MARKET LIVE: Global cues to dictate trend; SBI Card, Maruti Suzuki in focus

Stock market LIVE updates: Equity markets are expected to begin trade on a positive note Friday. At 7:30 AM, SGX Nifty was at 17,856 levels, up around 80 points relative to Nifty’s spot close of 17,770 on Thursday.

Global markets, however, remain subdued. Shares in the Asia-Pacific fell this morning with Australia’s S&P/ASX 200 down 0.49 per cent. The Nikkei 225 in Japan, too, fell 0.65 per cent in early trade, while the Topix 0.12 per cent lower. South Korea’s Kospi was fractionally higher. MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.26 per cent.

Futures tied to the Nasdaq dropped 0.7 per cent. Dow Jones Industrial Average futures fell 0.5 per cent, and S&P 500 futures lost 0.1 per cent early today.

Overnight, the Dow Jones Industrial Average settled 0.61 per cent up; the S&P 500 lost 0.61 per cent; and the Nasdaq Composite dropped 1.63 per cent as investors contended with solid economic data and a mixed bag of corporate earnings.

Earnings on Friday, October 28

Bandhan Bank, Blue Dart, Datamatics Global Services, Dr Reddy’s Labs, JSW Energy, Maruti Suzuki, and Sona Comstar are among the 49 companies set to report their Q2 results today.

India’s biggest domestic car manufacturer, Maruti Suzuki India, will likely report 250-300 per cent year-on-year (YoY) rise in net profit for the September quarter of FY23 (Q2FY23) aided by impressive sales volumes due to easing of supply-chain constraints, and a low channel inventory. READ PREVIEW HERE

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