Latest Stock Market News

The safe-haven greenback got some support from overnight losses on Wall Street, but a rise in U.S. stock futures and firmness in Asian stocks, led by China, scuppered that demand on Tuesday. Lower long-term U.S. Treasury yields also removed a crutch for dollar strength.

“Globally markets are looking forward to the Fed commentary after its meeting on November 1st and 2nd. A 75 bps hike in rates is already discounted by the market. If the Fed indicates moderation in rate hikes, going forward, markets would positively respond to that,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

Nifty futures on the Singapore Exchange traded 95 points, or 0.53 per cent, higher at 18,155.50, signaling that Dalal Street was headed for a positive start on Tuesday.

With around half of the companies in the S&P 500 having reported their quarterly results so far, third-quarter earnings growth estimates stands at 4%, according to Refintiv data, slightly lower than the 4.1% last week. Global Payments Inc slumped 8.82% after the company forecast full-year revenue below estimates.

OPEC raised its forecasts for world oil demand in the medium-and longer-term on Monday, saying that $12.1 trillion of investment is needed to meet this demand despite the transition to renewable energy sources.

Sun Pharma, Adani Ports, TechM, UPL, Voltas, Varun Beverages, Chola Finance, UPL, Macrotech Developers, Max Healthcare, Kansai Nerolac and LIC Housing are among the companies that will announce their results for September 2022 quarter today.

Gold is highly sensitive to rising U.S. interest rates, as that increase the opportunity cost of holding the non-yielding metal. Euro zone inflation surged more than expected in October, data showed on Monday, fuelling expectations that the European Central Bank will press on with big interest rate hikes despite economic growth slowing.

Higher-than-expected sales growth was driven by execution tailwinds in the infrastructure projects segment and sustained growth momentum in its IT & TS (technology services) portfolio.

Billionaire Anil Agarwal-promoted Vedanta Ltd was also in the fray to acquire the stock exchange listed steel maker. In a statement to the exchange on Monday, the company said lenders issued a letter of intent to Jindal Saw as a successful resolution applicant. The stock notice does not disclose the offer made by Jindal Saw to acquire the steel company.

Capturing the evolution of the financial landscape in the country over the past 50 years, Patra underscored that the patterns of financial intermediation are shifting. Industry has been a major recipient of bank credit but its share in total credit has come down from 60 per cent to 27 per cent during 1972-2022, broadly equal to that of services and retail loans