Sensex up 546 pts, ends above 54K; Nifty tops 16,250; financial stocks gain


Stock market updates: Dalal Street logged yet another record breaking session on Wednesday as highest-ever quarterly net profit by India's largest state-owned bank State Bank of India, at Rs 6,504 crore, sparked rally in other financial stocks. Besides, expansion in Services PMI in July on a monthly basis, reflecting strengthing of economic activity, bolstered sentiment on the bourses. 

HDFC (up 4.6 per cent), Kotak Bank, ICICI Bank, SBI, HDFC Bank, and Axis Bank were the gainers on the Sensex, giving it a 546-point (1 per cent) lift. The index settled at 54,370 levels on the BSE. It's NSE counterpart, meanwhile, rose 128 points to end at 16,259 levels. 

Both the indices hit new lifetime highs of 54,465.9 and 16,290.2, respectively in intra-day deals.

The broader market, however, saw profit booking as, both, the BSE Mid and SmallCap indices declined 1 per cent each. 


TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Nifty stand tall for the second consecutive day after giving an ascending triangle breakout on the daily chart and closed a day at 16259 with gains of nearly one percent. the index has formed immediate resistance near 16300 zone for further upside index needs to cross 16300 zone decisively or else we may see some profit booking towards immediate support zone of 16180-16090 zone but again any dips will be again buying opportunity until holding above 16k mark.

What cooled off the rally in broader markets?

Bulls were in complete control as Indices rose a percentage led by Largecaps and Financials even as Midcaps went through a corrective phase today after many months of outperformance. The thumping retail response on the first day itself in the IPO of the foursome seems to have had a cool-off effect on the broader markets today.

-- S Ranganathan, Head of Research at LKP securities

VIEW :: High-beta sectors appear most vulnerable to correction

Nifty is trading close to technical resistance from a trendline connecting earlier highs in CY2021 (Feb & Jun) – seen in conjunction with non-confirmation of strength in Mid-cap & Small-cap indices, which had hitherto been out-performing headline indices, this suggests a narrow advance, and potential for a short-term pull-back. Long futures open interest for the Retail segment has seen some unwinding over the last week and net long positions are down to mid-Jun levels; this was also evident in cheap roll spreads during July expiry, and points to reluctance to extend leverage on long positions. High-beta sectors appear most vulnerable to a correction in the near-term.

-- S Hariharan, Head - Sales Trading, Emkay Global Financial Services

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Domestic market extended its rally as banking and finance stocks started to rebound after good recent earnings, upbeat economic data and in anticipation of RBI policy. Market is expecting MPC to maintain the supportive measures and leave the rates unchanged.

IPO Subscription Status Update

Devyani International 2.42
Windlas Biotech 2.77
Krsnaa Diagnostics 1.76
Exxaro Tiles 3.82

*Data as of 4 pm; Source: BSE

Vodafone Idea cracks 18%

>> Vodafone Group Plc has ruled out any further equity infusion in its debt-ridden telecom joint venture in India

Earnings Impact :: IIFL Wealth Management zooms 14%

>> Its consolidated profit after tax (PAT) jumped 42 per cent year on year (YoY) at Rs 119 crore on back of strong operational performance, while sequentially, PAT grew 16 per cent. The company announced a special dividend of Rs 35 per share.

Result Reaction :: Adani Green drops 2% even as profit rises 10 folds

>> Adani Green Energy Ltd (AGEL) has posted nearly 10-fold jump in its consolidated net profit at Rs 219 crore for the June quarter, compared to the year-ago period, mainly on the back of higher revenues.

Earnings Impact | SBI ends 2% higher on posting highest ever quarterly profit

>> State Bank of India (SBI), on Wednesday, reported 55.24 per cent year-on-year increase in standalone net profit at Rs 6,504 crore for April-June quarter (Q1FY22), meeting Street expectations.

