PremiumShare Market Updates: Indian stock indices ended convincingly in the green and climbed around 0.35% as PSU Bank and Energy led the rally with most indices ending in the green.
Retail inflation declined to 6.83% in August after touching a 15-month high of 7.44 per cent in July, mainly due to softening prices of vegetables, but still remains above the RBI's comfort zone.
Global equities mostly fell Wednesday ahead of a crunch US inflation report, with investors increasingly nervous that a recent spike in oil will put fresh upward pressure on consumer prices and force the Federal Reserve to lift interest rates again.
Indian shares edged up in mid-day trade and ended higher on Wednesday after a lackluster start, led by gains in financials and energy stocks as investors bet on large-cap companies amid heightened volatility in small- and mid-caps after a record run.
Data released after the bell on Tuesday showed that India's retail inflation eased in August, while industrial output rose at its fastest pace in five months in July.
The Nifty 50 index climbed 75 pts to close at 200,70, while the S&P BSE Sensex rose 250 pts to close at 67,466. Thirteen of the 15 Nifty sectoral indices ended in the green in today's session.
Grasim and Coal India jumped more than 3% each, followed by Tata Consumer Products, Bharti Airtel and Titan. HDFC Life, M&M, Adani Ports, L&T and Cipla dropped more than a per cent each and were the biggest laggards.
Most sectoral indices ended in the green with PSU Bank gaining more than 3%. Energy and Media indices also gained around a per cent with other Bank and Finance indices ending with reasonable gains. Auto and IT indices shed and ended in the red.
Stocks retreated Wednesday in Europe and Asia and oil prices rose ahead of a key report on U.S. inflation that could sway the Federal Reserve's future decisions on interest rates.
Japan's Nikkei share average ended lower in range-bound trade ahead of a key U.S. inflation report, but losses were limited as investors bought value shares that can withstand higher rates. The Nikkei fell 0.21% and the broader Topix declined 0.5%.
China stocks closed down on Wednesday tracking weaker Asian markets, as investors braced for key U.S. inflation data and more clues about Beijing's stimulus measures to help the world's second-largest economy.
China's blue-chip CSI 300 Index was down 0.6% at close, while the Shanghai Composite Index lost 0.5%. Hong Kong's Hang Seng Index slipped 0.1% and the Hang Seng China Enterprises Index declined 0.4%.
European stock markets dropped at the start of trading as investors awaited key US inflation data. London's FTSE 100 opened lower after data showed economic output in July contracted at the fastest pace this year, sparking recessionary concerns, while shares of oil giant BP fell after its CEO resigned.
The initial public offering (IPO) of Samhi Hotels, a hotel property owner, is set to kick off on Thursday, September 14. The company has already disclosed the IPO price band and other pertinent details, including the IPO subscription period.
The Samhi Hotels IPO, with a total value of ₹1,370.10 crore, will be available for subscription until September 18, which falls on a Monday.
As of March 31, 2023, Samhi Hotels boasts a portfolio of 4,801 keys distributed across 31 operational hotels situated in 14 of India's prominent urban consumption hubs. (Read More)
China flagged security problems with iPhones while saying it isn’t barring purchases, the government’s first comments on the topic after news reports that authorities are moving to restrict the use of Apple Inc. products in sensitive departments and state-owned companies.
“We noticed that there have been many media reports about security incidents concerning Apple phones," Chinese Foreign Ministry spokeswoman Mao Ning said Wednesday at a regular press briefing in Beijing, without elaborating.
China plans to expand a ban on the use of iPhones to a plethora of state-backed companies and agencies, Bloomberg News has reported, a sign of growing challenges for Apple in its biggest foreign market and global production base. Several agencies have begun instructing staff not to bring their iPhones to work. (Bloomberg)
Allcargo group firm Gati on Wednesday said it is expecting an 18–20 per cent increase in festive season demand, particularly in segments such as e-commerce and white goods, among others, this year.
The company said it is geared up to cater to this anticipated surge with its enhanced warehousing and service delivery capabilities.
Besides, a mega surface transhipment centre and distribution warehouse at Bhiwandi in Thane district of Maharashtra, Gati also has surface transhipment centre (STC) at Farukh Nagar (Haryana), Indore, Nagpur and Guwahati. (PTI)
The Securities Appellate Tribunal (SAT) will hear the case related to Punit Goenka and the Indian market regulator Sebi on 14 September, Thursday.
