Share Market Highlights: Sensex ends 350 pts higher, Nifty shy of 18150 amid volatility; Infosys leads gains | The Financial Express

Share Market Highlights: Sensex ends 350 pts higher, Nifty shy of 18150 amid volatility; Infosys leads gains

Share Market News Today | Sensex, Nifty, Share Prices Highlights: BSE Sensex closed 374 points, or 0.62 per cent higher at 61,121, while broader NSE Nifty 50 settled 133 pts or 0.7 per cent up at 18,145.

Share Market Highlights: Sensex ends 350 pts higher, Nifty shy of 18150 amid volatility; Infosys leads gains
In global markets, Asian markets were trading higher today morning, while US stocks lost ground overnight.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Benchmark indices ended in green in a highly volatile session with Nifty closing just shy of 18,150. BSE Sensex closed 374 points, or 0.62 per cent higher at 61,121, while broader NSE Nifty 50 settled 133 pts or 0.7 per cent up at 18,145. Bank Nifty bucked market trend and ended in red at 41,289. Sectorally, Nifty Metal, Nifty Pharma, and Nifty IT led gains, while Nifty PSU Bank and Nifty Media indices capped the upmove. In broader markets, Nifty Midcap 50 and Nifty Smallcap 50 rose marginally by 0.83 per cent and 0.47 per cent, respectively. Adani Enterprises, Divi’s Laboratories, NTPC, Grasim and Powergrid were the Nifty gainers, while Axis Bank, UPL, Eicher Motors, Reliance, and Maruti emerged as the laggards for today.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News 1 November, Tuesday

15:45 (IST) 1 Nov 2022
BSE Sensex gainers, losers

NTPC, Powergrid, Infosys, TCS, and Dr Reddy's were the top gainers, while Axis Bank, Maruti, Reliance, and Tata Steel were the laggards.

15:44 (IST) 1 Nov 2022
Nifty gainers, losers

Adani Enterprises, Divi’s Laboratories, NTPC, Grasim and Powergrid were the Nifty gainers, while Axis Bank, UPL, Eicher Motors, Reliance, and Maruti emerged as the laggards for today.

15:37 (IST) 1 Nov 2022
Nifty Sensex end higher amid volatility

Benchmark indices ended in green in a highly volatile session with Nifty closing just shy of 18,150. BSE Sensex closed 374 points, or 0.62 per cent higher at 61,121, while broader NSE Nifty 50 settled 133 pts or 0.7 per cent up at 18,145.

15:04 (IST) 1 Nov 2022
Nifty, Sensex holding firm gains

The Sensex was up 245.38 points or 0.40% at 60991.97, and the Nifty was up 93.80 points or 0.52% at 18106.

14:38 (IST) 1 Nov 2022
DCX Systems IPO subscribed 5 times

The IPO of DCX Systems has got a good response, mopping up bids for 7.24 crore equity shares against an offer size of 1.45 crore shares. The IPO had been subscribed 5 times on November 1, the second day of bidding. Retail investors are aggressively bidding for the IPO and have bought 19.26 times their allotted quota of shares. Non-institutional investors have subscribed 6.09 times their quota, while qualified institutional buyers have bid for 5% of the shares set aside for them. DCX Systems plans to mobilise Rs 500 crore through the IPO, with a price band of Rs 197-207 a share. The offer comprises a fresh issue of Rs 400 crore and an offer for sale of Rs 100 crore.

14:24 (IST) 1 Nov 2022
Bank Nifty flat

Bank Nifty index was trading flat in green in noon deals. The index was up just 20 pts or 0.04% at 41326

14:23 (IST) 1 Nov 2022
Power stocks gain

BSE Power index added 1%, led by the NTPC, ABB, JSW Energy

14:22 (IST) 1 Nov 2022
Nykaa climbs 6% after net profit jumps 343% on-year to Rs 5 crore in Q2FY23

Shares of FSN e-Commerce Ventures, parent firm of Nykaa, surged 6.5% to Rs 1,233 intra-day after company's net profit jumped 343% on-year to Rs 5.1 crore in the July-September quarter (Q2FY23) from Rs 1.1 crore in the year-ago period.

