Markets at 10 AMLIVE market updates: Benchmark indices were trading near the day’s low level as selling in IT, financials, and pharma stocks weighed on sentiment.
The S&P BSE Sensex was at 59,928 level, down 420 points, while the Nifty50 slipped below the 17,900-mark. 25 of the 30 Sensex constituents and 42 of the 50 Nifty constituents were trading in the red.In the broader markets, the MidCap and SmallCap indices reversed course on the BSE and were now down 0.2 per cent each.Shares of Narayana Hrudayalaya hit a new high of Rs 620, surging 13 per cent on the BSE in Thursday’s intra-day trade after the company reported consolidated net profit of Rs 99.4 crore in September quarter (Q2FY22), on the back of healthy operational performance. READ MOREIn the currency market, rupee opened weaker at 74.44 per US dollar relative to Wednesday’s close of 74.38/$.============================================================Opening BellLIVE market updates: Frontline indices started lower for the third straight day on Thursday amid tepid global cues. The BSE Sensex was quoting at 60,133 levels, down 220 points or 0.36 per cent, in early deals dragged by Tech M, HDFC, ICICI Bank, HCL Tech, M&M, and Axis Bank.On the upside, Titan Company, Maruti Suzuki, Tata Steel, L&T, and NTPC were lending some support. All these stocks were up in the range of 0.2 per cent and 1.7 per cent.
It’s NSE counterpart, Nifty50, was down 75 points at 17,942 levels. In the broader markets, the BSE MidCap and SmallCap indices gained 0.05 per cent and 0.17 per cent, respectively.Among individual stocks, shares of Zomato surged 5 per cent in the intra-day trade on the BSE after the company said it will invest $50 million in e-commerce start-up Magicpin for 16 per cent stake as part of a total funding round size of $60 million.Those of YES Bank, meanwhile, gained 2 per cent after rating agency Moody’s upgraded private sector lender’s long-term foreign currency issuer rating from “B3” to “B2”.Birla Corp shares, on the downside, tanked 5 per cent after the company reported a consolidated net profit of Rs 85.5 crore during the September quarter of FY22 , down 49 per cent year-on-year (YoY) from Rs 166 crore last year, on the back of extended monsoon and a surge in its expenses.Sectorally, only the Nifty Metal, Media, and PSB indices were trading in the green, rising up to 0.5 per cent. Among the losers, the Nifty Bank, Private Bank, IT, Pharma, and Financial Services indices declined 0.6 per cent each.
==============================================================Pre-market sessionLIVE market updates: Frontline indices are likely to start flat with a negative bias on Thursday, the day of weekly F&O expiry, indicate trends during the pre-open session. The BSE Sensex was down 55 points at 60,298 levels while the Nifty50 was down 48 points at 17,969 levels at 9:08 AM. ===============================================================Updated at 8:20 AMLIVE market updates: The markets may start on a tepid note today as global cues are not so encouraging. The US markets declined for the second straight day on Wednesday amid inflation concerns as the Consumer Price Index jumped by 0.9 per cent, its fastest gain in 31 years. The S&P 500 and Dow Jones dropped 0.8 per cent and 0.7 per cent, respectively, while the Nasdaq plunged 1.7 per cent.In Asia, Nikkei was up 0.6 per cent, Shanghai Composite had added 0.3 per cent. On the other hand, Hang Seng and Straits Times were down 0.5 per cent each, while Kospi and Taiwan were down 0.7 per cent and 0.4 per cent, respectively.
Earnings to Watch
Aptech, Bajaj Hindusthan Sugar, CESC, Dredging Corporation, Engineers India, Godrej Consumer Products, Hindustan Construction, Indiabulls Housing Finance, IFCI, NDTV, NHPC, NLC India, NMDC, Novartis, Piramal Enterprises, PFC, PNB Gilts, PTC India, Railtel, RITES, Sundaram Fasteners, Tata Steel and Zee Entertainment are few of the major companies scheduled to report earnings today.
Primary Market Update
Latent View Analytics was subscribed 6.4x at the end of Day 1 of the issue. Meanwhile, today is the last day for subscription to the Sapphire Foods IPO. The issue so far was subscribed 1.07x, with retail quote receiving bids of 5.4x.