Zee Entertainment Enterprises' Punit Goenka and Subhash Chandra have been barred by the Sebi from holding key positions within four Zee group firms and other organisations. (Read More)
Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services: Rising crude prices positively impact oil exporters and negatively impact oil importing countries like India. Every 10-dollar rise in Brent crude prices widens India’s Current Account Deficit by 0.5%. Consequently, this depreciates the INR and leads to imported inflation. Also, rising crude prices impact the profit margins of companies that use oil as input. So, the impact on the stock market will be negative. But now in India, the markets are ignoring the rising crude prices. The reason is that the positive impact of good GDP growth, decent corporate earnings and sustained fund flows to the market is neutralising the negative impact of rising crude. The situation might change if Brent crude rises to $100."
The UK economy shrank at the fastest pace in seven months in July as strikes and wet weather hit activity harder than expected, reviving fears that a recession may be underway.
Gross domestic product slipped by 0.5% following a 0.5% gain in June, the Office for National Statistics said Wednesday. Economists had expected a contraction of 0.2%. Services, construction and manufacturing all shrank.
Britain’s economy, which the Bank of England expects to stagnate at best for much of the next two years, is now losing steam in the face of a sharp increase in borrowing costs. That may give policymakers pause for thought when they decide next week whether to raise interest rates again in their fight to tame inflation. (Bloomberg)
Crude oil prices on Multi Commodity Exchange of India (MCX) traded higher following a sharp rally in international oil prices that hit a 10-month high amid concerns over tightening supply.
At 1:40 pm, crude oil prices were trading 0.27% higher at ₹7,405 per barrel on MCX. Crude oil price opened at ₹7,372 a barrel as compared to its previous close of ₹7,385 on the bourse.
International crude oil prices rose, firming around a 10-month peak, as the market balanced supply concerns over Libya output and OPEC cuts with global macroeconomic headwinds.
RR Kabel IPO Subscription Status: RR Kabel IPO was subscribed 12% on day 1 so far. RR Kabel IPO opened for subscription today and will close on Friday, September 15.
RR Kabel IPO received a tepid response from non-institutional investors (NIIS) retail investors, and employee portion on day 1. The qualified institutional buyers (QIBs) portion has not seen any subscriptions so far.
RR Kabel IPO retail investors portion was subscribed 19%, the NII portion was subscribed 10%, and the employee portion was subscribed 34%. (Read More)
Jupiter Lifeline IPO allotment date: Jupiter Lifeline Hospitals IPO share allotment will be finalised today (Wednesday, September 13). The investors who applied for the issue can check the Jupiter Lifeline IPO allotment status in the registrar's portal, which is Kfin Technologies Ltd.
Investors can find out if and how many shares they have been given through the basis of allotment. The initiation of the refund process will start on Thursday, September 14, for individuals not given shares. Those allotted will receive their shares in their demat accounts on Friday, September 15. (Read More)
Tokyo stocks slipped on Wednesday, dragged down by falls in tech shares on Wall Street as investors awaited the release of US inflation data.
The benchmark Nikkei 225 index dropped 0.21 percent, or 69.85 points, to 32,706.52, while the broader Topix index gave up 0.05 percent, or 1.27 points, to 2,378.64. (AFP)
Emkay Investment Managers Ltd. (EIML), the asset management arm of Emkay Global Financial Services Ltd., announced the appointment of Manish Sonthalia as the Chief Investment Officer at the firm.
Coffee Day share price surged 18 per cent in intraday trade on Wednesday amid media reports that Coffee Day Global and IndusInd bank reached a settlement and have withdrawn insolvency litigations.
"Coffee Day Global and IndusInd bank told the Chennai bench of National Company Law Appellate Tribunal (NCLAT) on September 13 that they have reached a settlement and that the two parties have withdrawn insolvency litigations. NCLAT took their submissions on record and set aside the order admitting Coffee Day Global to insolvency," Moneycontrol reported. (Read More)
Railway stock prices continued to trade in red on Tuesday's session on the back of profit booking but witnessed major shifts in the price during the initial few minutes of today's trade. Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam, IRCON International, and RailTel Corporation of India slumped 4% to 8% on Tuesday's trading session.
