The stock market momentum continues. The benchmark indices touched another record at the opening bell on Thursday (October 14). At 09:17 AM, the Sensex was up 388.11 points or 0.64 percent at 61125.16, and the Nifty was up 117.70 points or 0.65 percent at 18279.50. About 1,503 shares have advanced, 450 shares declined, and 86 shares are unchanged.
Wipro, Infosys, Tech Mahindra, Tata Motors and Adani Ports were among the major gainers on the Nifty.
US stocks close higher
The S&P 500 and Nasdaq ended higher on Wednesday, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market.
The Dow Jones Industrial Average fell 0.53 points to 34,377.81, the S&P 500 gained 13.15 points, or 0.30 percent, to 4,363.8 and the Nasdaq Composite added 105.71 points, or 0.73 percent, to 14,571.64.
Asian markets trade mixed
Asian markets were trading mixed with Nikkei and Kospi gained 1 percent each, while Straits Times fell 0.3 percent.
US crude stockpiles rose more than expected last week, while gasoline supplies dropped sharply at a time when demand is expected to remain elevated.
West Texas Intermediate, the benchmark traded at $80.59 a barrel on the news, after settling up 0.25% at $80.44 a barrel.
US crude inventories up
US crude inventories increased by 5.2 million barrels for the week ended October 8. That compared with a build of 951,000 barrels reported by the API for the previous week. Economists were expecting a build of about 140,000 barrels.
RBI penalty on Mumbai-based bank
The Reserve Bank of India (RBI) on October 13 imposed a monetary penalty of Rs 3 lakh on Mumbai-based The Sahyadri Sahakari Bank Limited over non-compliance with RBI directions on Frauds - Classification and Reporting, the central bank said in a release.
The inspection report of the bank with the bank's position as of March 31, 2019, revealed the bank had not transferred unclaimed amounts in accounts for more than ten years to Depositor Education and Awareness Fund (DEA Fund).
Consumer prices up
Consumer prices rose 0.4 percent last month, slightly higher than August's gain and pushing annual inflation back to the highest increase in 13 years.
The consumer price index rose 5.4 percent in September from a year ago, the Labor Department said Wednesday, up slightly from August's gain of 5.3 percent and matching the increases in June and July, which were the highest since 2008. Excluding the volatile food and energy categories, core inflation rose 0.2 percent in September and 4 percent compared with a year ago. Core prices hit a three-decade high of 4.5 percent in June.
Gold prices up
Gold jumped almost $35 an ounce, or nearly 2 percent, to approach the key $1,800 level on Wednesday in response to weeks of surging oil and other commodity prices.
The rally was apparently triggered by latest US CPI data that proved to be another affirmation of inflation in the world’s largest economy.
After weeks of being stuck in the mid-to-lower $1,700 levels, the move helped validate to some extent the “safe-haven” and ‘inflation hedge” labels typically applied to the yellow metal, which many investors see as the last resort in times of political and financial troubles.
China's annual factory gate prices up
China’s annual factory gate prices rose more quickly than expected in September, driven by soaring raw material prices, piling pressure on businesses already grappling with energy curbs and supply bottlenecks.
The producer price index (PPI) rose 10.7 percent from a year earlier in September, its fastest pace since the data began to be compiled in October 1996, the National Bureau of Statistics (NBS) said on Thursday. That compared with an increase of 10.5 percent forecast in a Reuters poll and a 9.5 percentrise in August.
Singapore economy growth up in third quarter
Singapore's economy grew 6.5 percent in the third quarter, preliminary official data showed on Thursday, broadly in line with economists' forecast.
Quarterly results today
HCL Technologies, Indiabulls Real Estate, Benares Hotels, Century Textiles, Cyient, Den Networks, Ganesh Housing Corporation, GTPL Hathway, Inox Wind, Inox Wind Energy, Mahindra CIE Automotive, Radhe Developers, Superior Finlease, Vikas EcoTech, and Vikas Lifecare will release their September 2021 quarter earnings today.
Eight stocks under F&O ban
Eight stocks - Bank of Baroda, BHEL, Indiabulls Housing Finance, Vodafone Idea, NALCO, Punjab National Bank, SAIL, and Sun TV Network - are under the F&O ban today.Trends on SGX Nifty indicate a positive start for the index in India with a 95-points gain.