Barometers trade with major gains; Nifty above 17,900

31 Oct 2022 , 09:35 AM

The key equity indices were trading with strong gains in the early trade on buying demand in index pivotals. The Nifty traded above the 17,900 level. All the sectoral indices on the NSE were in the green. At 09:25 IST, the barometer index, the S&P BSE Sensex, was up 508.6 points or 0.85% to 60,468.45. The Nifty 50 index gained 160.10 points or 0.90% to 17,946.90. In the broader market, the S&P BSE Mid-Cap index rose 0.64% while the S&P BSE Small-Cap index gained 0.37%. The market breadth was strong. On the BSE, 1,852 shares rose and 756 shares fell. A total of 119 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 1,568.75 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 613.37 crore in the Indian equity market on 28 October, provisional data showed Stocks in Spotlight: NTPC slipped 1.64%. NTPC reported consolidated net profit of Rs 3417.67 crore in Q2FY23 from net profit of Rs 3690.95 crore reported in Q2FY22. Total income rose to Rs 44681.50 crore during Q2FY23 against Rs 33095.67 crore recorded in Q2FY22. Indian Oil Corporation (IOC) fell 0.44%. The company reported consolidated net loss of Rs 910.21 crore in Q2FY23 from net profit of Rs 6,235.39 crore reported in Q2FY22. Total income rose to Rs 2,33,800.98 crore during Q2FY23 against Rs 1,72,646.31 crore recorded in Q2FY22. Vedanta declined 1.86%. On consolidated basis, Vedantas net profit declined 53.71% to Rs 2,690 crore despite of 20.6% increase in revenue from operations to Rs 36,237 crore in Q2 FY23 over Q2 FY22. The mining company said that the increase in revenue was supported by higher sales volume, strategic hedging gains and foreign exchange gains; partially offset by lower commodity prices. Global markets: Asian stocks are trading mixed on Monday as China factory activity missed expectations, and as markets look ahead to the U.S. Fed meeting later this week. Chinas factory activity shrank in October compared with September, data from the National Bureau of Statistics showed. The official manufacturing Purchasing Managers Index print came in at 49.2, missing expectations for a reading of 50. In September, the PMI reading stood at 50.1. Chinas official non-manufacturing PMI came in at 48.7, compared with a print of 50.6 in September. A robust, broad-based rally sent the Wall Street to a sharply higher close on Friday as encouraging economic data and a sunnier earnings outlook fueled investor risk appetite ahead of next weeks much-anticipated two-day policy meeting of the Federal Reserve. Powered by Capital Market – Live News