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Stock Market Today: Benchmark Sensex and Nifty indices indicated a flat to positive start with the broader indices on October 22. In today's trading session, GIFT is trading around 24,797 on Nifty Broader Index. After showing excellent recovery in the last session, the market remained under pressure on Monday (October 21) amid selling in all sectors except auto. In the last trading session, Sensex fell 73.48 and closed at 81,151.27. While Nifty fell 72.90 and closed at 24,781.10.
Stay connected to Moneycontrol to know what is happening in currency and equity markets today. Here we present to you a list of today's important news trending across all news platforms that may impact the Indian and international markets.
GIFT indicates a flat to positive start for Nifty in today's trading session. Nifty futures were trading around 24,797.
Hyundai's listing will happen today
Country's biggest IPO Hyundai Motor India will be listed today, issue price Rs 1960, weak response from retail, IPO filled almost two and a half times on QIB basis
Bajaj Housing's profit increased by 21%/City Union Bank's profit flat
Bajaj Housing's profit grew by 21% in the second quarter, interest income increased by 13%, net interest margin improved marginally on quarter-on-quarter basis, while City Union Bank's profit increased by about one and a half percent, NPA declined.
Keep an eye on the results of 8 promising companies
Today the second quarter results of Nifty company Bajaj Finance will come, interest income may increase by 23 percent, profit is expected to increase by 13 percent, slight pressure on margins is possible, results of 8 futures companies including Coforge, Persistent will also be monitored.
PM Modi on Russia tour from today
PM Modi will go to Russia from today for the BRICS summit in 16. Today he will meet Russian President Putin.
Key levels for Nifty 50:
Support based on pivot points: 24,927, 24,998 and 25,112
Resistance based on pivot points: 24,699, 24,628 and 24,514
global market signals
Weak signals are being seen from the global market. In Asia, the Nikkei fell more than one percent. Gift Nifty seemed to be trading quite flat. There was also a brake on the momentum of the American market, Dow closed down about 350 points, the 10-year US bond yield increased to 4.2%.
US markets closed flat yesterday. Yesterday the S&P500 closed marginally lower. The S&P500 has not declined for two consecutive days in the last 31 sessions. The S&P500 closed with losses only on September 5-6. Nasdaq closed in the green due to a rise in technology stocks. Nvidia shares reached a record high yesterday. 79% companies presented better results than expected. GE Aerospace, Philip Morris report quarterly results.
Warning from Goldman Sachs
The bullish streak in the S&P500 is now complete. The S&P500 outperformed global peers. Performed better than peers in 8 out of 10 years. Expected 3 percent return in the next 10 years. The S&P500 is up 23% this year. If the pressure continues, annual returns of 7% are possible.
hint towards asia
Yesterday China reduced LPR to 1.5 years. The sugar market will remain under watch after the rates fall. The market is expecting a relief package from China. General elections will be held in Japan on 27 October.
Will keep an eye on steel
There is a possibility of decline in demand in China for the first time in 6 years. 2024 is expected to see four consecutive years of lower spending. India's market is expected to grow by 8% in 2024. India's steel market to grow by 14% in 2023
Asian market
Today mixed business is being seen in the Asian market. GIFT Nifty is trading with a gain of 7.50 points. At the same time, Nikkei is seen falling by 1.45 percent to around 38,399.47. Whereas Straits Times is showing a weakness of 0.11 percent. Taiwan markets are trading 0.35 percent lower at 23,459.55. While Hang Seng is seen at the level of 20,585.46 with a gain of 0.31 percent. At the same time, Kospi is trading down 0.95 percent. At the same time, Shanghai Composite is trading 0.45 percent higher at 3,282.79.
FII and DII statistics
Foreign institutional investors sold Rs 2,261.83 crore in Indian markets on October 21. At the same time, domestic institutional investors purchased Rs 3,225.91 crore on this day.
Upcoming shares in F&O ban
Restricted counterparties under the F&O segment include firms whose derivatives exposure exceeds 95 per cent of the market-wide position limit.
New stocks included in F&O ban: Indiamart Intermesh, Manappuram Finance, Piramal Enterprises
Stocks retained in F&O ban: Aarti Industries, Bandhan Bank, Birlasoft, Chambal Fertilizers & Chemicals, GNFC, Granules India, Hindustan Copper, IDFC First Bank, Indian Energy Exchange, L&T Finance, Punjab National Bank, RBL Bank, SAIL