MARKET LIVE: Flat open on cards for Sensex, Nifty; SGX Nifty unchanged

Stock market live updates: The markets are likely to have a flat opening on Thursday amid likely volatility on account of the monthly F&O expiry. At 8:00 am, the SGX Nifty futures were quoting at 17,076 levels, unchanged from their previous close. 

Investors will react to corporate earnings of Nifty50 companies HUL and Bajaj Auto, in addition to tracking geo-political developments. 

Hindustan Unilever (HUL) posted a 5.4 per cent rise in Q4FY22 net profit at Rs 2,304 crore. Revenue rose 10.7 per cent YoY to Rs 13,767 crore. 

While, Bajaj Auto’s Q4 net rose 10 per cent YoY to Rs 1,469 crore, while revenue declined by 10 per cent to Rs 7,975 crore. 

This apart, shares of Ambuja Cements, Axis Bank, Bajaj Finserv, Biocon, MphasiS, SBI Life, Shoppers Stop and Vedanta will also on the radar as these companies announce March quarter results later today.

Primary Market

Rainbow Children’s Medicare IPO was off to a quiet start, and got subscribed 29 per cent at the end of day 1. The retail quota received bids for up to 48 per cent of the reserved quota.

Meanwhile, Campus Activewear IPO was subscribed 3.2 times at the end of day 2 of the offer period, with keen interest seen by HNIs and retail investors.

Global cues

The US stocks edged higher on Wednesday led by a late rally in technology shares, after Microsoft reported better-than-expected earnings. The Dow Jones and the S&P 500 added 0.2 per cent each, while the Nasdaq ended almost unchanged.

Overnight, the oil prices rose modestly amid concerns over tight worldwide supply. Brent crude and WTI oil futures advanced 0.3 per cent each to $105.32 and $102.02 a barrel, respectively.

Most of the Asian markets were seen holding gains in early trade. Nikkei, Straits Times and Kospi were up around 0.3 – 0.5 per cent each, while Taiwan was up 0.1 per cent.