Asian share markets took a breather today after last week's sweeping rally as a top US central banker warned investors against getting carried away over one inflation number.

The Nikkei is down 0.8% while the Shanghai Composite is up 0.8%. The Hang Seng is the biggest gainer, up 2.9%

In US stock markets, Wall Street indices rose for the second day on Friday and notched strong weekly gains as data showed a lesser-than-anticipated rise in inflation last month.

This strengthened prospects for a slowdown in the pace of rate hikes by the Federal Reserve. Technology stocks were among the top gainers.

The Dow Jones rose 0.1% while the tech-heavy Nasdaq rallied 1.9%.

Here's a table showing how the top US tech stocks ended on Friday.

Source: Equitymaster

Back home, Indian share markets are trading on a negative note, following the trend on SGX Nifty.

Benchmark indices are trading on a lackluster note today tracking muted global cues.

The BSE Sensex is trading down by 161 points. Meanwhile, the NSE Nifty is trading lower by 16 points.

Tata Steel and Kotak Mahindra Bank are among the top gainers today. ICICI Bank and ITC, on the other hand, are among the top losers today.

The BSE Mid Cap index is trading flat while the BSE Small Cap is trading higher by 0.1%.

Sectoral indices are trading on a mixed note with stocks in the auto sector and metal sector witnessing most of the buying.

Meanwhile, stocks from the telecom sector and capital goods sector are witnessing selling.

Shares of Azko Nobel and Adani Enterprises hit their 52-week highs today.

The rupee is trading at 81.1 against the US$.

The rupee has sharply appreciated against the US dollar in recent sessions amid a fall in crude oil prices, dollar weakness, and sustained foreign fund inflows.

Gold prices are trading up by Rs 158 at Rs 52,519 per 10 grams. Meanwhile, silver prices are trading up by 0.4% at Rs 61,808 per kg.
 

Why Indigo Paints Share Price is Falling

Recently, we wrote to you about Asian Paints and why its share price was falling.

Before that, we highlighted the reasons behind Berger Paints' downfall.

Adding to the list of paint companies that are falling, Indigo Paints recently joined the party.

LIC Shares Rise Post Quarterly Results

State-run insurance giant Life Insurance Corporation (LIC) on Friday posted its quarterly results. Its September quarter consolidated net profit after tax (PAT) surged multi-fold to Rs 159.5 billion (about Rs 15,952 crore) from Rs 14.3 bn in the corresponding quarter of the last financial year.

The insurer recognized a gain due to changes in its accounting policy.

In the April to June quarter, the insurance giant reported a net profit of Rs 6.8 bn.

LIC's net premium income improved to Rs 1.3 tn in the reporting quarter, up 27% from Rs 1 tn in the year-ago period. The net income from investments jumped 10% YoY to Rs 841 bn.

The first-year premium, an indication of business growth, was at Rs 91.2 bn, up 11% for the quarter compared with Rs 82 bn a year ago.

The renewal premium rose 2% to Rs 561.6 bn while the single premium soared 62% to Rs 669 bn.

LIC's gross non-performing assets (NPA) for the September quarter came at Rs 261.1 bn, as against Rs 266.2 bn a quarter ago, and Rs 289.3 bn a year ago.

The gross NPA ratio was down to 5.6% at the end of Q2 from 5.8% in Q1, and 6.6% a year ago.

LIC's share price today has finally seen the much-awaited rally. But if we compare full-year performance, LIC's share price is falling continuously since its listing.
 

Glenmark Pharmaceuticals Q2 Results

Moving on to news from the pharma sector, Glenmark Pharma has posted its quarterly results.

The total net sales of the company stood at Rs 33.8 bn in September 2022 up 7.2% from Rs. 31.5 bn in September 2021.

The quarterly net profit of the company stood at Rs. 2.6 bn in September 2022 down 5.2% from Rs. 2.7 bn in September 2021.

Earnings before interest tax and depreciation (EBITDA) stood at Rs. 7.2 bn in September 2022 up 24.6% from Rs. 5.8 in September 2021.

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