Thursday , October 6 2022

LIVE MARKETS: Sensex down 200 pts, Nifty below 10,550; auto, PSU banks slips


Benchmarking indexes trade around 0.5 percent less of weakness in Asian markets and the rise in global oil prices.

The airline is trading on a weak note on Monday slipping under the 73-dollar US mark to hit 73.05 so far in internal commerce, down from the last closest of 72.49 against the green.

Amongst the sector indexes, the Nifty PSU Bank index trades over 1.5 per cent lower of Oriental Trade Weights. The Nifty Auto index also trades around 1.5 per cent lower under the guidance of Tata Motors. However, the Nifty IT index is trading over 1 per cent higher, led by an increase in Tech Mahindra, Infosys and Tata Consultancy Services (TCS) sharing prices.

Titan Company trades over 3 percent higher after the company has indicated an increase of 8.34 per cent in consolidated net profits at the U.S. 301.11 for the quarter ending September 30, 2018, after being dragged by provisions made for corporate deposits in the IL & FS group. Total income during the quarter under review was £ 4,595.13 crore. He had 3,253.01 crore in the last corresponding period.

Amongst the key results, Coal India, Britannia, Jet Airways, Aurobindo Pharma, Eicher Motors and Shree Cement are likely to publish their results on the quarter of September later in the day.

Macro ahead, retail inflation (CPI) for October, India's industrial production data (IIP) for September, as well as manufacturing output data for September will be released later today. WPI data is disclosed for October on November 14. Apart from this, imports, exports and commercial commerce data are likely to be released on November 15.

Global Markets

Asian shares came down lower on Monday as signs of softening demand in China re-express anxiety about the prospects for world growth, but Saudi Arabia plans to reduce the work to help prevent slides in oil prices .

The widest MSCI index of Asia-Pacific shares outside Japan decreased by 0.07 per cent, cutting earlier losses on bouncing in Chinese shares, but finding it difficult to break into a positive territory. Australian shares added 0.13 percent, while the Nikkei Japan stock index earned 0.11 percent.

Prices of oil

Brent crude oil prices dropped 2 per cent on Monday after the highest exporter, Saudi Arabia, announced a supply cut in December, which is a measure that was likely to aim to prevent the market that dropped by 20 per cent since the beginning of October.

The frontier Brent's future, a benchmark for global oil prices, was $ 71.59 per barrel, up 2 percent of its final end. United States Texas Intermediate (WTI) raw future rose 1.5 percent to $ 61.08 per barrel.

(with Reuters input)

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