F&O expiry, winter session to dictate trend on D-Street

The Indian equity markets are likely to open positive, going by the early trend in the SGX Nifty that is trading higher, however, volatility is expected to remain throughout the day ahead of the derivatives contracts expiry for the month of November.  

Markets were closed on Wednesday on account of Guru Nanak Jayanti.  At 8:30 am, the early indicator, SGX Nifty is trading at 0.24% higher.

The winter session of the Parliament, which kick-starts today, will also prove to be an important trigger for the markets. The NDA government was unable to get the key legislations such as Goods and Services Tax (GST) and land acquisition bill to pass through in the monsoon session.

The market players would keenly watch the proceedings of this session as the debacle of NDA government in Bihar elections has exhilarate the opposition. The intolerance issue and the passage of key bills would dictate the trajectory of the winter session.  

Asian markets are trading higher on Thursday taking cues from European and US markets. Nikkei is trading at 0.5% while HangSeng is trading 1% higher.

Overnight, Wall Street closed flat ahead of the Thanksgiving break. On the economic front, the US jobless claims dropped more than expected to 260,000.

STOCKS IN FOCUS

Hero Motocorp: US private equity firm Bain Capital is selling shares in Hero MotoCorp to raise as much as $116 million, or about Rs 769.72 crore, a person close to the deal cited.

Dr. Reddy’s Lab: The US Food and Drug Administration (US FDA) has said it might withhold approval of the company's fresh drugs and stop import if no corrective action is taken.  The stock was in focus after it received a warning letter from US FDA over quality issues in three of its plant.

Idea Cellular, Videocon: In India’s first telecom spectrum trading transaction, Videocon Telecommunications, a subsidiary of Videocon Industries, has sold its spectrum in Gujarat and UP (West) circles to Aditya Birla group’s Idea Cellular at a valuation of Rs 3,310 crore.

Reliance Communications: Reliance Communications (RCom) is close to finalising a deal to sell its entire stake in tower unit Reliance Infratel.

HDFC Bank: Country's second largest private sector lender HDFC Bank, which has launched 'sonic branding' or a musical logo, has said it will spend over Rs 30 crore to promote the new brand positioning which stresses on the digital banking.

Mahindra & Mahindra: Mahindra & Mahindra, has announced the launch of the automatic variant of the XUV5OO priced at Rs 15.36 lakh (ex-showroom, Navi Mumbai)

Sun Pharma: Sun Pharmaceutical Industries has shelved plans to invest in a $225-million wind energy project in the US following investor concerns.

PSB Banks: Stepping up the drive to clean up the balance sheets of public sector banks (PSBs), the finance ministry has asked for specific recovery plans from six lenders, including Bank of India (BoI), Indian Overseas Bank (IOB) and UCO Bank.

DLF: Realty major DLF's promoters have bought 23 lakh shares of the company through open market transactions for nearly Rs 25 crore, raising their stakes to 74.99%.


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