Can Nifty stay away from the fall on this volatile day?

Good Morning Everyone, Yesterday the Nifty opened with a small gap up at 18295 and then went on a flat mode till noon after which there was a sudden selling in the market as seen below and then finally closed at 18210.

Today is the monthly expiry, and we can see huge volatility in the Nifty, however, Indus Ind bank and Canara bank came with great results yesterday along with LT hence let us hope the market to continue recovery.

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On the daily chart, Nifty has formed a bearish candle with a positive bias. Let hope it sustains.

However, one major fact to consider is that the FIIs have been continuously selling in the market and what will happen when they start buying again? They have sold for almost 12000 cr in this week.

Sector Watch:

With great results coming in from the PSU Banks, more and more positivity and confidence is being built up in the minds of the investors for the sector and we can see SBI continuously moving up before its result announcement.

The media sector was the top loser for the day.

Top Gainers:

Asian paints recovered big after the small fall last week. and our pick UPL also has started recovering from its lows.

Top Losers:

Axis bank got into huge profit booking after the results and was down more than 6% dragging the Pvt banks down, followed by Bajaj finance.

Global Markets:

Stocks gave up gains in the last hour and closed lower on Wall Street Wednesday. The tech-heavy Nasdaq dropped marginally, S&P 500 declined half a percent and the Dow Jones Industrial Average lost 0.7 percent.

Asian shares were mixed Thursday morning following overnight losses on Wall Street. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.06 percent lower. Japan's Nikkei index lost almost a percent. Chinese blue chips were also trading half a percent lower. And South Korea’s Kospi advanced 0.20 percent. Elsewhere, Australian shares lost over 0.20 percent.

Japan’s retail sales fell for a second month in September as consumers limited spending amid concerns over the coronavirus pandemic, reinforcing expectations the world’s third-largest economy stalled in the third quarter.

Indian Market:

India's crude oil imports in September hit a five-month high, government data showed on Wednesday, as a pick-up in economic activity and mobility led to higher fuel demand.

The government on Wednesday reconstituted the Economic Advisory Council to the Prime Minister (EAC-PM) for a period of two years after its term came to an end last month. Bibek Debroy will remain the chairman of the Council.

Paytm's Rs 18,300 crore initial public offering will happen between November 8 and 10 at a price band of Rs 2,080-2,150 per share, according to sources privy to the development. This is touted to be India’s largest market debut, a record that was previously held by Coal India, which raised Rs 15,000 crore over a decade ago.

The company which was earlier planning to raise Rs 16,600 crore revised the amount to Rs 18,300 crore following an increased investor interest. While the primary will continue to be Rs 8,300 crore, the additional amount will go to the offer for sale taking the overall sum to Rs 10,000 crore.

Results today

Bajaj Finserv, NTPC, Tata Power, DLF, InterGlobe Aviation, Marico, RBL Bank, AAVAS Financiers, Adani Green Energy, APL Apollo Tubes, Adani Total Gas, AU Small Finance Bank, Blue Star, CarTrade Tech, Chalet Hotels, Chemcon Speciality Chemicals, Dishman Carbogen Amcis, Edelweiss Financial Services, Gujarat Gas, HSIL, Indian Bank, Infibeam Avenues, JK Tyre & Industries, Laurus Labs, Mahindra & Mahindra Financial Services, Motilal Oswal Financial Services, Reliance Infrastructure, SBI Cards and Payment Services, Sudarshan Chemical Industries, UCO Bank, UTI Asset Management Company, Welspun Corp, and Westlife Development

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1913.36 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 472.48 crore in the Indian equity market on October 27

Stock Specific News:

Nykaa | The company's initial public offering (IPO) will open today and Nykaa has priced its IPO at Rs 1,085 to Rs 1,125 per share. The company has raised Rs 2,396 crore from 174 anchor investors ahead of its IPO.

ITC | Although the company's net profit for Q2 came in lower-than-expected at Rs 3,697.2 crore, its revenue of Rs 13,553.5 crore surpassed estimates. The company's cigarette volume growth of 9 percent was in-line with the estimate.

Punjab National Bank | The lender reported a net profit of Rs 1,105.2 crore for Q2 which was sharply below expectations while net interest income was also below expectations at Rs 6,352.8 crore.

Adani Ports and Special Economic Zone | The company says that its Risk Management Committee has decided to work on a plan on exiting its investment in Myanmar, including exploring any divestment opportunities. The company's profit and revenue for Q2 came in sharply below estimates, at Rs 951.7 crore and Rs 3532.4 crore respectively.

Axis Bank | Current ED-Wholesale Banking is elevated as the 'Deputy Managing Director' at Axis Bank. The appointment is subject to further approvals from the Reserve Bank of India and shareholders of the bank.

United Breweries | The company's Q2 profit stood at Rs 80.6 crore, lower than the estimate, and revenue was slightly above the estimate, at Rs 1,426.2 crore.

Dalmia Bharat | The company's Q2 profit came in at Rs 209 crore, beating the Street's expectation, while revenue missed the estimate by a small margin and came in at Rs 2,577 crore.

Bajaj Auto | Both the profit and revenue beat Street's estimates for Q2. The auto maker's profit stood at Rs 1,274.5 crore and revenue was at Rs 8,762.2 crore.

Larsen & Toubro | Even as the company's Q2 revenue fell short of expectations, at Rs 34,772.9 crore, L&T's profit was higher than expected at Rs 2,134 crore.

IndusInd Bank | The lender's Q2 net profit was above expectations at Rs 1,146.7 crore and net interest income came in at Rs 3,658.4 crore, missing Street's expectation.

Titan Co | The jewelry maker's profit for Q2 stood at Rs 641 crore as compared to Rs 199 crore a year ago. Its revenue also jumped sharply on year to Rs 7,170 crore.


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