14:21 (IST) 1 Nov 2022
Balrampur Chini to consider share buyback on 9 Nov

A meeting of the board of directors of Balrampur Chini Mills will be held on 9 November 2022, to consider the Standalone and Consolidated Unaudited Financial Results of the Company for the quarter and half year ended 30 September 2022 and buyback of Equity Shares of the company and matters related/ incidental thereto.

14:02 (IST) 1 Nov 2022
NTPC surges over 4%; stock nears 5-year high

Shares of NTPC moved higher by 4.5%, hitting a nearly five-year high of Rs 180.85 on the BSE intra-day, lifted by heavy volumes. Currently, it is quoting at its highest level since December 2017. The stock had hit a record high of Rs 243 on 15 January 2008.

14:01 (IST) 1 Nov 2022
Alembic Pharma gets final USFDA nod for Glycopyrrolate Injection, stock up 2%

Alembic Pharmaceuticals has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Glycopyrrolate Injection USP, 0.2 mg/1 mL and 0.4 mg/2 mL (0.2 mg/mL) Single-dose Vials and 1 mg/5 mL (0.2 mg/mL) and 4 mg/20 mL (0.2 mg/mL) Multiple-dose Vials.

13:47 (IST) 1 Nov 2022
Sun Pharma Q2 net jumps 50% to Rs 1,213 cr; stock up 2%

Sun Pharma reported a 49.9% on-year jump in Q2 net profit at Rs 1,213 crore for the quarter ended September 2022 as against Rs 809 crore in the corresponding quarter a year ago. Total income was up 20.3% at Rs 5,327 crore.

13:22 (IST) 1 Nov 2022
Tata Power (Q2FY23): Stable all-round performance. Upgrade to ADD

“The company’s planned 4GW of extended module and cell capacity is expected to be rolled out in July 2023 and December 2023 respectively. Its EPC order book remains strong at INR150bn (3.8GW) and is gaining traction. The first tranche of INR20bn from the Blackrock deal was completed in Q2FY23. The ministry of power’s nod to allow CGPL exercise Sec 11 for offtake arrangement until Dec’ 2022 provides the much-needed respite for the project to curb its under-recovery. However, unless it signs supplementary PPAs with the beneficiaries, the benefits at Mundra are temporary with no long-term solution. We have marginally tweaked our estimates and raised our SoTP to INR243 vs INR232 earlier, factoring in margin restoration in its EPC business and loss reduction at Mundra.”-HDFC Securities Institutional Equities

13:13 (IST) 1 Nov 2022
Nykaa net profit declines 9% sequentially in Q2FY23

Nykaa Q2FY23 (QoQ)
-Net profit down 8.9% at Rs 4.1 crore vs Rs 4.5 crore
-Revenue up 7.2% at Rs 1,231 crore vs Rs 1,148.4 crore
-EBITDA up 33%at Rs 61.2 crore vs Rs 46 crore
-Margin at 5% vs 4%

13:12 (IST) 1 Nov 2022
GST collections rise to Rs 1.52 lakh crore in October, second highest ever

India collected Rs 1.52 lakh crore in Goods and Services Tax (GST) in September, the second highest ever collection, the finance ministry said. Monthly GST revenues have been more than Rs 1.40 lakh crore for eight months in a row, an indication of the continued economic recovery. “The revenue for October 2022 is second highest monthly collection, next only to the collection in April 2022 and it is for the second time the gross GST collection has crossed Rs. 1.50 lakh crore mark,” the finance ministry said. “October also saw the second highest collection from domestic transactions, next only to April 2022.”

13:11 (IST) 1 Nov 2022
L&T nears record high

Larsen & Toubro shares rose to inch close to record high after strong Q2FY23, healthy order book. Analysts believe that L&T is well-placed to benefit from overall diversified tender prospects with better order conversion in the domestic market.

12:43 (IST) 1 Nov 2022
Nifty may head towards new all-time high

“We have been bullish in Nifty from RBI policy day at 16,800. Already captured move of over 1300 points in Nifty. More upside above 18,100 with Immediate Targets of 18,500/18,604 (new all-time high). Re-iterate Nifty Target of 21,000 (12 months).”-Rahul Sharma, Head-Research, JM Financial Services

12:41 (IST) 1 Nov 2022
FIIs buy India stocks worth $1 billion in six sessions

Between 20-28 October, foreign investors (FIIs) bought $923 million in equities, according to data from NSDL. Provisional data from the National Stock Exchange showed that on 31 October, FIIs bought around Rs 4,178.61 crore in Indian equities.

