Markets Trade Flat, Reliance Gains Ahead Of Results

Benchmark indices were trading flat after two successive days of losses even as global markets continued to remain weak. Dow Futures lost 300 points, pushing Asian markets lower. Global markets have been falling since the start of the week following a resurgence of coronavirus cases from around the globe. European and US markets have seen significant losses during the week.

The Sensex was trading with losses of 10 points, while the Nifty drifted 3 points lower.

Shares in Reliance Industries was higher ahead of results to be declared later today. The company is expected to report good numbers backed by retail and telecom.

Shares in Hindustan Petroleum Corporation too were trading higher after the company said that it would consider a buyback of shares. The board would also meet on Nov 4 to consider the corporate results for the quarter ending Sept 30, 2020.

Canara Bank saw its shares rise after the Bank reported higher profit at Rs 444.1 crore for the second quarter ending Sept 30, 2020 as against Rs 364.9 crore last year. Net interest income at the bank jumped to Rs 6,296 crore from Rs 3,129 crore YoY.

Larsen and Toubro, which had fallen sharply on Thursday post its quarterly numbers managed to gain ground and was up 0.50 per cent.