>> The stock had touched all-time high in trade earlier

BSE Smallcap index reverses gains, ends over 1% lower

BSE Midcap index slides from all-time high to end in the red

Nifty Realty declines nearly 2%, snaps 4-day winning run

Sector Watch :: Barring banking and financial sectors, all end in the red

Sensex Heatmap | Top gainers & losers at close

>> Top gainers: HDFC, Kotak Bank, ICICI Bank, HDFC Bank

>> Top losers: Titan, Nestle India, Sun Pharma, Ultratech Cement

CLOSING BELL :: Sensex, Nifty hit fresh record closing highs

Signs of macroeconomic recovery and firm global market mood were among major factors that aided indices rise to record highs. The BSE Sensex ended at 54,369.77, up 546.41 points or 1.02 per cent. It had hit an all-time high of 54,465.91 in intra-day session. Nifty50, meanwhile, rose 128.05 points or 0.79 per cent to 16,258.80. The index had scaled new peak of 16,290.20 in trade earlier. 

Adani Green Energy net zooms 10-fold to Rs 219 cr in June quarter

The consolidated net profit of the firm was Rs 22 crore in the quarter ended June 30, 2020, the company said in a regulatory filing.
Total income rose to Rs 1,079 crore in the quarter under review, from Rs 878 crore in the same period a year ago. READ MORE

HSBC sees 16% downside in Zomato stock; cuts rating to reduce

Food delivery investors in India, according to HSBC, face three key challenges. First, unlike most e-commerce segments, food delivery will need to see profound cultural evolution, as there are longstanding inhibitions against eating 'non-home-cooked food'. Secondly, diversification into e-grocery may not be as easy as it seems given cash burn. Lastly, HSBC believes the current valuations are 'too punchy' and factor in aggressive growth forecasts. READ MORE

India rupee hits 6-week top on IPO inflows, record-high stocks

The Indian rupee strengthened to a six-week high on Wednesday, buoyed by gains in local stocks and inflows towards initial public offerings, but bonds stayed largely steady ahead of an interest rate review due later this week.
The partially convertible rupee was at 74.17/18 per dollar, as of 0805 GMT, after touching 74.0925 earlier, its strongest since June 22. It had closed at 74.28 on Tuesday. READ MORE

ALERT :: Semiconductor shortage hits Maruti Suzuki's production

Owing to the semiconductor shortage situation, the company's Suzuki Motor Gujarat Private Limited has decided to tentatively not carry out production on the three Saturdays (7th, 14th and 21st August).

In addition, some of the production lines may see temporary reduction from 2-shift to 1-shift working.

As the situation is dynamic and uncertain, the company will monitor and take a day-to-day decision on models, lines or shifts to optimize resources for maximum efficiency. 

Source: BSE filing

SBI rebounds 5% from low post Q1 results; market-cap crosses Rs 4-trillion

The surge in the stock price of SBI has made the state-owned lender the fourth bank - after HDFC Bank, ICICI Bank and Kotak Mahindra Bank - to achieve this milestone of Rs 4-trillion in market-cap. At 02:07 pm; the stock was traded 3.6 per cent higher at Rs 462, with the market-cap of Rs 4.13 trillion and stood at eighth position in overall market-cap ranking, the BSE data showed READ MORE

Financials charge ahead on D-St!

Indus Towers hits over 8-month low on growth concerns

According to analysts, lower penalty receipts from VIL in FY23E should taper growth. Furthermore, its situation remains precarious, weighed by ballooning debt and its inability to raise funds and improve its liquidity. This remains the biggest overhang for Indus Towers as VIL is its large client and the tower-sharing business has a limited business case for single-tenancy operations. On the other hand, the threat from RJio’s increased focus in the Tower Infrastructure space may weaken Indus’ positioning, brokerage firm Motilal Oswal Financial Services said in a result update. READ MORE

SBI reports highest-ever quarterly net profit of Rs 6,504 crore in Q1

State Bank of India (SBI), on Wednesday, reported 55.24 per cent year-on-year increase in standalone net profit at Rs 6,504 crore for April-June quarter (Q1FY22), meeting Street expectations. The net profit in the year-ago period was Rs 4,189.4 crore. Analysts, on average, projected profit after tax (PAT) to rise anywhere between 33-63 per cent, up to Rs 6,841 crore. READ MORE


Sensex at record high but losers outweigh gainers on index

IPO UPDATE :: Krsnaa Diagnostics IPO fully subscribed in less than 4 hours

>> With this, all 4 IPOs that opened today have been subscribed over 1 time

June Quarter Results :: State Bank of India

>> PAT: Rs 6504 crore

>> NII: Rs 27638 crore

>> Gross NPA at 5.32% vs 4.98% QoQ

>> Provisions: Rs 10,050, down 9% QoQ

NEWS ALERT :: Cement firm Nuvoco Vistas to bring Rs 5,000-crore IPO

>>  Price Band of Rs. 560 – Rs. 570 per equity share 
>> Aggregate Offer Size up to Rs. 5,000 crores i.e. Fresh Issue of Equity Shares aggregating up to Rs. 1,500 crores and an Offer for Sale aggregating upto Rs. 3,500 crores.
>> Offer to run between: August 09 - August 11, 2021.
>> Minimum Bid Lot is 26 Equity Shares and in multiples of 26 Equity Shares thereafter.

