Indian markets open tad higher ahead of GDP data -- Zomato, SBI, NDTV, Britannia Industries among stocks to watch
- The 30-stock index Sensex opened 92 points higher at 62,770 while the Nifty50 opened 37 points higher at 18,655.
- SGX Nifty, an early indicator of how the markets may perform, was up 0.05% ahead of the markets opening on Wednesday.
- India’s Q2 GDP data that is set to release today will be closely watched by investors.
- Zomato, SBI, NDTV, Britannia Industries are among stocks to watch out for on Wednesday.
AdvertisementIndian benchmark indices opened with marginal gains on Wednesday, amid mixed global cues. The markets have hit all-time highs in the last two sessions.
The domestic Q2 GDP data that is set to release today will be closely watched by investors.
“Annual growth in the Indian economy likely slowed in the July-September quarter as Covid distortions faded, economists said ahead of GDP data due on Wednesday,” said Deepak Jasani, head of retail research at HDFC Securities.
SGX Nifty, an early indicator of Indian markets, was up 0.05% ahead of the markets opening on Wednesday.
The 30-stock index Sensex opened 92 points higher at 62,770 while the Nifty50 opened 37 points higher at 18,655.
On Tuesday, Sensex closed the day at 62,681, up 0.28%, while Nifty50 closed at 18,618, up 0.3%. Both the indices closed the day at a record high.
In the last five trading sessions, Sensex has gained 2.06%, while Nifty50 has gained 1.93%.
“Indian markets could open flat, in line with range-bound Asian markets today and despite mildly lower US markets on Tuesday,” said Jasani.
Rupee opened flat at 81.62 per US Dollar on Wednesday as against 81.6 on Tuesday. Brent crude oil prices rose more than 1% to $85.12, from $84 on Tuesday.
Most Asian indices were trading a tad higher with Taiwan TSEC 50 Index rising 0.52%, followed by China’s Shanghai SE Composite Index which was up 0.14%; Hong Kong’s Hang Seng rose by 0.13%. Investors remained nervous about rising restrictions in China which has led to public unrest.
AdvertisementInvestors at home and globally too are eyeing US Fed Jerome Powell’s speech at the Brookings Institution ahead of the Federal Open Market Committee (FOMC) meeting scheduled on 13-14 December.
US Markets closed flat on Tuesday with Dow Jones Industrial Average Index ending flat at 33,852.50 while S&P 500 closed 6.31 points lower at 3,957.
The tech-heavy Nasdaq Composite closed lower for a third straight session with a decline of 0.59% as protests continue in China against the country’s zero Covid-19 policy that could impact Apple’s production from the country.
Stocks in focus
Zomato: Chinese e-commerce giant Alibaba Group Holding is planning to sell around 3% stake in a food delivery platform worth $200 million through a block deal, says a report by Reuters.
NDTV: Founders Prannoy Roy and Radhika Roy have resigned as directors of promoter group vehicle RRPRH with immediate effect, the company said in a regulatory filing.
AdvertisementSBI: The State Bank of India’s board has approved raising ₹10,000 crore through infrastructure bonds during the financial year 2023.
Britannia Industries: The FMCG company has entered into a joint venture with French cheese maker Bel SA to develop, manufacture, market, distribute, trade and sell cheese products in India and certain other territories.
Stocks in the F&O ban on Wednesday
BHEL, Delta Corp, Indiabulls Housing Finance and PNB are the stocks in F&O ban period on Wednesday.
Source: NSE, Nifty50, as at 9:40 a.m., November 30, 2022
|Top gainers||Change||Top losers||Change|
|Hindalco Industries||1.56%||Power Grid Corporation of India||-0.57%|
|Dr Reddy’s Laboratories||1.14%||HCL Technologies||-0.48%|
|JSW Steel||1.11%||IndusInd Bank||-0.35%|
SEE ALSO: India Inc.’s rockstars of Q2 and things that investors should look out for, according to analysts
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