A host of factors such as July-September quarter earnings, trends in COVID-19 cases, newsflow related to coronavirus vaccine, oil price and rupee movement will sway the market sentiment today.
It was the biggest daily percentage gain for the S&P 500 since June 5 and for the Nasdaq, since April 14.
Headline indices BSE Sensex and Nifty 50 are likely to carry the gaining momentum for the fourth day today, with SGX Nifty signalling at a positive opening for BSE Sensex and Nifty 50 on Wednesday. Nifty futures were trading 22 points up at 11,929 on Singaporean Exchange. A host of factors such as July-September quarter earnings, trends in COVID-19 cases, newsflow related to coronavirus vaccine, oil price and rupee movement will sway the market sentiment today. “Markets are closely following global cues and indications are still mixed from that front. Despite the positive bias, we might continue to see volatile swings so traders should prefer hedged positions and maintain their focus on the selection of stocks,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
Reliance Industries: Qualcomm Technologies, Inc. and Jio Platforms Limited (Jio) along with its wholly-owned subsidiary Radisys Corporation announced their expanded efforts to develop open and interoperable interface compliant architecture based 5G solutions with a virtualized RAN.
IndusInd Bank: BofA Securities Europe SA bought 11.73 lakh shares of IndusInd Bank from Morgan Stanley Asia (Singapore) PTE at Rs 626.85 per share.
Vedanta: Moody’s Investors Service on Tuesday placed Vedanta Resources’ rating under review for downgrade following its failed attempt to delist the Indian listed subsidiary. Moody’s placed the London-based firm’s B1 corporate family rating (CFR) under review for downgrade.
Spicejet: SpiceJet on Tuesday announced the launch of 62 new flights, including four international services to Muscat from Delhi and Ahmedabad and back, starting Thursday under the air bubble agreement with Oman.
Tata Metaliks:Tata Steel subsidiary Tata Metaliks (TML) reported a 250% jump in its net profit at Rs 82 crore for the quarter up to September FY 21, as against a net profit of Rs 23.39 crore during the corresponding period last fiscal. The jump came on the back of increased supplies of pig iron and ductile iron (DI) pipes after a muted performance in the first quarter due to the lockdown.
Motherson Sumi Systems: Motherson Sumi Systems Limited (MSSL), via its Mexican subsidiary, Motherson Rolling Stocks S. de R.L. de C.V. (MRS), has signed an asset sale and purchase agreement to acquire the activities of Electrical Wiring Interconnection Systems (EWIS) performed at Bombardier Transportation’s manufacturing site in Huehuetoca, Mexico (BT Ensambles México), company informed in a BSE filing.