Sensex, Nifty50 open higher amid positive global cues: Nykaa, Inox Green, Adani Enterprises among stocks in focus
- Indian benchmark indices opened higher on Wednesday amid positive global cues.
Sensexopened 0.59% up at 61,779, the 50-stock Nifty50opened 0.44% up at 18,325.
- Nykaa, Inox Green, Adani Enterprises, Vodafone Idea and others are amongst the stocks in focus on Wednesday.
AdvertisementIndian benchmark indices opened higher on Wednesday amid positive global cues as well as SGX Nifty, an early indicator of how the Indian markets may perform. SGX Nifty was up 0.31% on Wednesday early morning.
While the 30-stock Sensex opened 360 points higher at 61,779, the 50-stock Nifty50 opened 81 points up at 18,325.
On Tuesday, the Sensex closed 274 points higher at 61,419 while the Nifty50 ended the day 84 points up at 18,244. In the last five days, Sensex and Nifty50 have fallen 0.6%.
“Indian markets could open mildly higher, in line with mostly higher Asian markets today and positive US markets on Tuesday,” said Deepak Jasani, head of retail research at HDFC Securities.
Asian markets were trading higher despite economic challenges in China because of rising COVID-19 cases. Japan’s Nikkei 225 was up 0.61%, Hong Kong’s Hang Seng was up 0.23%, Taiwan TSEC 50 Index traded 0.58% higher and China’s Shanghai SE Composite Index was up 0.11%.
Brent crude oil prices were flat on Wednesday morning, hovering around $87.6 per barrel after reports that China has paused some crude oil purchases from Russia ahead of the US-led price cap.
Indian rupee opened on a weak note at 81.80 per US dollar, as against its Tuesday close of 81.67.
US markets close on a positive note
US markets closed on a positive note on Tuesday on indications that the US Fed is open to slowing down the pace of interest rate hikes if needed.
While the Dow Jones Industrial Average (DJIA) gained 1.18% to close at 34,098, the S&P 500 recorded its best closing in over two months with gains of 1.36%, ending the day at 4,004. The tech-heavy Nasdaq also gained 1.36%, closing at 11,174.
Stocks to watch today
Nykaa: FSN E-Commerce Ventures, which operates under the Nykaa brand said on Tuesday that its chief financial officer Arvind Agarwal has resigned from the company.
AdvertisementInox Green Energy: Shares of the company will be listed on the stock exchanges today. The issue price was set at ₹65 per share, with an issue size of ₹740 crore. It received a 1.55x subscription.
Adani Enterprises: Its board will meet on November 25 to consider a fundraising proposal via a further public offering, preferential allotment via a qualified institutional placement (QIP), or other modes.
Vedanta: Billionaire Anil Agarwal led mining company Vedanta Group on Tuesday announced a third interim dividend of ₹17.50 per share for FY23. The dividend will amount to ₹6,505 crore.
Vodafone Idea: Lost 4 million subscribers in September 2022, while its rivals Reliance Jio and Bharti Airtel added 0.7 million and 0.4 million subscribers, respectively.
Bharti Airtel: Its data centre subsidiary Nxtra will invest ₹600 crore to set up a new hyper-scale data centre in Kolkata.
AdvertisementTech Mahindra: State-run insurer Life Insurance Corporation of India increased its stake in Tech Mahindra by 2.01%, increasing its shareholding from 4.86% to 6.87%.
Stocks removed from F&O ban
Punjab National Bank, Indiabulls Housing Finance, Escorts, Sun TV Network, and Gujarat Narmada Valley Fertilizers have been removed from the list of stocks banned in the F&O segment.
SEE ALSO: FPIs pour ₹11,452 crore in financial services in the first half of November
Capital-intensive, cyclical and value stocks to continue their outperformance
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