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Nifty flirts with 18000 for the first time! more to follow?

Good Morning, Everyone, The Nifty opened with a gap down and then went on a rocket mode to cross the 18000 mark briefly, and then closed the day at 17945.

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Global Markets:

The global market went weak yesterday and we could see some sell-off in world markets with the growing concerns over the energy crunch led to inflation worries.

The Dow Jones Industrial Average fell 250.19 points, or 0.72%, to 34,496.06, the S&P 500 lost 30.15 points, or 0.69%, to 4,361.19 and the Nasdaq Composite dropped 93.34 points, or 0.64%, to 14,486.20.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.9% in early trade after U.S. stocks ended the previous session with mild losses. U.S. stock futures, the S&P 500 e-minis, fell 0.43%.

Australian shares slipped 0.29% while Japan's Nikkei stock index slid 1.03%.

China's blue-chip CSI300 index was 0.75% lower, while Hong Kong's Hang Seng index opened down 1.35%.

Indian Market:

Trends on the SGX Nifty indicate a gap down opening to the Nifty today with almost a 100 point loss.

We need to see if the Infosys & HCL results can bring in some positivity to the IT sector as the IT sector had its worst fall in a month, yesterday.

Meanwhile, India Inc has raised $9.7 billion through its initial public offerings (IPOs), the highest amount in a nine-month period over the last 20 years. So far, 43 companies launched public issues on the mainboard and the same number of firms in the SME segment during January-September 2021. In rupee terms, the total fundraising via IPOs stood at Rs 78,520 crore in the mainboard segment and Rs 551 crore in the SME segment.

The brokerage upped its consumer price index (CPI) inflation target for 2022 to 5.2 percent from 5 percent earlier. Demand remains strong in India, but there are supply-side headwinds in areas like chips which are bothering the auto sector, and coal shortages which threaten to put parts of the country into darkness, it said.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,303.22 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 373.28 crore in the Indian equity market on October 11

Results on October 12

Bhansali Engineering Polymers, GM Breweries, Indbank Merchant Banking Services, Ind Bank Housing, JTL Infra, and DRC Systems India will announce their quarterly earnings on October 12.

Stock Specific News:

Tata Motors | Tata Motors global wholesales in Q2 FY22, including Jaguar Land Rover, were at 2,51,689, higher by 24 percent, as compared to Q2 FY21.

Hero MotoCorp | Aligned to its aggressive growth strategy in the scooter segment, Hero MotoCorp has launched the new Pleasure+ ‘XTec’.

Krsnaa Diagnostics | The company’s net profit for Q2 crashed 63 percent Year-on-Year (YoY) to Rs 12.5 crore while revenue tanked 55 percent YoY to Rs 108.3 crore.

Tata Metaliks | The company’s revenue was up 24 percent at Rs 644.8 crore while net profit fell 33 percent to Rs 54.6 crore.

Delta Corp | The casino company’s revenue skyrocketed 94 percent to Rs 74.7 crore during the September quarter. Meanwhile, Delta Corp’s net profit narrowed to Rs 22.6 crore.

Ujjivan Small Finance Bank | The bank’s disbursements witnessed a 114 percent on the year and 138 percent on the quarter jump, while total deposits grew 31 percent on the year and 3 percent on quarter.

Rane Madras | The company will acquire the steering and components division of Yagachi Technologies which is a part of the Hical Group.

Vodafone Idea | Aditya Birla Group chairman Kumar Mangalam Birla is considering infusing some of his own capital into Vodafone Idea, while the Vodafone Group may sell at least a part of its stake in Indus Towers and channel the proceeds into the loss-making telco, a report said. This will be followed by external funding, it added.

Sangam India | The company’s board will meet on October 16 to consider and approve the preferential issues of shares or warrants to investors or promoters.


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