Stock Market Live 28 Oct: Indices are flat, Banks are trading lower.

 

It was a positive start amid negative cues from the Asian markets. The Nifty opened at 11922.60 made a positive opening of 33.2 points from the previous close while Sensex opened at 40664.35 made a gap opening of 142.65 points. The Bank Nifty on the spot levels opened at 24737.85 levels made a negative opening of 31.65 points from the previous close.

At 9.55 am IST, the Nifty and Sensex are trading flat while Bank Nifty is trading 0.85%  lower at this moment.

Bharti Airtel, Hero Motocorp, and M&M are trading as the top gainers in the Nifty index whereas Kotak Mahindra, HDFC, and Ultratech Cement are trading as the top losers. Bharti Airtel, Hero Motocorp, and Reliance are trading as the most active stocks in the NSE.

On a sectoral basis, Automobiles, Metals, and Infrastructure sectors are trading as gainers whereas Banking & Finance, FMCG, and IT sectors are trading marginally lower.

 

Asian market cues are negative today, Indian markets may open in the red.

 

Good morning and welcome to the stock market live morning updates for 28 Oct at 8 am IST

Asian markets are trading in the red zone today. Nikkei and Hang Seng are trading lower by 0.35% and 0.54% while Shanghai is trading 0.39% down at 8 am IST. The SGX Nifty is trading lower by 43 points or 0.36%. The Asian market cue indicates a negative opening for the Indian markets today.

The US markets closed mixed on Tuesday after as investors are worried about the increase in new coronavirus cases and global economic outlook. The Dow and S&P 500 declined by 0.80% and 0.30% while Nasdaq closed higher by 0.64% on 27 October.

European markets closed lower on Tuesday as traders are concerned about the economic fallout of tighter coronavirus restrictions in the region. Traders overlooked the better than expected corporate earnings reports. The European market indices FTSE and CAC declined by 1.09% and 1.77% respectively while DAX fell 0.93% on 27 October.

In India, markets gained on MSCI news and on hopes of a new stimulus package ahead of Diwali. The Nifty and Sensex gained 1.03% and 0.94% respectively. FIIs were the buyers whereas DIIs were the seller in the cash market on Tuesday. FIIs bought Rs 3514.89 crore while DIIs sold Rs 1570.80 crores in the cash market on Tuesday.

 

 

News that may influence stock market live today

 

On Tuesday Finance Minister Nirmala Sitharaman said there were visible signs of revival in the economy but GDP growth may be in a contraction zone or near zero in the current financial year. She has also said that the demand has picked up during the festive season.

On 27 October, Commerce and Industry Minister Piyush Goyal said at 4th India Energy Forum CERA week that India’s service exports were over 90%.  India fulfilled every single service commitment to companies around the world even during the lockdown period.

The US consumer confidence dipped in October due to the second wave of coronavirus infection appearing across the country. The consumer confidence index fell to 100.9 from 101.8 in September, but still well below the pre coronavirus levels.

Today’s result- Axis Bank, L&T, Hero MotorCorp, Dr. Reddy’s Lab, Titan Company, IIFL, MCX, Blue Star, Aptech, Apollo Tubes, AU Small Finance Bank, etc.

You can read more stock market live updates after the market gets open

 

You may also like to read, Nifty & Bank Nifty futures prediction 28 Oct 2020

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Happy Investing !!

Editor’s Desk