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In early trades, the Nifty auto index lost 1.6%. Tata Motors Ltd was the top loser on the Nifty 50 index, falling 4%.
U.S. Federal Reserve officials have showed no intention of backing down from the most aggressive rate hike campaign in decades, emphasising that the inflation fight was ongoing.
Domestically, corporate earnings will be among the drivers for markets in the next few weeks, with IT service provider Tata Consultancy Services on Monday set to kick off earnings season when it reports quarterly results later in the day.
Meanwhile, a Reuters poll found India’s retail inflation accelerated to a five month high of 7.30% in September due to surging food prices, staying well above the Reserve Bank of India’s (RBI) upper tolerance band for a ninth month.
The data is due after market hours on Wednesday.
Among individual stock moves, IDBI Bank surged 11% after the government said on Friday it was looking to sell a 60.72% stake in the bank and invited expressions of interest.
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Top 5 losers from the NBFC pack
Price as on 10 Oct, 2022 11:59 AM, Click on company names for their live prices.
Gravita India announced that its subsidiary in Senegal, West Africa has started commercial production of aluminium from a new recycling plant. The company is expecting an additional revenue of approx. Rs 60 crore per annum with gross margins of ~ 20% from the new capacity. The group has made investments of approx. Rs 3.50 crore.
Price as on 10 Oct, 2022 11:44 AM, Click on company names for their live prices.
NMDC says lump ore price fixed at Rs 4,100/ton from Oct 8
Price as on 10 Oct, 2022 11:20 AM, Click on company names for their live prices.
Paytm annualised run rate of loan disbursals touches Rs 34,000 cr in Sep
The company had posted an annualised run rate of loan disbursals of about Rs 29,000 crore in August.
“Our loan distribution business (in partnership with top lenders) continues to witness accelerated growth with disbursements through our platform now at an annualised run rate of Rs 34,000 crore in the month of September,” the company said in a regulatory filing.
![Paytm annualised run rate of loan disbursals touches Rs 34,000 cr in Sep](https://forexcryptonews.com/wp-content/uploads/2022/10/etlogo.jpg)
Artson Engineering said it got an order worth Rs 42.76 crore from a subsidiary of Adani Enterprises; stock surges 5%
Price as on 10 Oct, 2022 10:54 AM, Click on company names for their live prices.
Easy Trip approve stock split & bonus issue of shares. The company allows splitting of shares into face value of Re 1 from Rs 2 earlier. It also approved issue of bonus share in 3:1 ratio.
Price as on 10 Oct, 2022 10:40 AM, Click on company names for their live prices.
Ramkrishna Forgings bags export order worth Rs 131.5 crore for North American HCVs application from TIER 1 Rear & Front Axle manufacturer
Price as on 10 Oct, 2022 10:36 AM, Click on company names for their live prices.
Tracxn Technologies IPO kicks off: Here’s what brokerages have to say
The company will not receive any proceeds from the issue and the entire sum will go to the selling shareholders. The company said it intends to gain the benefits of listing the shares on the stock exchanges. Founded in 2013, Tracxn Technologies has an asset-light business model. The company said it has raised Rs 139.22 crore from anchor investors.
![Tracxn Technologies IPO kicks off: Here's what brokerages have to say](https://forexcryptonews.com/wp-content/uploads/2022/10/etlogo.jpg)
The proximity of the 200 day SMA at 16982 lends an opportunity for bulls to regroup. However, it would require a pull back above 17160 to serve as confirmation,in which case, we may get back to 17300 right away andthe return to 18115 trajectory depends on this. Alternate Scenario sees 16400, should we fail to close above 17160.
– Anand James – Chief Market Strategist at Geojit Financial Services
Shreeji Translogistics adds united parcel service as client in Bonded Trucking Division; services to UPS expected to yield annual revenue of about Rs 25-30 million
Price as on 10 Oct, 2022 10:24 AM, Click on company names for their live prices.
Reliance Industries Ltd (RIL) and Reliance Jio are in talks with lenders to raise up to $1.5 billion (about Rs 12,400 crore) and around $2.5 billion (about Rs 20,600 crore), respectively, in foreign loans, said people familiar with the matter.
Price as on 10 Oct, 2022 10:02 AM, Click on company names for their live prices.
One 97 Communications says Q2 merchant payment volumes up 63% YoY
- Loan disbursals at annualised run rate of $4.1 billion in September.
- Total number of devices deployed exceeded $4.8 million in September.
