Share Market News Today Updates, 16 November 2022: Trends on SGX Nifty indicated a lower opening for the domestic markets. Share Market Updates Today: Indian equity benchmarks traded lower in Wednesday's deals, taking cues from the Asian markets amid fears of a further escalation in the Russia-Ukraine war. Stocks were rattled by reports that said Russian missile attacks killed two people in a Polish village near the Ukraine border.
Asian shares rose as Japan's Nikkei index edged 0.12 per cent lower, South Korea's KOSPI moved 0.20 per cent down, the Shanghai Composite index fell 0.17 per cent and Hong Kong's Hang Seng Index slipped 0.52 per cent.
Overnight, all three major US stock indexes settled higher after softer-than-expected inflation data raised hopes of a pullback in rate hikes by the US Federal Reserve. US producer prices rising 8 per cent in the 12 months through October against an estimated 8.3 per cent rise.
Back home, foreign institutional investors sold net Rs 221 crore worth of equities on Tuesday, while domestic investors offloaded net Rs 549 crore of shares, according to provisional data available with the National Stock Exchange.
Here are the share market Live Updates:
Mid- and small-cap shares were positive as Nifty Midcap 100 rose 0.29 per cent and small-cap edged 0.05 per cent higher.
Nestle India, Hindalco, Asian Paints, Britannia and Tata Consumer Products were among the top losers on the NSE platform today with their shares down as much as 1.11 per cent. In contrast, Cipla, Maruti, Grasim, Eicher Motors and UltraTech Cement were among the top gainers.
Sensex falls 111 points or 0.18 per cent to trade at 61,762, Nifty moves 32 points or 0.17 per cent higher to trade at 18,372
Aditi Nayar, Chief Economist, ICRA on Trade: "Both the merchandise exports and imports moderated on a sequential basis between September 2022 and October 2022, which we believe was driven by a larger number of holidays related to the festive season. As a result, the trade deficit widened in MoM terms during this period, but not alarmingly so, in spite of the large YoY contraction in the merchandise exports figure. The sequential trend in exports in October 2022 echoes what was recorded in November of 2021, which had seen a later onset of the festive season. As of now, we expect some rebound in exports and imports in November 2022 relative to October 2022, although it may not be as strong as the trend seen between November and December of 2021, given the prevailing global demand concerns."
"India's trade deficit widens yet again by nearly $27 billion as the exports fell to their highest in 20 months. Also, as observed in the past three sessions, RBI has been a buyer of US dollar which shall hold the domestic dollar demand in place and will likely keep the near-term bottom of 80.80 levels protected. Any bounce back towards 81.50-82.00 levels can be taken as a selling opportunity," said Amit Pabari, MD, CR Forex Advisors.
Hence, the clear shift from buy on dips to sell on the rise is evident in the current scenario which can be subject to evolvement from time to time considering the volatility, he added.
RBL Bank: The private lender is looking to ramp up its retail exposure to protect its books from being over-exposed to large corporates, its CEO R Subramaniakumar told news agency Reuters.
Vaibhav Global: The company said a few of its units faced cyber-attack and it is gradually recovering systems back to normal operations.
Tata Consultancy Services: TCS said TAP Air Portugal selected the IT major as its strategic partner.
IOL Chemicals and Pharmaceuticals: The company approved formation of a wholly-owned subsidiary in the United Kingdom aimed at expanding business globally.
Punjab & Sind Bank: The lender revised its one-year MCLR to 8 per cent.
Bharat Electronics: The company signed MoUs with SVC Tech Ventures, Hindustan Shipyard, US firm Profense and Yantra India.
BHEL, Delta Corp, GNFC, Punjab National Bank (PNB), Sun TV 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) sold Rs 221.32 crore worth of shares, while domestic institutional investors (DIIs) offloaded Rs 549.28 crore worth of shares on November 15, 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 31.5 points or 0.17 per cent to trade at 18,463.
The benchmark BSE Sensex had surged 249 points or 0.40 per cent to close at a record high of 61,873, while the broader NSE Nifty had moved 74 points 0.41 per cent higher to settle at 18,403.
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