US stock indices futures rise in Asia session Tuesday. In the previous session, the Nasdaq Composite and S&P 500 scaled a fresh highs tracking a pre-earning jump in Alphabet Inc.
Beat driven by dark store expansion and lower than expected adj EBITDA losses
Remains top-pick in India internet and is poised to benefit from the structural shift to quick commerce
Macquarie on Eternal
Maintain Underperform with a target price of Rs 150
Quick Commerce explosive growth, losses contained; Food Delivery growth lags
Despite yet to be proven steady-state economics and rising competition, estimate the current share price implies $15bn value for Blinkit
Remain guarded on both Quick Commerce economics and what’s priced in Eternal shares
Citi on Eternal
Maintain Buy; Hike target price to Rs 320 from Rs 290
Quick Commerce Delivers Intact Growth Momentum + Lower Losses
Quick Commerce Adj EBITDA surprised positively
Believe that gains from the improved Quick Commerce outlook more than offsets the negative impacts
Eternal is one of top India Internet Picks
Crude oil prices declined for third session in a row as tariff deadline draws closer. US and European Union are about to enter another round of negotiation in order to strike a deal by Aug 1.
The September future contract was trading 0.81% down at $68.65 a barrel as of 7:57 a.m.
Japan’s benchmark indices the Nikkei 225 and Topix staged a relief rally after Prime Minister Shigeru Ishiba said that he will continue as a leader after ruling party lost majority in the upper house.
Markets across China, Hong Kong, South Korea, and Australia advanced tracking overnight gains on Wall Street as investors await earnings from the US corporates.
US stock indices futures rise in Asia session Tuesday. In the previous session, the Nasdaq Composite and S&P 500 scaled a fresh highs tracking a pre-earning jump in Alphabet Inc.
The Dow Jones Industrial Average rose 0.17% to 44,623.00, and the S&P 500 future rose 0.11% to 6,351 as of 7:29 a.m. The Nasdaq 100 future rose 0.07% to 23,363.24.
The GIFT Nifty was trading 0.01% or 2.50 points higher at 25,184.50 as of 6:57 a.m., which implied a higher open for the Nifty 50 index.
Traders will likely keep an eye on Oberoi Realty Ltd., PNB Housing Finance Ltd. as they released their first-quarter results. Bajaj Finance Ltd., 360 One Wam Ltd., State Bank of India, and Afcons Infrastructure Ltd. will also be in focus.
The benchmark equity indices snapped three sessions of losses on Monday as shares of ICICI Bank Ltd. and HDFC Bank Ltd. led the gains.
The NSE Nifty 50 ended 122.3 points or 0.49% higher at 25,090.7, while the BSE Sensex gained 442.61 points or 0.54% to close at 82,200.34.