- Paytm super-app average monthly transacting users at $79.7 million for Sept-quarter, up 39% Y/Y.
- 63% Y/Y Increase in merchant payment volumes for Sept-quarter at $39 billion.
A Rs 12,000 crore IPO fest’s coming to Dalal Street
A flurry of primary share issues is set to hit the market in the next one month with over a dozen companies gearing up to raise nearly Rs 12,000 crore through initial public offerings, according to bankers.
![A Rs 12,000 crore IPO fest's coming to Dalal Street](https://forexcryptonews.com/wp-content/uploads/2022/10/etlogo.jpg)
RBI sells dollars as rupee hits record low on U.S. rate hike woes
Source: Reuters
![RBI sells dollars as rupee hits record low on U.S. rate hike woes](https://forexcryptonews.com/wp-content/uploads/2022/10/etlogo.jpg)
The government said on Friday it is looking to sell a 60.72% stake in $5.6 billion IDBI Bank and has invited expressions of interest.
Price as on 10 Oct, 2022 09:41 AM, Click on company names for their live prices.
MARKET VIEW: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Q2 results starting today with TCS would influence IT stock movements. The management commentary would be more important than the results.
Since the dollar index and US bond yields are rising again, FIIs may continue to sell. This will provide opportunities for long-term investors to buy high quality stocks, particularly in financials.
Jaiprakash Associates to divest cement business; Adani Group front runner to acquire cement assets
Price as on 10 Oct, 2022 09:20 AM, Click on company names for their live prices.
OPENING BELL: Sensex tanks 700 points, Nifty nears 17,100; IDBI Bank surges 10%, Asian Paints falls 2%
![OPENING BELL: Sensex tanks 700 points, Nifty nears 17,100; IDBI Bank surges 10%, Asian Paints falls 2%](https://forexcryptonews.com/wp-content/uploads/2022/10/etlogo.jpg)
What’s driving rupee lower?
“The double whammy of higher U.S. rates and higher crude prices is back to haunt the rupee,” said IFA Global Research Academy. “While the RBI was able to defend the rupee successfully through the last round of simultaneous stress on current and capital account by spending it’s reserves, this time around things are likely to be different.”
FOREX WACTH | Rupee opens at a record low of 82.64 against US Dollar
#MarketsWithETNOW | Rupee opens at a record low of 82.64 against US Dollar #RupeeVsDollar #USDINR https://t.co/afuBYBJTcG
— ET NOW (@ETNOWlive) 1665372962000
Pre-open session: Sensex slumps over 650 points; Nifty below 17,090
JP Morgan on Tata Motors
#BrokerageRadar | JP Morgan on @TataMotors: Downgrade to Neutral from Overweight; Zero net debt target could get pu… https://t.co/9pO7nJGvEu
— ET NOW (@ETNOWlive) 1665367398000
Stocks slip in Asia, brace for CPI and earnings
Stocks slipped in Asia on Monday after a surprise drop in U.S. unemployment quashed any thought of a pivot on policy tightening ahead of a reading on inflation which is expected to see core prices move higher again.
SGX Nifty signals a gap-down start
Nifty futures on the Singapore Exchange traded 283 points, or 1.63 per cent, lower at 17,031, signaling that Dalal Street was headed for a negative start on Monday.
Tech View: Nifty forms long bull candle on weekly charts
As Nifty ended the week 1.29% higher on Friday, a long bull candle with upper and lower shadow was formed on the weekly scale. Analysts said this could be a confirmation of the bullish hammer pattern formed in the last week.
Wall Street ends sharply lower as jobs report cements rate hike regime
Wall Street fell sharply on Friday following a solid jobs report for September that increased the likelihood the Federal Reserve will barrel ahead with an interest rate hiking campaign many investors fear will push the U.S. economy into a recession.
Oil jumps 4% to 5-week high lifted by OPEC+ output cut
Oil prices jumped about 4% to a five-week high on Friday, lifted again by an OPEC+ decision this week to make its largest supply cut since 2020 despite concern about a possible recession and rising interest rates.
Rupee slides to all-time low of 82.30 against dollar
The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit.
Sensex, Nifty on Friday
The 30-share Sensex fell 31 points to end at 58,191. Its broader peer, Nifty50, ended at 17,314, down 17 points.
Good morning, dear reader! Here’s something to kickstart your trading day
![Good morning, dear reader! Here's something to kickstart your trading day](https://forexcryptonews.com/wp-content/uploads/2022/10/etlogo.jpg)
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