BSE Sensex and Nifty 50 had been trading with practically one per cent or 138.50 points obtain at 17767 on Singaporean Exchange, on the day of weekly F&O expiry. In the earlier session, investors became poorer by Rs 2,57,785.17 crore as headline came below heavy sell-off tracking weak worldwide market place. Investors will keenly watch the Reserve Bank of India’s 3-day policy meeting, which started on Wednesday. “Domestic markets are expected to consolidate in a broad range following multiple global concerns and elevated valuations. It is likely to witness high volatility till some decision is reached over US debt ceiling over next two weeks. Even RBI’s MPC and TCS results, both due on Friday would add to the volatility,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, mentioned.
Stocks to watch
Nazara Technologies: Nazara Technologies announced that its board has authorized preferential allotment of fresh equity to raise Rs 315.30 crore from marquee institutional investors topic to the approval of the shareholders of the corporation and such regulatory/ statutory authorities as may possibly be applicable.
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Equitas SFB: Equitas Small Finance Bank (Equitas SFB) on Wednesday announced the launch of the ASBA facility on its net banking, mobile banking and UPI interface for its shoppers. ASBA — applications supported by blocked quantity — is a method necessary by stock market place regulator Sebi for applying for IPOs and FPOs.
Zee Entertainment Enterprises: ZEEL on Wednesday moved the National Company Law Appellate Tribunal (NCLAT)searching for more time to file its reply with regard to the petition filed by its shareholder Invesco Developing Market Funds for convening the extraordinary common meeting of the corporation (EGM). The corporation has also sought keep of the proceedings at the National Company Law Tribunal, till the appellate tribunal offers its final order. The petition is anticipated to come up for hearing prior to the NCLAT on Thursday.
Titan Company: Tata group firm Titan on Wednesday mentioned it has witnessed a powerful recovery in demand in the July-September quarter, and its sales in most of its divisions have either reached above or close to pre-pandemic levels.
Reliance Industries, SBI, Infosys: Moody’s Investors Service on Wednesday raised the rating outlook for 18 Indian corporates and banks, which includes Reliance Industries, Infosys, SBI and Axis Bank, to ‘stable’ from ‘negative’.
Bharti Airtel RE: Blackrock India Equities Fund (Mauritius) sold 25.50 lakh equity shares of Bharti Airtel rights entitlement at Rs 207.67 per share on the NSE, the bulk bargains information showed.
Tata Steel: Tata Steel on Wednesday reported a 7 per cent rise in consolidated steel output to 7.78 million tonnes (MT) for the July-September period this year. The company’s consolidated steel production was 7.25 MT in the very same period last year, Tata Steel mentioned in a statement.
Textile stocks: India’s higher-prospective but hugely fragmented and underachieving textile sector will get a shot in the arm with the Union Cabinet approving a scheme of seven mega textiles-and-apparel parks, to be supported by each the Centre and the respective state governments.