Q1 earnings :: Blue Star

>> Revenue: Rs 1052 crore

>> PAT: Rs 13 crore

>> Margin at 4%

Nykaa IPO: first profitable unicorn, led by women, to tap public markets

Those opting to sell via OFS include promoters Sanjay Nayar Family Trust (4.8 million shares), and investors such as TPG Growth IV, Lighthouse India Fund III, Lighthouse India III Employee Trust, JM Financial and Investment Consultancy, Sunil Kant Munjal and others. READ MORE
Falguni Nayar, founder & CEO, Nykaa

MARKET STRATEGY :: Any dips should be utilized to build positions

Nifty made a record high and crossed 16k levels while Sensex, today, touched 54k for the first time, signifying continuation of the bull run. Market is welcoming the sequential recovery of key high frequency indicators like manufacturing PMI, the GST collection and the Google mobility data, which are all trending higher on a month-on-month basis.

With the improvement in key macro data, FIIs turned buyers in the equity market on Tuesday v/s net sellers in the last month. Further, the recent spate of IPOs and their success clearly indicates the appetite for mid and small cap stocks. Overall, we remain constructive on the market and we believe Mid Cap, Small Cap, and Large Cap value will be the key allocation themes. Any dips should be utilized to build positions in the recommended themes.

Views by: Naveen Kulkarni, Chief Investment Officer, Axis Securities.

IPO UPDATE :: Devyani International IPO sails through

Mid-market view | Gaurav Garg, Head of Research at CapitalVia Global Research

Indian benchmark indices started positive with the global sentiments intact towards positivity, completely ignoring the spread of delta variant around the world. Sentiment in the Indian market remained positive with the market breaching important level of 16000, and positive cues from the wall street and other Asian markets. All major sectors have shown positivity in the market in the second half. We have witnessed the breach of 16200 level, sustaining above 16200, we expect the market to gain momentum, leading to an upside projection till 16450-16500 level. Technical indicators also support positivity in the market.

Voda Idea slips 26% in 2 days as Vodafone Plc rules out fresh fund infusion

Shares of Vodafone Idea (Vi) were slipped 18.5 per cent at Rs 6.03, hitting a fresh 52-week low on the BSE in the intra-day trade on Wednesday, after report suggested that Vodafone Group Plc has ruled out any further equity infusion in its debt-ridden telecom joint venture in India. With today's fall, the stock of the telecom services provider has tanked 26 per cent in two days after reports suggested Kumar Mangalam Birla has told the government that he is willing to give up promoter stake in the company. READ MORE

NEWS ALERT :: Kesoram Industries increases size of rights issue

Kesoram Industries said the fund raising committee of the Board of Directors has enhanced the size of Rights Issue from up to Rs 200 crore to up to Rs. 400 crore.

NEWS ALERT :: Indian Hotels Board to consider fund raising options at Aug 9 meeting

IPO UPDATE :: Windlas Biotech IPO sails through within 2 hours

IPO frenzy: 24 stocks that more than doubled your money in two years

The retail frenzy over initial public offers (IPOs) seen over the past few months is not without reason.
Over the past two years, 61 companies have tapped the primary market and raised funds via IPOs. Of these, 24 companies (nearly 39 per cent companies) have more than doubled at the bourses with Happiest Minds, IndiaMart Intermesh, Indian Railway Catering and Tourism Corporation (IRCTC), Affle India and Route Mobile surging 468 per cent to 722 per cent since their listing date till now. READ MORE

ICICI Pru, IIFL Wealth: Trading strategies for buzzing stocks of the day

The benchmark indices recorded another day of solid gains, vaulting past crucial levels amid robust India Inc earnings and promising macroeconomic data. The BSE Sensex crossed the 54,000-mark for the first time while NSE Nifty topped 16,200. While action remained hot at the flagship level, there were certain stocks that also buzzed on traders' radar. Here are trading strategies for them.


