Indian markets open marginally lower amid weak global cues – PB Fintech, Maruti Suzuki, Tata Motors, M&M, Bajaj Auto and other stocks in focus

• Indian benchmark indices Sensex and Nifty50 opened marginally lower on Friday amid mixed global cues.
• SGX Nifty, an early indicator of the direction that markets may take, declined 0.26%.
• Sensex opened 306 points lower at 62,979 while the 50-stock Nifty50 opened 60 points lower at 18,752.
• PB Fintech, Maruti Suzuki, Tata Motors, M&M, Bajaj Auto are amongst the stocks in focus on Friday.

Indian benchmark indices Sensex and Nifty50 opened marginally lower on Friday amid mixed global cues. SGX Nifty, an early indicator of the direction that markets may take, declined 0.26% prior to the markets opening.

Sensex opened 306 points lower at 62,979 while the 50-stock Nifty50 opened 60 points lower at 18,752.

Earlier, the Indian government reported a 10.9% increase in GST collections at ₹1.46 lakh crore in November when compared to the same period last year. However, collections were down 3.9% when compared to October.

Brent crude oil prices rose slightly on Friday, edging up to $87.2, or 0.37%. Rupee rose 18 paise against the US Dollar in early trade on Friday at 81.08.

US markets mixed ahead of jobs data for November

Stocks in the US market had a mixed day on Thursday as investors awaited November jobs data before the Fed delivers its last rate hike of 2022.

Dow Jones Industrial Average closed 0.56% down, S&P 500 was down 0.09% while Nasdaq Composite was up 0.13%

Asian markets decline awaiting clarity from China on Covid restrictions

Markets in Asia were all in the red on Friday, awaiting clarity from China on Covid restrictions.

Hong Kong’s Hang Seng index declined 0.61%, while South Korea’s KOSPI fell 1.22%. Shanghai Composite declined 0.19%, while Nikkei 225 declined the most at 2.25%.

Stocks to watch out for on Friday

PB Fintech: Multiple reports state that the SoftBank Group is planning to offload a 5% stake in the online insurance aggregator Policybazaar through a block deal.

ONGC, Oil India, RIL: The central government on Thursday cut windfall tax on locally produced crude oil and diesel exports. The tax on crude oil produced by these firms has been reduced to ₹4,900 per tonne from the existing ₹10,200 per tonne.

Maruti Suzuki: Reported an 18% year-on-year increase in domestic wholesales to 1,39,306 units in November.

Hero MotoCorp: Reported a 12% YoY increase in wholesales to 3,90,932 units in November.

Tata Motors: Its passenger vehicle sales surged 55% YoY to 46,037 units in November.

Mahindra & Mahindra: Reported a 56% YoY increase in domestic passenger vehicle sales in November to 30,392 units.

Bajaj Auto: Reported a 19% YoY decline in total sales at 3,06,552 units in November compared to 3,79,276 units last year.

TVS Motor: Reported a 9% increase in its domestic two-wheeler sales to 1,91,730 units in November.

Stocks in F&O ban

Bharat Heavy Electricals, Delta Corp, Indiabulls Housing Finance and Punjab National Bank are stocks in the F&O ban on Friday.

Top gainers	Change	Top losers	Change2
ONGC	1.39%	Eicher Motors	-2.53%
Apollo Hospital	1.24%	Bajaj Auto	-1.63%
Tech Mahindra	0.58%	M&M	-1.50%
Reliance Industries	0.46%	Tata Consumer	-1.49%
IndusInd Bank	0.37%	Divis Laboratories	-1.47%

Source: NSE, Nifty50, as at 10 a.m., December 2, 2022

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