Analysts say that although the performance may not be as strong as the current run from the previous week, but railway stocks are expected to be in an uptrend moving forward. Corrective phases in midcaps and small caps were another factor weighing on the railway stocks.
Sugar output in Maharashtra, India's top producing state, is likely to fall 14% in the 2023/24 crop year to its lowest in four years due to lower cane yields following the driest August in more than a century, industry and government officials told Reuters on Wednesday.
The reduced output could add to food inflation and discourage New Delhi from allowing sugar exports, supporting global prices which are already near their highest in more than a decade.
Higher domestic prices will, however, improve margins for producers such as Balrampur Chini, Dwarikesh Sugar , Shree Renuka Sugars and Dalmia Bharat Sugar, helping them make payments on time to farmers. (Reuters)
India's retail inflation saw a decline in August, easing from the 15-month high recorded in the previous month, primarily due to a cooling in vegetable prices. According to data released by the Ministry of Statistics and Programme Implementation on September 12, the Consumer Price Index (CPI) inflation for August decreased by 61 basis points (bps) to 6.83%, down from 7.44% in July.
Notably, food inflation, which carries significant weight in the overall basket of items, rose by 9.94% in August, showing a moderation from the 11.51% increase observed in July. (Read More)
Mohit Ralhan, CEO - TIW CAPITAL on Consumer Price Index Data CPI and Index of Industrial Production Data IIP: Inflation declined to 6.8% YoY in August from 7.4% in the previous month as food inflation moved lower. Vegetable prices which had led to the higher reading in July declined 5.9% MoM. Cereals and pulses, the other major contributing categories, only saw a marginal rise sequentially. The food price index as a whole witnessed a sequential decline. Fuel inflation also remained in check despite rising global crude oil prices. The better-than-expected inflation data means that RBI will continue to hold the policy rate at its upcoming meeting. Core inflation hasn’t inched higher due to the transitory shock from vegetable prices. But the central bank will remain cautious given that global crude benchmark, Brent is holding above USD 90/bl, and rainfall has been less than normal in August
Knight Frank India, in its latest assessment, noted that property registrations in the Pune district, in August 2023, rose by 99% year-on-year (YoY) with a total of 13,021 units being registered against 6,544 registrations in August 2022. Stamp duty collections in August 2023 also witnessed substantial growth, rising by an impressive 82% YoY to reach a total of INR 423 Crores. Furthermore, the cumulative value of the registered properties in August 2023 amounted to INR 10,613 cr.
The Reserve Bank of India (RBI) released new guidelines on Wednesday aimed at addressing borrower issues and fostering responsible lending behavior among banks, non-banking financial companies (NBFCs), and other regulated entities.
Under these guidelines, the Regulated Entities (RE) are required to promptly return all original movable or immovable property documents and remove any charges registered with any registry within 30 days after the full repayment or settlement of the loan account. These measures are designed to ensure a more efficient and borrower-friendly lending process. (Read More)
GMR Power and Urban Infra Limited witnessed a substantial increase in its share price during Wednesday's trading session, surging by nearly 10%. This surge came in response to the company's receipt of a Letter of Award (LOA) for a significant smart metering project valued at ₹2,470 crore in Uttar Pradesh.
At the start of the trading day, GMR Power and Urban Infra's share price opened at an intraday low of ₹34.01 per share on the BSE. However, by 10:16 IST, the share price had risen by 8.06% to reach ₹35.95 per share.
The project is to be executed by GMR Smart Electricity Distribution Private Limited (GSEDPL), a subsidiary of GMR Power and Urban Infra Limited. The LOA was awarded by Dakshinanchal Vidyut Vitran Nigam Limited and pertains to the implementation of a smart metering project covering the Dakshinanchal region, including Agra and Aligarh zones, in Uttar Pradesh. This announcement was made by the company in an exchange filing. (Read More)
Vivek Kumar of JM Financial Institutional Securities views on Automobiles | Quarterly update and outlook from global OEMs
This is the 15th note in our global auto series covering quarterly commentary from 30+ global automotive companies. As per most OEMs, the shortage of chip supplies and logistics’ challenges continue to ease and this has started reflecting in better wholesale performance. Wholesales for major OEMs were in positive trajectory owing to favourable base. Majority of the OEMs have either maintained or upgraded volume guidance for CY23. Inflationary pressure has softened and most companies have guided for better margin outlook during the year. Global Tractor demand remains mixed with positive outlook for large agri equipment and inventory destocking for small agri equipment. Tyre companies indicated of sluggish demand environment and continued inventory destocking in replacement market in the near term. Overall, automakers are maintaining a positive mid-term outlook, focusing on executing healthy order book and move to electrification. We expect revenue/margins of Indian auto companies with higher global exposure like SAMIL / TTMT / SONACOMS / SEL to continue to improve.
