Sensex down 325.58 points, Nifty below 18,000
Benchmark stock indexes opened flat on November 10. The Sensex lost 325.58 points or 0.54% to 60,107.87. The larger Nifty lost 93.70 points or 0.52% to 17,950.60. About 151 shares rose, 266 shares fell and 37 shares are unchanged.
Nifty finished almost flat on November 9 after muted moves. At the close, the Nifty was down 0.13% or 24.3 points to 18,044.2.
Nifty ended the day almost on par with most other markets. Nifty broke through yesterday’s high, but there was no upward movement. A move above the 18115-18125 band could lead to more hikes while 17947-17970 is a support band for the near term Nifty.
Actions to watch
Equity-specific actions can be seen in stocks such as profit taking and ongoing inflation concerns fueled a large sell-off (company reported higher consolidated profit at Rs 3,376.4 crore in Q2FY22 vs. Rs 3,094.1 crore in Q2FY21), AstraZeneca India (reported a 54.65% drop in net profit to Rs 11.94 crore for the quarter ended September 30, 2021).
Wall Street closes lower on Tuesday
Wall Street closed lower on Nov. 9, ending a multi-day rally of consecutive record highs as ongoing profit-taking and inflation concerns fueled a broad sell-off.
The Dow Jones Industrial Average lost 112.24 points, or 0.31%, to 36,319.98, the S&P 500 lost 16.45 points, or 0.35%, to 4,685.25 and the Nasdaq Composite lost lost 95.81 points, or 0.6%, to 15,886.54.
Asian equity trading is mixed
Asia-Pacific stocks were mixed in trading on November 10, as investors reacted to China’s October inflation data release. Soaring prices for oil and Chinese factories have raised concerns among investors that a sharp rise in US inflation will put renewed pressure on policymakers to raise interest rates.
The Nikkei 225 in Japan was little changed while the Topix index climbed 0.13%. South Korea’s Kospi plunged 0.61%. Australian stocks edged up, with the S & P / ASX 200 rising 0.12%.
Traders await US CPI data tonight. The consumer price index is expected to have risen nearly 6 percent in October, the highest in three decades.
US stocks end lower on Tuesday
U.S. stock indices ended lower on Tuesday, with the Nasdaq Composite and S&P 500 recording long streaks of wins as market benchmarks retreated from record highs. Investors analyzed a report on wholesale inflation in the United States and announced that industrial conglomerate General Electric is planning to split into three separate companies.
In US economic data, the October producer price index rose 0.6%, in line with expectations, with the pace of wholesale inflation over the past 12 months holding steady at 8.6% . This is the highest level since the index was reconfigured in 2009, and probably one of the highest readings since the early 1980s. The National Federation of Independent Businesses said its business confidence indicator. small businesses had fallen 0.8 points to 98.2 last month, its lowest level since March.
RBI announces global hackathon
The Reserve Bank of India (RBI) announced on November 9 the launch of its first global hackathon “HARBINGER 2021 – Innovation for Transformation” on the theme “Smarter Digital Payments”.
The hackathon will invite participants to identify and develop solutions that can make digital payments accessible to underserved people, improve the ease of payments and the user experience, strengthen the security of digital payments and promote the protection of consumers. customers, the RBI said in a statement.
Oil prices at their highest for two weeks
Oil prices hit a two-week high on November 9 after the United States lifted travel restrictions and other signs of a post-pandemic global recovery boosted the demand outlook, while the offer remained tight.
Brent futures rose $ 1.35, or 1.6%, to $ 84.78 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 2.22 $, or 2.7%, to come to $ 84.15.
Home sales jump nearly 46%
Home sales jumped nearly 46% quarter-on-quarter to 50,000 units in the third quarter of 2021 and sales rebounded about 86% year-on-year thanks to an attractive mortgage regime and government incentives.
Office leasing activity reached 13.5 million square feet in the third quarter of 2021, growing around 140% quarter-on-quarter, with a cumulative 25 million square feet for key cities, according to a CBRE South Asia Pvt Ltd report titled India Market Monitor – Q3 2021.
Pune led home sales in Q3 2021 with 33%, followed by Mumbai (23%), Bengaluru (17%) and Hyderabad (13%). At 47% and 31%, the mid-segment and affordable budget were the main drivers of sales growth in the third quarter of 2021, respectively. New project launches jumped nearly 37% quarter-on-quarter to 48,950 units in the quarter. third quarter 2021, according to the report.
China launches euro-dominated 3-tranche bond issue
China on Wednesday launched a three-tranche euro bond issue as part of its second major foreign exchange transaction in a month, according to a terms sheet reviewed by Reuters.
The country’s finance ministry said on Oct. 29 that the deal would raise up to 4 billion euros ($ 4.6 billion) and that the debt would be issued in three, seven and 12-year installments.
The initial price forecast for investors was set at the average swap rate plus a 20 basis point area for the 3 year transaction, 40 basis point area for the 7 year tranche and a 65 point area. base for the 12-year bracket, the leaf term shown.
Consumer inflation in China in line with expectations
Chinese consumer inflation for October is roughly in line with expectations, official data showed Wednesday. October’s consumer price index rose 1.5% from a year ago, against expectations of a Reuters poll for a 1.4% increase. However, producer prices rose more than expected. October’s producer price index jumped 13.5% from a year ago, above expectations of a Reuters poll for a gain of 12.4%. China ex-factory prices in October rose at the fastest rate since 1995.
China Evergrande Group is facing its biggest payment test since signs of a liquidity crunch appeared at the company five months ago. Investors are waiting to see if the ailing developer makes coupon payments totaling $ 148.1 million for three-dollar bonds before the 30-day grace periods end on Wednesday.
Bank of Baroda, Zomato, Affle India, Berger Paints, Glenmark Life Sciences, India Cements, Krishna Institute of Medical Sciences, Mazagon Dock Shipbuilders, Metropolis Healthcare, Nuvoco Vistas Corporation, Oil India, Pidilite Industries and Tata Teleservices are among the 268 companies that publish the results for the September quarter.
Posted on: Wednesday, November 10, 2021, 9:25 a.m. IST