The stock markets open on higher levels on November 3 (Wednesday). The benchmark indices regained higher levels. The Nifty opened above 17,900 at the opening bell.
At 09:16 AM, the Sensex was up 268.70 points or 0.45 percent at 60,297.76. The Nifty was up 72.30 points or 0.40 percent at 17961.30. About 1,101 shares have advanced, 348 shares declined, and 92 shares are unchanged.
Bharti Airtel, SBI Life Insurance, NTPC, Tech Mahindra and Dr Reddy’s Labs were among major gainers on the Nifty. SunPharma, Titan, HDFC Bank, Hindustan Unilever were early losers on the bourses.
Wall Street indices close at record high on Tuesday
Wall Street’s main indexes rose on Tuesday to record highs as a strong earnings season continued to lift sentiment for equities, while investors were looking ahead to the outcome of a critical Federal Reserve meeting.
The Dow Jones Industrial Average rose 138.79 points, or 0.39 percent, to 36,052.63, the S&P 500 gained 16.98 points, or 0.37 percent, to 4,630.65 and the Nasdaq Composite added 53.69 points, or 0.34 percent, to 15,649.60.
Asia-Pacific shares mixed in early trade
Shares in Asia-Pacific were mixed in Wednesday morning trade as investors look ahead to the end of the US Federal Reserve’s two-day meeting for clues on tapering.
The S&P/ASX 200 in Australia jumped about 1.4 percent while that of Kospi declined 0.42 percent.
Auto sales hit
The twin impact of the chip shortage and subdued demand due the pandemic has hit retail automotive off-take making Diwali 2021 as the worst in a decade, according to the apex lobby body of automobile dealers.
While demand for cars and SUVs (passenger vehicles) has been robust, actual buys by the consumers have been much below desired levels because of depleted stock. On the other hand, demand for two-wheelers has been below expectations following the pandemic.
“This is the worst festive season which Indian auto retail has seen in the last decade,” Vinkesh Gulati, president of Federation of Automobile Dealer Association (FADA) said.
RBI governor meets PSU bank heads
The Reserve Bank of India's (RBI) Governor Shaktikanta Das met MDs & CEOs of public sector banks and certain private sector banks over a video conference on November 2, RBI said in a release. The meeting was attended by Deputy Governors M K Jain, M Rajeshwar Rao and T Rabi Sankar. The governor acknowledged the improvement in financial and operational resilience of the banking sector.
Das emphasised the need for banks to continue supporting the revival of economic activity. He advised banks to remain alert to any sign of vulnerabilities, and take timely remedial measures to mitigate risks and maintain stability.
China's services sector expands at faster pace in October
Activity in China's services sector expanded at a faster pace in October, buoyed by robust demand, although rising inflationary pressures weighed on business confidence for the year ahead, a private survey showed on Wednesday.
The Caixin/Markit services Purchasing Managers' Index (PMI) rose to 53.8 in October - the highest since July - from 53.4 in September. The 50-point mark separates growth from contraction on a monthly basis.
Oil pricess fall
Oil prices fell on Wednesday as industry data pointed to a big build in crude oil and distillate stocks in the United States, the world’s largest oil consumer, and as pressure mounted on OPEC to increase supply.
Brent crude futures fell by 98 cents, or 1.2 percent, to $83.74 a barrel by 0034 GMT, while US West Texas Intermediate (WTI) crude futures tumbled by $1.32, or 1.6 percent, to $82.59 a barrel.
Results today
State Bank of India, Eicher Motors, Aditya Birla Fashion and Retail, Bata India, DCM Shriram Industries, GPT Infraprojects, Grindwell Norton, Gujarat State Petronet, Gujarat Alkalies & Chemicals, Likhitha Infrastructure, Pfizer, RattanIndia Power, Sharon Bio-Medicine, and Uflex will release September quarter earnings.
Stocks under F&O ban
Two stocks - Punjab National Bank and Escorts - are under the F&O ban.
