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Stock markets open on cautious note: Sensex below 61,000, Nifty down 51 points; Nykaa IPO opens today

09:24 AM Oct 28, 2021 | FPJ Web Desk

The stock market opened on a cautious note on Thursday (October 28) amid mixed global cues. The benchmark indices opened lower at the opening bell on the bourses.

At 09:16 AM, the Sensex was down 178.90 points or 0.29 percent at 60,964.43, and the Nifty was down 61.10 points or 0.34 percent at 18149.90. About 1,026 shares have advanced, 727 shares declined, and 86 shares are unchanged.

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Among early ganiers on the Nifty were IndusInd Bank, SBI Life Insurance, L&T, Bajaj Auto and Nestle. Early losers were Hindalco, Titan Company, ONGC, Adani Ports and ICICI Bank.

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Nykaa IPO opens today

Nykaa’s Rs 5,352 crore IPO is set to open today (October 28) at a fixed price band of Rs 1,085-1,125 per share. It will close on November 1.

Stocks to watch out for

Stock-specific actions can be witnessed in stocks such as Axis banks (Rajiv Anand elevated to deputy managing director of the bank. Anand was ED- wholesale banking at Axis Bank), Zomato (Zomato Ireland (Lebanon Branch) will shut down operations from December 15, 2021) and Bharti Airtel (Approved the allotment of 39.23 crore rights equity shares).

Key companies announcing their quarterly results today Bajaj Finserv, Tata Power, DLF, Marico, RBL Bank, Laurus Labs, NTPC and SBI cards etc.

US stocks close lower

The Nasdaq ended little changed on Wednesday, boosted by gains in Microsoft and Google parent Alphabet on the heels of their quarterly results, but a drop in oil prices and a pullback in Treasury yields weighed on cyclical sectors and pulled the S&P 500 lower.

The Dow Jones Industrial Average fell 266.19 points, or 0.74 percent, to 35,490.69, the S&P 500 lost 23.11 points, or 0.51 percent,, to 4,551.68 and the Nasdaq Composite added 0.12 point, or unchanged, to 15,235.84.

Asian markets shares fall

Shares in Asia-Pacific declined in Thursday morning trade as investors await the Bank of Japan’s latest monetary policy announcement.

The Nikkei 225 in Japan declined 1.2 percent, in early trade while the Topix index shed 1.13 percent,. Retail sales in Japan fell 0.6 percent, in September from a year earlier, according to government data released Thursday.

Japan’s retail sales fell for a second month in September as consumers limited spending amid concerns over the coronavirus pandemic, reinforcing expectations the world’s third-largest economy stalled in the third quarter.

Retail sales in September slipped 0.6 percent, from the same month a year earlier, government data showed on Thursday, better than economists’ median forecast for a 2.3 percent, decline in a Reuters poll. It followed a 3.2 percent, dip in August that marked the first year-on-year decline in six months.

Oil prices fall

Oil prices fell on Wednesday after US crude oil stockpiles rose more than expected, even as fuel inventories dropped and tanks at the nation's largest storage hub emptied further.

Brent oil futures ended down $1.82, or 2.1 percent,, to $84.58 a barrel, after closing at a seven-year high on Tuesday. US West Texas Intermediate (WTI) crude settled down $1.99, or 2.4 percent,, to $82.66 a barrel.

Forex surge

The country's foreign exchange reserves surged by $58.38 billion in April-September 2021 to $635.36 billion, says an RBI report released on Wednesday. The forex reserves were at $576.98 billion at end-March 2021.

The Reserve Bank of India (RBI) publishes half-yearly reports on management of foreign exchange reserves. These reports are prepared half yearly with reference to the position as at end-March and end-September each year.

Paytm IPO

Softbank-backed mobile payments firm Paytm's Rs 18,300 crore initial public offering will happen between November 8 and 10 at a price band of Rs 2,080-2,150 per share, according to sources privy to the development.

This is touted to be India’s largest market debut, a record that was previously held by Coal India, which raised Rs 15,000 crore over a decade ago.

The company which was earlier planning to raise Rs 16,600 crore revised the amount to Rs 18,300 crore following an increased investor interest. While the primary will continue to be Rs 8,300 crore, the additional amount will go to the offer for sale taking the overall sum to Rs 10,000 crore.

Results today

Bajaj Finserv, NTPC, Tata Power, DLF, InterGlobe Aviation, Marico, RBL Bank, AAVAS Financiers, Adani Green Energy, APL Apollo Tubes, Adani Total Gas, AU Small Finance Bank, Blue Star, CarTrade Tech, Chalet Hotels, Chemcon Speciality Chemicals, Dishman Carbogen Amcis, Edelweiss Financial Services, Gujarat Gas, HSIL, Indian Bank, Infibeam Avenues, JK Tyre & Industries, Laurus Labs, Mahindra &Mahindra Financial Services, Motilal Oswal Financial Services, Reliance Infrastructure, SBI Cards and Payment Services, Sudarshan Chemical Industries, UCO Bank, UTI Asset Management Company, Welspun Corp, and Westlife Development.

Four stocks under F&O ban

Four stocks - Indiabulls Housing Finance, Canara Bank, NMDC and Sun TV Network - are under the F&O ban.

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