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MARKET LIVE: Tepid open likely on grim global cues; SGX Nifty down 140pts


People walk past the Bombay Stock Exchange (BSE) building, in Mumbai (Photo: PTI)

A gap down open is on cards for the Indian equity amid weak global cues, firm dollar, higher yields, and muted foreign inflows. At 7:58 am, the SGX quoted at 17,358 levels, down 145 points.

That said, the quarterly earnings season will continue to be under limelight. Companies like Bajaj Finance, ITC, Axis Bank, Asian Paints, Tata Consumer, Canara Bank, United Breweries will report the July-September (Q2FY23) quarter results today.

Globally, the US shut shop red on Wednesday after the 10-year treasury yields climbed to 14-year high. Dow Jones, the S&P 500, and the NASDAQ Composite declined up to 0.8 per cent.

Asia-Pacific markets, too, lost in tandem as key indices like Nikkei 225, Kospi, S&P 200, and Kosdaq declined up to 0.9 per cent.

On the commodities front, prices of Brent Crude slipped 0.3 per cent to $92 per barrel on recession fears. 

Back home, shares of Ultratech Cement will be in focus after the cement maker registered a 42.5 per cent YoY decline in consolidated net profit to Rs 755.7 crore in Q2FY23.

Besides, shares of IndusInd Bank will be tracked after the lender reported 57 per cent YoY rise in standalone net profit to Rs 1,805.22 crore  in Q2FY23.


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