Stock market updates on October 31, 2023: Fronline indices are likely to extend the pullback in early deals on Tuesday following the sharp rally in the US market.
At 07:00 AM, Gift Nifty futures quoted at 19,235 as against Nifty50 close of 19,141 yesterday.
Overnight the Wall Street ended with strong gains as crude oil prices dipped and yen rose to a two-week high versus dollar after reports suggested that the Bank of Japan was considering tweaking its yield curve control policy.
Brent Crude Oil prices tumbled over 3 per cent to $86.50-odd levels on Monday. Investors now await cues from the US Federal Reserve for its policy decision on Wednesday.
Cues from the Asia-Pacific region were mixed. The S&P/ASX 200 and All Ordinaries were up 0.4 per cent each, while Kospi slipped 0.5 per cent, and Nikkei was flat.
Among individual stocks, TVS Motors and Marico are expected to react to Q2 earnings this morning, while shares of Bharti Airtel, Gail, Indiabulls Realestate, IOC, Jindal Steel, Larsen & Toubro, MRPL, RITES, Star Health, Tata Consumer Products and VGuard will also be in focus ahead of results today.
Primary Market Update
Honasa Consumer IPO, the parent company of Mamaearth, to open for subscription today in the price band of Rs 308 – 324 per share.
Cello World IPO was subscribed 38 per cent at the end of Day 1 of the offer period on Monday. Retail portion saw bids up to 35 per cent of the reserved quota, while HNI segment was almost fully subscribed.