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Wednesday, November 30, 2022

Share Market LIVE: Sensex falls 1000 pts in pre-open trade, Nifty below 15900; Brent crude surges past $130

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Ahead of today’s trading session, SGX Nifty was in red indicating a gap-down start for the Indian benchmark indices Sensex and Nifty 50.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian equity markets are likely to open lower amid Russia-Ukraine geopolitical tension and weak global cues. Ahead of today’s trading session, SGX Nifty was in red indicating a gap-down start for the Indian benchmark indices Sensex and Nifty 50. The Nifty futures were trading around 15,845.50 level on the Singaporean Exchange. In Asia, Japan’s Nikkei sank 3.2%, while MSCI’s broadest index of Asia-Pacific shares outside Japan lost 1.6%. Chinese blue chips shed 0.8% amid a sea of ​​red across Asian markets. Meanwhile, all three major Wall Street indices ended lower on Friday as the war in Ukraine overshadowed an acceleration in US jobs growth last month that pointed to strength in the economy.

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“Post the recent correction, the Nifty is now trading at ~19x 12-months forward P/E, which is lower than its 10-year average for the first time since Nov’20. Corporate earnings remained resilient despite the challenges with 3Q/9MFY22 Nifty earnings growing at 25%/45% and forward estimates remaining stable. The healthy earnings visibility can act as a cushion in an otherwise fragile external situation and the recent correction has led to moderation in valuation,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

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