Sensex and Nifty are likely to open higher Monday as most of the Asian shares jumped to a decade high in the early trade today. The early indicator of NSE Nifty — SGX Nifty Futures — was also trading higher, up 0.39% at 10,250.5 points on the Singapore Stock Exchange. Second quarter earnings from the blue-chip companies such as Bajaj Finance, Axis Bank, IndusInd Bank, and Wipro and inflation data will steer the stock market trend in the three-day trading week ahead. The domestic stock markets would be closed on Thursday and Friday for Diwali. Markets will open on Diwali (Thursday) for an hour for Muhurat trading session.
Shares of Bajaj Finance, Bajaj Finserv, Binani Industries, Colgate, DCB Bank, Delta Corp, DHFL, Federal Bank, Hatsun Agro, JM Financial, Kansai Nerolac, Oberoi Realty, Persistent Systems, Sasken Tech, Sterlite Tech, Texmaco Rail, Texmaco Infra, and Zee Learn will be in focus ahead of the second quarter results.
These stocks will be in focus today
IndusInd Bank: Private lender IndusInd Bank will acquire Bharat Financial Inclusion Ltd (BFIL), the country’s second-largest microfinance company, a move that will help increase the bank’s size and reach. the transaction is expected to be completed in the next 10 months, PTI reported.
Reliance Industries: Mukesh Ambani’s ambitious telecom venture Reliance Jio reported a loss of Rs 270.59 crore in its first quarterly financial performance for the period ended September 30. However, Reliance Industries Ltd’s fiscal second-quarter net profit at Rs 8,097 crore just about met the expectations despite the Jio loss, on the back of healthy refining margins.
Punjab National Bank: Public sector Punjab National Bank seeks to hire insolvency resolution professionals for 2017-18, according to a notification by the bank.
DMart: Avenue Supermarts, which owns and operates retail chain DMart reported a net profit for the July-September quarter of Rs 191 crore, registering a year-on-year increase of 65.2 per cent.
Idea Cellular: Shares of Idea Cellular soared nearly 6 per cent today after shareholders of the telecom operator approved the scheme relating to the merger of its mobile business with Vodafone India.
Reliance Naval and Engineering: Reliance Naval and Engineering standalone loss widened to Rs 150.6 crore for the second quarter ended September 30.
MCX: Leading commodity exchange MCX posted 24.75 per cent fall in standalone net profit to Rs 28.33 crore for the quarter ended September 30 of 2017-18 fiscal.
Coal India: The government said Coal India has achieved production growth of 13 per cent in the current month so far.
Karnataka Bank: Private sector lender Karnataka Bank reported a fall of nearly 25 per cent in net profit at Rs 93.38 crore for the second quarter ended September as bad loans mounted and the provisions to cover those also moved up.
Indian Rupee on Friday: The rupee surged by 15 paise to end at a fresh three-week high of 64.93 on easing macro worries coupled with record-setting domestic equities.
Indian markets on Friday
The Nifty today shattered all records to close at a life high of 10,167 and the Sensex rallied to an over two-month high as steady inflation and strong IIP numbers did the job for investors looking for triggers. The 50-share NSE Nifty closed at 10,167.45 — a new peak — up 71.05 points, or 0.70 per cent, after scaling new intra-day high of 10,191.90. It broke previous record closing of 10,153.10 hit on September 18. It also broke the intra-day record of 10,178.95 reached on September 19.
The 30-share BSE Sensex opened positive, but shed some ground to settle the session higher by 250.47 points, or 0.78
per cent, at 32,432.69, its biggest closing since August 2.
US markets on Friday
U.S. stocks rose on Friday following upbeat economic data and gains in technology shares, pushing the Dow and the S&P 500 to a fifth straight week of gains. The Dow Jones Industrial Average rose 30.71 points, or 0.13 percent, to end at 22,871.72, and the S&P 500 gained 2.24 points, or 0.09 percent, to 2,553.17. The Nasdaq Composite added 14.29 points, or 0.22 percent, to 6,605.80, a record closing high.
NSE (Image: Wikimedia Commons)
