F&O expiry: L&T, HDFC twins drag Sensex 173 pts; Nifty settles at 11,671

India VIX gained over 3.5 per cent to 24 levels.
The domestic stock market ended nearly 0.5 per cent lower on Thursday, the last day of the futures and options (F&O) contracts for the October series. 

The S&P BSE Sensex ended 173 points, or 0.43 per cent lower at 39,750 levels while NSE's Nifty ended at 11,671, down 59 points, or 0.5 per cent. India VIX gained over 3.5 per cent to 24 levels. 

HDFC Bank, HDFC, and L&T were the major contributors to the Sensex's fall today while Reliance Industries (RIL), and Asian Paints gave the much-needed support. 

In the broader market, the S&P BSE MidCap index ended flat at 14,812 levels while the S&P BSE SmallCap index dropped 0.5 per cent to 14,893 levels. 

On the NSE, barring Nifty IT, all the other sectoral indices ended in the red. 

Global markets

European stocks edged higher on Thursday after strong earnings reports from companies including oil major Royal Dutch Shell and chip equipment supplier ASM, but sentiment remained fragile a day after a broad selloff on lockdown fears.

In Asia, stock markets fell. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.6 per cent, with the heaviest drops in Australia, down 1.6 per cent, and South Korea, down 1 per cent.

Japan’s Nikkei fell just 0.3 per cent, Chinese blue chips rose 0.5 per cent and the yuan led a gentle bounce in Asian currencies against the greenback.

In commodities, oil prices declined. 

(With inputs from Reuters)

4:05 PM IST As expected, the Indian stock market has turned its focus from Q2 result driven rally to international developments as the global market is worsening. Markets across the world are volatile because of rising corona cases impacting the recovery of the economy and ambiguities over the US election and stimulus package. Additionally, today Indian indices ended weak following October monthly F&O expiry. This weakness can stay for the short-term, a reversal can happen as strong fiscal and monetary stimulus is expected from governments and central banks in the world to overcome the crisis.

3:43 PM IST

3:42 PM IST

3:35 PM IST The S&P BSE Sensex dropped 173 points, or 0.43 per cent to settle at 39,750 levels while NSE's Nifty ended at 11,671, down 59 points, or 0.5 per cent. 

3:27 PM IST

3:15 PM IST -- Cabinet approves 20% jute bag packaging for sugar

3:13 PM IST

3:11 PM IST

3:03 PM IST

2:50 PM IST State-owned Bank of Baroda on Thursday reported a standalone net profit of Rs 1,678.6 crore for July-September quarter (Q2FY21) on the back of lower provisons. In the previous quarter of the current fiscal (Q1FY21), the lender had incurred a loss worth Rs 864.26 crore. On a yearly basis, PAT grew 128 per cent from Rs 736.6 crore. READ MORE

2:45 PM IST

2:33 PM IST Shares of paint companies were in the limelight on Thursday with sector giants Asian Paints and Berger Paints surging 3 per cent each to hit their respective fresh highs of Rs 2,232 and Rs 625 at the bourses in an otherwise weak market on expectation of higher volume growth. READ MORE 

LIVE UPDATES

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

As expected, the Indian stock market has turned its focus from Q2 result driven rally to international developments as the global market is worsening. Markets across the world are volatile because of rising corona cases impacting the recovery of the economy and ambiguities over the US election and stimulus package. Additionally, today Indian indices ended weak following October monthly F&O expiry. This weakness can stay for the short-term, a reversal can happen as strong fiscal and monetary stimulus is expected from governments and central banks in the world to overcome the crisis.

SECTOR WATCH | Nifty IT bucks the trend, ends in the green


MARKET AT CLOSE | Losers and gainers on the BSE Sensex


CLOSING BELL

The S&P BSE Sensex dropped 173 points, or 0.43 per cent to settle at 39,750 levels while NSE's Nifty ended at 11,671, down 59 points, or 0.5 per cent. 

