Stock Market Live: GIFT Nifty Near 24,100; Bandhan Bank, Coal India, Torrent Pharma Share Prices In Focus

The GIFT Nifty was trading near 24,100 in early trade on Monday. The prices of shares from companies like Bandhan Bank, Coal India, and Torrent Pharma are under observation as they may experience fluctuations during today's trading session due to recent earnings reports.

Asia Market Update: Stocks Rise As Traders Assess Japan Election Outcome

In the Asia-Pacific region, stock markets saw an uptick on Monday as traders reacted to the results of Japan's elections held over the weekend. The Japanese yen's decline, coupled with falling crude oil prices, provided a supportive backdrop for the rise in share indices.

This weekend's election results showed that Japan's ruling coalition did not secure a majority, leading to concerns about political stability. As of around 7:11 AM, the Nikkei 225 index was up by 568.97 points or 1.50%, reaching a level of 38,482.89. Concurrently, the KOSPI and S&P ASX 200 recorded increases of 0.70% and 0.13%, respectively.

US Market Update: Stocks End On Mixed Note

On Wall Street, major stock indices concluded the previous trading session with mixed outcomes. The Dow Jones Industrial Average and S&P 500 both saw declines, falling by 0.61% and 0.03%, respectively. In contrast, the Nasdaq Composite added 0.56%, closing at 18,518.61.

GIFT Nifty Trades Near 24,100; Bandhan Bank, Coal India, Torrent Pharma Share Prices In Focus

As of Monday morning, the GIFT Nifty was trading around the 24,100 mark. Stocks belonging to Bandhan Bank Ltd., Coal India Ltd., and Torrent Pharma Ltd. are anticipated to see movements due to their latest earning announcements.

The GIFT Nifty reported a decline of 0.27% or 64.50 points, standing at 24,145.50 as of 6:30 AM. Meanwhile, the NSE Nifty 50 and BSE Sensex have experienced a five-day losing streak, marking the worst weekly decline in over 14 months. The NSE Nifty 50 closed down by 218.60 points or 0.90% at 24,180.80, and the BSE Sensex fell by 662.87 points or 0.83%, finishing at 79,402.29.

According to analysts at Motilal Oswal Financial Services, this downturn is likely to persist in the near term as investors exhibit caution ahead of the upcoming U.S. presidential election on November 5. Siddhartha Khemka, head of research in Wealth Management, stated that the overall market has corrected by approximately 8% from its all-time high of 26,277 levels, attributing the decline to weak global signals, subdued Q2 results, and significant selling by foreign institutional investors (FIIs).

For today’s trading session on October 28, it is noted that the Nifty 50 index sees important support levels between 23,900 and 23,950.

Stock, Market, Earnings