Live market update: The benchmark indices may start the holiday-shortened week on a quiet note as per the indications from SGX Nifty futures. The Nifty was down 10.50 points at 17,909 around 8.20 am.
The focus this morning shall be on TCS, after the company in announced its earnings on Friday after the market hours. According to Bloomberg estimates, the IT major missed both the top line and margin growth estimates. The company reported net profit for the quarter ended September 2021 at Rs 9,624 crore, up 14.1 per cent year-on-year while revenue grew 16.8 per cent YoY to Rs 46,867 crore.
Apart from that, the focus will also be on the listing of Aditya Birla Sun Life AMC at 10 AM today. The IPO was subscribed 5.25 times and the issue price has been fixed at Rs 712 per share.
On Friday, the US markets ended on a tepid note with Nasdaq down 0.5 per cent, and S&P 500 index down 0.2 per cent. Dow Jones ended nearly unchanged.
The Asian markets have started the week mostly on a positive note. Hang Seng has rallied 2 per cent, while Nikkei has jumped 1.6 per cent. China’s Shanghai Composite and Straits Times advanced 0.3 per cent. However, the S&P/ASX 200 has declined 0.5 per cent, and KOSPI was down 0.1 per cent.
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