The Nikkei is up 0.5% while the Hang Seng is down 0.4%. China’s Shanghai Composite is trading with a gain of 0.6%.
In US stock markets, Wall Street indices ended in negative territory on Wednesday as rise in consumer prices curbed risk appetite, fueled by heated inflation concerns.
The dollar stood at its highest after the hottest US inflation reading in a generation betting on rate hikes.
The Dow Jones fell 0.7% while the Nasdaq fell 1.7%.
Back home, Indian stock markets opened in the red after the SGX Nifty trend.
The market declined due to pressure from financial institutions and FMCG stocks.
Market participants will be tracking the stocks of Tata Steel, Godrej Consumer Products, Piramal Enterprises and Balkrishna Industries as these companies announce their September quarter results today.
BSE Sensex is trading down 407 points. Meanwhile, NSE Nifty is trading with a fall of 131 points.
Titan is one of them top beneficiary Today. On the other hand, Tech Mahindra and HDFC are among the top losers today.
BSE Mid Cap Index is trading with a decline of 0.2%. BSE Small Cap Index is trading on a flat note.
Sectoral indices are trading on a mixed note with the banking sector and FMCG sector seeing the most selling pressure.
On the other hand, consumer durables shares are trading in the green.
Shares of Bata India and Bajaj Holdings hit a 52-week high today.
Rupee is trading at 74.45 against US Dollar.
Gold prices up 0.2% 48,926 per 10 grams.
Crude oil prices are stable today after falling in the previous session, on concerns that rising inflation in the US could be driven by climbing energy costs, prompting the government to release more strategic crude reserves to shore up prices. can inspire.
Coming to the current stock market scenario, despite the BSE Smallcap index rising over 1.8x, Richa Agarwal, Head of Smallcap Analyst at Equitymaster, believes small cap stocks are expected to grow massively in 2021 and beyond. are ready for
Why here…
NS Smallcap to Sensex Ratio It has increased from 0.32 times to 0.48 times. This compares to the long-term median of 0.43 times. After the recent rise in the Sensex, it has dropped from 0.51 in August 2021.
More importantly, it is significantly lower than the previous peak ratio: 0.76 in September 2005, 0.68 in January 2008, 0.55 in September 2010 and 0.58 in January 2018.
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This relative valuation indicator suggests that there is still a lot of juice in the rally.
In finance sector news, collection capacity for securitized retail pools generated by non-banking finance companies (NBFCs) and housing finance companies (HFCs) improved significantly due to the continued decline in fresh COVID-19 infections during the September quarter.
Rating agency ICRA said in a note that collection efficiency, including overdue collections, for the most affected asset classes approached 100% in September 2021, from a low of 80% seen in May 2021.
Collections in the housing loan segment continued to be good, while commercial vehicle (CV) loans also improved by over 100% till September 2021.
It was inspired by high inter-state movements on the revival of businesses.
The 90-day plus delay also registered a decline to September 2021 compared to the peak seen in May 2021, but much higher than pre-Covid levels for most asset classes.
Another sign that asset quality was improving is that most lenders reported lower bounce rates in their portfolios, due to improved collections on the back of uninterrupted operating activities.
The rating agency observed that with the restoration of normalcy in business and operating activities, the collection performance of retail pools remained safe after the first wave and was better than the pools generated before the same.
We will keep you informed about the latest developments in this field. stay tuned.
Stocks are moving up on specific news…
Zomato is one of the top buzzing stocks today.
Online food delivery firm Zomato said its revenue from operations jumped 10.2 billion for the quarter ended September 2021 4.3 billion a year ago.
However, despite more than doubling of revenue, its losses soared to 4.3 billion 2.3 billion in the year-ago period.
Zomato, which had a great debut on the stock exchanges in July this year, posted a revenue of Rs. 8.4 billion in the first quarter ended June 30.
The company attributed the increase in losses to rising spending on branding and marketing for customer acquisition, higher investment and increasing share of small and emerging sectors in the business, and increase in distribution costs due to unpredictable weather and rise in fuel prices.
Zomato also announced plans to deploy US$1 bn in startups over the next few years. It also announced major investments in three companies – logistics aggregator ShipRocket, local shopping and savings platform MagicPin as well as fitness startup CultFit, formerly known as CureFit.
With this, Zomato has now committed US$275m across four companies in the last six months, including an investment in Grofers.
The series of new investments follows a series of changes this year including a clean-up exercise, as part of which it closed its international operations in the US, UK, Ireland and Singapore.
The food delivery platform reported an increase in order value along with its transacting users in the last quarter. This is a trend that has been observed since last one year.
The share price of Zomato is currently trading with a gain of 3%.
(This article is syndicated from) Equitymaster.com,
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