Fri, Nov 1, 2024 3:03 PM
Nifty logs worst month since Covid; major shocks unlikely
A Flip by Shubhangi Gupta
Waaree Energies share price dropped over 10 percent in the last two trading sessions amid fears of a decline in renewable energy exports to the United States during the presidency of Donald Trump. The impact could be severe on companies that are heavily reliant on the US for the exports. Waaree Energies stock declined nearly 5 percent on November 8 to quote at Rs 3,186 per share on the NSE.
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Wipro shares surged 3% to Rs 578.8 on reports of two block deals, with promoters likely selling 8.5 crore equity shares. The IT major reported a 21% jump in net profit to Rs 3,209 crore in Q2 FY25, accompanied by a bonus share issue and strong deal bookings. Wipro's IT services operating margin stood at 16.8%.
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The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that angered Americans and helped drive Donald Trump's presidential election victory this week. The rate cut follows a larger half-point reduction in September, and it reflects the Fed's renewed focus on supporting the job market as well as fighting inflation.
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