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Start of the result season, will Nifty reverse from here?

Good Morning Everyone, Brand new month and Brand new weak! Let's look forward to another amazing month ahead with the result season kicking in. All eyes are now on the RBI's bi-monthly policy review due this week.

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Global Markets:

As we had discussed in our weekly meet, US markets tried to rebound from their lows on Friday.

The Dow Jones Industrial Average rose 482.54 points, or 1.43%, to 34,326.46; the S&P 500 gained 49.5 points, or 1.15%, at 4,357.04; and the Nasdaq Composite added 118.12 points, or 0.82%, at 14,566.70.

European stocks hit a two-month low amid economic headwinds in the form of supply-chain constraints and elevated prices. The pan-European STOXX 600 index fell 0.4 percent.

In Japan, the Nikkei 225 shed 0.57% while the Topix index dipped 0.24%. Australian stocks jumped, with the S&P/ASX 200 up 1.14%.

Indian Market:

Trends on the SGX Nifty indicate a flat start to the Indian market, let us see if the Nifty is able to rise back to glory this week as discussed in our weekly meet.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 131.39 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 613.08 crore in the Indian equity market on October 1.

Stock Specific News:

NTPC | Sources told CNBC-TV18 that NTPC will divest NTPC Renewable Energy, North Eastern Electric Power Corporation and NTPC Vidyut Vyapar Nigam. The company targets over Rs 15,000 crore by FY24.

Nazara Technologies | The company's board of directors will meet on October 6 to consider and approve the proposal to raise capital by issuance of equity shares or other securities on a preferential basis.

Aurobindo Pharma | N Govindarajan has tendered his resignation as the managing director and a director on the company's board due to personal reasons. His resignation was considered and accepted by the board of directors. Govindarajan will be relieved from the services of the company effective from the close of business on December 31, 2021.

Cipla | The company and Eli Lilly enter into a strategic partnership in India to enhance access to Lilly's key diabetes products.

Sona BLW Precision Forgings | The company’s wholly-owned subsidiary Sona Comstar eDrive has executed a collaboration agreement with IRP Nexus Group to develop, manufacture, and supply a Magnet-less Drive Motor and the Matching Controller for Performance Two-wheelers and Three-wheelers for the global market.

Federal Bank | Total deposits and gross advances rose 12 percent on-year, the lender said in its business update for the quarter ended September.

Union Bank of India | Crisil Ratings has upgraded its rating on the bank’s tier I bonds to 'CRlSlL AA/Stable' from 'CRISIL AA-/ Stable'.

Indian Bank | Crisil Ratings has upgraded its rating on the bank's outstanding/ proposed Additional Tier 1 Bonds to 'CRISIL AA+' from 'CRISIL AA', while retaining its stable outlook.

Grasim Industries | The I-T Department has raised a demand of Rs 8,334 crore against the company as Capital Gains Tax in a transaction related to the demerger of its financial services business.

Liquor companies | A new excise policy in the crucial Delhi market is expected to cripple liquor companies' sales ahead of the festive season, as per reports.

Avenue Supermarts (D Mart) | Standalone revenue from operations jumped nearly 47 percent on-year for the September quarter, with the total number of stores as of September-end at 246.


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