KEC International witnessed a remarkable surge in its share price on Wednesday, soaring more than 11% to achieve a new 52-week high. This surge came on the heels of the infrastructure company's announcement that it had secured fresh orders valued at ₹1,012 crore spanning across its diverse business sectors. KEC International shares experienced a substantial rally, peaking at a 52-week high of ₹739.00 each on the BSE.
The company revealed that its civil business arm had successfully clinched contracts from new clients within the Data Center and FMCG (Fast-Moving Consumer Goods) segments in India. These contracts encompass the construction of a data center in Western India and the establishment of a manufacturing facility for a prominent global FMCG company in Southern India. (Read More)
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services: Market experts have been repeatedly warning of froth in the mid-and small-cap segments. And, the fear of sharp correction in this space has finally happened with 4.10 percent correction in the Nifty Small-cap index and 3.07 percent correction in the Nifty Mid-cap index. Even after this correction, fundamentals do not support the valuations in these segments. Therefore, more pain is likely.
On the other hand, high-quality large-caps in banking, capital goods and IT are on stronger wicket. More selling in the broader market and buying in large-caps is likely in the near term.
Even though the undercurrent of the market is strong, fundamentals do not support a sustained rally. Crude at $92 is a big macro concern. The market is ignoring this headwind.
Shlok Srivastav, Co-founder & COO, Appreciate, a fintech platform for Savings & Investment: The overall retail inflation rate of 6.83% for August comes as a much-needed point of relief after the 7.44% rate that we saw in July. Given that the government has stepped in to curb rice and tomato exports, a gradual reduction in inflation in September and beyond is to be expected. As for the IIP data, the industrial output growth of 5.7% in July, up from 3.7% a month earlier, is extremely heartening. Mining has made a particularly impressive comeback, with its output standing at 10.7%, compared to -3.3% a year prior. Power production has also done well, with a growth rate of 8%, compared to 2.3% a year prior. Overall, these numbers bode well, under the assumption that seasonal factors normalise themselves. Once inflation has been steadied, the RBI should be able to bring it back to its usual comfort zone of 2-6%.
The RR Kabel IPO is now open for subscription, starting on Wednesday, September 13, and concluding on Friday, September 15. The price band for RR Kabel shares has been set between ₹983 to ₹1,035 per equity share, each having a face value of ₹5. It's worth noting that on Tuesday, September 12, RR Kabel successfully garnered ₹585 crore from anchor investors.
The IPO distribution is as follows: RR Kabel has allocated up to 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), a minimum of 15% for Non-Institutional Investors (NII), and at least 35% of the offering is reserved for Retail Investors. (Read More)
Om Mehra, Equity research analyst, Choice Broking: The Asian market was trading in a mixed note after US markets closed lower on Tuesday.
Global markets gear up for a key inflation report that’s expected to bring insights on the outlook for the Federal Reserve’s benchmark interest rate.
DIIs were net sellers, offloading shares worth ₹247 crore while FIIs also sold shares worth ₹3,245 crore on a net basis.
Nifty would attempt to hold above 20000 levels, but the tone for today's session would be set by midcap and small cap. Based on the Open Interest, Index may swing within 19900 and 20100; crossing this range would show a clear direction. Support for the Bank Nifty is still in the range of 45000-45120, while resistance is set at 45850.
The IT and FMCG sectors may remain on the radar for today’s session.
The Indian rupee started Wednesday on a slightly weaker note against the US dollar, influenced by the strength of the greenback and a spike in crude oil prices. The domestic currency commenced the day at 82.93 per dollar, a marginal dip from the previous day's closing rate of 82.92.
