Indian shares open muted as Bajaj Finance's gains offset broader profit-taking
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 23 2024
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Source: Reuters
Market Performance: Indian shares opened with slight gains, with the NSE Nifty 50 rising 0.1% and S&P BSE Sensex up 0.06%, driven by Bajaj Finance's positive earnings outlook despite ongoing profit-booking and foreign outflows.
Corporate Earnings Impact: The market faced pressure from disappointing corporate earnings, particularly Zomato's missed profit estimates, while Paytm saw a rise after receiving approval for new UPI users; overall, foreign selling continued for the 17th session amid a shift of investments to China.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
