Live: SGX Nifty Indicates A Flat Start; RIL, Apollo Pipes, HPCL, Indian Oil In Focus

• Tata Group Stocks: The Mistry-family owned SP Group has proposed a plan of separation from Tata Sons. The SP Group has proposed a selective reduction of capital at Tata Sons, thereby extinguishing the shares held by them. In exchange, SP Group can be granted shares in listed companies of the group. It has also proposed cash consideration or shares for brand value, unlisted assets etc. The SP Group holds 18.37% stake in Tata Sons, which it values at more than Rs 1.75 lakh crore.
• HPCL: To consider share buyback on November 4.
• InterGlobe Aviation: To defer decision on Qualified Institutional Placement to December.
• ICICI Prudential Life Insurance: Board approved raising Rs 1,200 crore via NCDs.
• Aviation Stocks: Hardeep Singh Puri, Minister of Civil Aviation stated that there will be an extension of the fare-cap on airlines by another three months.
• Indian Energy Exchange: Signs agreement with MCX which will enable the latter to use IEX's electricity clearing prices for settlement of its electricity derivative contracts.

To know more about earnings reported after market hours, brokerage updates and F&O cues, click here.

Good Morning!

Indian equity markets ended the October future and options series on a sombre note, declining for the second straight day. The losses, however, were modest, compared to global peers.

Futures are again indicating that the first trading session of the November series may begin with a negative bias. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.3% to 11,635 as of 7:50 a.m. on Friday.

The S&P BSE Sensex and NSE Nifty 50 have lost more than 2% so far this week.

Four Nifty 50 constituents—Indian Oil, UPL, IndusInd Bank and Reliance Industries—will report their second-quarter earnings. Deepak Nitrite, Dhanuka Agri, Dixon Technologies, Just Dial, JSPL, Edelweiss, DLF are some of the non-Nifty companies that will announce results today.

Globally, Asian Markets are declining on the final trading day of the week, with Japanese markets falling over 1%. Losses are modest in Hong Kong and Australia.

Futures on the Dow Jones are currently trading 165 points lower. The index ended with gains of 0.5% on Thursday.

West Texas Intermediate crude was up 0.4% to $36.3 per barrel after falling to multi-month lows on fears of demand destruction from stricter lockdown measures.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.