>> Delhi HC defers hearing in case as SC verdict awaited
>> SC to decide on fate on FRL-Reliance Retail deal by Aug 12
>> HC to hear FRL's appeal vs single-judge order to attach its assets on August 31

What to expect from RBI's monetary policy outcome on Friday?

The MPC would likely continue with the accommodative stance and maintain the rates unchanged as the economy is still in the recovery phase. The fear of the third wave would also force the RBI to continue with the growth-supporting measures. However, the rising inflation rate in the domestic economy is a worry. And, one needs to closely see whether there will be an indication of the normalization of monetary policy.

-- Deepthi Mathew, Economist at Geojit Financial Services

IIFL Wealth up 14% on strong Q1 results, dividend bounty of Rs 35 per share

Shares of IIFL Wealth Management surged 14 per cent to Rs 1,580, also its 52-week high, on the BSE in the intra-day trade on Wednesday after the company reported a good set of numbers for the quarter ended June 2021 (Q1FY22). Its consolidated profit after tax (PAT) jumped 42 per cent year on year (YoY) at Rs 119 crore on back of strong operational performance, while sequentially, PAT grew 16 per cent. The company announced a special dividend of Rs 35 per share. READ MORE

Fintech firm BharatPe valued at $2.85 bln after Tiger Global-led funding

The fund raising, which pushes three-year old BharatPe into the unicorn club, gives the company capital as it takes over distressed lender Punjab and Maharashtra Co-operative Bank with Centrum Financial Services to create a small finance bank.
"We now have $0.5 billion cash on books and are extremely well capitalized to deliver on our mandate to build India's first truly digital bank," said Ashneer Grover, co-founder and managing director of BharatPe. READ MORE

IPO CHECK :: Exxaro Tiles IPO fully subscribed within one hour

BUZZING :: Vodafone Idea shares in free fall, tank another 8%

Q&A | Markets could consolidate at current levels: Harshad Patil, Tata AIA Life

With the markets hitting a fresh record high and India Inc mostly reporting a good set of numbers for the June 2021 quarter, HARSHAD PATIL, executive vice-president and chief investment officer at Tata AIA Life, tells in an interview that rising spend by the government as well as emergence of private sector capex is expected to keep earnings momentum buoyant for the next few years. READ MORE

KR CHOKSEY ON WINDLAS BIOTECH IPO :: Subscribe from long term view

Leadership status in the CDMO industry with long terms relationships allows WBL to have cost leadership through revenue visibility and planning of capex. At the same time, margins are thin due to the highly competitive and fragmented industry. Future prospects for WBL are high given sector’s strong growth potential. Company’s upper price band of INR 480 for the IPO implies a P/E multiple of 22.5 (on recalculated FY21 EPS excluding the exceptional items) which is reasonable compared to industry average of 32.6. While company has not provided peer comparison citing lack of listed peers in the space, we have considered a peer universe of formulations companies comprising a diverse mix of size and scale. and Considering CDMO sector’s growth prospects, WBL’s leadership status in a fragmented industry, potential for margin and revenue improvement through product innovation including injectables foray, we recommend a ‘Subscribe’ from a long term perspective.

NEWS ALERT :: India July Services PMI climbs to 45.5 vs 41.2 in June

Business Activity Index was in contraction territory for the third month in a row. However, rising from 41.2 in June, the latest reading pointed to a slower rate of reduction. Panel members that reported lower output cited subdued demand conditions amid the COVID-19 crisis

HDFC gains 9% in three days on steady performance in June quarter

India’s biggest mortgage lender HDFC on Monday reported a 1.6 per cent year-on-year (YoY) decrease in standalone net profit at Rs 3,001 crore for the April-June quarter of FY22 (Q1FY22) on the back of lower other income and higher tax and employee expenses. In the year-ago period, the profit stood at Rs 3,051 crore. Sequentially, the profit declined 5.6 per cent from Rs 3,180 crore. READ MORE

