Share Market News Today Updates, 12 October 2022: Trends on SGX Nifty indicated a higher opening for the domestic markets. Indian equity benchmarks on Wednesday traded higher in opening deals, halting their three-day losing run due to a fall in global oil prices. Market participants also awaited September's retail inflation data and quarterly results of IT firms (HCL Tech and Wipro) later in the day.
Asian stocks plunged to nearly two-year lows, in line with an overnight decline on Wall Street. Japan's Nikkei index fell 0.14 per cent, South Korea's KOSPI declined 0.37 per cent, Hong Kong's Hang Seng Index plunged 2.03 per cent and Shanghai Composite cracked 1.10 per cent higher.
The S&P 500 and Nasdaq Composite fell 0.65 per cent and 1.10 per cent, respectively, though the Dow Jones Industrial Average managed to close up 0.12 per cent.
Oil prices fell for a third straight session today, as investors fretted about a hit to fuel demand from growing risks of a global recession and tightening Covid-19 curbs in China. India, the world's third-largest oil importer, benefits from a fall in prices, as it brings down imported inflation.
The benchmark BSE Sensex had slumped 844 points or 1.46 per cent to settle at 57,147 on Tuesday, while the broader NSE Nifty had moved 257 points or 1.49 per cent lower to close at 16,984.
Here are the share market Live Updates:
Sensex rises 165 points or 0.29 per cent to trade at 57,312, Nifty moves 42 points or 0.25 per cent higher to trade at 17,026
Mahindra and Mahindra: M&M and Jio-bp strengthen EV partnership for setting up of charging network for Mahindra's upcoming e-SUVs.
Infosys: The IT major announced the resignation of company president Ravi Kumar.
Suzlon Energy: The company said it got an order for the development of 144.9 MW wind power projects for conglomerate Aditya Birla Group.
Genesys International Corp: The company said it won an order worth Rs 46 crore for land titling project from the Andhra Pradesh government.
Sri Adhikari Brothers Television Network: The network said committee of creditors approved a resolution plan for the company, without giving details.
The near-term bottom for US dollar-Indian rupee lies around 82.00 levels and with the RBI's absence, the pair could move again above 82.50 and 83.00 levels in the next few sessions, said Amit Pabari, MD, CR Forex Advisors.
Delta Corp, IndiaBulls Housing Finance and India Cements are in F&O (Futures and Options) ban period today. Stocks are placed under F&O ban when the derivative contracts in their securities cross 95 per cent of the market-wide position limit.
Foreign institutional investors (FIIs) have sold Rs 4,612.67 crore worth of shares, while domestic institutional investors (DIIs) have purchased Rs 2,430.76 crore worth of shares on October 11, provisional NSE data showed.
Trends on SGX Nifty indicated a higher opening for the domestic markets. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures rose 71 points or 0.42 per cent to trade at 17,011.
The benchmark BSE Sensex had slipped 31 points or 0.05 per cent to settle at 58,191, while the broader NSE Nifty had moved 17 points or 0.01 per cent higher to close at 17,315.
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