in consolidated revenue for the July-September quarter compared to the previous year, attributing it to price corrections in its core domestic range over the past year, according to its pre-quarterly update.

The company stated that the effects of these corrections will be gradually incorporated into future calculations.

Additionally, currency depreciation in certain overseas markets negatively impacted the reported Rs growth of the international business.

The firm, known for products like Parachute coconut oil, experienced low single-digit year-on-year growth in domestic volumes. Specifically, there was modest volume growth in Parachute Coconut Oil and Saffola Edible Oils, complemented by a similar value growth in Value Added Hair Oils during this period.

Marico highlighted continued strong trends in market share, off-takes, and penetration across principal franchises. Furthermore, emerging portfolios like Foods and Premium Personal Care are on track to meet annual targets.

The demand trends during this quarter mirrored those of the previous one.

Factors such as increasing food prices and inconsistent rainfall patterns in certain regions appear to have postponed expected rural demand rejuvenation.

Marico is seeing its net profit margins improve as inflation eases. 
 

HAL Hands Over the First Aircraft

The Hindustan Aeronautics Limited (HAL) handed over the first LCA Tejas twin-seater to the Indian Air Force in the presence of Union Minister of State for Defence & Tourism Ajay Bhatt at a ceremony in Bengaluru on Wednesday, 4 October.

The LCA Tejas Twin Seater is a lightweight, all-weather multirole 4.5 generation aircraft. It is designed to support the training requirements of the IAF and augment itself to the role of a fighter in case of necessity.

This historic event marks the achievement of a key milestone in producing the LCA Twin Seater, which is designed with the strategic intent of graduating budding pilots from the Twin Seater variants to fighter Pilots.

HAL has an order of 18 twin seater from IAF and is planning to deliver eight twin seater in FY 2023-24. Further, 10 twin seaters would be delivered progressively by 2026-27. Further orders are also expected from IAF.

LCA-Tejas is the largest RD program ever undertaken in India It made its maiden flight in 2001 and has achieved various milestones since then.

From June 2022 to June 2023, shares of HAL have delivered a multibagger return of 105%.

HAL has paid two interim dividends of Rs 20 each for the financial year 2023, making it among the top defense stocks that pay good dividends.

HAL is the perfect combination of dividend and growth. 

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