Do we see more volatility today with the first monthly expiry tomorrow?

Good Morning Everyone, Yesterday Nifty opened with a gap down and went on to a big rally to close at 17822. Let us see the global markets to understand how this day might look like!

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Global Markets:

US market had a solid rebound yesterday after days of selling, probably taking cues from India?

The S&P 500 rose 1 percent, with technology companies and banks leading the gains. The Dow Jones Industrial Average and Nasdaq also rose over 1 percent.

In Japan, the Nikkei 225 shed earlier gains to fall 0.18 percent. South Korea's Kospi slipped 0.46 percent. Hong Kong's Hang Seng index sat marginally higher. Shares in Australia dipped, with the S&P/ASX 200 falling 0.29 percent. MSCI's broadest index of Asia-Pacific shares outside Japan traded flat.

Indian Markets:

Trends on the SGX Nifty indicate a flat-to-gap-down opening to Nifty this morning with mixed Asian markets.

Moody's Investors Service on Tuesday changed the outlook on India's ratings to 'stable' from 'negative' and affirmed the country's foreign-currency and local-currency long-term issuer ratings and the local-currency senior unsecured rating at Baa3.

Chief Economic Adviser (CEA) Krishnamurthy Subramanian on Tuesday said international rating agency Moody’s projection of a 6 percent growth rate is an “underestimate" as India has been “fiscally very prudent".

However, with the weekly expiry tomorrow, we can expect markets to be volatile as Nifty is close to its all-time high.

We can also expect IT to get more power today after taking support yesterday.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,915.08 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,868.23 crore in the Indian equity market on October 5

Stock Specific News:

Bajaj Finance | The company’s assets under management (AUM) stood at approximately Rs 166,900 crore as of September 30, 2021, as compared to Rs 137,090 crore as of September 30, 2020. Deposit book in Q2 FY22 grew by approximately Rs 750 crore. Bajaj Finance’s deposit book stood at approximately Rs 28,700 crore as of September 20, 2021, against Rs 21,669 crore as of September 30, 2020.

Marico | Revenue growth in Q2 FY22 was in the low twenties with volume growth close to double-digits on a two-year CAGR basis. The international business delivered double-digit constant currency growth as it witnessed positive trends in all markets, except Vietnam. Among key inputs, copra prices corrected further, crude remained firm, while edible oil prices oscillated at higher levels.

HDFC Bank | Months after shelving plans to list its non-banking subsidiary, HDB Financial Services, HDFC Bank has initiated a formal process to rope in a strategic investor, as per a report.

Central Bank of India | Central Bank of India has entered into a strategic co-lending partnership with IIFL Home Finance Ltd to offer SME LAP Loan products under priority sector to MSME borrowers.

Raymond | Raymond Realty will develop a ‘Grade A’ commercial and high street retail space at Thane land spread across 9.5 acres. The company also announced its plans to build premium residential units spread across 1 million sq ft.

Chemplast Sanmar | In the first half of FY22, the demand environment remained buoyant, the company said. On a consolidated basis, Chemplast Sanmar expects to register a significant on-year increase in its revenue for H1FY22. In terms of overall volume, both the company and its wholly-owned subsidiary, together, saw a production increase of around 30–35 percent on a year-on-year basis in H1FY22.

MTAR Technologies | CRISIL Ratings has upgraded its short and long-term bank facilities of the company to ‘CRISIL A2+’ and ‘CRISIL A- /Stable’ respectively. The upgrade reflects the healthy business risk profile of the company while factoring in a strong order book, long-standing relationship with customers, strong export diversity and healthy operating profitability.

Force Motors | The company reported total production of 2,159 units in September as compared to 2,148 units in August.

SpiceJet | The airline’s Chairman Ajay Singh wants to reportedly expand the company’s fleet of passenger jets and cargo haulers as SpiceJet’s financial performance recovers.

Future Retail | The company and 7-Eleven, the world’s largest convenience store chain, have terminated an agreement to open small-format shops across India’s top cities without opening a single store.


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