The SgxNifty Future is trading at 11,161.00 with a loss of -0.74% percent or -83.00 point. The Nikkei 225 Future is trading at 22,607.50 with a loss of -0.67% percent or -152.50 point.The Hang Seng Future is trading at 23,639.00with a loss of -1.08% percent or -257.00 point.
TODAY’S FACTORS AND EVENTS
The Supreme Court has directed the status quo with respect to pledging, transferring and further actions on pledged Tata shares by Pallonji Group. The apex court will next hear the case on October 28.
Prima facie, we are of the view that pledging is a case of limited transfer. Pledging may not be an absolute transfer, but is a case of limited transfer, SC observed.
Pallonji Group not willing to maintain the status quo, we thought they would be agreeable, SC said.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 27,657.42 with a loss of – percent or –244.56 point. The S&P 500 is trading at 3,319.47 with a loss of – percent or –37.54 point. The Nasdaq Composite is trading at 10,793.28 with a loss of percent or –116.99 point.
In other parts of world, Japan’s Nikkei 225 is trading at at 23,360.30 up with + percent or +40.93 point. Hong Kong’s Hang Seng is trading at 24,070.76 with a loss of – percent or –384.65 point. China’s Shanghai Composite is trading at 3,318.62 with a loss of – percent or –19.47 point. India’s BSE Sensex is trading at 38,857.41 up with percent or +11.59 point at 12:15 PM.