The stock market indices opened in the red on Friday (October 29). At 09:16 AM, the Sensex was down 465.06 points or 0.78 percent at 59,519.64. The broader Nifty was down 132 points or 0.74 percent at 17,725.30. About 677 shares have advanced, 1051 shares declined, and 82 shares are unchanged.
NTPC, Sun Pharma, IndusInd Bank and Power Grid Corp were among major losers on the Nifty.
Nifty closed lower for the second straight day on October 28. In the process it fell the most in 6 months. At close, the Nifty was down 1.94 percent or 353.7 points to 17,857.25.
US stocks close higher
The Nasdaq hit a record high on Thursday, led by mega-cap companies - Apple, Amazon.com and Tesla, while solid results from Caterpillar and Merck helped investors shrug off signs of slowing economic growth.
The Dow Jones Industrial Average was up 137.92 points, or 0.39 percent, at 35,628.61, the S&P 500 was up 33.32 points, or 0.73 percent, at 4,585.00, and the Nasdaq Composite was up 165.59 points, or 1.09 percent, at 15,401.42.
Asian shares trade mixed
hares in Asia-Pacific were mixed as investors monitor stocks of Apple suppliers after the tech giant’s revenue miss. The Nikkei 225 in Japan climbed 0.12 percent while the Topix index hovered above the flatline. South Korea’s Kospi gained 0.57 percent.
Sebi's new framework for investment, trading in securities
Markets regulator Sebi on Thursday came out with a new framework for investment and trading in securities by employees of Asset Management Companies (AMCs) and trustees of mutual funds. The framework will help in avoiding any actual or potential conflict of interest or any abuse of an individual's position of trust and responsibility.
In a circular, the Securities and Exchange Board of India (Sebi) said it has tweaked the guidelines pertaining to 'access person' and 'cooling off' period of such a person in respect of investments made by them in securities traded through the secondary markets. The employees, board members of AMCs and board members of trustees, including access persons, will not take undue advantage of any sensitive information that they may have about any company or its securities or about AMCs' schemes or its units.
Jobless claims drop to lowest since March 2020 in US
The number of Americans applying for unemployment benefits fell to a pandemic low last week, another sign that the job market and economy continue to recover from last year's coronavirus recession.
Jobless claims dropped by 10,000 to 281,000, lowest since mid-March 2020, the Labor Department said Thursday. Since topping 900,000 in early January, weekly applications have steadily dropped, moving ever closer to pre-pandemic levels just above 200,000.
Japan's factory output shrinks
Japan’s factory output shrank for the third straight month in September as production in the auto sector was hit by a global supply shortage, throwing the recovery in the world’s third-largest economy into doubt.
Factory production slumped 5.4 percent in September from the previous month, official data showed on Friday, hurt by falling output of cars as well as general-purpose machinery.
US Treasury yields advance
US Treasury yields advanced on Thursday, as investors shrugged off weaker-than-expected US economic growth data and focused instead on the inflation components of the report, as well as a solid jobless claims number.
US yield curves flattened again amid heightened expectation of a rate hike by the Federal Reserve next year, with the gap between 5-year and 30-year yields narrowing to 73.4 basis points, its tightest since March 2020.
Oil prices dip
Oil prices dipped on Thursday but settled off two-week lows as concerns about U.S. supply growth vied with speculation that Iran's supply could come online following nuclear talks with global powers.Brent crude settleddown 26 cents, or 0.3 percent, lower at $84.32 a barrel.
Results today
BPCL, Adani Power, Dr Reddy's Labs, Shree Cement, UPL, Vedanta, Adani Transmission, Apollo Tyres, Bandhan Bank, Barbeque-Nation Hospitality, Bharat Electronics, Cadila Healthcare, CARE Ratings, Castrol India, Chemplast Sanmar, Cholamandalam Investment and Finance Company, LT Foods, Dalmia Bharat Sugar and Industries, Dixon Technologies (India), Elecon Engineering, Emami, Embassy Office Parks REIT, Equitas Small Finance Bank, Escorts, Exide Industries, GAIL (India), Glaxosmithkline Pharmaceuticals, Indigo Paints, JK Lakshmi Cement, JSW Energy, Kolte-Patil Developers, Neuland Laboratories, Oberoi Realty, REC, RPG Life Sciences, SAIL, Satin Creditcare Network, Sumitomo Chemical India, TTK Healthcare, Varun Beverages, VIP Industries, and Voltas.week low of $82.32 after falling 2.1 percent on Wednesday.
F&O ban
No stocks are in ban today.
