The Hang Seng fell 2.5% while the Nikkei is trading down 1.2%. The Shanghai Composite is up 0.9%.
In US stock markets, Wall Street indices edged higher on Friday, entering the final quarter of 2021 on a buying mood buoyed by developments in Washington on positive economic data and a possible passage of the infrastructure bill.
The Dow Jones Industrial Average rose 483 points, or 1.4%, while the Nasdaq Composite gained 0.8%.
Back home, Indian stock markets have opened on a positive note after the SGX Nifty trend.
BSE Sensex is trading up 351 points. Meanwhile, NSE Nifty is trading with a gain of 98 points.
NTPC and M&M are among them top beneficiary Today. On the other hand, Tata Steel is the biggest loser today.
BSE Mid Cap Index and BSE Small Cap Index opened with gains of 0.8% and 1% respectively.
All sectoral indices are trading in the green and pharma sector and realty sector are the biggest buyers.
Shares of Tata Investments and Abbott India hit a 52-week high today.
Rupee is trading at 74.17 against US Dollar.
Gold prices are trading up by 0.1% ₹46,283 per 10 grams.
Meanwhile, silver prices are trading with a fall of 0.1%. ₹60,513 per kg.
Gold hit a nearly two-week peak today as the dollar weakened, as the US Federal Reserve may soon begin to reduce its pandemic-era asset purchases.
Crude oil prices fell today ahead of an Organization of Petroleum Exporting Countries (OPEC+) supply policy meeting, which may decide whether to sustain the recent rally in prices as the world recovers from the Covid-19 pandemic. She goes.
In the news of the automobile sector, Hero MotoCorp and Eicher Motors are among the top buzzing stocks today.
Hero MotoCorp, India’s largest two-wheeler maker, reported a 25.9% decline in overall sales at 5,30,346 units in September. The company had sold 7,15,718 units in the same month last year.
The company’s wholesale sales in the domestic market declined to 5,05,462 units last month as against 6,97,293 units in September 2020.
However, exports rose to 24,884 units last month as against 18,425 units in the year-ago period.
Meanwhile, Eicher Motors subsidiary VE Commercial Vehicles (VECV) sold 6,070 commercial vehicles in September 2021, registering a year-on-year growth of 73.1%.
Eicher Motors’ unlisted subsidiary VECV had sold 3,506 commercial vehicles in September 2020.
Commercial vehicles sales are up 26.6% as compared to 4,793 units sold in August 2021.
Total exports grew by 54.5% to 788 units in September 2021 as compared to September 2020.
Sales of Volvo trucks and buses remained steady at 56 units.
Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles.
Share price of Eicher Motors opened with a decline of 0.5% on the day.
Speaking of Eicher Motors, note that Siddhartha Lal is credited with turning the fortunes of Eicher Motors around through his razor-sharp focus on building the Royal Enfield brand and a joint venture deal with Swedish truck and bus maker Volvo. goes.
When Siddhartha Lal entered the family business in the year 2000, Eicher’s management was investigating the sale or closure of the Royal Enfield business.
This was because Royal Enfield’s motorcycle sales at that time totaled 2,000 units per month.
From 2,000 units in the year 2000, Royal Enfield currently sells an average of 70,000 units per month.
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A few months of sales were affected in the last one year due to the effect of the nationwide lockdown.
Moving from the IPO segment to the news, the primary market is gearing up for a flurry of initial public offerings (IPOs) in the October-December period.
35 companies planning to set records ₹800 billion in the third quarter. In comparison, the previous record for a calendar year was in 2017 when 36 companies mobilized ₹671.5 billion
Paytm, Aadhar Housing Finance, Star Health & Allied Insurance, Policybazaar, Emcure Pharma, Adani Wilmar and Nykaa are the most awaited ones.4
Meanwhile, Paradip Phosphate, Vedanta Fashion, CMS Infosystems and Northern Arc are also expected to enter the primary markets.
Policybazaar and Nykaa are likely to launch their IPOs this month.
With equity markets trading at record high levels, market experts suggest that the IPO enthusiasm is likely to continue in the coming months with adequate liquidity.
There is also strong support from Foreign Portfolio Investors (FPIs).
42 companies have been hit so far this year main market, make a record ₹696.8 billion
FPIs contributed about 55% of the funds raised in IPOs so far in 2021.
How the IPO activity progresses amid renewed interest from investors remains to be seen.
(This article is syndicated from) equitymaster.com)
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