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Business
oi-Sneha Kulkarni
On Thursday, the weekly F&O expiration day, the national stock markets BSE Sensex and Nifty 50 were trading at new highs. BSE Sensex crossed 61,000 for the first time and NSE Nifty crossed 18,250 for the first time
Wholesale price inflation, the trade balance, and export and import figures will be revealed later today and the markets will be watching them closely.
State Bank of India (SBI) stock hit a new high of 491.90 on the NSE today, driven by strong second quarter earnings guidance.
Data on initial jobless claims in the United States, as well as the PPI, will be monitored. The positive results of Infosys and Wipro have given them a good start in the market. Due to Dussehra, Indian markets will be closed on Friday.
On Thursday, the dollar fell to its lowest level this week against its main rivals, pausing after a surge that had propelled it to a one-year high in anticipation of a faster interest rate hike of the Federal Reserve.
Infosys, the country’s second-largest exporter of software services, beat street forecasts on all fronts in July-September profits on Wednesday. Based on strong and sustained business momentum, the company increased its revenue forecast for the full year to 16.5-17.5%, from 14-16% previously forecast.
Wipro announced a 17% increase in its consolidated net profit for the quarter ended September 30, 2021, to Rs 2,930.6 crore. In the same period a year ago, the company made a net profit of Rs 2,484.4 crore.
Article first published: Thursday, October 14, 2021, 11:41 AM [IST]
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