GIFT Sensex and Nifty are likely to open flat on October 26 as the Nifty trend is down 30 points, indicating a weak start for the composite index.
On October 25, domestic benchmark indexes posted their fifth consecutive session of declines on concerns about escalating tensions in the Middle East and rising US bond yields that could lead to further capital outflows from India.
The 50-share NSE Nifty fell 159.60 points or 0.83 per cent to 19,122.15. The BSE flagship Sensex fell 0.81 per cent or 522.82 points to 64,049.06.
According to the pivot point calculator, Nifty could find support at 19,077, followed by 19,012 and 18,908. On the upside, 19,147 could be an immediate resistance, followed by 19,350 and 19,454.
GIFT Nifty
Trends in the Gift Nifty point to a flat to negative start for India’s composite index, down 30 points or 0.16%. Nifty futures were trading near the 19,049.50 level.
US Markets
U.S. stocks fell sharply on Wednesday as Alphabet shares fell after Google’s parent company’s disappointing earnings report and U.S. Treasury yields rose, reigniting concerns that interest rates will remain high for an extended period of time. did.
The benchmark S&P 500 index fell for the fifth time in six days, closing below the closely watched 4,200 level. The Nasdaq Composite Index fell to its biggest single-session percentage decline since February 21, as interest rate-sensitive large-cap stocks weighed heavily on the tech-heavy index.
The Dow Jones Industrial Average completed modestly lower.
The Dow fell 105.forty five points, or 0.32%, to 33,035.93, the S&P 500 misplaced 60.ninety one points, or 1.43%, to 4,186.seventy seven and the Nasdaq Composite dropped 318.sixty five points, or 2.43%, to 12,821.22.
Asian Markets
South Korean stocks led losses in Asia-Pacific markets on Thursday after investors analyzed data showing economic growth in the third quarter was slightly stronger than expected.
Axis Bank’s Q2 net profit rises 10% to Rs 5,864 crore, asset quality remains healthy
Private lender Axis Bank on October 25 reported a 10% increase in net profit for the July-September period of FY24 to Rs 5,864 crore from Rs 5,330 crore in the same period last year.
The company’s net profit was 5,864 million rupees, higher than the market estimate of 5,698 million rupees.
Net interest income (NII) was Rs 12,315 billion, higher than market expectations of Rs 11,908 billion and increased by 19% year-on-year. Net interest margin (NIM) for the second quarter of 2024 was 4.11%, an increase of 15 basis points year-on-year.
The bank’s reserves and contingent liabilities amounted to $815 billion.
Tech Mahindra’s net profit for the second quarter fell 61.6% year-on-year to Rs 494 million, with revenue down 2%.
IT service provider He Tech Mahindra reported a 61.6% year-on-year decline in net profit to Rs 494 crore for the quarter ended September 30.
Communications, media and entertainment (CME) currently accounts for nearly 40% of the company’s revenue. The CME business decreased by 4.9% from the previous quarter and by 11.5% from the same period last year.
The year-on-year net profit was significantly lower than Moneycontrol’s forecast, which had predicted a 37% year-on-year decline to Rs 822 million. This was also lower than the previous quarterly growth estimate of 18%.
Consolidated sales for the second quarter of 2024 were 12,864 billion yen, down 2% from the same period last year. On a quarter-over-quarter basis, sales decreased by 2.2%.
Latest information on crude oil prices
Oil prices rose about 2% Wednesday on concerns about Middle East conflict, but gains were limited by rising U.S. crude inventories and a bleak economic outlook in Europe.
Brent crude oil futures rose $2.06 (2.34%) to close at $90.13 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures rose $1.65, or 1.97%, to close at $85.39 per barrel.
Gold price updates
Safe-haven gold rose on Wednesday, buoyed by ongoing conflict in the Middle East, as investors awaited major U.S. economic data for further clues about the Federal Reserve’s policy stance.
Spot gold rose 0.5% to $1,979.79 an ounce after falling in the past two sessions and falling below a five-month high hit last week. US gold futures rose 0.3% to $1,991.90.
Dollar Latest Information:
The U.S. dollar rose to near a one-week high against a basket of currencies on Wednesday as weak corporate earnings heightened concerns about the economic outlook and a rise in U.S. Treasury yields weakened investors’ appetite for risky currencies. did.
FII and DII data
According to provisional data from the National Stock Exchange, foreign institutional investors sold shares worth Rs 4,236.6 million on October 25, while domestic institutional investors sold shares worth Rs 3,569.36 million on October 25. I bought it.
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Stocks below F&O ban on NSE
The NSE has delivered Delta Corp to its F&O ban listing for October 26, at the same time as keeping RBL Bank at the stated listing.
