Nifty forms a bearish candle on daily chart. What does it signal for tomorrow’s trade? – The Economic Times

Wall Street opens higher on earnings boost; supply chain worries linger

The Dow Jones Industrial Average rose 17.85 points, or 0.05 per cent, at the open to 35,475.16. The S&P 500 opened higher by 4.79 points, or 0.11 per cent, at 4,524.42, while the Nasdaq Composite gained 30.91 points, or 0.20 per cent, to 15,160.00 at the opening bell.

NBCC gets projects worth Rs 375 crore in Haryana, Delhi, Rajasthan for consultancy

State-owned NBCC (India) Ltd has bagged orders worth Rs 375 crore in Haryana, Delhi, and Rajasthan as a project management consultant. In a regulatory filing, NBCC said the company has been awarded the work order for engagement as Project Management Consultant (PMC) for construction of phase III of BPS Government Medical College, Khanpur Kalan, Sonepat, Haryana. “The total cost of the project is Rs 285 crore approx. subject to the revision as per Haryana Schedule Rates (HSR) 2021 plinth area rates,” the filing said.

Mirae Asset MF AUM crosses Rs 1 lakh crore

Mirae Asset Investment Managers (India) Pvt Ltd on Wednesday said its assets under management have crossed the Rs 1 lakh crore mark. Mirae Asset, which began its journey in India in 2008, crossed the threshold as on October 14, 2021, the fund house said in a statement. It, further, said that growth in assets under management (AUM) over the last five-and-a-half years has been around 10 times.

Rupee rallies 47 paise to close at 74.88 against US dollar

At the interbank forex market, the local unit opened strong at 75.10 against the greenback and later gained strength to settle at 74.88, higher by 47 paise over its previous close of 75.35. The local unit moved in a range of 74.83 to 75.13 in the day trade. The currency market was closed on Tuesday for the ‘Id-E-Milad’ holiday. Forex traders said the rupee’s rise was mainly supported by softening crude oil prices in international markets.

Among the 30 Sensex stocks, 22 stocks ended in the red

RIL, HDFC twins drag Sensex 456 pts lower; Nifty below 18,300

Gold, silver spot prices

European stocks steady, FTSE 100 flat

European shares were flat on Wednesday as strong results from Nestle boosted food company stocks and made up for disappointing earnings from a clutch of firms, including French luxury group Kering and Dutch semiconductor company ASML. The pan-European STOXX 600 index inched up 0.1%, reversing slight opening losses after Asian peers tracked a strong finish on Wall Street. London’s FTSE 100 was little changed on Wednesday as fears that the Bank of England would raise interest rates as early as next month persisted despite an unexpected slowdown in inflation.

Asian markets mostly up on strong earnings

Most Asian markets rose again on Wednesday, joining a global rally fuelled by strong earnings, while investors kept tabs on comments from the Federal Reserve as it prepares to bring an end to its vast financial support programme. Tokyo, Sydney, Wellington, Bangkok and Manila all rose, though there were slight losses in Shanghai, Singapore, Taipei and Seoul. Hong Kong led the gains, jumping more than one percent.

BofA Survey shows fund managers worried about growth expectations

The latest monthly survey by Bank of America Securities showed fund managers are increasingly worried about growth expectations, China and stagflation. Cash levels are at a one-year high while growth expectations are the weakest since April 2020, the survey showed.

Nifty Auto all in red; Down 1.88%

Price as on 20 Oct, 2021 02:37 PM, Click on company names for their live prices.

Tata Steel BSL trading 1.28% down despite reporting over a five-fold jump in its consolidated net profit to Rs 1,837.03 crore for the September 2021 quarter, mainly on account of higher income. In a BSE filing, the company said it had clocked a net profit of Rs 341.71 crore during the corresponding period of the previous financial year 2020-21.

Price as on 20 Oct, 2021 02:17 PM, Click on company names for their live prices.

Jubilant Foodworks Q2 net jumps 58% YoY

Jubilant Foodworks today reported a 58 per cent year-on-year rise in net profit to Rs 121.5 crore for the quarter ended September, which was above analysts’ expectations. The company reported a 36.6 per cent on-year growth in revenue from operations to Rs 1,100.7 crore for the reported quarter, which was also above Street’s estimate.

20 out of 30 stocks in BSE smallcap index trading in green

Nifty Energy trading all in red; down 1.45%

Ipca Laboratories board to consider stock split on Nov 13. The stock is trading 2% down.

