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MARKET LIVE: SGX Nifty flat; SC to resume hearing in interest waiver case
Catch all the live market updates here. SC to hear interest waiver case; Wipro to announce results
Topics
MARKET LIVE | Markets | Moratorium
SI Reporter |
Last Updated at October 13, 2020 07:55 IST
EVENT HIGHLIGHTS
(Photo: Kamlesh Pednekar)
The SGX Nifty is indicating a flat start for the domestic indices today on the back of mixed cues in Asian indices. Investors will today track the Supreme Court's hearing on a batch of petitions seeking a waiver of interest on loans during the moratorium period and seeking an extension of the moratorium.
Telecom stocks are expected to trade actively today as Trai published the latest subscription data. Reliance Jio continued to expand its subscriber base, adding another 3.55 million users in July, the same month in which Vodafone Idea lost 3.72 million users. Bharti Airtel added a net 3.26 million wireless subscribers during the month.
Besides, corporate results, stock-specific developments, the Rupee's trajectory and Covid-19 related updates will also be closely followed.
Results today
A total of five companies including Wipro, Karnataka Bank, and Tata Steel Long Products are scheduled to announce their quarterly earnings today. According to analysts, Wipro's CEO's strategy to revive growth, growth guidance for the third quarter, demand and pricing scenario, and outlook on healthcare and energy verticals are the key things to watch out for in the result announcement. READ MORE
Global cues
Apple and Amazon drove main Wall Street indices higher overnight. The Nasdaq Composite staged its biggest one-day rally in a month, jumping 2.5 per cent overnight. The Dow Jones rose 0.88 per cent and the S&P 500 gained 1.64 per cent.
Asian stocks, meanwhile, were largely lower in early deals. Although Australian ASX 200 rose 0.94 per cent in early trading, Japan's Nikkei slipped 0.1 per cent and Korea's Kospi was down half a per cent.
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