News Shots

Yes, the US Presidential Elections have completed and that is the only thing to be discussed about today.

This is the current update – Joe Biden is leading. Joe Biden has won 131 electors so far, while Trump currently has won 92. As you should be knowing, one needs to get 270 electors out of the total 538 to win the Presidential Election.

So far, it looks like the Democrats are winning. But some swing states might go in Trump’s favour and thus, the result can change anytime. It indeed is a very tight battle. And that is a major reason for our markets to be highly volatile. We should get a clear picture by 10-11 am. You can follow this yourself by visiting – https://www.bloomberg.com/asia

Kotak Mahindra Bank announced that it has reduced its interest rates on home loans by a further 15 basis points (bps) to 6.75 per cent, one of the lowest in the segment.

Ajanta Pharma has announced share buyback worth Rs 136 crore. Board to buyback 7.35 lakh shares or 0.84% of total equity at Rs 1,850 per share. The buyback price is a 15% premium to Tuesday’s closing price. Record date for the same has been set as November 13.

PVR got a complete rent waiver on lockdown period on 60% of its screens and significant discounts on reopening. They have secured permission to re-open 575 out of the total 831 screens.

Multi Commodity Exchange of India has invited proposals from technology companies to set up an advanced commodity derivatives platform for trading and clearing services, as its contract with 63 Moons will expire in September 2022.

Adani Ports and Special Economic Zone posted 31.57 per cent year-on-year growth in consolidated net profit at Rs 1,393.69 crore for the quarter ended September.

Dabur India reported a 13.7 percent growth in consolidated revenue for the quarter ended September 30 at Rs 2,516 crore, which it said was the highest revenue growth in the last couple of years.

Kansai Nerolac reported an 11.56 per cent fall in consolidated net profit at Rs 167.96 crore for the quarter ended September 30.

Muthoot Finance reported a 2.5 per cent increase in consolidated net profit at Rs 930.80 crore.

IIFL Finance reported more than two-fold jump in its consolidated net profit to Rs 212.68 crore due to a rise in interest income and gains from other sources.

Deepak Fertilizers and Petrochemicals posted an over three-fold jump in its consolidated net profit to Rs 80.55 crore.

Some Major Q2 Results to be Announced Today:

  • State Bank of India
  • Adani Enterprises
  • Happiest Minds
  • Indian Hotels
  • Lupin
  • Pidilite Industries

What to expect today?

Yesterday, there was positivity in markets all around the globe. The Indian markets also moved up tracking the global markets. Click here for a detailed analysis of yesterday’s market and stock movements. 

Bank Nifty was the buzzing sector from yesterday. It moved up more than 3% after the good results from all banks. It crossed 25,500 and has created a new post COVID high.

The global markets moved up, in expectations of a clear winner in the US.

As discussed, we are yet to get a conclusive idea on the election result. It looks very close now and thus, the market will be highly volatile today. After 10-11 am, when we have a clear idea is when we can get an easy trending market.

US Markets are up. Europe is up. Asian markets are mostly up. SGX NIFTY is trading at 11,783, which is 43 points lower, indicating a flat opening in the Indian Market. 

NIFTY is likely to trade between 11,500 and 12,000. Do expect huge volatility today.

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

Foreign institutional investors (FIIs) net bought shares worth Rs 2,274.4 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 1,100.92 crore.

Stay safe from volatility. Do follow us on marketfeed app’s livefeed section to get real time updates about the US election. All the best for the day!

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