Market Bizzz

The benchmark 10-year yield ended at 7.3627%, after closing at 7.3432% on Thursday. The yield rose by eight basis points (bps) this week, the biggest such move since the week ended Sep. 23, 2022. It had dropped 11 bps last week

US stock indexes ended lower on Thursday, erasing earlier gains as Treasury yields rose after an auction of 30-year bonds went poorly and overshadowed strong earnings from corporate giants like Disney and PepsiCo.

Food delivery giant Zomato’s net loss widened to Rs 347 core compared with a loss of 63 crore a year ago. Consolidated revenue from operations surged 75% on year to Rs 1,948 crore.

While analysts retained their bullish calls on Adani Ports, they cut price targets after the company reported a 16% year-on-year drop in consolidated net profit for three months ended December 2022.

They have also been concerned about mixed reports from U.S. companies this earnings season. With results in from more than half of the S&P 500 companies, earnings still are expected to have declined year-over-year in the fourth quarter of 2022, according to IBES data from Refinitiv.

The message that Das left Wednesday may appear muddled, but a closer look would tell you that he’s done with interest rate increases for now, barring dramatic developments.