12:03 (IST) 1 Nov 2022
Varun Beverages net profit jumps 58.7% on-year

Varun Beverages September Quarter Results (YoY):
-Net Profit up 58.7 percent at Rs 381 crore vs Rs 240 crore
-Revenue up 33.1 percent at Rs 3,248.3 crore vs Rs 2,440.4 crore
-EBITDA up 41.5 percent at Rs 699 crore vs Rs 494 crore
-Margin at 21.5 percent vs 20.2 percent

11:56 (IST) 1 Nov 2022
Fed to remain hawkish, 75 bps rate hike likely

“Recently, data in the U.S. has remained mixed. GDP was upbeat m-o-m, however, non-farm payrolls were weaker. Additionally, business confidence, services and manufacturing PMI numbers were also weak. But the crucial inflation remained sticky with CPI on a yearly basis remaining above 8%. So, markets are speculating that the U.S. Fed could ease on aggressive language on future rate hikes in 2023 as the recent aggressive rate hikes have weighed on the U.S. economy and possibly lead to a recession. Markets have already factored in a 75-bps rate hike in November and according to the FedWatch Tool, less than 50% of markets believe that 75-bps is expected in November. So, will the Fed remain hawkish? Yes, in November, but in December there is small probability that the Fed could pivot to a less hawkish stance amid signs that inflation in the U.S. could be easing. However, it’s too early to assume that inflation will ease beyond December.”Sriram Iyer – Senior Research Analyst, Commodities & Currencies at Reliance Securities

11:53 (IST) 1 Nov 2022
Canara Bank hits 3-yr high; stock zooms 33% in 3 weeks on strong Q2 results

Shares of Canara Bank hit over three-year high of Rs 297.35 as they gained 2.5% on the BSE in intra-day trade. The shares extended their upward movement which started with the lender reporting a strong set of numbers for the quarter ending September 2022 (Q2FY23). The stock of the public sector lender was quoting at its highest level since April 2019. In the past three weeks, the market price of Canara Bank has zoomed 33% after it reported an 89% jump in net profit to Rs 2,525 crore in Q2FY23, aided by higher net interest income that came on the back of a healthy growth in advances.

11:50 (IST) 1 Nov 2022
BEL gains after management raises lower end of margin guidance

Highlights from Bharat Electronics concall:
-Set to achieve 15% revenue growth in FY23
-Expect H2FY23 turnover to be better than H1FY23
-Have a minimum of Rs 20,000 crore order inflow visibility
-Raise lower end of FY23 margin guidance
-FY23 margin now seen at 22-23 percent vs 21-23% earlier

11:47 (IST) 1 Nov 2022
More IPOs to hit Dalal Street this week; Medanta, Bikaji, 2 others aim to raise Rs 4,500 crore via public offers

After DCX Systems IPO which opened for subscription on Monday (1 November), three more IPOs are set to hit Dalal Street this week. A total of four companies have lined up to launch their initial public offering this week and these 4 IPOs cumulatively plan to raise about Rs 4,500 crore. Post their IPO issue, the companies will be listed on both BSE and NSE. According to analysts, this week is like a litmus test for the IPO market, which has remained subdued this year. An enthusiastic response from investors to these issues may push the revival button for IPOs again.

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11:06 (IST) 1 Nov 2022
Nifty, Sensex extend gains

Benchmark indices extended gains in late morning deals. Sensex is up 502.64 points or 0.83 percent at 61,249.23. Nifty is up 150.80 points or 0.84 percent at 18163.00.

10:33 (IST) 1 Nov 2022
RBI to launch pilot of digital rupee today; SBI, HDFC Bank, 7 other lenders identified for participation

The Reserve Bank of India (RBI) on Tuesday (1 November) will launch the first pilot project for central bank digital currency (CBDC), also known as digital rupee or e-rupee. According to the RBI notification, the first digital rupee pilot will be in the Wholesale segment (eâ1-W), and the central bank has identified nine banks to participate in commencing the first pilot. The nine banks are State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, and HSBC. The pilot project will focus on settlement of secondary market transactions for government securities.

