News Shots

Donald Trump has left hospital and returned to the White House. “Feeling really good!” he said on Twitter earlier. This will have a positive impact on the global markets.

Loan Moratorium Case – The Supreme Court has postponed the verdict to October 13.

TCS has crossed Rs 10 lakh crores market capitalization – second Indian company to do so after Reliance. They are planning to announce share buyback on October 7.

HDFC Bank’s advances as on September 30, 2020, rose 16 percent to Rs 10.4 lakh crore while deposits increased 20 percent to Rs 12.3 lakh crore, YoY. CASA Ratio was at 42 percent versus 39.3 percent, YoY.

Infibeam Avenues has signed a deal to license its ecommerce and payment software to Jio Platforms. Infibeam Avenues is the Gandhinagar-headquartered parent of payment gateway company CCAvenue.

Britannia Industries has approved the issue of one debenture of face value of Rs 29 each to the members of the company for every one equity share by utilizing the General Reserve of the company and payment of a dividend of Rs 12.50.

Tata Motors-owned Jaguar Land Rover (JLR) reported 11.9 percent dip in sales in the second quarter this fiscal to 1,13,569 units as compared to the same period previous year. The company’s sales, however, improved by 50 per cent during the July-September quarter as against 74,067 units in April-June period of the current fiscal, JLR said in a statement.

The board of directors of Electrosteel Castings (ECL) and Srikalahasti Pipes (SPL) have approved the proposed scheme of amalgamation of the two companies. Post merger, the combined entity will become a leading manufacturer of ductile iron pipes

The housing finance major HDFC said its individual loan disbursements in the second quarter of 2020-21 reached 95 per cent of the level in the year-ago period and September saw the strongest recovery since the outbreak of COVID-19 pandemic, suggesting business is returning to pre-crisis levels.

Reliance Industries has called off the proposed merger of his group’s entertainment business with Sony Pictures Networks India following a strategic rethink.

Aurionpro Solutions bagged a Rs 30 crore order from the Transport Department of NCT, Delhi. The order entails supply, commission and operation of the Automated Fare Collection (AFC) System for the buses in Delhi for fleet size of over 4,000 buses

The Bank Board Bureau has recommended S Janakiraman and Ashwini Kumar Tewari’s names for the position of State Bank of India’s Managing Director.

CreditAccess Grameen has launched QIP issue at Rs 707.69 per share.

Majesco will consider a proposal for buyback of fully paid-up equity shares on October 8.

CBI filed a FIR on Oct 2 against Usha Martin, its managing director Rajeev Jhawar and certain other individuals, for alleged offences under the Prevention of Corruption Act, 1988 and the Indian Penal Code, 1860.

What to expect today?

NIFTY is looking strong and tested its resistance at 11,570 yesterday. Click here for a detailed analysis of yesterday’s market and stock movements. 

The postponement of the loan moratorium case did lead to some profit booking in Bank Nifty. Nevertheless, banks look strong and can give an up movement in days to come.

NIFTY has strongly established 11,550-11,600 as a resistance. So, once that is broken, it may then move up till 11,800. 

Donald Trump getting out of hospital is amazing news for the markets all around. US markets have closed significantly up.

US Markets are up. Asian markets are up. SGX NIFTY is trading at 11,565, which is 45 points higher, indicating a gap up opening in the Indian Market. 

NIFTY is likely to trade between 11,450 and 11,650 today. There is support at 11,550 and 11,500 and resistance at 11,570 and 11,600.

Highest Call Open Interest at 12,000, followed by 12,500. Highest Put Open Interest at 10,500, followed by 11,000. 

Foreign institutional investors (FIIs) net bought shares worth Rs 236.71 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 471.56 crore in the Indian equity market

IT Sector may continue its bullishness today, owing to the results season starting tomorrow.

With the Trump situation cleared, all looks good in the market. All the best!