A firm start is likely for domestic markets ahead of the Reserve Bank of India’s interest rate decision. Experts widely anticipate the monetary policy committee to raise repo rates by 25 basis points to 6.5 per cent.
A firm start is likely for domestic markets ahead of the Reserve Bank of India’s interest rate decision. Experts widely anticipate the monetary policy committee to raise repo rates by 25 basis points to 6.5 per cent.
As of 7:40 am, the SGX Nifty hovered around 17,800 levels, up over 50-odd points.
Globally, the US markets turned positive overnight after the US Federal Reserve Chairman’s disinflationary comments. Dow Jones, the S&P 500, and NASDAQ Composite indices advanced up to 1.9 per cent.
Asia-Pacific markets, meanwhile, were mixed this morning, with the S&P 200, Kospi, and Kosdaq indices rising up to 0.9 per cent. On the contrary, Nikkei 225, Hang Seng, and Shanghai Composite indices lost up to 0.6 per cent.
Back home, the October-December quarter (Q3FY23) earnings season will continue to dominate market trends. Adani Power, Adani Wilmar, Trent, Cummins India, Shree Cements, Oberoi Realty, Escorts Kubota, among others will report the Q3FY23 quarter results today.
Among individual stocks, shares of Bharti Airtel will be closely tracked after the company’s net profit jumped 91.5 per cent year-on-year (YoY) to Rs 1,588 crore in Q3FY23.
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