Share Market News Today Updates, 3 November 2022: Trends on SGX Nifty indicated a lower opening for the domestic markets. Share Market Updates Today: Indian equity benchmarks declined on Thursday during opening deals, in line with weak global cues as investors turned cautious after the US Federal Reserve Chairman Jerome Powell said it was too soon to speculate over a rate hike pause. The US central bank raised interest rates by 75 basis points (bps) on Wednesday, the fourth such hike in a row, and said its battle against inflation would require borrowing costs to rise further.
Asian stocks dropped tracking an overnight decline on Wall Street. Japan's Nikkei index edged 0.05 per cent lower, South Korea's KOSPI fell 0.55 per cent, the Shanghai Composite index slipped 0.12 per cent and Hang Seng Index slumped 2.37 per cent.
On the domestic front, the Reserve Bank of India's (RBI's) Monetary Policy Committee is also on the cards today. The policy-setting committee would potentially discuss its response to the government on its failure to stick to its inflation target for three straight quarters. (Read more)
Meanwhile, foreign institutional investors bought a net Rs 1,436 crore worth of equities on Wednesday, while domestic investors sold Rs 1,378 crore of shares, as per provisional data available with the National Stock Exchange.
Here are the share market Live Updates:
Mid- and small-cap shares were slightly positive as Nifty Midcap 100 rose 0.17 per cent and small-cap edged 0.09 per cent higher.
Hindalco, Wipro, Tech Mahindra, Infosys and Coal India were among the top losers on the NSE platform today with their shares down as much as 2.15 per cent. In contrast, Bajaj Auto, TItan, UPL, ITC and Hero MotoCorp were among the top gainers.
Sensex plunges 322 points or 0.53 per cent to trade at 60,585, Nifty moves 115 points or 0.63 per cent lower to trade at 17,968
Sensex falls 420 points or 0.69 per cent to trade at 60,486 in pre-opening deals today
Domestic stocks may see a gap-down start to Thursday's trade after the US Federal Reserve, while delivering a fourth rate hike of 75 basis points overnight, signalled it was too soon to think about a pause in rate hikes. (Read more)
The initial share sale by Bikaji Foods International would open for subscription today. The Rs 881.22 crore issue is purely an offer for sale (OFS) of 29,373,984 shares, which would be sold in the Rs 285-300 price band. (Read more)
Mahindra and Mahindra Financial Services: M&M finance arm reported September-quarter profit of Rs 448 crore, a 56.2 per cent year-on-year (YoY) decline.
JK Paper: The company reported a second-quarter profit that nearly tripled, helped by strong demand for its packaging boards and copier papers.
Redington: The country's biggest Apple and IT products distributor reported a 26 per cent jump in September quarter profit on the back of buoyant domestic demand for phones, laptops and software.
Mahindra Holidays and Resorts India: The company reported a 30.7 per cent drop in profit for the second-quarter, hit by higher expenses and a fall in revenue at its European operations.
Also, sugar stocks would be in focus as the government raised price of up to Rs 65.61 for purchase of ethanol from sugar mills as the country aims to boost blending with gasoline, oil minister Hardeep Singh Puri said.
Today we could see the RBI could intervene in the spot market to control volatility, said Amit Pabari, MD, CR Forex Advisors. The Dollar-Rupee pair is expected to trade higher in a range of 82.00 to 83.20 levels and a breakout on either side will determine further course, he added.
Major 'Put' open interests were seen at 41,000, 40,500 and 40,000 strikes with total open interest of 82,658, 76,308 and 74,930 contracts, respectively. Major 'Put' open interest additions were seen at 40,500 and 40,000 strikes which added 17,532 and 15,772 contracts. 'Put' unwinding was seen at 41,500 strike, which shed 31,565 contracts.
Major 'Call' open interests were seen at 41,500, 42,000 and 43,500 strikes with total open interest of 1,56,295, 1,25,712 and 94,574 contracts respectively. Major 'Call' open interest additions were seen at 41,800 and 41,200 strikes which added 31,437 and 29,558 contracts, respectively. 'Call' unwinding was seen at 43,000 strike, which shed 31,092 contracts.
Major 'Put' open interests were seen at 18,000, 17,500 and 18,100 strikes with total open interest of 1,51,483, 1,47,600 and 1,21,682 contracts respectively. Top 'Put' open interest additions were seen at 17,600 and 17,850 strikes which added 13,031 and 8,796 contracts, respectively. 'Put' unwinding was seen at 17,000 strike, which shed 44,658 contracts.
Major 'Call' open interests were seen at 18,400, 18,500 and 18,200 strikes with total open interest of 1,59,773, 1,59,651 and 1,48,474 contracts respectively. Top 'Call' open interest additions were seen at 18,300 and 18,500 strikes which added 38,316 and 29,984 contracts, respectively. 'Call' unwinding was seen at 18,700 strike, which shed 13,335 contracts, NSE data, as on November 2 (3:30 pm), showed.
LIC Housing Finance and PNB 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 purchased Rs 1,436.30 crore worth of shares, while domestic institutional investors (DIIs) have sold Rs 1,378.12 crore worth of shares on November 2, 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 171 points or 0.94 per cent to trade at 17,991.5.
The benchmark BSE Sensex had slipped 215 points or 0.35 per cent to close at 60,906 on Wednesday, while the broader NSE Nifty moved 62 points or 0.34 per cent lower to settle at 18,083.
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