THURSDAY 

29-OCT-2020

 

 Volatile session ahead of October series F-O Expiry

FLAT  to NEGATIVE  MARKET

 

Today’s Market Prediction:

• Indian stock market Would open NEGATIVE
• Technically, Indian stock matket is Still in positive zone
• Nifty index formed formed a bearish candle on the daily charts.
• India VIX up by 4.88 percent at 22.20 level.
• Oil plunges over 5% to four-month low
• RBI imposes monetary penalty on DCB Bank, Jio Payments Bank for rule violations
• ECB to pave way for more stimulus as recession fears grow
• Record US third-quarter growth assured as goods trade deficit falls, inventories rise
• Pidilite Industries: Board approved acquisition of Huntsman Advanced for approximately Rs 2,100 crore.
• Bharat Electronics | Company paid Rs 174.44 crore final dividend to Government of India.
• Vikas Multicorp | LTS Investment Fund acquired 34 lakh equity shares in company at Rs 7.65 per share.

Stocks in the NEWS

• Axis Bank posted a profit of Rs 1,682.7 crore in Q2 FY21 against a loss of Rs 112.1 crore. Net interest income rose to Rs 7,326.1 crore from Rs 6,101.8 crore YoY.
• PI Industries reported higher profit at Rs 217.6 crore in Q2 FY21 against Rs 123.2 crore. Revenue rose to Rs 1,157.7 crore from Rs 907.4 crore YoY.
• RBL Bank reported sharply higher profit at Rs 144.2 crore in Q2 FY21 against Rs 54.3 crore. Net interest income rose to Rs 932.1 crore from Rs 868.7 crore YoY.
• Can Fin Homes reported a profit of Rs 128.4 crore in Q2 FY21 against Rs 97.62 crore. Revenue increased to Rs 525.8 crore from Rs 500.67 crore YoY.
• Larsen & Toubro (L&T) reported higher profit at Rs 5,520.3 crore in Q2 FY21 against Rs 2,527.3 crore. Revenue fell to Rs 31,034.7 crore from Rs 35,328.5 crore YoY.
• ICICI Securities reported sharply higher profit at Rs 278 crore in Q2 FY21 against Rs 135 crore. Revenue jumped to Rs 680.6 crore from Rs 417 crore YoY.
• Wipro | Company to acquire Encore Theme Technologies, a specialist Finastra software partner in financial services.
• Blue Star | Company reported lower profit at Rs 15.32 crore in Q2FY21 against Rs 37.94 crore, revenue fell to Rs 902 crore from Rs 1,249.47 crore YoY.
• Infosys | Company completed the acquisition of Blue Acorn iCi, an Adobe Platinum partner in the US.
• AU Small Finance Bank | Company reported profit at Rs 322 crore in Q2FY21 against Rs 172 crore, total income rose to Rs 1,498 crore from Rs 1,184 crore YoY.
• Aptech | Company reported profit at Rs 1.84 crore in Q2FY21 compared to Rs 10.97 crore, revenue fell to Rs 34.2 crore from Rs 71.51 crore YoY.
• Piramal Enterprises | Company reported profit at Rs 628 crore in Q2FY21 against Rs 551.4 crore, revenue rose to Rs 3,301.8 crore from Rs 3,270.5 crore YoY.

Market lndication:

Global: FLAT to NEGATIVE

NIFTY:  FLAT to NEGATIVE

BANKNIFTY:  FLAT to NEGATIVE

BULK Deals: Vikas Multicrop, Siti Networs, Tera Softwere

Stocks In F&O Ban Period:   Coforge and Vodafone Idea

Results Today: Maruti Suzuki, BPCL, Bank of Baroda, Canara Bank, Havells India, Vodafone Idea, InterGlobe Aviation, Tata Chemicals, TVS Motor Company, AAVAS Financiers, Aegis Logistics, Apollo Pipes, Arvind, Astec Lifesciences, Bajaj Healthcare, Blue Dart Express, Cholamandalam Investment and Finance Company, Coromandel Engineering, Gateway Distriparks, Great Eastern Shipping, Himadri Speciality Chemical, JK Paper, Laurus Labs, Mastek, Mahindra Holidays, MRPL, PTC India Financial Services, Security and Intelligence Services, Shriram Transport Finance, Strides Pharma Science, Surya Roshni, Vaibhav Global, Welspun Corp, Welspun India and Zensar Technologies

 

SGX NIFTY:  (Negative)

11656.50     -68.00    -0.58%

 

FII-DII: FIIs were net sellers of Rs.1130.98 crores whereas DIIs were net buyers of Rs.1.48 crores in cash market for last trading session.

NIFTY (11729): The support for the Nifty is: 11633-11536-11450 and the resistance to the up move is at: 11877-12025-12085 levels.

BANKNIFTY (24232): The support for BankNifty is: 23933-23634-23335 and the resistance to the up move is at 24656-25079-25500 levels.