Indian shares rose on Monday as gains in the second-largest private lender ICICI Bank on better-than-expected quarterly profit spurred a rise in heavyweight financials. NSE Nifty 50 rose 1% at 22,643, while the S&P BSE Sensex added 1.28% to 74,671. Analysts expect the market to continue its upward trend with key indicators showing positive signals. US and European markets also showed positive momentum.
Equity markets ended higher in a volatile trade on Monday, but the broader market continued to underperform. Analysts expect the markets to consolidate over the next few days while the broader market may continue to remain subdued. Here’s a breakdown of the pre-market actions, state of the markets, US stocks, Asian shares, and other relevant updates.
Nifty ended flat with a gain of 1 point, awaiting an upside breakout. Artisan Partners divested a 1.2% stake in Indus Towers. S&P 500 hits a fresh record high. Vedanta considers minority stake sale in Zambian copper assets. Apollo Tyres’ Q3 net profit jumps 78%. Alibaba misses revenue estimates, boosts share buyback. Sobha’s net profit falls 53%. Foreign portfolio investors turn net sellers. JK Paper reports a 29% decline in net profit. Oil prices rise on lower-than-expected rise in US crude stockpiles. Get all the latest updates on the stock market.
Nifty formed a Doji candle on the daily chart, US stocks opened higher, FPIs emerged as net sellers for the third consecutive day, and Nifty Bank dropped over 4% in a week. Paytm announced its Q3 results with key highlights.