MARKET CHECK


NEWS ALERT | Cabinet approves 100% jute bag packaging for food grains: CNBC TV18

-- Cabinet approves 20% jute bag packaging for sugar

Heatmap: S&P BSE Sensex gainers and losers at this hour


UltraTech Cement gains over 3%


MARKET CHECK | Sensex down 0.6%


Bank of Baroda back in the black in Q2, reports net profit of Rs 1,679 cr

State-owned Bank of Baroda on Thursday reported a standalone net profit of Rs 1,678.6 crore for July-September quarter (Q2FY21) on the back of lower provisons. In the previous quarter of the current fiscal (Q1FY21), the lender had incurred a loss worth Rs 864.26 crore. On a yearly basis, PAT grew 128 per cent from Rs 736.6 crore. READ MORE

MARKET CHECK


Paint shares shine in a weak market; Asian, Berger Paints hit record highs

Shares of paint companies were in the limelight on Thursday with sector giants Asian Paints and Berger Paints surging 3 per cent each to hit their respective fresh highs of Rs 2,232 and Rs 625 at the bourses in an otherwise weak market on expectation of higher volume growth. READ MORE 


Maruti Suzuki posts 19% YoY growth in Q2 profit at Rs 1,534 crore

Auto major Maruti Suzuki on Thursday reported 19.16 per cent year-on-year growth in consolidated profit at Rs 1,533.6 crore for the September quarter of FY21 (Q2FY21) while revenue rose 10.34 per cent per cent to Rs 18,755.6 crore. The company had posted revenue of Rs 16,997.9 crore and profit of Rs 1,287 crore in the corresponding quarter of last year. READ MORE

L&T, Axis Bank, Bharti Airtel: Trading strategies for stocks post Q2 result

Larsen & Toubro Ltd (LT): The stock witnessed a gap-down start on October 29 after breifly breaching the 200-days moving average (DMA) on the upside. If the stock fails to show any immediate reversal, it may not be able to hold the positive stance. The support levels come in the range of Rs 925 to Rs 923, which are its 100-DMA and 50-DMA levels, respectively. READ MORE

Rupee Closing

Rupee settles lower at 74.11 per US dollar vs Wednesday's close of 73.88/$

Sept Quarter Result | Maruti Suzuki logs profit of Rs 1,371.6 crore

>> Revenue comes in at Rs 18,744.5 crore

>> EBITDA stands at Rs 1,933 crore

>> EBITDA margin at 10.3%

Axis Bank well-placed to face downside risks due to tough conditions: S&P

Bank's risk appetite, which has been subdued over the past six months, is expected to grow in line with the system average for the fiscal year ending March 31, 2021. However, it is well positioned to take advantage of a potential economic rebound and grow faster than the industry average in FY22 and FY23. READ MORE

India's yearly gold demand in 2020 can be the lowest since 1995: WGC

As per WGC data, the calendar year 1995 was the worst with the yearly gold demand in India at 462 tonnes, which improved marginally to 511 tonnes in 1996, 547 tonnes in 2002 and 642 tonnes in 2009. READ MORE 


NEWS ALERT | There will be much more work on digital transformation: Infosys CEO Salil Parekh

-- Have launched our cloud brand 'Infosys Cobalt': Parekh

-- (via CNBCTV18)

Pidilite Industries advances 5% on acquisition of Huntsman Group arm

Shares of Pidilite Industries rose 5 per cent to Rs 1,595 on the BSE on Thursday after the company said it has acquired the consumer & bazaar business of Araldite in Indian sub-continent. This is for a cash consideration of approx. Rs 2,100 crore, it said. “The board of the company approved a definitive agreement with Huntsman Group (USA) for acquiring 100 per cent stake in one of their subsidiaries in India namely, Huntsman Advanced Materials Solutions Private Limited (HAMSPL),” Pidilite Industries said in a press release today. READ MORE

Q2 RESULTS | BPCL standalone net profit at Rs 2,248 crore

-- Revenue at Rs 50,146.4 crore

MARKET UPDATE:: Broader indices underperform benchmarks; India VIX up 4%


INDEX GAINER | Asian Paints up over 2%


Crude oil price rebound may come in late 2021, says pipeline giant

“Given the combination of the record retrenchment in drilling and completion activities by US producers, refocused capital allocation and the effects of steep decline curves resulting in a decrease in shale production, we believe this price signal for higher crude oil prices could occur as early as the second half of next year,” Jim Teague, co-chief executive officer of Enterprise Products Partners, said on Wednesday in the company’s third-quarter earnings statement. READ MORE

