The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with a 48 points loss.
The BSE Sensex rose 383.21 points, or 0.63 percent, at 61,350.26 on October 26 and the Nifty was up 143 points, or 0.79 percent, at 18,268.40. All the sectoral indices ended higher, with auto, infra and metal indices up 1-2.5 percent.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
US Markets
Gains in Tesla, Nvidia and other heavyweight technology names helped the benchmark S&P 500 index scale a record high on Tuesday, while upbeat results from UPS and GE added to optimism around the third-quarter earnings season.
The Dow Jones Industrial Average was up 125.39 points, or 0.35 percent, at 35,866.54 to hit a record high. The S&P 500 was up 24.64 points, or 0.54 percent, at 4,591.12, and the Nasdaq Composite was up 94.73 points, or 0.62 percent, at 15,321.44.
SGX Nifty
Trends on SGX Nifty indicate a negative opening for the index in India with a 48 points loss. The Nifty futures were trading at 18,285 on the Singaporean Exchange around 07:30 hours IST.
China industrial profit growth accelerates in Sept despite cost pressures
Profits at China’s industrial firms rose at a faster pace in September even as surging raw material prices and supply bottlenecks squeezed margins and weighed on factory activity.
Profits jumped 16.3 percent on-year to 738.74 billion yuan ($115.72 billion) the statistics bureau said on Wednesday, quickening from the 10.1 percent gain reported in August.
RBI imposes monetary penalty on two cooperative banks
The Reserve Bank of India (RBI) on 26 October imposed monetary penalties on two cooperative banks for various rule violations. These two banks are Vasai Vikas Sahakari Bank, Maharashtra and the Citizens Urban Co-operative Bank Ltd., Jalandhar, Punjab.
A penalty of Rs 7 lakhs was imposed on Citizens Urban Cooperative Bank for violation of norms related to income recognition, asset classification, provisioning. Also, a penalty of Rs 90 lakhs was imposed on Vasai Bank on similar violations, the RBI said.
US consumer confidence rebounds; house price growth likely peaked
US consumer confidence unexpectedly rose in October as concerns about high inflation were offset by improving labor market prospects, suggesting economic growth was picking up after a turbulent third quarter.
The consumer confidence index increased to a reading of 113.8 this month from 109.8 in September, ending three straight monthly declines. The measure, which places more emphasis on the labor market, remains below its peak of 128.9 in June. The rise contrasted with the University of Michigan's survey of consumers, which showed sentiment falling early this month.
Results today
Larsen & Toubro, ITC, IndusInd Bank, Bajaj Auto, Titan Company, Lupin, Maruti Suzuki India, Punjab National Bank, SBI Life Insurance Company, Zee Entertainment Enterprises, Aarti Drugs, Adani Enterprises, Adani Ports and Special Economic Zone, Aegis Logistics, Apollo Tricoat Tubes, Arvind, Asahi India Glass, Astec Lifesciences, Balaji Amines, Cummins India, Dalmia Bharat, Deepak Nitrite, Exxaro Tiles, Geojit Financial Services, Greenpanel Industries, Happiest Minds Technologies, IIFL Finance, IIFL Wealth Management, India Grid Trust, Indian Overseas Bank, JK Paper, KEC International, KPR Mill, Lakshmi Machine Works, Mahindra Logistics, Phillips Carbon Black, Poonawalla Fincorp, PSP Projects, Ramco Systems, Raymond, Reliance Power, Shriram City Union Finance, SKF India, Sona BLW Precision Forgings, Tata Chemicals, Tube Investments of India, Torrent Power, TTK Prestige, United Breweries, United Spirits, and Welspun India.
Gold falls
Gold prices snapped five straight sessions of gains, shedding nearly 1 percent as the dollar firmed and strong earnings lowered investor appetite for the safe-haven asset. Spot gold was down 0.85 percent at $1,792.449 per ounce, while the U.S. gold futures for December delivery settled down 0.7 percent to $1,793.40 per ounce.
Dollar edges up in steady markets
The US dollar edged up on Tuesday in narrow-range trading as markets awaited news from upcoming central bank meetings that might spark volatility.
Analysts said the dollar might continue to hold steady pending a slew of central bank meetings and economic data that could shift views on interest rates, inflation and growth rates.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 2368.66 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 1385.41 crore in the Indian equity market on October 25, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Six stocks - Canara Bank, Indiabulls Housing Finance, Indian Energy Exchange, NMDC, SAIL, and Sun TV Network - are under the F&O ban for October 27. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
With inputs from Reuters & other agenciesTop 10 things to know before the market opens - Moneycontrol.com
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