Sensex Opens Higher, Nifty Nears 17,800; Tata Chemicals Falls 4%

Sensex Today: Equity markets opened on a positive note Friday. Key indices Nifty50 climbed 40 points to trade above 17,750 levels and the S&P BSE Sensex climbed 200 points to trade at 59,977 levels.

The broader markets, however, were subdued in trade as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped up to 0.04 per cent.

All sectors started trade on a volatile note. Nifty Auto and Nifty FMCG indices led the charge as they surged up to 0.5 per cent.

Among individual stocks, shares of Maruti Suzuki gained over 1 per cent ahead of the July-September quarter (Q2FY23) results due on Friday, October 28.

Besides, profit-booking was seen in SBI Cards as shares plunged over 6 per cent after the company reported 52 per cent YoY jump in net profit Rs 526 crore in Q2FY23

Global Cues

Global markets, however, remain subdued. Shares in the Asia-Pacific fell this morning with Australia’s S&P/ASX 200 down 0.49 per cent. The Nikkei 225 in Japan, too, fell 0.65 per cent in early trade, while the Topix 0.12 per cent lower. South Korea’s Kospi was fractionally higher. MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.26 per cent.

Futures tied to the Nasdaq dropped 0.7 per cent. Dow Jones Industrial Average futures fell 0.5 per cent, and S&P 500 futures lost 0.1 per cent early today.

Overnight, the Dow Jones Industrial Average settled 0.61 per cent up; the S&P 500 lost 0.61 per cent; and the Nasdaq Composite dropped 1.63 per cent as investors contended with solid economic data and a mixed bag of corporate earnings.

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