Top gainers on the BSE at this hour





Ajanta Pharma trades firm in a subdued market as board mulls share buyback

“The company has now informed BSE that at the aforesaid board meeting, the board of directors will also consider a proposal for buy-back of the equity shares of the company,” Ajanta Pharma said in regulatory filing on Wednesday after market hours. READ MORE

Sept Quarter Result | Strides Pharma reports net profit of Rs 80 cr vs Rs 150 cr YoY

>> Consolidated revenue improves to Rs 790 cr vs Rs 720 cr YoY

>> EBITDA at Rs 165 cr


Recovery from intra-day lows in today's session

COMPANY DAY'S LOW(RS) DAY'S HIGH(RS) LATEST(RS) RISE(%)
ADANI GREEN 750.00 815.50 815.50 8.73
QUESS CORP 371.00 402.90 400.55 7.96
FUTURE RETAIL 66.50 72.20 71.50 7.52
THYROCARE TECH. 1071.20 1174.50 1148.30 7.20
Click here for the full list

Result Today :: Here's what brokerages expect from TVS Motors' Q2FY21 numbers

According to Prabhudas Lilladher, with volumes declining around 2 per cent YoY (up 225 per cent QoQ) coupled with growth in expected realization by around 11 per cent YoY, TVS Motors' Q2FY21 revenue is likely to grow 8.7 per cent YoY to Rs 4,724.6 crore. The bottom line is seen growing 19.5 per cent YoY to Rs 213.9 crore. READ MORE

BROKERAGE VIEW | Edelweiss Securities on Marico

RATING: HOLD | TARGET PRICE: Rs 383 

We expect recovery to be gradual following management interventions. Competitive intensity in the hair oil category, which is susceptible to down trading, also needs to be monitored. Considering the strong recovery, we revise up TP to Rs 383 (earlier Rs 365) and maintain ‘HOLD/SP’. At CMP, the stock is trading at 37.8x FY22E EPS.

FIs to turn discriminatory in 2021 while investing in Emerging Mkts: Nomura

Foreign investors are likely to turn discriminatory in 2021 as they pick and choose their investment options across emerging markets (EMs), says Rob Subbaraman, managing director, chief economist and head of global markets research (Asia ex-Japan), Nomura in an October 28 co-authored note. "Looking into next year, one possible scenario is robust capital inflows return across EM, but we believe the more likely outcome is foreign investors turn more discriminatory in EM, demanding a higher risk premium on EMs that are deemed to face dangerously high debt levels and/or balance of payments vulnerability. More discriminatory capital flows can compound the disparities between strong and weak performing EM economies," Subbaraman said. READ MORE

MARKET UPDATE:: Sensex pares losses


Markets slip again on rising Covid cases; should you book profit for now?

S&P BSE SENSEX: The index is witnessing a selling pressure around 41,000 mark. This suggests minor profit booking that may spark a bigger sell-off only after an aggressive close below 39,400 mark. Till that happens, the volatility and profit booking may continue. The index may regain the faith of market participants if it defends 39,400 decisively and exhibits strong rebound above 40,200 levels. If it fails to do so, then the weakness may see a downside towards 38,000 mark. READ MORE 


Result Today :: Lower treasury gain, elevated credit cost may cap BoB's Q2 profit

MOFSL sees the bank's elevated credit cost and moderated NII to dent earnings during the quarter under review. The deposits are seen growing around 6.5 per cent year-on-year (YoY) to Rs 9.5 trillion from Rs 8.9 trillion reported in Q2FY20. Sequentially, loan book may grow marginally from Rs 9.3 trillion. Credit book, on the other hand, may grow around 9 per cent to Rs 7 trillion from Rs 6.3 trillion in Q2FY20 and Rs 6.8 trillion in Q1FY21. READ MORE

