Top leaders at the World Bank and the International Monetary Fund had on Monday warned of a growing risk of a global recession.
In domestic trading, the Nifty’s automobile index and energy index fell 0.57% and 0.26%, respectively, while the IT index gained 0.52%.
Tata Consultancy Services Ltd swayed between losses and gains, after the IT major said it was seeing some softness in long-term deal decision making, though it reported a bigger-than-expected rise in quarterly profit on Monday.
IT service provider Infosys climbed 0.5% after it said late on Monday it will consider a proposal for share buyback on Thursday when it is scheduled to report its quarterly earnings.
Meanwhile, a Reuters poll found India’s retail inflation accelerated to a five month high of 7.30% in September due to surging food prices, staying well above the Reserve Bank of India’s tolerance band for a ninth month.
The data is due after market hours on Wednesday.
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Market Live Updates: Cummins Inc makes open offer to buy up to 26% stake in Automotive Axles; Cummins Inc’s open offer for Automotive Axles at Rs 1,504.43/share (Source: Exchange filing, Reuters)
Price as on 11 Oct, 2022 10:28 AM, Click on company names for their live prices.
Bond yields rise as 10-year U.S. yield nears 4%
ndian government bond yields were trading higher on Tuesday, tracking the relentless rise in U.S. yields as the 10-year yield inched closer to 4.00%.The benchmark Indian 10-year government bond yield was at 7.4816% as of 0435 GMT. The yield hit 7.5316% earlier in the day. It ended at 7.4758% on Monday, having risen by an aggregate 12 basis points in the last three sessions.
Top gainers in the IT software services pack
Price as on 11 Oct, 2022 10:11 AM, Click on company names for their live prices.
We had gone in yesterday having set a couple of milestones to confirm the 18100 trajectory. Of them, the close above 17160 is very encouraging, but we fell agonizingly short of seeing the17300 mark. We will keep faith in the recent patterns seeing them as bullish continuation, and look for 17500, should 17300 be reclaimed. Inability to float above 17160 may force us to abandon upside views, but will hope 16982 to mount a last defence beforea 16400 down move sets sail.
– Anand James – Chief Market Strategist at Geojit Financial Services
Market Live Updates: Rategain Travel Technologies selected by Royal Orchid Hotels for real time pricing insights and better connectivity
Price as on 11 Oct, 2022 09:50 AM, Click on company names for their live prices.
Sobha Q2 sales value up 13% YoY
- Q2 sales value Rs 1,164 crore, up 13% YoY
- Q2 average price realization Rs 8,709/sft, up 14% YoY
India’s largest software services exporter Tata Consultancy Services or TCS on Monday reported an 18% YoY growth in its revenue at Rs 55,309 crore for the quarter ended September 2022. Its net profit increased 8.4% YoY to Rs 10,431 crore.
Price as on 11 Oct, 2022 09:29 AM, Click on company names for their live prices.
Infosys to consider buyback with Q2 results on October 13
Price as on 11 Oct, 2022 09:26 AM, Click on company names for their live prices.
Look, which sectors are falling & rising in opening deals
Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The Q2 results season has started off well with decent numbers from TCS which have beaten street estimates on most parameters. This and the news of buy back from Infosys will impart resilience to the IT segment. Financials too will come out with good numbers imparting strength to the market in the near-term.
OPENING BELL: Sensex sheds 130 points, Nifty below 17,250; India Cements falls 4%, Inox Wind rises 3%
Pre-open session: Sensex rise over 50 points; Nifty above 17,255
Asian shares slip following drop in US equities
Shares declined in Asia following a fourth straight drop in US equities amid persistent concern that rising interest rates and geopolitical threats will crimp global growth. Japan’s Topix index dropped 1.4% while South Korea’s Kospi index declined 2%.
SGX Nifty signals a muted start
Nifty futures on the Singapore Exchange traded 11.5 points, or 0.07 per cent, higher at 17,239.5, signaling that Dalal Street was headed for a muted start on Tuesday.
Quarterly earnings today
Delta Corp, GM Breweries, Trident Texofab, AAA Technologies, Gujarat Hotels and Supreme Infrastructure are among companies that will announce their quarterly earnings today.
Tech View: Buying at lower levels cheering Nifty bulls.
The overall structure shows that the index is likely to witness consolidation in the range of 17,000-17,500 in the coming sessions. Indicators such as RSI and MACD are indicating neutral views as of now in the daily chart.
Tokyo stocks open lower extending US falls
Tokyo stocks opened lower on Tuesday after a long weekend, tracking falls on Wall Street as investors braced for more large interest rate hikes from the US Federal Reserve.
Nasdaq registers lowest close since July 2020; chips stocks fall
U.S. stocks fell on Monday, with the Nasdaq posting its lowest close since July 2020, as investors worried about the impact of higher interest rates and pulled out of chipmakers after the United States announced restrictions aimed at hobbling China’s semiconductor industry.
Oil prices slide as dollar strengthens, China COVID-19 woes dampen demand
Oil prices fell on Tuesday, extending nearly 2% losses in the previous session, as a stronger U.S. dollar and a flare-up in COVID-19 cases in China increased fears of slowing global demand. Brent crude futures fell 57 cents, or 0.6%, to $95.62 a barrel by 0031 GMT, after falling $1.73 in the previous session.
Rupee drops 10 paise to close at all-time low of 82.40 per USD
The rupee slipped 10 paise to finish at a fresh lifetime low of 82.40 against the US dollar on Monday, weighed down by risk-averse sentiment among investors.
Sensex, Nifty on Monday
The 30-share Sensex fell 200 points to end at 57,991. Its broader peer, Nifty50, ended at 17,241, down 74 points.
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Read More: sensex today: Stock Market LIVE Updates: Sensex sheds 250 points, Nifty nears 17,200; IT