In global markets, the US dollar index remained relatively stable at 104.60, while Asian currencies and stock markets displayed a mixed performance. On the bond front, Treasury yields saw an uptick during the day, with the two-year note reaching 5.0264%, while the ten-year yields held steady at 4.2881%.
US-based private investment firm Bain Capital on Tuesday divested a 2.8 per cent stake in L&T Finance Holdings for ₹910 crore through open market transactions.
Axis Mutual Fund, DSP Blackrock Mutual Fund, Bajaj Allianz Life Insurance Company, SBI Life Insurance Company, Lakshmi Capital Investments, Key Square Master Fund LP and BNP Paribas Arbitrage were the buyers of shares of L&T Finance Holdings, the block deal data showed on the BSE.
Bain Capital through its investment vehicles, BC Asia Growth Investments and BC Investments VI Ltd offloaded the shares of L&T Finance Holdings. (PTI)
Day trade guide by Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher:
Buy ICICI Bank at ₹990 with a stop loss of ₹974 and a target price of ₹1,035.
Buy Britannia Industries at ₹4,567 with a stop loss of ₹4,485 and a target price of ₹4,700.
Buy Divi's Laboratories at ₹3,787 with a stop loss of ₹3,700 and a target price of ₹3,900. (Read More)
One of India’s hottest tech companies, Byju’s, allegedly hid $533 million in an obscure three-year-old hedge fund that once said its principal place of business was an IHOP pancake restaurant in Miami, according to lenders trying to recover the cash.
Byju’s last year transferred more than half a billion dollars to Camshaft Capital Fund, the investment firm founded by William C. Morton when he was just 23 years old, some Byju’s lenders claim in a lawsuit. Morton’s fund received the money despite an apparent lack of formal training in investing, according to the lenders. What’s more, luxury cars — a 2023 Ferrari Roma, a 2020 Lamborghini Huracán EVO, and a 2014 Rolls-Royce Wraith — have been registered in Morton’s name since the transfer occurred, according to court papers.
The allegations are the latest twist in an increasingly public battle between Byju’s, an India-based education tech firm, and lenders who claim the $533 million is collateral for a $1.2 billion loan. The two sides have been trading accusations about the loan, with lenders claiming it is in default and Byju’s accusing lenders of predatory tactics.
On Tuesday, September 12, oil prices surged by approximately 1%, driven by a more constrained supply outlook. This rally followed the decision by major oil producers, Saudi Arabia and Russia, to extend their voluntary oil supply reductions until the year's end. The Organisation of Petroleum Exporting Countries (OPEC) noted that leading economies were performing better than anticipated, despite the backdrop of rising interest rates.
According to Reuters, November Brent crude futures climbed by 85 cents, marking a 0.9% increase to reach $91.49 per barrel. Concurrently, US West Texas Intermediate crude futures for October strengthened by $1.02, registering a 1.2% gain, and settling at $88.31 per barrel. (Read More)
Wipro completes transfer of Wipro 4C NV, OMC stocks downgraded, Maruti Suzuki expects record festive sales, SpiceJet pays Kalanithi Maran, Dior leases from Reliance, Bain Capital sells stake in L&T Finance, Bank of Maharashtra to raise funds, Agarwal suggests Vedanta acquire Konkola Copper Mines, Godfrey Phillips proposal rejected, Baid Finserv to issue debentures. (Read More)
American retailer Gap is set to expand its footprint across India with local partner, Reliance Retail, preparing to launch over 100 stores, including shop-in-shop and stand-alone outlets.
Gap operates more than 100 points of sale in India, mainly third-party stores or as part of Reliance outlets, as well as Gap-exclusive stores.
“Gap is seeing rapid rollout of both online or offline, there is huge acceptance in the market. We are trying to grow as fast as we can; the moment we find stores we are opening. So Gap will see huge increase," Akhilesh Prasad, president and chief executive, Fashion and Lifestyle, Reliance Retail Ltd, said. Prasad, however, did not share the timeline of the stores' expansion plan. (Read More)
Arm, the chip designer owned by SoftBank Group Corp, received enough backing from investors to secure at least the top end of the price range in its initial public offering, which would command a $54.5 billion valuation on a fully diluted basis, a person familiar with the matter said on Tuesday.
