Stock Market Today: All You Need To Know Going Into Trade On Oct. 27
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Global equity investors parsed mixed messages on Thursday betting on a further recovery for Chinese shares, while weak tech earnings dimmed the outlook for U.S stocks. Treasury yields fell.
US-listed Chinese stocks rallied and futures for Hong Kong equities pointed towards a possible second day of gains on Thursday following sharp losses after President Xi Jinping tightened his grip on the country over the weekend. Meanwhile, Australian stocks opened higher and Japanese shares fell.
U.S. stocks dropped as investors parsed fresh economic data and disappointing earnings while mulling the Federal Reserve’s path after the Bank of Canada announced a smaller-than-expected rate hike.
The S&P 500 fell 0.7% as of 2:54 p.m. New York time, while the Nasdaq 100 fell 2.1%. That was triggered by a selloff in megacaps including Microsoft Corp. and Alphabet Inc. The Dow Jones Industrial Average, however, was little changed.
Indian equity benchmarks had ended lower on Tuesday, snapping seven-day rally. The S&P BSE Sensex declined 287.70 points or 0.48%, while NSE Nifty fell 74.40 points or 0.42%. Wednesday was a market holiday.
Oil gained further ground after touching the highest level in about two weeks after US Secretary of State Anthony Blinken said a deal with Iran is unlikely to advance in the short term.
At 6:42 am, the Singapore-traded SGX Nifty--an early barometer of India's benchmark Nifty 50--traded 0.48% higher at 17,899.
U.S. Dollar Index at 109.70
U.S. 10-year bond yield at 4% on Wednesday
Brent crude up 0.10% to $95.79 per barrel
Nymex crude at $88.01 per barrel
SGX Nifty up 0.3% to 17,867.5 as of 6:30 a.m.
Bitcoin up 0.07% to $20,766.88
Earnings Post Market Hours
Chennai Petroleum Q2 FY23 (Consolidated, YoY)
Revenue up 75% at Rs 22,894 crore Vs Rs 13,088 crore
EBITDA fell 26% at Rs 227.6 crore Vs Rs 306 crore
EBITDA margin 1% Vs 2%
Net profit fell 72% at Rs 17 crore Vs Rs 61.05 crore
Stocks To Watch
DLF: The company plans to launch new projects worth Rs 3,500 crore, mainly in Gurugram and Panchkula, during the second half of this fiscal.
Embassy Office Parks REIT: The investment trust will invest Rs 2,200 crore in the next four years to develop premium workspaces
Trident: The company has commissioned a new solar power project of 8.87 MWp at Budhni, Madhya Pradesh for captive use at its locally based manufacturing facilities.
Macrotech Developers: ICRA has assigned [ICRA] A+ (Stable) rating to the company’s term loan facility worth Rs 600 crore.
Mahindra & Mahindra: The company incorporated a wholly owned subsidiary, Mahindra Electric Automobile, to undertake its four-wheeler passenger electric vehicles business.
LT Foods: The board of the company will meet on Oct. 31, 2022 to discuss raising of funds and reorganization of shareholding framework of subsidiary companies.
Aditya Birla Sun Life AMC, Anupam Rasayan India, Balaji Amines, Gokaldas Exports, Indian Metals & Ferro Alloys, Indus Towers, Latent View Analytics, Lloyds Steels Industries, CE Info Systems, PC Jeweller, PNB Housing Finance, REC, SBI Cards and Payment Services, Supreme Petrochem, Tata Chemicals, Tamilnad Mercantile Bank, Vaibhav Global, V-Guard Industries
CSB Bank: Maybank Securities bought 26.4 lakh shares (1.52%), Nomura Singapore sold 26.4 lakh shares (1.52%) at Rs 232.3 apiece.
Punjab Alkalies & Chemicals: Quant Mutual Fund bought 45.57 lakh shares (1.88%) at 79 apiece, Paramone Concepts sold 21 lakh shares (0.87%) at 79.18 apiece.
Who’s Meeting Whom
Intellect Design Arena: To meet investors and analysts on Oct. 28.
NIIT: To meet investors and analysts on Oct. 28.
Niyogin Fintech: To meet investors and analysts on Nov. 10.
Century Enka: To meet investors and analysts on Oct. 27.
Titan Company: To meet investors and analysts on Nov. 4.
Tamilnad Mercantile Bank: To meet investors and analysts on Oct. 27.
Century Textiles & Industries: To meet investors and analysts on Oct. 27.
Price Band Revised From 20% To 5%: PTC India
Ex-Date Interim Dividend: Steel City Securities, ICICI Lombard General Insurance Company, L&T Technology Services, Infosys, Bhansali Engineering Polymers
Ex-Date Demerger: NMDC
Ex-Date Bonus: Debock Industries
Move Into Short-Term ASM Framework: Delhivery, Mazda Motor Corporation
Som Distilleries & Breweries: Promoter Jagdish Kumar Arora bought 30,000 shares on Oct. 24.
Ramkrishna Forgings: Promoter Riddhi Portfolio bought 5,100 shares on Oct. 24.
Sasken Technologies: Promoter Group Arti Mody bought 900 shares on Oct. 24.
Pledge Share Details
Sun Pharmaceutical Industries: Promoter Group Shanghvi Finance revoked a pledge of 1.06 crore shares on Oct. 21.
Money Market Update
Rupee reversed all gains from the day’s trade to close 0.05% lower at Rs 82.73 against the U.S. dollar, compared to the Friday close of 82.69.
Nifty October futures ended at 17,652.00, a discount 80.55 points.
Nifty October futures lost 26.98% and 54,715 shares in Open Interest.
Nifty Bank October futures ended at 41,041.00, a discount of 229.00 points.
Nifty Bank October futures shed 21.62%, 11,217 shares in Open Interest.
Securities added to the ban list: Bharat Heavy Electricals, Punjab National Bank.