Withdrawals in global listed funds from Indian markets top $11 bn in CY20

The sharpest pull-out was from India-dedicated funds (both ETF and non-ETF) was at $8 billion, followed by global emerging market (GEM) funds at $2.8 billion. The trend was largely similar in September, with India-dedicated funds pulling out $689 million and GEM funds $184 billion. READ MORE

Titan Company: Recovery in jewellery biz restricts hit to Q2 performance

Led by significant recovery in its jewellery division, Titan Company was able to restrict the hit to revenues and operating performance in the September quarter (Q2). After a 74 per cent year-on-year decline in Q1, sales declined 11 per cent in core operations in Q2 aided by the unlocking of the country, higher walk-ins, and conversions. READ MORE

Navin Fluorine gains 6%, nears record high on healthy Q2 results

Shares of Navin Fluorine International were up 6 per cent at Rs 2,246 on the BSE on Thursday in an otherwise weak market after reporting a healthy 43 per cent year-on-year (YoY) growth in net profit at Rs 67.8 crore in September quarter (Q2FY21), on the back of strong operational performance. The stock was trading close to its record high level of Rs 2,248.50, touched on September 16, 2020. READ MORE

PM assures vaccination for all, says India on its way to economic recovery

Talking about the economy he said that India is on its way to economic recovery as farmers have broken all records of production along with record-high FDI inflows followed by auto and tractor sales that are either reaching or surpassing previous year levels. READ MORE

Most active stocks by volume

COMPANY PRICE(rs) CHG(%)
VODAFONE IDEA 8.42 -3.00
SUZLON ENERGY 3.89 -4.89
FEDERAL BANK 50.75 -2.78
TATA MOTORS 131.35 -2.56
ST BK OF INDIA 188.60 -1.00
» More on Most Active Volume

Result Today :: IndiGo's Q2 loss up to Rs 1,610 crore seen despite cost cutting measures

Centrum Broking pegs EBITDAR loss at Rs 190 crore in Q2, compared with a loss of Rs 1,430 crore in Q1FY21. The brokerage estimates IndiGo's cash burn to have declined to nearly Rs 20 crore per day in Q2 from Rs 30 crore per day in Q1FY21. Overall, total net loss is seen at Rs 1,610 crore in Q2FY21. READ MORE


Orient Electric rallies 9% on strong September quarter results

Shares of Orient Electric rallied 9 per cent to Rs 221 on the BSE in the early morning deals on Thursday after the company reported a nearly seven-fold jump in its net profit at Rs 32.4 crore for the September quarter (Q2FY21), on the back of strong operational performance. The CK Birla Group company had posted a profit of Rs 4.8 crore in Q2FY20. It had posted a net loss of Rs 27.3 crore in the previous quarter (Q1FY21). However, revenue remained flat at Rs 434 crore during the quarter. READ MORE
.

Result Today :: Markets eye Voda Idea's fund raising plan, revenue guidance

According to Emkay, a low base of the last quarter along with moderation in subscriber loss shall lead to a marginal rise in Vodafone Idea's wireless revenues. Subscriber loss is expected to narrow, meaningfully, at 30 lakh vs the quarterly average of 1 crore in the last four quarters. Accompanied by the dip in Q1 and a 40 lakh increase in data subscribers in Q2, average revenue per user (ARPU) is projected to rise 4 per cent. READ MORE

NEWS ALERT :: HAL, Tech Mahindra sign Rs 400 crore contract for ‘Project Parivartan'

>> Tech Mahindra will be responsible for the transformation and modernisation of the ERP System as an implementation and support partner enabling HAL to streamline and standardize its business processes across the organization.

