Sensex Today | Stock Market LIVE Updates: GIFT Nifty signals a positive start; Asian shares trade higher

Indus Towers shares are expected to be in focus on Wednesday after the Competition Commission of India (CCI) approved Bharti Airtel's plan to increase its stake in the company, following Indus Towers' share buyback.

Bajaj Finserv shares are expected to stay in focus on Wednesday as the company is set to announce its earnings for the September quarter later today.

Goldman Sachs Group Inc. has tactically downgraded Indian equities to neutral from overweight, citing concerns that slowing economic growth is impacting the outlook for corporate earnings.

SBI Life shares are expected to be in focus during Wednesday's trade, as the insurer is set to release its quarterly results for the July-September 2024 period later today.

From the NSE list of stocks with a market capitalization of over ₹250 crore, we have compiled a list of three stocks that reached a 5-year high at the close on October 22, indicating bullish momentum in these counters.

On Tuesday, European Central Bank policymakers united in expressing concerns about the risk of inflation dropping below the bank's 2% target, indicating a shift in focus after years of dealing with excessive price increases.

Tokyo Metro shares surged 36% during their market debut in Tokyo on Wednesday, following a highly successful initial public offering that attracted strong investor interest.

Zomato shares are expected to be in focus after the company's second-quarter profit fell short of market expectations. Although net profit surged nearly 389% year-on-year to ₹176 crore, an ET Now poll had projected a profit of around ₹260 crore.

Adani Green Energy shares are likely to be in the spotlight on Tuesday after the company reported a 39% increase in consolidated net profit for the September 2024 quarter, reaching ₹515 crore, compared to ₹371 crore in the same period last year.

Smallcap multibagger stock Tips Music announced an interim dividend of ₹2 per share, with October 24 set as the record date. This means today is the last opportunity to purchase the company's shares to be eligible for the dividend.

The second quarter earnings season has begun, with 73 companies set to release their financial results for the July-September 2024 period today. Notable reports to watch include those from HUL, Bajaj Finserv, SBI Life, and TVS Motor.

Domestic markets maintained their downward trend, dropping over 1% during the ongoing correction phase. In today’s trading session, shares of Bajaj Finance, SBI Life, HUL, Adani Energy, and Fedbank Financial will be in the spotlight due to various news developments and second-quarter earnings reports.

Hyundai Motor India had a disappointing market debut, opening at ₹1,931 on Tuesday, which is more than 1% lower than its Initial Public Offer (IPO) price of ₹1,960. By the end of the trading day, the stock closed at ₹1,820.40, reflecting a decline of 7.1% from the issue price. This trend of weak first-day performances is becoming common among large IPOs.

Zomato's performance for the September quarter presents a mixed picture. The food delivery company reported a 68% increase in revenues, although this is the lowest growth rate in the past eight quarters. Its net profit of ₹176 crore is significantly higher than last year's ₹36 crore, but it falls short of market expectations of around ₹250 crore and reflects a 30% decline from the previous quarter.

GIFT Nifty on the NSE IX traded higher by 14 points, or 0.06 per cent, at 24,539.50, signaling that Dalal Street was headed for muted start on Wednesday.

U.S. stocks ended little changed on Tuesday, but the Nasdaq eked out a modest gain while investors kept an eye on Treasuries yields and awaited more earnings to assess the health of American companies.

"The last couple of days, the market has been trying to digest the move in treasuries as you've had a pretty big backup in yields," Jack Janasiewicz, portfolio manager at Natixis Investment Managers Solutions.

Oil prices edged down on Wednesday after industry data showed U.S. crude inventories had swelled more than expected, while the market kept watch on diplomatic efforts in the Middle East as Israel continued attacks on Gaza and Lebanon.

Brent crude futures dipped 31 cents, or 0.4%, to $75.73 a barrel by 0011 GMT. U.S. West Texas Intermediate crude futures shed 32 cents, or 0.5%, to $71.42 per barrel.

On Tuesday, Indian benchmark equity indices, Sensex and Nifty50, experienced their largest single-day drop in nearly three weeks, impacted by sluggish corporate earnings and persistent foreign selling.

The NSE Nifty 50 declined by 1.25% to 24,472, while the BSE Sensex fell 1.15% to 80,220. After gaining about 0.4% in the first hour of trading, both indices reversed their gains, recording their worst performance since October 3.