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HomeCURRENT AFFAIRSBUSINESSStock Market Today: GIFT Nifty indicates a bearish start; Axis Bank Q2...

Stock Market Today: GIFT Nifty indicates a bearish start; Axis Bank Q2 net profit growth at Rs 5698 crore

NSE IX's GIFT Nifty fell 21 points to 19303, signalling that Dalal Street would probably have a rough start to the week.

Stock Market Today: GIFT Nifty on the NSE IX down 21 points, to 19303, indicating that Dalal Street was likely to have a poor start to the week. On the daily chart, the Nifty finished the day 261 points lower, below its 100-DMA, and formed a long bear candle. Wall Street saw a broad bounce and increased risk appetite among investors on Tuesday, thanks to a string of strong company earnings and optimistic projections.

Tokyo stocks opened lower; Rupee falls

Following excellent US business earnings, Wall Street rallies gave investors hope, and Tokyo equities opened higher on Wednesday.In early trading, the benchmark Nikkei 225 index increased by 0.73 percent, or 226.95 points, to 31,289.30, while the Topix index as a whole gained by 0.67 percent, or 14.94 points, to 2,255.67. Due to significant losses in local stocks and a spike in US bond yields to 5%, the rupee fell 4 paise to 83.16 against the US dollar on Monday.

Stock Market Today: Axis Bank Q2 net profit growth at Rs 5698 crore

When Axis Bank releases its second-quarter results on October 25, it is expected to show a moderate 7 percent on-year net profit rise at Rs 5,698 crore in the September quarter, driven by growth in net interest income (NII) and solid asset quality. Because of the increased cost ratios brought on by the Citi integration, net profit is probably going to decrease by 2% on a quarter basis. The forecast for NII is to stay unchanged from Rs 11,959 crore in the prior quarter.

Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)

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