Price as on 20 Oct, 2021 01:24 PM, Click on company names for their live prices.

Shares of ICICI Securities trading in the red after gaining almost 2 per cent on Wednesday after the company reported a 26 per cent rise in net profit to Rs 351 crore in July-September from Rs 278 crore a year ago.

Price as on 20 Oct, 2021 01:22 PM, Click on company names for their live prices.

Rallis India is trading 6.40% down. The Tata group company reported a 32.53 per cent decline in consolidated profit after tax (after exceptional items) during the quarter ending September 30, to Rs 56 crore mainly due to erratic monsoon season.

Price as on 20 Oct, 2021 01:18 PM, Click on company names for their live prices.

10-year gilt at 18-month high as relentless crude rally brings rate hike spectre closer

Yield on the 10-year benchmark government bond rose to its highest level in one-and-a-half years on Wednesday as a relentless rise in global crude oil prices and worries of higher inflation worldwide, led to speculation of the Reserve Bank of India tightening monetary policy sooner than later. At 12:15 hours (IST), yield on the 10-year benchmark 6.10%, 2031 bond was at 6.40 per cent, the highest level for a 10-year paper since April 16, 2020. Yield on the 10-year paper has climbed 8 basis points since the RBI’s monetary policy statement on October 8, corresponding to a fall in price of roughly 56 paise. Bond prices and yields move inversely.

After rallying a solid 100 per cent in a matter of six trading sessions, Tata group stock Tayo Rolls finally came under pressure on Wednesday hitting its 5 per cent lower circuit limit at Rs 123.20 on BSE. However by 1,15, it was 10% up!

Price as on 20 Oct, 2021 01:15 PM, Click on company names for their live prices.

Port-to-energy conglomerate Adani Group will invest over $50-70 billion in renewable energy value chain over the next decade and the group firms have committed 70 per cent of planned capex until 2030 to the energy transition, its billionaire chairman Gautam Adani said on Tuesday.

Price as on 20 Oct, 2021 12:50 PM, Click on company names for their live prices.

Gold demand to stay subdued, rebound likely only next year: World Gold Council

BSE Power index down 1.54%; NHPC, NTPC, Adani, Power Grid, JSW Energy among those in red

Price as on 20 Oct, 2021 12:41 PM, Click on company names for their live prices.

IRCTC respects 20-DMA, but analysts unsure if bottom is in place: Read more

India plans refiners’ joint oil deals to cut import bill

India is forming a group that brings together state-run and private refiners to seek better crude import deals, oil NSE -2.36 % secretary Tarun Kapoor said on Tuesday, as the country grapples with soaring oil prices. The world’s third largest oil importer and consumer, India depends on imports for about 85% of its crude and buys most of it from Middle East producers.

Deepak Fertilizers & Petrochemicals is trading nearly 3% down: The chemical player launched a qualified institutional placement issue on October 19 and approved the floor price for the same at Rs 422.48 per equity share.

Price as on 20 Oct, 2021 12:21 PM, Click on company names for their live prices.

ACC trading up over 2%: The cement maker reported a 23.74 per cent increase in consolidated net profit to Rs 450.21 crore for the third quarter ended September 30, 2021. The company had posted a profit of Rs 363.85 crore in the same quarter a year ago.

Price as on 20 Oct, 2021 12:20 PM, Click on company names for their live prices.

Is NMDC price correction a good entry point for long-term investors?

Price as on 20 Oct, 2021 12:19 PM, Click on company names for their live prices.

IRCTC down over 15%, Mastek 13%

Price as on 20 Oct, 2021 12:12 PM, Click on company names for their live prices.

Unilever India warns of inflationary pressures after profit jump

Hindustan Unilever, the Indian arm of the global consumer goods titan, posted quarterly profit in line with market estimates, boosted by a broad economic recovery that was overshadowed by warnings of inflationary challenges ahead. “We haven’t seen this kind of inflation for many years,” Chairman and Managing Director Sanjiv Mehta told reporters on a media call.

NSE Midcap 50 index trading 1.34% down at 12.01 pm

Despite nearly 47 per cent jump in its net profit to Rs 445 crore for Q2 ended September 30, ICICI Prudential Life Insurance, the stock is trading 4.63% down.

Price as on 20 Oct, 2021 12:03 PM, Click on company names for their live prices.

BSE Metals index tanks 2%; 10 of 10 index stocks in the red

BSE Realty index off 11-year high, down 0.8%

Price as on 20 Oct, 2021 11:44 AM, Click on company names for their live prices.

