Asian share markets climbed cautiously today amid hopes that the Federal Reserve might sound less aggressive about rate hikes this week.
The Nikkei rose by 1.6% while the Hang Seng was up by 0.8%. The Shanghai Composite is trading lower by 0.2%.
A robust, broad-based rally sent Wall Street to a sharply higher close on Friday as encouraging economic data and a sunnier earnings outlook fuelled investor risk appetite ahead of next week’s much-anticipated two-day policy meeting of the Federal Reserve.
The Dow Jones ended higher by 2.5% while the tech heavy Nasdaq Composite ended higher by 2.9%.
Back home, Indian share markets are trading on a positive note.
Benchmark indices opened on a strong note today following the trend on SGX Nifty. And as the session progressed, gains were extended.
At present, the BSE Sensex is trading higher by 555 points. Meanwhile, the NSE Nifty is trading up by 163 points.
Maruti Suzuki and M&M are among the top gainers today.
Tata Steel and ICICI Bank are among the top losers today.
Broader markets are trading on a positive note. The BSE Mid Cap index is up by 0.6% and the BSE Small Cap index is trading higher by 0.4%.
If you are looking for smallcaps, start your search with the fundamentally strong smallcap stocks that offer cushion in this volatile period.
Sectoral indices are trading on a positive note with the exception of metal stocks.
Stocks in the IT sector, and auto sector witness buying. Among the best auto stocks, M&M and Maruti are trading over 2% higher.
Shares of Maruti Suzuki and Eicher Motors hit their 52-week high today.
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In the commodity markets, gold prices trade higher by Rs 13 at Rs 50,243 per 10 grams.
Meanwhile, silver prices are trading lower at Rs 57,449 per 1 kg.
The rupee is trading at 82.4 against the US dollar. Recently, the rupee touched its record low. If you’re wondering how to profit from a falling rupee, check out our editorial on how a weaker rupee benefits you.
We all know that the big returns in share markets come from the small-cap stocks. If carefully invested, the return from this shares could be a fortune maker. However, you have to be careful.
You could be invested in the best of the businesses that are market leaders with exceptionally good balance sheets, return ratios and payouts, and yet could miss out on multibaggers of the decade if you do not ensure presence of this one quality in the companies you choose to invest in.
In the below video, Richa Agrawal talks about three smallcap growth stocks that have this one quality which could help these companies to grow at 15% or more.
Sanofi India share price tumbles on the bourses
In 2022 one of the worst hit sectors is pharma sector. As the market corrections started, pharma stocks started to fall.
Gland Pharma share price is falling while Lupin share price has also corrected.
We even covered detailed editorials on why shares of pharma companies are falling. You can check out the reason for the fall in Laurus Labs share price, the fall in Lupin share price, and the fall in Biocon’s share price.
Along with these, another pharma stock bleeding on the bourses in Sanofi India. Sanofi India’s share price is down 31% on a YoY basis.
A fundamentally strong stock is trading near its 52-week low.
To know more, read our article on why Sanofi India share price is falling.
Maruti Suzki posted its quarterly results
The auto major and electric vehicle (EV) battery maker – Maruti Suzuki posted its quarterly results.
The total net sales of the company stood at Rs 299.4 bn for the quarter ended September 2022. It is 45.7% higher compared to Rs. 205.5 bn reported in September 2021.
Its quarterly net profit stood at Rs. 21.1 bn for the quarter ended September 2022. It is 333.9% higher compared to the corresponding period of the last year.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs. 33.7 bn in September 2022 up 147.4% from Rs. 13.6 bn reported in September 2021.
Vedanta quarterly results
One Friday, the metal conglomerate – Vedanta, posted its quarterly results.
The total net sales of the company stood at Rs 170 bn for the quarter ended September 2022. It is 12.4% higher from Rs. 151.2 bn – the total net sale of for the quarter ended September 2021.
Its quarterly net profit stood at Rs. 61.3 bn for the quarter ended September 2022.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs. 77.5 bn in September 2022 up 44.13% from Rs. 53.8 reported in the corresponding period last year.
Its EPS has increased to Rs. 16.5 in September 2022 from Rs. 8.8 in September 2021.
Speaking of Vedanta, did you that it is one of the top five semiconductor stocks in India?
Another unit of Lupin under USFDA inspection
Lupin announced that the USFDA inspected company’s Nagpur Unit-2 injectable manufacturing facility from 17 October 2022 to 29 October 2022. The inspection was a Pre-Approval Inspection of the injectable facility. The inspection closed with issuance of a Form-483 with five observations.
The company said that it is committed to addressing the observations at the earliest, and gaining approval for injectable manufacturing for the U.S.
To know what’s moving the Indian stock markets today, check out the most recent share market updates here.
For information on how to pick stocks that have the potential to deliver big returns,
Indian Share Market Update: Top Gainers and Losers
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( With inputs from equitymaster)