SGX Nifty is up by 23 points in the early morning trade, indicating a positive opening for Indian stock market.
Asian share markets were taking a breather on Monday after last week’s sweeping rally as a top US central banker warned investors against getting carried away over one inflation number, nudging up bond yields and the dollar. The Japanese Nikkei is down by 0.37 percent and South Korea’s Kospi is up by 0.43 percent. Hong Kong’s Hang Seng is up by 3.14 percent in the early morning trades.
The S&P 500 and Nasdaq ended sharply higher on Friday, extending a rally started the day before after a soft inflation reading raised hopes the Federal Reserve would turn less aggressive on raising the interest rates. S&P 500 was up by 0.93 percent whereas Nasdaq composite rallied by 1.88 percent.
European stock markets eyed their fourth straight week of gains and started the month on solid ground, driven by better-than-feared corporate earnings and hopes the Fed will deliver rate hikes in smaller increments.
? Life Insurance Company clocked a 27 percent year-on-year growth in net premium at Rs 1.32 lakh crore for the quarter ended September FY23. The net profit for the quarter at Rs 15,952 crore jumped 11-fold over Rs 1,434 crore last year, partly driven by incomes. The company’s other income stood at Rs 6,795 crore as against Rs 46 crore a year back for the quarter, including refund of income tax.
? Glenmark Pharma company reported a 1.1 percent year-on-year growth in profit at Rs 260.4 crore for the quarter ended September FY23, with revenue rising 7.2% YoY to Rs 3,375.2 crore for the quarter impacted by North America business that fell 0.1%
? ABB India clocked a massive 68.6% year-on-year growth in profit at Rs 202.5 crore for the quarter ended September FY23 with revenue rising 19.2% YoY to Rs 2,119.7 crore. The strong performance for the quarter can be attributed to its expanding customer base and industry-leading product portfolio.
? Zee Entertainment Enterprises reported a 58% year-on-year decline in profit at Rs 112.8 crore for the September FY23 quarter, dented by weak operating performance and muted topline growth. Revenue for the quarter at Rs 2,028.4 crore grew by 2.5% as domestic advertising revenues were lower by 7.7% due to FTA withdrawal (Zee Anmol) and challenging macroeconomic environment. EBITDA fell 26.3% YoY to Rs 297.3 crore for the quarter.
? Foreign institutional investors (FIIs) net bought shares worth Rs 3,958.23 crore, while domestic institutional investors (DIIs) pumped Rs 615.54 crore into equities on November 11, as per provisional data available on the NSE.
EMERGING | LATEST | % 1D |
Hang Seng | 17,326 | 7.7 % |
Shanghai Composite | 3,087 | 1.7 % |
DEVELOPED | LATEST | % 1D |
Dow Jones | 32,748 | 0.1 % |
DAX | 14,225 | 0.6 % |
FTSE 100 | 7,318 | (0.8) % |
Nikkei | 28,264 | 3.0 % |
Straits Times | 3,228 | 1.7 % |
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