Asian stock markets were trading higher in the early trade on Tuesday. Hong Kong’s Hang Seng index jumped 1.57 per centDomestic equity market benchmarks BSE Sensex and Nifty 50 are likely to extend gains from the previous session on Tuesday, as suggested by trends in SGX Nifty. Nifty futures were trading 98 points higher at 11,767 on Singaporean Exchange. Market participants will continue to track US president election, second phase voting for Bihar Assembly election, corporate earnings, oil prices, rupee movement and other global cues. Asian stock markets were trading higher in the early trade on Tuesday. Hong Kong’s Hang Seng index jumped 1.57 per cent, South Korea’s Kospi also added 1.54 per cent. In overnight trade on Wall Street, US stocks ended higher on eve of the US presidential election. The Dow Jones Industrial Average rose 1.6 per cent, the S&P 500 gained 1.23 per cent and the Nasdaq Composite added 0.42 per cent.
The Reserve Bank of India on Monday announced phased restoration of trading hours for various debt as well as currency market from November 9 as the country has started graded roll-back of the lockdown. Trading hours for various markets regulated by the RBI were reduced from April 7, 2020, in view of the operational dislocations and elevated levels of health risks posed by COVID-19.
Highlights
Sensex and Nifty stare at a positive start to the day’s trading session as global markets gear up for the US Presidential elections. Sensex and Nifty enter Tuesday’s trading session after gaining nearly 0.30% on Monday. SGX Nifty was trading 100 points higher while cues from Asian markets were positive as well. Shanghai Composite was up 0.61% while Hang Seng was seen surging 1.57%. Stock markets in South Korea were close to 2% higher on Tuesday morning. Read full story
After a weak Q1, we expected a recovery in petchem and retail, while refining was expected to be weak. Reported Q2 refining earnings were much weaker than our estimate. However, petchem, Jio and retail earnings were better than our expectations. Standalone Ebitda (+8% q-o-q, -44% y-o-y) and consolidated Ebitda (+12% q-o-q, but -16% y-o-y) were ~3% ahead of our estimates: Noumura
In overnight trade on Wall Street, US stocks ended higher on eve of the US presidential election. The Dow Jones Industrial Average rose 1.6 per cent, the S&P 500 gained 1.23 per cent and the Nasdaq Composite added 0.42 per cent.
Asian stock markets were trading higher in the early trade on Tuesday. Hong Kong’s Hang Seng index jumped 1.57 per cent, South Korea’s Kospi also added 1.54 per cent.
The Reserve Bank of India on Monday announced phased restoration of trading hours for various debt as well as currency market from November 9 as the country has started graded roll-back of the lockdown. Trading hours for various markets regulated by the RBI were reduced from April 7, 2020.
Read full story