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10:28 (IST) 1 Nov 2022
Axis Bank shares fall 2%

Axis Bank slipped 2% after 1.2% equity changes hands on BSE via block deal. At 9:15 AM, around 38.99 million shares representing 1.2% of total equity of Axis Bank changed hands on the BSE, the exchange data showed.

10:27 (IST) 1 Nov 2022
Sun Pharma shares rise ahead of Q2 results

India’s largest pharmaceutical company by sales Sun Pharmaceutical Industries is expected to report a muted operating performance and earnings for the quarter ended September. The company is expected to report a 4% on-year decline in consolidated net profit.

09:54 (IST) 1 Nov 2022
Bharti Airtel shares fall

Bharti Airtel shares fell nearly 1% after India's second-largest telecom company's consolidated net profit for Q2FY23 rose 89% to Rs 2,145.2 crore against Rs 1,134 crore reported a year back, thanks to strong growth in data traffic. Its total revenue stood at Rs 34,526.8 crore, up 22 percent from Rs 28,326.4 crore reported in the corresponding quarter last year.

09:52 (IST) 1 Nov 2022
L&T shares fall 1%

L&T shares fell over 1% after the company's net profit during the second quarter of FY23 climbed by 22.5% on-year to Rs 2,229 crore. L&T reported a 23% rise in consolidated revenue for Q2 FY23 at Rs 42, 763 crore, as compared to Rs 34,772 crore clocked in the corresponding quarter of the previous fiscal.

09:22 (IST) 1 Nov 2022
Tata Steel shares fall 2%

Tata Steel share price fell 2% after the company reported an 87% on-year decline in consolidated net profit at Rs 1,514 crore for the September quarter. Tata Steel's profit declined 80% sequentially. Consolidated revenue remained flat with a marginal decline of 1% on-year to Rs 59,878 crore. It was down 6% on-quarter.

09:21 (IST) 1 Nov 2022
Nifty gainers, losers

Power Grid Corporation, Dr Reddy's Labs, SBI Life Insurance, Grasim Industries and Apollo Hospitals were among major gainers on the Nifty, while Tata Steel, Axis Bank, Coal India, Larsen & Toubro and ITC were the laggards.

09:18 (IST) 1 Nov 2022
Nifty, Sensex jump 0.5% on open

Indian benchmark indices opened on a positive note with Nifty above 18,100 on the back supporting Asian markets. Sensex was up 0.5% at 61080, while NSE Nifty jumped half a per cent to trade around 18110 levels.

09:15 (IST) 1 Nov 2022
Bank Nifty support at 41000

Nifty likely to find support at around 17850 while 18300 is likely to act as resistance.

Bank Nifty likely to find support at around 41000. 41800 is likely to act as resistance on the upside.-IIFL Securities

09:09 (IST) 1 Nov 2022
Nifty resistance at 18250

“Today, markets are likely to start the new month on an optimistic note supported by steady foreign flows coupled with drop in crude oil prices. Recently, the International Monetary Fund (IMF) projected 6.8% real growth for this year and 6.1% for next year for India. However, there may be some cautiousness as data released by the Controller General of Accounts showed that the Central government's fiscal deficit widened to Rs 6.20 lakh crore in April-September, accounting for 37.3% of the full-year target. Auto stocks will be in the limelight reacting to their monthly sales numbers to be out from today. Investors await more of financial results from India Inc for domestic cues, with Adani Ports, Tech Mahindra, Varun Beverages, and Nykaa due to post their earnings later in the day. On the technical front, the key resistance level for Nifty50 is 18,250  and on the downside 17,900 can act as strong support. Key resistance and support levels for Bank Nifty are 41,700 and 41,000 respectively.”- Mohit Nigam, Head – PMS, Hem Securities

09:06 (IST) 1 Nov 2022
Rupee opens higher

Indian rupee opened marginally higher at 82.74 per dollar on against previous close of 82.77.

