Stock market updates on October 12, 2023: IT stocks led by TCS and Infosys are likely to guide the market sentiment on Thursday. That apart, Nifty weekly options expiry could add to the day’s volatility. Further, inflation rate for September; industrial production and manufacturing data for August are scheduled to be announced later in the day.
At 07:00 AM, Gift Nifty futures quoted at 19,844, suggesting a likely flat start to the day’s trade.
Overnight, the US market recouped losses and finished (up to 0.7 per cent) at the high point of the day as 10-year Treasury yields slipped to 4.57 per cent. The US market also awaits the inflation data later tonight.
In Asia this morning, Japan’s Nikkei was up 1.2 per cent. Kospi jumped 0.9 per cent, while Taiwan added 0.2 per cent.