The Indian stock market opened on a flat note on October 31, with the Sensex trading at 61,343.55, up 46.77 points, and the Nifty at 18,282.20, up 13.50 points. The market is awaiting the quarterly earnings reports of Dabur India and Larsen & Toubro (LT), scheduled to be released later today.
Dabur India’s Q2 results are expected to be influenced by the company’s performance in the consumer goods segment. Analysts predict a 10-12% year-over-year growth in revenue and a 15-18% increase in net profit.
Larsen & Toubro’s Q2 results will be closely watched for updates on the company’s order book and execution. The engineering and construction major is expected to report a 10-15% year-over-year growth in revenue and a 15-20% increase in net profit.
Meanwhile, food delivery platform Swiggy has filed a draft prospectus with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The company aims to raise around ₹8,000 crore through the IPO.
In global markets, Asian stocks were mixed, while US stocks ended higher overnight. The Dow Jones Industrial Average rose 0.6%, the S&P 500 gained 0.7%, and the Nasdaq Composite added 0.8%.
Back home, the Indian rupee opened at 82.55 against the US dollar, down 0.2% from its previous close. The 10-year government bond yield stood at 7.323%.
Investors will also keep an eye on the Reserve Bank of India’s (RBI) monetary policy meeting, scheduled for November 1-3. The central bank is expected to maintain a status quo on interest rates.