The Indian stock market is expected to open on a cautious note as trends on SGX Nifty indicate a positive opening for the index in India with a 17-points gain.
The market ended lower due to profit-booking in the final hour of the trade on October 27, snapping two days of gains. Sensex was down 206.93 points, or 0.34 percent, at 61,143.33, and the Nifty was down 57.40 points, or 0.31 percent, at 18,211.
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:
The Nasdaq ended little changed on Wednesday, boosted by gains in Microsoft and Google parent Alphabet on the heels of their quarterly results, but a drop in oil prices and a pullback in Treasury yields weighed on cyclical sectors and pulled the S&P 500 lower.
The Dow Jones Industrial Average fell 266.19 points, or 0.74%, to 35,490.69, the S&P 500 lost 23.11 points, or 0.51%, to 4,551.68 and the Nasdaq Composite added 0.12 point, or unchanged, to 15,235.84.
Shares in Asia-Pacific declined in Thursday morning trade as investors await the Bank of Japan’s latest monetary policy announcement.
The Nikkei 225 in Japan declined 1.2% in early trade while the Topix index shed 1.13%. Retail sales in Japan fell 0.6% in September from a year earlier, according to government data released Thursday.
Trends on SGX Nifty indicate a cautious opening for the index in India with a 17-points gain. The Nifty futures were trading at 18,229 on the Singaporean Exchange around 07:30 hours IST.
Japan's Sept retail sales decline for a second month
Japan’s retail sales fell for a second month in September as consumers limited spending amid concerns over the coronavirus pandemic, reinforcing expectations the world’s third-largest economy stalled in the third quarter.
Retail sales in September slipped 0.6% from the same month a year earlier, government data showed on Thursday, better than economists’ median forecast for a 2.3% decline in a Reuters poll. It followed a 3.2% dip in August that marked the first year-on-year decline in six months.
Oil drops more than 1% as US stockpiles rise sharply
Oil prices fell on Wednesday after US crude oil stockpiles rose more than expected, even as fuel inventories dropped and tanks at the nation's largest storage hub emptied further.
Brent oil futures ended down $1.82, or 2.1%, to $84.58 a barrel, after closing at a seven-year high on Tuesday. U.S. West Texas Intermediate (WTI) crude settled down $1.99, or 2.4%, to $82.66 a barrel.
The country's foreign exchange reserves surged by $58.38 billion in April-September 2021 to $635.36 billion, says an RBI report released on Wednesday. The forex reserves were at $576.98 billion at end-March 2021.
The Reserve Bank of India (RBI) publishes half-yearly reports on management of foreign exchange reserves. These reports are prepared half yearly with reference to the position as at end-March and end-September each year.
Softbank-backed mobile payments firm Paytm's Rs 18,300 crore initial public offering will happen between November 8 and 10 at a price band of Rs 2,080-2,150 per share, according to sources privy to the development. This is touted to be India’s largest market debut, a record that was previously held by Coal India, which raised Rs 15,000 crore over a decade ago.
The company which was earlier planning to raise Rs 16,600 crore revised the amount to Rs 18,300 crore following an increased investor interest. While the primary will continue to be Rs 8,300 crore, the additional amount will go to the offer for sale taking the overall sum to Rs 10,000 crore.
Bajaj Finserv, NTPC, Tata Power, DLF, InterGlobe Aviation, Marico, RBL Bank, AAVAS Financiers, Adani Green Energy, APL Apollo Tubes, Adani Total Gas, AU Small Finance Bank, Blue Star, CarTrade Tech, Chalet Hotels, Chemcon Speciality Chemicals, Dishman Carbogen Amcis, Edelweiss Financial Services, Gujarat Gas, HSIL, Indian Bank, Infibeam Avenues, JK Tyre & Industries, Laurus Labs, Mahindra & Mahindra Financial Services, Motilal Oswal Financial Services, Reliance Infrastructure, SBI Cards and Payment Services, Sudarshan Chemical Industries, UCO Bank, UTI Asset Management Company, Welspun Corp, and Westlife Development
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 1913.36 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 472.48 crore in the Indian equity market on October 27, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Four stocks - Indiabulls Housing Finance, Canara Bank, NMDC and Sun TV Network - are under the F&O ban for October 28. 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 agencies