Markets at 10 AM
LIVE market updates: Benchmark indices are holding on to their morning gains and are trading 0.5 per cent higher. The BSE Sensex was at 60,246 levels, up 326 points, while the Nifty50 quoted at 17,979 at 10:05 AM.
The broader markets, however, are underperforming the benchmarks with, both, mid and smallcap indices on the BSE trading 0.2 per cent up.
Clocking a tepid show, however, were shares of Fino Payments Bank that listed on the bourses at a 6 per cent discount. They debuted at Rs 544 apiece on the National Stock Exchange, down 5.6 per cent, against the issue price of Rs 577 per share.
On the results front, shares of Induabulls Housing Finance were down 4 per cent on the BSE after the company reported an 11 per cent dip in its net profit at Rs 286 crore in the quarter ended September due to a decline in its loan book
Sectorally, Auto, Media, and PSB indices have erased their gains and are now down 0.2 per cent.
Sun Pharma, Kotak Bank, Nestle India, Tech M, Infosys, and HDFC were the other top gainers on the Sensex.
Meanwhile, in the broader market, the BSE MidCap and SmallCap indices added up to 0.65 per cent.
Sectorally, all the Nifty indices were trading in the positive zone led by Metal index (up 0.8 per cent), and IT, PSB, and Realty indices (up 0.5 per cent each).
LIVE market updates: After 3 days of bear hammering, market bulls are back on Dalal Street. The BSE Sensex is at 60,247 levels, up 327 points in the pre-open session while the Nifty50 was up 104 points at 17,977.
Updated at 8:20 AM
LIVE market updates: The Indian equities look set to snap their 3-day losing streak if indications by SGX Nifty are anything to go by. At 8:17 AM, the index was at 17,973 levels, up 47 points.
This comes amid positive cues from Asian peers. Nikkei and Hang Seng were up 0.9 per cent and 0.7 per cent, respectively. Kospi had surged 1.3 per cent, while Taiwan and Straits Times added 0.3 per cent and 0.2 per cent each. China’s Shanghai Composite, however, was flat.
Overnight, however, the US markets had ended on a mixed note. The S&P 500 and Nasdaq moved up 0.1 per cent and 0.5 per cent, respectively. Dow Jones, however, was down 0.4 per cent.
Back home, the industrial and manufacturing production data along with inflation numbers could dictate the market trend on Friday.
Earnings to watch
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Primary Market Update
Latent View Analytics was subscribed 23x at the end of Day 2 of the issue, with the retail quota getting subscribed 70x. Meanwhile, Sapphire Foods IPO closed with a total subscription of 6.6x.