News Shots

FSN E-commerce Ventures, the parent company of Nykaa will get listed on the market today. The company’s IPO was open in the price range of Rs 1,085-1,125 and had a grey market premium of Rs 800.

Power Grid’s consolidated net profit increased by 9% YoY to Rs 3,376.38 crore in Q2 as revenues increased.

Housing Development Finance Corporation, India’s largest NBFC said it will raise Rs 3,000 crore by issuing bonds on a private placement basis.

ITC’s hotel chain launched its luxury brand ‘Mementos’ by signing up the first property in the wedding destination Udaipur. It will expand through property management contracts and won’t look to construct new hotels.

Cipla and U.S-based pharma company Pulmatrix said they have sorted out a funding dispute regarding an underdevelopment medication for asthma.

Max Financial Services reported an over 41% YoY fall in its consolidated net profit to Rs 47.65 crore for Q2.

Hindustan Copper reported a seven-fold rise YoY in consolidated profit after tax to Rs 67.53 crore for the quarter ended September.

Indian Hotels, Tata group’s hospitality firm has fixed the rights issue price at Rs 150 per share to raise a total of Rs 1,982.10 crore from the eligible shareholders. The current market price of the stock is over Rs 220.

It is the last day of the PAYTM IPO and the issue has been subscribed only 48%. If an IPO is not subscribed to at least 90%, it could get cancelled. Watch out for today’s afternoon data before applying.

IDFC’s Board has approved the merger of IDFC Alternatives, IDFC Trustee Company and IDFC Projects into IDFC subject to regulatory approvals to simplify its corporate structure.

Major Earnings Today:

  • Pidilite Industries
  • Zomato
  • Oil India
  • Bank of Baroda
  • Berger Paints
  • Birla Corporation
  • Crisil
  • Alembic Pharmaceuticals
  • Glenmark Life Sciences
  • Narayana Hrudayalaya
  • NIIT
  • Rail Vikas Nigam
  • Firstsource Solutions
  • Affle (India)
  • India Cements
  • RCF
  • General Insurance Corporation of India
  • Jamna Auto Industries

What to expect today?

Yesterday, NIFTY opened a flat at 18,088 and tried to break 18,100. After failing to break the resistance, NIFTY started moving down slowly in a channel. The index made an up-move towards the close, ending the day at 18,044, down 24 points or 0.13%.

BANK NIFTY was volatile after opening at 39,517. Even though ICICI Bank and SBI tried to support the index, HDFC Bank pulled it down. BANK NIFTY closed at 39,368, down 70 points or 0.18%.

All the major sectors consolidated while NIFTY AUTO(+1.03%) moved up.

The US markets closed in the red. The European markets opened with a gap-down but recovered to close flat except FTSE which ended in the red. 

The Asian markets are trading in the red, following the west. U.S. Futures and European Futures also are trading in the red. 

SGX NIFTY is trading lower at 17,968 indicating a gap-down opening in the Indian market. 

Major supports for NIFTY are at 18,000, 17,940, 17,880 and 17,835. We can expect resistances at 18,100, 18,175, 18,230 and 18,320.

BANK NIFTY has support at 39,300, 39,000 and 38,900. Resistances are at 39,500, 39,750 and 40,000.

The highest call OI build up in NIFTY is at 18,200 and the highest put OI build-up is at 17,900.

BANK NIFTY has the highest call OI buildup at 40,000. The highest put OI build-up is at 39,000.

INDIA VIX is at 16 now.

Foreign Institutional Investors net sold shares worth Rs 2445.25 crores. Domestic Institutional Investors net bought shares worth Rs 1417.63 crores.

With this, FIIs have continued to be net sellers for a huge amount in November as well. Domestic Institutions have kept up and bought. It will be a bit dangerous in November for the Indian market if foreign institutions continue to sell heavily.

NIFTY displayed a mood of consolidation and still closed above 18,000. There was a last-minute positivity from heavyweight Reliance with which NIFTY tried to break its bearish trend. 

HDFC Bank is near a 2-month low even as parent company HDFC is near its all-time highs. A bounce back in the stock can help support the market from falling further.

Still, the gap-down opening is expected as all global markets are in the red. So watch out for the first one and a half hours for a trend of the day, and see if IT stocks support the market. Trade according to the trend!

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