Stock Market Today Live: Indian stocks rose in early trading Friday, with gains in bank stocks countering losses in metals as investors weighed mixed signals from global equities amid earnings reports and expectations of a slower pace of rate hikes from major central banks.
The public sector Nifty index was up more than 1%, while the metals index, which closed 2.7% higher in the previous session, fell 1%.
Top automaker Maruti Suzuki and pharmaceutical company Dr. Reddy’s Laboratories Ltd were up 1.2% and 0.3% respectively, ahead of their quarterly results later in the day.
Foreign institutional investors netted 28.18 billion Indian rupees ($342.12 million) worth of shares on Thursday, while domestic investors sold 15.80 billion rupees worth of shares, according to preliminary data available from the National Stock Exchange.
In broader stocks, Asian stocks fell on Friday and were set to go through a three-day winning streak, while US stocks were mixed at the close on Thursday as investors balanced mixed earnings reports and economic data.
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The Reserve Bank of India is likely to retire its official Yogesh Dayal from the board of RBL Bank Ltd before the expiration of his term after a forensic audit found no major red flags regarding the bank’s underperforming assets, the Hindu reported BusinessLine. sources.
Price on Oct 28, 2022 11:00 am, click on company names for their live prices.
Nykaa shares tank another 7% amid a technical defeat on Wall Street. Is the worst behind?
Despite bullish target prices set by brokers, shares of fashion and beauty products e-tailer FSN E-Commerce Ventures which Nykaa runs continued their downfall on Friday. The stock plunged 7% to dip below the mark of Rs 1,000 for the first time and hit a record low of Rs 975.50. New age shares that nearly doubled on listing day on Nov. 10 last year are now down about 62% from a 52-week high at Rs 2,574.
Uday kotak: Is the stock market a platform for discovering fair prices and a capital provider for the economy, or a casino roulette?
Facebook Meta fell another 25% yesterday. Amazon stocks may follow today. Is the stock market a platform for f… https://t.co/UxIMCQVMDc
— Uday Kotak (@udaykotak) 1666925481000Indus Towers shares plunge as Voda Idea’s troubles hit Q2
Indus Towers shares fell more than 3% on BSE Friday morning, a day after the telecom tower company said it had provisioned Rs 1,770.9 crore for bad debt in its fiscal second quarter—a strong sequential increase of 43% — as the telecom infrastructure provider has yet to receive payment from a key customer. The customer is assumed to be Vodafone Idea (Vi). Indus Towers shares then traded at Rs 187.85, down 1.65% on the BSE.
WATCH: What can you expect from Vedanta’s earnings?
#EarningsWithETNOW | Vedanta is all set to release its Q2FY23 earnings today, @Ashesha_A tells us what to expect… https://t.co/Mvr9bz9F46
— ET NOW (@ETNOWlive) 1666924456000Market live updates: Sensex expands profit, rises 300 pointsSBI Cards and Payment Services reported a 52.4% increase in second-quarter earnings on Thursday as it spent more credit cards and Indians spent more on the holiday season.
Price on Oct 28, 2022 10:26, Click on company names for their live prices.
Rupee gains 4 paise to 82.29 against the US dollar
Against the US dollar, the rupee appreciated 4 paise to 82.29 on Friday, supported by a weak greenback in the overseas market and positive domestic stocks. New inflows of foreign capital into the capital markets also bolstered sentiment, forex traders said. On the interbank foreign exchange, the domestic unit opened weakly at 82.39 against the dollar, then gained to trade at 82.29, registering a 4 paise increase from the previous close.
Elon Musk responds after Twitter takeover
@elonmusk so can we say it now?
— Stonetoss Comics (@stone_toss) 1666931652000Bitcoin has $20,000; Shiba Inu & Cardano tank up to 5%
Bullish exhaustion has now had two days of downsides, but each of them has wiped out once in the mid-17600s, suggesting a higher swing is imminent. The upper range is tentatively seen as 17900, but the momentum for the 18100 move seems to be lacking. Alternatively, the inability to soar above 17900 or an outright attack on 17700s could pave the way for 17400.
– Anand James – Chief Market Strategist at Geojit Financial Services
Tata Chemicals Ltd on Thursday reported second-quarter profits that nearly tripled, helped by strong performance in the basic chemicals segment. That said, the stock fell 4%.
Price on Oct 28, 2022 09:39, Click on company names for their live prices.
The short-term market construction is clearly ‘benefit bulls’. There are many factors in favor of the bulls, such as strong third quarter GDP data (2.6%) in the US, easing fears of a recession, indications of falling inflation and the expectation that the Fed will hike rate hikes in the first. quarter of 2023. In India, while valuations seem high from a short-term perspective, there are favorable factors that could push the market higher. The main positive is the drop in the US 10-year yield below 4%, which will convince FPIs to buy rather than sell in the short term. The encouraging Q2 results will provide fodder for the bulls. Nifty is already up 6% in October and the trend looks set to continue. The resilience of banking, select cars, capital goods and telecoms could continue.
– dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Price on Oct 28, 2022 09:28, Click on company names for their live prices.
Opening Bell: Sensex gets 200 points, conveniently close to 17,800; Tata Chem drops 4%, Nestle adds 1%Pre-open session: Sensex 10 points lower; Conveniently under 17,760 INDIAN RUPEE OPEN 0.12% AT 82,3900 PER US DOLLAR; PREVIOUS CLOSE 82.4900Asian stocks fall, yen stable ahead of Bank of Japan meeting
Asian stocks fell lower Friday as investors grappled with mixed earnings reports, while the Japanese yen remained steadfast ahead of the Bank of Japan’s policy review. MSCI’s broadest index of Asia-Pacific stocks outside of Japan fell 0.32%, marking a three-day winning streak. The index is down nearly 3% for the month and 30% for the year.
Quarterly figures today
Maruti Suzuki, Vedanta, Dr. Reddy’s Laboratories, Tata Power Company, JSW Energy, Bandhan Bank, Blue Dart Express and Carborundum Universal are among the companies to release their quarterly results today.
SGX Nifty signals a positive start
Handy futures on the Singapore Exchange traded 49.5 points, or 0.28 percent, higher at 17,852, indicating Dalal Street was off to a positive start on Friday.
Tech View: Nifty ends October series with an Inside Bar
As Nifty finished F&O’s monthly maturity 81 points higher, the headline index formed an Inside Bar on the daily scale. The hourly chart shows the index has been distributing below the main Fibonacci retracement at 17,800 for the past few sessions, analysts said.
Tokyo stocks open lower with a look at BoJ
Tokyo shares opened lower on Friday after falls in US technology stocks, with investors’ eyes focused on a policy decision from the Bank of Japan expected later in the day. The benchmark Nikkei 225 index fell 0.92 percent or 250.72 points to 27,094.52 in early trading, while the broader Topix index fell 0.54 percent or 10.26 points to 1,895.30.
US equities mixed
The S&P 500 and Nasdaq posted losses on Thursday as investors struggled with solid economic data and a mixed bag of corporate earnings.
Oil prices fall as dollar rises
Oil prices fell in early trading on Friday on a stronger dollar, but were on track for a weekly gain on worries about tighter supply with the imminent cessation of imports from Russia into Europe.
Rupee rises 48 paise to close at 82.33 against US dollar
The rupee appreciated 48 paise and closed at 82.33 against the US dollar on Thursday as the greenback pulled back from its elevated levels.
Sensex, Nifty on Thursday
The 30-stock Sensex finished 213 points higher at 59,757, while its wider counterpart, Nifty50, finished above 17,700.
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