Indian markets open marginally lower amid weak global signals – PB Fintech, Maruti Suzuki, Tata Motors, M&M, Bajaj Auto and other stocks in focus
- Indian benchmarks Sensex and Nifty50 opened marginally lower on Friday amid mixed global signals.
- The SGX Nifty, an early indicator of the direction markets may take, fell 0.26%.
- The Sensex opened 306 points lower at 62,979 while the 50-share Nifty50 opened 60 points lower at 18,752.
- PB Fintech, Maruti Suzuki, Tata Motors, M&M, Bajaj Auto are among the stocks in focus on Friday.
Indian benchmarks Sensex and Nifty50 opened marginally lower on Friday amid mixed global signals. The SGX Nifty, an early indicator of the direction the markets may take, fell 0.26% before the markets opened.
The Sensex opened 306 points lower at 62,979 while the 50-share Nifty50 opened 60 points lower at 18,752.
Earlier, the Indian government reported a 10.9% increase in GST collection to Rs 1.46 lakh crore in November compared to the same period last year. However, collections were down 3.9% compared to October.
Brent crude oil prices rose slightly on Friday, rising to $87.2, or 0.37 percent. The rupee rose 18 paise against the US dollar in early trade on Friday to 81.08.
US markets mixed ahead of November jobs data
US stocks had a mixed day on Thursday as investors awaited November jobs data before the Fed delivers its last rate hike in 2022.
The Dow Jones Industrial Average closed down 0.56%, the S&P 500 was down 0.09% while the Nasdaq Composite was up 0.13%
Asian markets fall pending clarity from China on Covid restrictions
Markets in Asia were all in the red on Friday, awaiting clarity from China on Covid restrictions.
Hong Kong’s Hang Seng index fell 0.61%, while South Korea’s KOSPI fell 1.22%. The Shanghai Composite fell 0.19%, while the Nikkei 225 fell the most with 2.25%.
Stocks to watch out for on Friday
PB Fintech: Multiple reports state that SoftBank Group plans to offload a 5% stake in online insurance aggregator Policybazaar through a block deal.
ONGC, Oil India, RIL: The central government on Thursday unexpectedly cut taxes on locally produced crude oil and diesel exports. The tax on crude oil produced by these firms has been reduced to ₹4,900,900 per tonne from the existing ₹10,200 per tonne.
Maruti Suzuki: Reported an 18% year-on-year increase in domestic wholesale sales to 1,39,306 units in November.
Hero MotoCorp: Reported a 12% YoY increase in wholesale sales to 3,90,932 units in November.
Tata Motors: Passenger car sales increased by 55% year-on-year to 46,037 units in November.
Mahindra and Mahindra: Reported a 56% annual increase in domestic passenger car sales in November to 30,392 units.
Bajaj Auto: Reported a 19% YoY decline in total sales at 3,06,552 units in November compared to 3,79,276 units last year.
TVS engine: Reported a 9% increase in domestic two-wheeler sales to 1,91,730 units in November.
Shares in R&D ban
Bharat Heavy Electricals, Delta Corp, Indiabulls Housing Finance and Punjab National Bank are stocks in the F&O ban on Friday.
| Top winners | Change | Top losers | Change 2 |
| ONGC | 1.39% | Eicher Motors | -2.53% |
| Apollo Hospital | 1.24% | Bajaj Auto | -1.63% |
| Tech Mahindra | 0.58% | M&M | -1.50% |
| Reliance Industries | 0.46% | Tata Consumer | -1.49% |
| IndusInd Bank | 0.37% | Divis Laboratories | -1.47% |
Source: NSE, Nifty50, at 10.00, 2 December 2022
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