SBI m-cap surpasses Rs 4-trillion mark ahead of June quarter results

State Bank India (SBI) joined the elite club of companies with Rs 4-trillion market capitalization (m-cap) on the BSE on Wednesday after its share price hit a new high of Rs 448.45 in the intra-day trade. The stock of the country's largest state-owned lender surpassed its previous high of Rs 444.35, touched on July 30, 2021. READ MORE

KR CHOKSEY ON KRSNAA DIAGNOSTICS IPO :: Subscrive with long-term view

Krsnaa Diagnostics has been growing operations and revenues at a much faster pace than the industry. Revenues from operations for FY21 amounted to Rs 396 crore, growing at a CAGR of 54% over last 4 years. Adjusted EBITDA for the year came in at Rs 106 crore (after excluding the gain on fair value movement of CCPS), reflecting a 40% yoy growth on comparable basis. While the company generates two-thirds of its revenues from PPP, receivable days have improved from 96 days in FY18 to 66 days in FY21, reflecting significant reduction in working capital needs. Company intends to utilise a portion of IPO proceeds to retire debt which should improve its bottomline.
Company enjoys leadership status in the PPP diagnostics industry, which should help it to leverage rising demand both in PPP segment as well as overall diagnostics market in India. PPP model also helps in achieving costs synergies and revenue visibility, helping it to become cost competitive. 
At IPO’s upper price band of INR 954, company is being valued at 77.9x times earnings, in line with the industry average of 96x. Considering differentiated business model, strong growth prospects, cost competitiveness and sector leadership, we recommend a Subscribe with a long term perspective for KDL’s IPO.

MARKET VIEW | What drove FIIs to D-Street on Tuesday?

Sometimes amateurs beat professionals. This is happening in the Indian stock market now. FIIs, often regarded as representing smart money, have been pushed back by the sheer momentum of retail investors. FIIs who have been consistently selling in July on rational hopes of a correction in the overvalued market have been forced to buy ( Rs 2117 cr in cash market yesterday) on fears of losing out on the momentum. Retail investors and mutual funds flush with funds from NFOs are driving this market without much regard to valuations. Having broken the 15950 Nifty upper band decisively, sheer momentum may take the market higher. With institutional money pouring in, large caps are likely to outperform if the market continues its upward momentum. Leading banking stocks, which have been underperforming in this rally, are likely to catch up.

- Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Godrej Consumer Products falls 2%ahead of Q1 earnings

Trident locked in 5% upper circuit as firm forays into laundry business

>> The company announced a foray into the laundry business through its 'Tri-Safe' washing powder.

Results Reaction :: IIFL Wealth Management zooms over 10%, hits new high

>> The company has reported 42 per cent jump in its net profit of Rs 119 crore versus Rs 83 crore and revenue was up 43 per cent of Rs 283 crore versus Rs 199 crore.

Vodafone Idea slides further, hits fresh 52-week low

>> Vodafone Group Plc ruled out any further equity infusion in its debt-ridden telecom joint venture in India.

Results Impact :: Tata Consumer sheds 1% as profit declines in Q1

>> Tata Consumer Products reported a decline of 42.05 per cent YoY in consolidated net profit to Rs 200.24 crore for the first quarter ended June 2021. However, its revenue from operations in April-June 2021 jumped 10.85 per cent YoY to Rs 3,008 crore.

Earnings Impact :: Airtel falls 1% as Q1 profit misses estimates

>> The telecom firm reported a net profit of Rs 283.5 crore, in the first quarter ended June 30 (Q1FY22). This was much lower than consensus estimates which had pegged the same at Rs 604 crore. The company had reported a loss of Rs 15,933 crore in the year ago quarter on account of one-time provision for dues related to adjusted gross revenues.

Tata Steel rises 2% as S&P upgrades long-term issuer rating

Global rating agency S&P has upgraded the company’s long-term rating to BB from BB-; outlook remains stable.

