Share Market Today News: Sensex rises over 250 factors in early commerce, Nifty above 17,550-mark on international cues

Market Today, BSE Nifty Share Price, October 19, 2022: The benchmark fairness indices – Sensex and Nifty – opened on a optimistic be aware on Wednesday monitoring their international friends.

At 9:24 AM, the S&P BSE Sensex was up 269.44 factors (0.46 per cent) at 59,230.04, whereas the Nifty 50 was at 17,561.05, up 74.10 factors (0.42 per cent).

On the Sensex pack, HDFC twins – Housing Development Finance Corporation (HDFC) and HDFC Bank, Power Grid Corporation of India, Larsen & Toubro (L&T), Mahindra & Mahindra (M&M) and Titan Company have been the highest gainers within the early offers whereas HCL Technologies, State Bank of India (SBI), Tata Steel, Infosys, Bajaj Finserv and Tata Consultancy Services (TCS) have been prime losers.

Commenting available on the market transfer, V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services mentioned, “There are two factors supporting the ongoing rally in the market: One, support from the mother market US aided by some excellent quarterly results and two, FII selling getting completely overwhelmed by DII buying. DIIs bought stocks for Rs 5,290 crores in the cash market during the last three trading days against FII selling of Rs 1,536 crores. This complete dominance of DIIs over FIIs is triggering short covering too. Good Q2 results are imparting resilience in segments like IT and financials. The festive mood is another positive. However, high global inflation and tightening central banks pose headwinds to the rally.”

Global markets (from Reuters)

Asian shares have been largely increased on Wednesday, with US company earnings aiding sentiment, whereas merchants awaited British inflation readings later within the day for clues on how hawkish central banks have to be to combat inflation.

MSCI’s broadest index of Asia-Pacific shares outdoors Japan edged up 0.2 per cent, however additional good points have been capped by slight falls in Chinese shares. China’s mainland bluechips misplaced 0.2 per cent whereas Hong Kong’s Hang Sang index fell 0.1 per cent.

Elsewhere, shares tracked Wall Street increased. Japan’s Nikkei superior 0.4 per cent, Australia’s resources-heavy shares gained 0.4 per cent, whereas South Korea rebounded 0.5 per cent. U.S. S&P 500 futures rose 0.8 per cent and the Nasdaq futures jumped 1.3 per cent.

Better-than-expected quarterly outcomes from Goldman Sachs Group Inc, Johnson & Johnson and Lockheed Martin helped US shares rally. Both the Dow Jones and the S&P 500 gained 1 per cent.