Financials lead recovery in Indian shares ahead of cenbank policy, earnings
Updates at 10:37 a.m. IST
By Bharath Rajeswaran
Oct 8 (Reuters) -Indian shares recovered on Tuesday, led by financials, after logging their worst losing streak in a year amid escalating conflict in the Middle East.
The Nifty 50 index .NSEI was up 0.49% at 24,916.2 points as of 10:37 a.m. IST, while the S&P BSE Sensex .BSESN added 0.47% to 81,430.22. The indexes had slipped marginally earlier in the session.
The benchmarks fell in each of the last six sessions as escalating Middle East tensions sapped risk appetite and foreign institutional investors sold shares worth $6 billion.
The Nifty 50 has fallen 5.6% from its record high hit on Sept. 27, while volatility has risen to a one-month high.
"We do not think that the recent drop signifies a long-lasting period of underperformance for Indian equities," Nomura said in a note.
"The structural story of India remains attractive and should valuations revert to more palatable levels, investors will look to re-enter the market."
Investors await the central bank's policy decision on Wednesday and corporate earnings that kick off this week.
The central bank is widely expected to hold rates at its meeting but some expect an easing of the policy stance.
On Tuesday, ten of the 13 major sectors advanced.
High weightage financials .NIFTYFIN rose 1%, with analysts attributing the rise to their relatively attractive valuations.
The broader, more domestically-focussed small- .NIFSMCP100 and mid-caps .NIFMDCP100 rose about 1% each.
Automaker Mahindra & Mahindra MAHM.NS gained 1.7% after CLSA upgraded the stock to "outperform" from "hold", citing gains from improved scale, superior product mix and better pricing power in sports utility vehicles.
Peer Tata Motors TAMO.NS lost 2% after its unit JLR's September-quarter retail sales fell 3% year-on-year. It was the top Nifty 50 loser by percentage.
Construction company Skipper SKIP.NS gained 8% after Nuvama initiated coverage of the stock with a "buy" rating, citing likely growth in earnings due to a rise in transmission and distribution capex.
Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sherry Jacob-Phillips, Mrigank Dhaniwala and Sonia Cheema
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
