MARKETS: Sensex tumbles 550 pts; PSBs, metals crack; VIX climbs 4.5%

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Markets at 10 AM

LIVE market updates: Indian equities extended their decline were trading near the day’s low in morning deals. The BSE Sensex, which touched a low of 60,680 earlier today, was quoting at 60,724 levels, down 419 points at 10:11 AM.

The broader 50-share Nifty index, on the other hand, was testing 18,050 level at 18,072.

23 of the 30 Sensex constituents and 40 of the 50 Nifty constituents were in the red. Individually, Adani Ports tanked 6 per cent and was the top loser on the Nifty index. This was followed by Hindalco, ONGC, Titan, ITC, Coal India, and ICICI Bank.

Limiting the downside, however, were shares of IndusInd Bank (up 5 per cent), L&T, UltraTech Cement, Bajaj Auto, and M&M.

Shares of IndusInd Bank surged 6.4 per cent to Rs 1,214.90 on the BSE in Thursday’s intra-day trade after the bank posted steady operational performance for the quarter ended September 2021 (Q2FY22), with net interest income (NII) rising by 11.6 per cent year-on-year (YoY) and 2.7 per cent quarter-on-quarter (QoQ) to Rs 3,658 crore on the back of stable margins and sequential pick up in loan growth. READ MORE

On the upside, shares of Indian Railway Catering and Tourism Corporation (IRCTC) rallied 15 per cent to Rs 949.65 on the BSE in Thursday’s intra-day trade after the scrip turned ex-stock split (sub-division of equity shares) in ratio of 1:5. READ HERE

In the currency market, the rupee opened higher at 74.95 per US dollar relative to Wednesday’s close of 75.03/$

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Opening Bell

LIVE market updates: Benchmarks started in the negative territory on Thursday, ahead of the monthly F&O expiry later today. In early deals, the BSE Sensex was at 60,962 levels, down 181 points or 0.3 per cent led dragged by Titan, ICICI Bank, and ITC.

It’s NSE counterpart Nifty50, on the other hand, was at 18,139 levels, down 72 points or 0.4 per cent.

In the broader markets, the BSE MidCap and SmallCap indices slipped up to 0.34 per cent.

Among individual stocks, shares of ITC dipped 2 per cent after the cigarette-to-hotels major reported a 10.09 per cent YoY increase in consolidated profit at Rs 3,763.73 crore in the September quarter of FY22, led by a recovery across segments.

Meanwhile, those of Titan shed 4 per cent after the jewellery firm’s net profit jumped 270.5 per cent to Rs 641 crore in Q2FY22 when compared to Rs 173 crore during the same period last year at a consolidated level, riding on recovery in demand across its consumer businesses.

Shares of IndusInd Bank, and L&T were up 4 per cent and 1.3 per cent, respectively on the back of Q2 results.

Sectorally, all except the Nifty Healthcare index were trading in the red led by the Nifty PSU Bank index (down 2.4 per cent) and the Nifty Metal index (down 2 per cent).

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Pre-open session (Updated at 9:07 AM)

LIVE market updates:

Pre-open session is indicating a negative start for the benchmark indices. The BSE barometer of 30-shares is down 61 points at61,083 levels while the Nifty50 is at 18,187 levels, down 23 points.

IndusInd Bank, Titan, and L&T were the top Sensex gainers in pre-open session.

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Updated at 8:10 AM

LIVE market updates: Expiry of the October F&O series, along with the on-going corporate results season, is expected to keep the secondary markets volatile on Thursday.

Around 150 companies including Bajaj Finserv, CarTrade Tech, DLF, InterGlobe Aviation, JK Tyre, Marico, NTPC, Tata Power, SBI Card, and Westlife Development are slated to report their Q2 results today.

Nykaa IPO opens today

The much awaited Rs 5,320-crore IPO by Nykaa will open for subscription in a price band of Rs 1,085 – Rs 1,125 per share.

While most analysts recommend subscribing to the issue from a long-term perspective, they do caution against the valuation and online segment that the company operates in.

Global cues

Shares in Asia-Pacific were mixed in Thursday trade as investors await the Bank of Japan’s latest monetary policy announcement.

The Nikkei 225 in Japan declined 0.88 per cent while the Topix index shed 0.65 per cent. Mainland Chinese stocks were also lower, with the Shanghai composite slipping about 0.6 per cent. Hong Kong’s Hang Seng index climbed 0.24 per cent.

Elsewhere, South Korea’s Kospi traded 0.24 per cent higher. Shares in Australia declined as the S&P/ASX 200 fell 0.26 per cent. Meanwhile, SGX Nifty was up just 4 points at 18,215 levels at 8:08 AM.

Overnight stateside, the Dow Jones Industrial Average dropped 266.19 points to 35,490.69 while the S&P 500 slipped about 0.51 per cent to 4,551.68. The Nasdaq Composite was flat at 15,235.84.

Brent crude futures

Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures slipping 2.12% to $82.79 per barrel. U.S. crude futures declined 1.9% to $81.09 per barrel.

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