Route Mobile rallies 25% in three days on robust September quarter results

Shares of recently listed Route Mobile surged 8 per cent to Rs 990, bouncing back 12 per cent from its early morning low of 884.5 per share, on the BSE on Thursday after the company's consolidated net profit more-than-doubled to Rs 32.7 crore in September quarter (Q2FY21) on the back of healthy income. The company had posted profit of Rs 13 crore in Q2FY20. READ MORE

Rupee Opening

>> Rupee hits lowest level since August 27, opens at 74.03 per US dollar vs Wednesday's close of 73.88/$

Larsen & Toubro dips 5% as investors book profit post Q2 results

Shares of Larsen & Toubro (L&T) slipped 5 per cent at Rs 936 on the BSE on Thursday as investors booked profit after the announcement of the company's September quarter results of FY21. Further, the company's board approved special dividend of Rs 18 per equity share i.e. 900 per cent on face value of Rs 2 each, for the financial year 2020-21. The company has fixed November 5, 2020 as the record date for the purpose of payment of dividend. READ MORE

Pidilite Ind up around 3%

>> The company announced that it has approved a definitive agreement with Huntsman Group (USA) for acquiring 100% stake in one of their subsidiaries in India namely, Huntsman Advanced Materials Solutions Private Limited (HAMSPL).

Sensex off lows


Here's what to expect from Maruti Suzuki's Q2 results today

Despite 16 per cent YoY volume growth, Nomura expects Maruti's Q2 revenue growth at a lower 11 per cent YoY at Rs 18,871.2 crore due to around 5 per cent QoQ decline in average realisations owing to weaker mix. The bottom line is expected to grow 11 per cent YoY to Rs 1,508.4 crore.  READ MORE

Bharti Airtel dips as it may refrain from 5G auctions


Wipro slips 0.5%


RBL Bank up 2.5% as RBI allows Maple Group to acquire up to 10% stake


Cipla dips over half a per cent


Hero MotoCorp down around 1%


Result Impact | Axis Bank mildly in the red


L&T slides 4% post Q2 nos


Sectoral trends at Open


Opening Bell


Sensex Heatmap :: Only 3 of the 30 constituents trade higher


Opening Bell


Top gainers and losers on the S&P BSE Sensex at Pre-open


Markets at Pre-open


Markets at Pre-open


Result Today

A total of 82 companies including Maruti Suzuki, BPCL, Bank of Baroda, Vodafone Idea, and InterGlobe Aviation, are scheduled to declare their quarterly earnings today.

Gold immune to US Prez election, stimulus package key trigger: Bhavik Patel

Gold needs to break $1,930 for upside momentum. Support comes around $1,890 and $1,880. Gold has ample support in area of 50000-50400 and resistance around 51200-51400. READ MORE

'11,500 to act as immediate support for Nifty'

As per weekly option data, huge call writing is witnessed on higher strikes ranging from 11,700 to 12,000 which shows Nifty is going to face resistance at 11800.The level of 11,500 will act as support as maximum put OI is placed here for monthly expiry. We can witness short-covering move along with addition of fresh position only if Nifty breaches level of 11,800. Therefore, traders should try to create long position keeping close eye on 11,600. READ MORE

Stocks in focus today

Earnings today: As many as 82 companies including Maruti Suzuki, BPCL, IndiGo, and Vodafone Idea are slated to announce quarterly results today
 
Blue Star: Air conditioning and commercial refrigeration maker Blue Star Ltd on Wednesday reported a consolidated net profit of Rs 15.32 crore for the second quarter ended September 2020. The company had posted a net profit of Rs 37.94 crore in the corresponding quarter of the previous financial year.
 
Pidilite Industries: The comoany on Thursday announced that it has approved a definitive agreement with Huntsman Group (USA) for acquiring 100% stake in one of their subsidiaries in India namely, Huntsman Advanced Materials Solutions Private Limited (HAMSPL). READ MORE 

Bulk deals on BSE as on Wednesday

Bulk deals on NSE as on Wednesday

NEWS ALERT :: Bank Of Japan maintains short-term interest rate target at -0.1%

>> 10-yr JGB yield target around 0%

FII/FPI & DII trading activity on NSE, BSE and MSEI


Dow Jones Futures climb over 200 pts


Rupee check

Source: Bloomberg


Oil prices steady after 5% decline on Wednesday


SGX Nifty update

>> At 8:34 am, the index was at 11,676 level, down 44 points or 0.37 per cent.
 

Asia's Covid control tempers global stock selloff

Source: Reuters


Wall Street sinks 3%, Dow at late July lows as pandemic surges

Source: Reuters


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