Indian markets open higher ahead of GDP data – Zomato, SBI, NDTV, UK industrials among stocks to watch | Rare Techy
- The 30-stock index Sensex was up 92 points at 62,770 and Nifty50 was up 37 points at 18,655.
- The SGX Nifty, an early indicator of how markets may fare, rose 0.05% ahead of the market opening on Wednesday.
- India’s Q2 GDP data released today will be closely watched by investors.
- Zomato, SBI, NDTV, Britannia Industries are among the stocks to watch on Wednesday.
Indian benchmark indices opened with marginal gains on Wednesday amid mixed global cues. Markets have made all-time highs in the last two sessions.
The Q2 domestic GDP data released today will be closely watched by investors.
“Year-on-year growth in the Indian economy is likely to slow in the July-September quarter as the Covid-19 pandemic fades, economists said ahead of GDP data due on Wednesday,” said Deepak Jasani, head of retail research at HDFC. Securities.
The SGX Nifty, the leading index of Indian markets, rose 0.05% ahead of the market opening on Wednesday.
The 30-stock index Sensex was up 92 points at 62,770 and Nifty50 was up 37 points at 18,655.
On Tuesday, the Sensex closed the day at 62,681, up 0.28%, while the Nifty50 closed at 18,618, up 0.3%. Both indices closed the day at a high level.
In the last five trading sessions, the Sensex gained 2.06%, while the Nifty50 gained 1.93%.
“Indian markets could open relatively flat compared to today’s Asian markets and even the US markets were lower on Tuesday,” Jasani said.
The currency opened at $81.62 per US dollar on Wednesday versus 81.6 on Tuesday. Brent crude oil prices rose 1% to $85.12 from $84 on Tuesday.
Most Asian indexes were trading slightly higher with Taiwan’s TSEC 50 Index up 0.52%, followed by China’s Shanghai SE Composite Index up 0.14%; Hong Kong’s Hang Seng rose 0.13 percent. Investors were nervous about the increased restrictions in China that have caused public unrest.
Investors at home and globally are also eyeing US Fed Jerome Powell’s speech at the Brookings Institution ahead of the Federal Open Market Committee (FOMC) meeting scheduled for December 13-14.
U.S. markets remained flat on Tuesday with the Dow Jones Industrial Average ending at 33,852.50 while the S&P 500 fell 6.31 points to 3,957.
The tech-heavy Nasdaq Composite closed 0.59% lower for the third straight session as protests continued in China against the country’s zero-covid-19 policy that could affect Apple’s production from the country.
Stocks in focus
ZomatoChinese e-commerce giant Alibaba Group Holding plans to sell around 3% of a stake in a food delivery platform worth $200 million in a block arrangement, according to a Reuters report.
NDTV: Co-founders Prannoy Roy and Radhika Roy have resigned as group executives of RRPRH vehicle development with immediate effect, the company said in a regulatory filing.
SBI: The Board of State Bank of India has approved to raise Rs 10,000 crore through infrastructure bonds in FY2023.
British industry: The FMCG company has entered into a joint venture with French cheese maker Bel SA to develop, manufacture, market, distribute, trade and sell cheese products in India and certain other regions.
Stocks in the F & O ban on Wednesday
BHEL, Delta Corp, Indiabulls Housing Finance and PNB stocks are in the F&O ban period on Wednesday.
|Top earners||Modified||Top losers||Modified|
|Bajaj Auto||Legal interest 2.08%||Infosys||-0.75%|
|Hindalco Industries||Legal interest 1.56%||Power Network Corporation of India||-0.57%|
|M&M||Legal interest 1.34%||Tech Mahindra||-0.48%|
|Dr Reddy’s Laboratories||Legal interest 1.14%||HCL Technologies||-0.48%|
|JSW Steel||System efficiency 1.11%||IndusInd Bank||-0.35%|
Source: NSE, Nifty50, at 9:40 am, November 30, 2022
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