Nifty and Sensex both declined by nearly 1% due to bearish signals in global markets and concerns about rising oil prices. Dow and Nasdaq futures are trading lower.
Brent Crude: 91.05 1.29%
USD INR Spot: 83.2571 -0.01%.
India 10Y Bond yield: 7.35 0.30%
Nifty 50 heat map.
More stats at: technicals.zerodha.com
Amongst the F&O stocks
Cipla was the top gainer.
Syngene International was the top loser.
Earnings Update:
Bajaj Auto: Net Profit: Rs. 1836 cr 20% YoY; Revenue: Rs. 10,777 cr 5.6% YoY.
Indusind Bank: Net Profit: Rs. 2,202 cr 22% YoY; NII: Rs. 5,077 cr 18% YoY.
LTIMindtree Net Profit: Rs. 1162 cr 2.25% YoY; Revenue: Rs. 9,048.6 cr 7.86% YoY.
Tata Elxsi: Net Profit: Rs. 200 cr 14.8% YoY; Revenue: Rs. 881.7 cr 15.5% YoY.
Wipro: Net Profit: Rs. 2667.3 cr 0.7% YoY; Revenue: Rs. 22,515.9 cr 0.10% YoY.
News
Wipro will merge its wholly-owned subsidiaries, including Wipro HR Services India, Wipro Overseas IT Services, and others, with Wipro Limited. The board approved the amalgamation scheme during a meeting on October 17-18.
India’s diamond polishing industry is projected to experience a 30-35% revenue decline to $14-15 billion in the current fiscal year, primarily due to weak demand from the US, EU, and China, according to rating agency Crisil.
Suzuki Motor intends to produce electric vehicles in India for export to Japan by 2025, establishing India as its global EV manufacturing hub. They also consider supplying India-made EVs to Toyota for the European market under the Toyota brand.
UK inflation held steady at 6.7% in September, defying expectations of a slight drop, with rising oil prices offsetting food cost decreases. The Consumer Prices Index remained at the same rate as the previous month, contrary to the anticipated dip of 6.6%.