Aviation Minister to make changes in fare cap for airlines post festive season: ET Now sources

A massive selling by DIIs suggest that smart money regards markets as overvalued and overheated. The market direction will depend on whether the exuberant retail investors will again rush in to absorb the selling by institutions.

– VK Vijayakumar, Geojit Financial Services.

Analysts unfazed by UltraTech Cement’s muted Q2 numbers

Mastek tanks 15% on less-than-expected Q2 results

Shares of Mastek tanked as much as 15 per cent during the early trade on Wednesday after a muted performance in the September 2021 quarter. The IT software player reported a 42 per cent rise in net profit to Rs 72.29 crore in the quarter ended September 30, 2021 as against Rs 50.95 crore during the corresponding quarter previous fiscal. Following the updates, the scrip tanked 15 per cent to Rs 2903.10 on Wednesday, but the scrip marginally recovered to Rs 3024.40 at 10 am.

IRCTC, Vodafone Idea among stocks in F&O ban list

Price as on 20 Oct, 2021 10:09 AM, Click on company names for their live prices.

ACC jumps 4% on strong Q2 results

Shares of ACC jumped almost 4 per cent in early trade in Mumbai on Wednesday as the cement maker reported a 23.74 per cent year-on-year rise in consolidated net profit to Rs 450.21 crore in July-September. The company’s scrip was at Rs 2,327.70 on the National Stock Exchange, up 3.79 per cent from previous close. The cement maker’s total revenue from operations in July-September increased 5.98 per cent to Rs 3,749 crore from Rs 3,537.31 a year ago.

Opening Bell: Sensex gains 100 points, Nifty at 18,450; IRCTC, Mastek plunge 10% each

Pre-open session: Sensex gains 80 points, Nifty at 18,410

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 36 points, or 0.20 per cent, higher at 18,462.50, signaling that Dalal Street was headed for a positive start on Wednesday.

Tech View: Nifty50 support at 18,300

NIfty50 on Tuesday snapped a seven-day winning streak and formed a bearish candle on the daily chart, with no upper wick, suggesting selling pressure from the word go. The index negated the higher lows it was forming for the past couple of sessions. Technical indicators such as the 14-day RSI suggest the index is still in the overbought zone. A consolidation is likely, said analysts, who believe the 18,300 level would be a crucial support for the index.

Q2 earnings today

Hong Kong stocks rise at start of the day

Hong Kong shares rallied more than one percent in the opening few minutes of trade Wednesday, building on a three-day advance and following another healthy lead from Wall Street fuelled by more positive earnings reports. The Hang Seng Index climbed 1.11 percent, or 286.99 points, to 26,074.20. The Shanghai Composite Index dipped 0.28 percent, or 9.92 points, to 3,583.24.

Japan stocks open higher extending US gains

Tokyo stocks opened higher on Wednesday, extending US rallies supported by buoyant corporate earnings, with a cheaper yen also helping boost Japanese shares. The benchmark Nikkei 225 index was up 0.63 percent or 184.51 points at 29,400.03 in early trade, while the broader Topix index advanced 0.54 percent or 11.01 points to 2,037.58.

US stocks settled higher

US stock indexes closed higher on Tuesday with the biggest boosts from the technology and healthcare sectors as investors appeared to bet on solid quarterly reports even as some worried that it was too early to celebrate. The Dow Jones Industrial Average rose 198.7 points, or 0.56%, to 35,457.31, the S&P 500 gained 33.17 points, or 0.74%, to 4,519.63 and the Nasdaq Composite added 107.28 points, or 0.71%, to 15,129.09.

Rupee drops 9 paise to 75.35 against dollar

The currency market was closed on Tuesday on account of Id-E-Milad. The rupee ended 9 paise lower at 75.35 against the US dollar on Monday, tracking a stronger greenback against key rivals overseas and rising global crude oil prices. At the interbank forex market, the local unit opened on a steady note and later traded in a narrow range of 75.24 to 75.38 against the American currency.

Sensex, Nifty on Tuesday

Equity benchmarks closed with modest losses on Tuesday after a seven-session winning streak as investors opted to pocket some gains at record levels. After scaling the 62,000-mark for the first time, the 30-share BSE Sensex succumbed to selling pressure in fag-end trade to close 49.54 points or 0.08 per cent lower at 61,716.05. Similarly, the Nifty shed 58.30 points or 0.32 per cent to close at 18,418.75. It touched a new intra-day record of 18,604.45 in early deals.

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