09:06 (IST) 1 Nov 2022
Market Pre-Open: Indices open higher

Benchmark indices are trading firm in the pre-opening session. The Sensex was up 164.15 points or 0.27% at 60910.74, and the Nifty was up 201.80 points or 1.12% at 18214.

08:57 (IST) 1 Nov 2022
Earnings Today

Adani Ports And Special Economic Zone, Chambal Fertilisers & Chemicals, Cholamandalam Investment and Finance Company, CMS Info Systems, Dhanuka Agritech, Elantas Beck India, JK Tyre & Industries, Kansai Nerolac Paints, Karnataka Bank, LIC Housing Finance, Macrotech Developers, Max Healthcare Institute, FSN E-Commerce Ventures, Punjab National Bank, Prudent Corporate Advisory Services, Sun Pharma

08:56 (IST) 1 Nov 2022
Nifty futures & Bank Nifty futures key levels

Nifty Futures – Resistances 18125-18200; Supports 17980-17900

Banknifty Futures – Resistances 41650-42000; Supports 41250-41000

08:56 (IST) 1 Nov 2022
Derivatives Overview & Outlook

“Yesterday, Nifty futures added around 5% of open interest as long buildup whereas Banknifty futures remained almost unchanged on open interest front. Majority of F&O sectors settled higher. Amongst them, IT, Textile, Cement and Metal stocks witnessed maximum addition of long positions whereas short covering was seen among Power stocks. On options front, put writing was seen at multiple strikes and maximum positions are at 18500 CE and 17800 PE.”-Globe Capital

08:55 (IST) 1 Nov 2022
Excessive volatility likely this week

“Nifty index has settled above 18000-mark, this is a positive development indicating buyer’s interest at current levels. Going ahead, host of macro-economic events are lined up during this week which will keep traders busy and lead to excessive volatility.”-Globe Capital

08:53 (IST) 1 Nov 2022
Some profit booking advisable on rallies

“The ongoing rally which has taken the Sensex above 60000 has been triggered mainly by the rally in the mother market US where the Dow has recorded 4 straight weeks of gains. This US market rally, in turn, has been triggered by the strong US Q3 GDP data which surprised on the upside with a 2.6% growth. The market which had discounted an immediate recession is now discounting a possibility of a soft landing for the US economy, that is, the Fed might succeed in taming inflation without pushing the economy into recession. In India, FPIs turning buyers is another positive for markets. Short covering can take the market higher. But at higher levels there will be institutional selling putting a cap on the rally. Some profit booking is advisable on rallies,” –VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

08:52 (IST) 1 Nov 2022
Oil prices slip

Oil prices inched lower on Tuesday, extending losses of 1% from the previous session as more extensive COVID-19 curbs in China increased fears of slowing fuel demand in the world's second-largest oil consumer. Brent crude for January delivery was down 4 cents at $92.77 a barrel at 0112 GMT. The December contract expired on Monday at $94.83 a barrel, down 1%. US West Texas Intermediate (WTI) crude fell 18 cents, or 0.2%, to $86.35 a barrel.

08:17 (IST) 1 Nov 2022
Reliance Securities Intraday picks

VOLTAS (PREVIOUS CLOSE: 876) BUY 

For today’s trade, long position can be initiated in the range of Rs 871- 867 for the target of Rs 910 with a strict stop loss of Rs 854. 

BAJAJFINSV (PREVIOUS CLOSE: 1,688) BUY 

For today’s trade, long position can be initiated in the range of Rs 1,676- 1,668 for the target of Rs 1,730 with a strict stop loss of Rs 1,650. 

PIDILITIND (PREVIOUS CLOSE: 2,584) BUY 

For today’s trade, long position can be initiated in the range of Rs 2,572- 2,560 for the target of Rs 2,645 with a strict stop loss of Rs 2,540.  

08:13 (IST) 1 Nov 2022
Stocks in focus today

Larsen & Toubro: L&T consolidated PAT jumped 22.5% to Rs 2,229 crore as consolidated revenue surged 23% to Rs 42,763 crore

Tata Steel: Tata Steel reported a nearly 90% drop in consolidated net profit to Rs 1,297 crore for the July-September quarter of FY23.

Bharti Airtel: The telecom company’s consolidated net profit for Q2FY23 rose 89% to Rs 2,145.2 crore against Rs 1,134 crore reported a year back.

