Stock Market live today 29 Oct:  Markets are trading lower, Infra stocks are down

 

Indian markets opened lower as global cues are negative due to the surge of coronavirus cases in Europe and the US. The Nifty opened at 11633.30 levels made a gap down opening of 96.3 points while Sensex opened negative 385.59 points negative at 39537.17 levels. The Bank Nifty on the spot levels opened at 24063.50 levels made a gap down opening of 169 points.

At 10 am IST, Sensex and Nifty are trading lower by 0.32% and 0.38% respectively whereas Bank Nifty on the spot levels is 0.35% down.

Asian Paints, HCL Tech, and Axis Bank are trading higher in the Nifty index whereas L&T, Titan and ONGC are trading as the top loser. Axis Bank, Reliance, and L&T are trading as the most active stocks in the NSE at this moment.

On a sectoral basis, except IT & Software, Chemical sectors all other major sectors are trading in the red today. The infrastructure sector is down more than 2% followed by FMCG and Capital Goods

 

Indian stock market may start in the red today

 

Good morning and welcome to Stock market live morning updates for today 29 Oct at 8.10 am IST

Asian markets are trading in the red today tracking global peers. Nikkei and Hang Seng are trading lower by 0.67% and 1.09% respectively while Shanghai is trading 0.61% down today. SGX Nifty is trading 0.61% down today. Indian stock markets may start negative today as per the indication of the global market.

The U.S markets fell sharply on Wednesday as rising coronavirus infections shook investor’s confidence in the global economic recovery. The second wave of coronavirus infection cases climbed back above 70000 in the US as per yesterday’s data. The US market index Dow and S&P 500 fell 3.43% and 3.53% respectively while Nasdaq tanks by 3.73% on Wednesday.

The European markets closed in the deep red to its lowest level since late-May on fears of a new national lockdown in France. Traders are worried about the tighter restrictions imposed in other parts due to the recent surge in coronavirus cases. FTSE and CAC are closed lower by 2.55% and 3.37% respectively while DAX tanks 4.17% 

In India, markets closed on a negative note on 28 October. The Sensex and Nifty closed lower by 1.48% and 1.34% respectively. FIIs were sellers and DIIs were buyers in the cash market on 28 October. FIIs sold Rs 1130.98 crores while DIIs bought Rs 1.48 crores in the cash segment on Wednesday.

 

 

News that may influence the stock market live today

 

India’s financial conditions have witnessed a speedy recovery from the Coronavirus Pandemic after hitting low in April. Reserve Bank’s measures have helped mitigate the large and broad-based economic damage caused by the pandemic said by India’s rating agency CRISIL on 28 October. 

The U.S trade deficit in goods has narrowed sharply in September and inventories at retailers surged. The record economic growth in the third quarter met the expert’s expectations after hitting the worst performance. 

Today’s result- Maruti Suzuki, BPCL, Bank of Baroda, Canara Bank, TVS Motor Company, Vodafone Idea, Aegis Logistics, Apollo Pipes, Blue Dart Express, MRPL, Mahindra Holidays, etc.

Today is the monthly derivative expiry, so the Indian stock market will remain volatile, traders should remain cautious.

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

 

You may also like to read, Nifty, Bank Nifty futures for 29 Oct- Technical Analysis

                                          Nifty, Bank Nifty futures prediction for the week 26-30 Oct

 

Happy Investing!!

Editor’s Desk