Reuters had reported on Sunday that this outcome was likely. After reviewing investor commitments on Tuesday, Arm decided it will only accept the top end of its indicated $47-to-$51-per-share range, or a price that is even higher, the source said. (Read More)
Wipro Holdings (UK) has completed the transfer of its entire shareholding in Wipro 4C NV to Wipro IT Services UK Societas, with the effective date being September 12, according to reports. Both Wipro Holdings (UK) and Wipro IT Services UK Societas are wholly-owned subsidiaries of the company, while Wipro 4C NV operates as a step-down subsidiary. This move is part of the company's broader strategy to streamline and simplify its group structure.
Maruti Suzuki India and Hyundai Motor expect record festive sales this year amid concerns over high interest rates and the likelihood of deficient monsoon affecting rural sentiments.
Speaking on the sidelines of the annual SIAM Convention here, Maruti Suzuki India Senior Executive Officer, Marketing & Sales, Shashank Srivastava said that on average, the festive season accounts for about 23-26 per cent of the industry's annual sales.
This fiscal, the total expected PV sales is 40.5-41 lakh, and 25 per cent of it means that the festive season sales this year would cross the 10 lakh sales mark.
"This is the first time it will cross the 1 million mark. The previous peak was 9.34 lakh in 2021, which had two things going for it. It had 92 days of festive seasons and there was a pent-up demand due to Covid-19 induced lockdown in Q1 (of the year)," Srivastava said.
For MSI, he stated that the company has witnessed a 24 per cent (year-on-year) increase in Onam sales this year.
Hyundai Motor India COO Tarun Garg said the automaker expects around 9 per cent year-on-year growth in sales volume in the festive season.
"We are expecting that this year, we should log in around 9 per cent growth over last year," he noted when asked about the company's expected performance in the 83 days period. (PTI)
SpiceJet Ltd on Tuesday said it paid ₹100 crore to Sun Group chairman and former promoter of the airline Kalanithi Maran, according to the direction of the Delhi high court on the arbitral award.
On Monday, the airline paid ₹77.5 crore and committed to clear the remaining amount of ₹22.5 crore within a day, as the counsel appearing for Maran refused to accept a cheque that was submitted in the HC, and instead requested SpiceJet to transfer the amount via RTGS. (Read More)
India’s factory output rose to a five-month high of 5.7% in July, up from 3.7% in June, driven by strong growth in mining and power, official data released on Tuesday showed.
The Index of Industrial Production (IIP), or factory output growth, stood at 2.2% in July 2022, mainly due to a low base effect.
“The growth rates over the corresponding period of the previous year are to be interpreted considering the unusual circumstances on account of covid-19 pandemic since March 2020," said an official statement. (Read More)
Retail inflation moderated to 6.83% in August from a 15-month high of 7.44% in July due to easing vegetable prices, offering a measure of relief to the Indian central bank and bond investors.
Consumer Price Index (CPI)-based inflation, however, continued to exceed the Reserve Bank of India’s (RBI’s) target range of 2-6%. A Mint poll of 18 economists estimated retail inflation to slow to 7% in August.
Food inflation, measured by the Consumer Food Price Index, which accounts for nearly half of the overall consumer price basket, slowed to 9.94% in August from 11.51% in July, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday. (Read More)
Wall Street stocks ended lower on Tuesday as surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped after a downbeat forecast.
Oracle shares tumbled to their lowest since June after the cloud-services provider forecast current-quarter revenue below targets and narrowly missed first-quarter expectations.
Cloud-computing heavyweights Amazon.com and Microsoft also fell, pressured by Oracle's weak forecast and by a rise in U.S. Treasury yields.
Oil prices jumped more than 1%, building on a recent rally and stoking worries that sticky inflation could mean U.S. interest rates stay higher longer in the aftermath of strong economic data.
the S&P 500 lost 25.52 points, or 0.57%, to end at 4,461.94 points, while the Nasdaq Composite lost 144.28 points, or 1.04%, to 13,773.62. The Dow Jones Industrial Average fell 14.37 points, or 0.04%, to 34,649.35. (Reuters)
Download the App to get 14 days of unlimited access to Mint Premium absolutely free!