BSE Smallcap index scales fresh peak

BSE Midcap index vaults to new high

Sector Watch :: Realty, FMCG indices witness profit taking

Sensex Heatmap | Top gainers & losers in opening session

Top Sensex contributors in opening session : HDFC, Infosys, ICICI Bank



>> BSE barometer Sensex gained nearly 400 points to top 54,000 mark


Sensex Heatmap | Top gainers & losers in pre-open trade

Pre-open Session :: Nifty50 above 16,150

Pre-open session :: Sensex gains 180 points, tops 54K

Top stocks to watch today

Bharti Airtel: The telecom firm reported a net profit of Rs 283.5 crore, in the first quarter ended June 30 (Q1FY22). This was much lower than consensus estimates which had pegged the same at Rs 604 crore. The company had reported a loss of Rs 15,933 crore in the year ago quarter on account of one-time provision for dues related to adjusted gross revenues.
Tata Consumer: Tata Consumer Products reported a decline of 42.05 per cent YoY in consolidated net profit to Rs 200.24 crore for the first quarter ended June 2021. However, its revenue from operations in April-June 2021 jumped 10.85 per cent YoY to Rs 3,008 crore. READ MORE

Exxaro Tiles IPO :: Avoid

Exxaro Tiles Ltd. (ETL), is coming up with an IPO to raise up to Rs. 161cr, which opens on 4th Aug. and closes on 6th Aug. 2021. The price band is Rs. 118 - 120 per share.

At higher price band of Rs. 120, the company is demanding a P/E valuation of 35.3x (to its restated FY21 EPS of Rs. 3.4). Considering the RoE of 5.6%, the demanded valuation seems to be highly stretched. There are already much better established peers in the listed space, which an investors can consider for investment. This we are assigning an “AVOID” rating for the issue.

Risk and concerns:
• Subdued economic activities especially, real estate sector
• Unfavorable movements in the raw material prices
• Working capital intensive business
• Rise in interest rates
• Competition

Source: Choice Broking

Windlas Biotech :: Subscribe for Long-term

Pharmaceutical formulations contract developer and manufacturer Windlas Biotech Ltd. (WBL), is planning to raise up to Rs. 400 crore through an IPO, which opens on 4th Aug. and closes on 6th Aug. 2021. The price band is Rs. 448 - 460 per share.

WBL is focusing on formulation CDMO and there is no peer company focusing solely on the CDMO model. At higher price band of Rs. 460, the company is demanding a P/E valuation of 26.6x (to its restated FY21 EPS of Rs. 17.3). Considering its return ratios and profitability, the issue seems to be fully priced. But factoring the growth drivers of the CDMO sector and opportunities available for the company, we assign a “Subscribe for Long Term” rating for the issue.

Source: Choice Broking

Krsnaa Diagnostics IPO :: Should you subscribe?

Krsnaa Diagnostics Limited is one of the largest differentiated diagnostic service providers in India. Company provides a range of technology-enabled diagnostic services such as imaging (including radiology), pathology/clinical laboratory and tele-radiology services to public and private hospitals, medical colleges and community health centres pan-India.

The company has strong business operations, which are reflected in its financials. It has exhibited a strong 37.65% CAGR on the sales front over FY2019-21, predominantly led by volumes and partially on the back of pricing.

The company is available at the upper end of the IPO price band at 77.7x its FY21 earnings, with a market cap of Rs. 29,941 million. Further on FY21 earnings basis the company is trading below the Industry average of 85.99x. We believe that strong balance sheet position and healthy operating cash flows will enable them to pursue growth opportunities and also fund their strategic initiatives. Hence, we recommend a “Subscribe” on the issue.

Views by: Anand Rathi Shares and Stock Brokers

Bulk deals on the BSE as on Tuesday

Bulk deals on the NSE as on Tuesday

FIIs turned net buyers on Tuesday

NEWS ALERT :: Angel Broking's client base rises 8% MoM in July

Rupee check

Source: Bloomberg

Oil check

Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures declining 0.39% to $72.13 per barrel. U.S. crude futures shed 0.54% to $70.18 per barrel.

SGX Nifty update

>> The index was ruling 76 points higher at 16,241 levels at 8:19 AM

S&P500 ends at closing high

Wall Street posted a strong show, with S&P ending 0.82 per cent higher at its new record close. Dow Jones added 0.8 per cent and the Nasdaq 0.55 per cent. 

Asian markets mixed

Asian shares were steady as China's clampdown and spread of Delta Covid-19 variant restrained sentiments. Japan's Topix index fell 0.4 per cent, Australia's S&P/ASX added 0.1 per cent and Hong Kong Hang Seng declined 0.2 per cent. S&P futures, meanwhile, shed 0.2 per cent and Nasdaq 0.1 per cent.

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