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08:07 (IST) 1 Nov 2022
Core sectors’ growth quickens

India's eight core sectors grew 7.9% in September, quickening from an upwardly revised 4.1% in August, the commerce ministry said on 31 October. Output in six of the eight core sectors grew in September. These sectors include coal, refinery products, electricity, fertilisers, cement and steel, said the ministry. Meanwhile, production of coal rose 12% on-year in September, and electricity generation rose 11%, said the commerce ministry. Refinery products output rose 6.6% while fertilisers grew 11.8% in September from a year earlier.

07:48 (IST) 1 Nov 2022
Fiscal deficit widens

The central government's fiscal deficit widened to Rs 6.20 lakh crore in April-September, accounting for 37.3% of the full-year target, data released on 31 October by the Controller General of Accounts showed. The fiscal deficit for April-September 2021 had accounted for 35% of the FY22 target. The fiscal deficit in the first half of the last financial year months was Rs 5.27 lakh crore. As such, the fiscal deficit in April-September of the current financial year is 17.65 percent higher on a year-on-year basis. The Centre is targeting a fiscal deficit of Rs 16.61 lakh crore for FY23, or 6.4% of GDP.

07:46 (IST) 1 Nov 2022
Nifty could touch 18100-18150 levels

“Investors are hoping for a smaller rate hike by the US Federal Reserve this week against the earlier expectation of a more aggressive rate increase. This optimism has fuelled a sharp upsurge, which has pushed both the local benchmark indices above their key psychological levels. Also, FIIs are looking at local shares with renewed interest, which has boosted the investors' sentiment. However, if the Fed adopts any hawkish stance, markets could be in for a steep correction in the near term. Technically, the Nifty has formed a bullish candle and higher bottom formation, which is indicating the continuation of an uptrend in the near future. As long as the index trades above 17900 the uptrend formation is likely to continue, and above the same it could touch 18100-18150 levels. Below 17900, traders may prefer to exit long positions and on further decline it could retest the 17800 mark.”-Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

07:45 (IST) 1 Nov 2022
Investors will be eyeing RBI MPC’s unscheduled meeting

“The bullish momentum rebounded as benchmark Nifty recaptured the 18000 mark despite the fact that the Federal Reserve indicated readiness to tighten more aggressively to fight surging inflation. Nifty is likely to be on the front foot in the near term with aggressive targets at its all-time-high at 18605 mark. Hopefully, a dovish Federal Reserve on November 2 leads into a new uptrend at Dalal Street. Investors will also be eyeing RBI MPC's unscheduled meeting on Thursday, and US October jobs report on Friday.”-Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities

07:44 (IST) 1 Nov 2022
Nifty to regain momentum above 18,100 level

“Markets started the week on a robust note and gained over a percent, tracking firm global cues. After the gap-up start, the Nifty hovered in a narrow range for most of the day and buying in the last hour helped the index to reclaim 18,000 levels. Healthy buying was witnessed across sectors while the broader indices continue to trade mix. The buoyancy in the global markets, especially the US, combined with favourable domestic cues is helping the markets to maintain the prevailing recovery. And, we expect the Nifty to regain momentum above the 18,100 level. In line with the trend, participants should look for buying opportunities on every dip and avoid contrarian trades.”- Ajit Mishra, VP – Research, Religare Broking Ltd

07:42 (IST) 1 Nov 2022
Asian markets trading largely higher

Shares in the Asia-Pacific were higher on Tuesday ahead of Australia’s central bank decision and the results of a private survey on Chinese factory activity. The Fed’s meeting also begins on Tuesday stateside. The Hang Seng index in Hong Kong briefly rose 2% in early trade, with Hang Seng Tech up 2.32%. Mainland China’s Shanghai Composite gained 0.23% and the Shenzhen Component added 0.519%. The Nikkei 225 in Japan was 0.19% higher while the Topix rose 0.36%.The Kospi in South Korea also rose 1.07%. In Australia, the S&P/ASX 200 rose 0.7%. MCSI’s broadest index of Asia-Pacific shares outside Japan was 0.74% higher.

First published on: 01-11-2022 at 07:39 IST