Morning Outlook 12th October, 2022

TOP DELIVERY PERCENTAGE

UPCOMING ECONOMIC DATA

NEWS UPDATES

• Indian benchmark indices ended lower for the third consecutive session with Nifty finishing below 17,000 level. At Close, the Sensex was down 843.79 points or 1.46% at 57,147.32, and the Nifty was down 257.50 points or 1.49% at 16,983.50. About 1036 shares have advanced, 2291 shares declined, and 133 shares are unchanged.

• Inox Wind’s subsidiary Inox Green Energy Services sold entire equity shareholding held in Wind One Renergy, Wind Three Renergy and Wind Five Renergy, to Adani Green Energy.

• Shares of Tata Consultancy Services Ltd. fell on Tuesday after the company’s second-quarter earnings, despite meeting the consensus estimates, failed to lift investor sentiments. As of 10:19 a.m., the stock fell as much as 1.03%—the most this week so far—as a flattening order book and lower net hiring sparked investor concerns.

• JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said “serious” headwinds are likely to push the US and global economies into recession by the middle of next year.

• Suzlon Energy, which suffered the sudden loss of its founder-chairman Tulsi Tanti, is gearing up for an Rs 1,200 rights issue that opens on October 11

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint

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