Share Market News Today Updates, 13 October 2022: Trends on SGX Nifty indicated a lower opening for the domestic markets. Share Market Updates Today: Indian equity benchmarks traded lower in opening deals on Thursday after government data showed that retail inflation spiked to a five-month high in September, stoking fears of further rate hikes by the Reserve Bank of India (RBI). Consumer price-based inflation accelerated in September to 7.41 per cent, year-on-year (yoy), as food prices surged. Market participants also awaited quarterly (Q2) results of IT firm Infosys, to be announced later in the day.
Asian stocks, in sync with an overnight decline on Wall Street, remained depressed today as investors weighed the risks of global recession amid hawkish US Federal Reserve rhetoric and uncertainty about the Bank of England's commitment to stabilising markets.
Here are the share market Live Updates:
Sensex falls 134 points or 0.23 per cent to trade at 57,492, Nifty moves 36 points or 0.21 per cent lower to trade at 17,087
The price action for Bank Nifty will range between 38,190 and 39,586, said Mohd Abutarab A Shaikh, Analyst, Vantage. This range will continue as the market remains uncertain of future rate hikes which may not be as high of intensity as previous rate hikes, he added.
Oil prices struggled to find their direction in early deals today after easing in the previous session on the back of a weakening global demand outlook. Brent crude futures dropped 7 cents, or 0.1 per cent, to $92.38 a barrel. US West Texas Intermediate (WTI) crude was down 21 cents, or 0.2 per cent, at $87.06 a barrel.
Wipro: The IT firm forecast smaller sequential revenue growth for the December quarter amid a challenging macro environment, but said its order pipeline looked robust with a few mega deals.
HCL Technologies: The IT company raised its full-year revenue growth forecast and reported a 7.1 per cent rise in September-quarter profit, helped by a rise in new order wins.
Adani Wilmar: The company said it expected Q2 revenue to grow at low single digit.
Life Insurance Corp Of India: LIC said it has cut stake in Power Grid Corp Of India to 3.30 per cent from 5.30 per cent.
Adani Ports and Special Economic Zone: Adani Ports said it received a letter of award from West Bengal Industrial Development Corp for development of deep-sea port at Tajpur.
The US dollar-Indian rupee pair has limited downside up to 81.80 levels, and have higher potential to move towards 83-83.50 levels in the near term, said Amit Pabari, MD, CR Forex Advisors.
Delta Corp and IndiaBulls Housing Finance 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 542.36 crore worth of shares, while domestic institutional investors (DIIs) have purchased Rs 85.32 crore worth of shares on October 12, provisional NSE data showed.
Trends on SGX Nifty indicated a lower opening for the domestic markets. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 72.5 points or 0.42 per cent to trade at 17,032.5.
Japan's Nikkei index fell 0.52 per cent, South Korea's KOSPI slumped 1.13 per cent, Hong Kong's Hang Seng Index tanked 1 per cent and Shanghai Composite edged 0.18 per cent lower.
Overnight, S&P 500 fell 0.33 per cent, Dow Jones edged 0.09 per cent lower and Nasdaq Composite index shed 0.08 per cent.
The benchmark BSE Sensex had surged 479 points or 0.80 per cent to close at 57,626 on Wednesday, while the broader NSE Nifty had moved 140 points or 0.82 per cent higher to settle at 17,124.
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