The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India against October 14 close of 18,355.
The BSE Sensex rallied 568.90 points or 0.94 percent to close at 61,305.95 for first time, while the Nifty50 jumped 176.70 points or 0.97 percent to end at record closing high of 18,338.50 and formed bullish candle on the daily charts as the closing was higher than opening levels. The index also had a bullish candle formation on the weekly scale as it gained 2.5 percent during the week.
US stocks rose on Friday and the Dow scored its biggest weekly percentage gain since June, as Goldman Sachs rounded out a week of strong quarterly earnings for the big banks. Goldman Sachs Group shares jumped 3.8% and gave the Dow its biggest boost, as a record wave of dealmaking activity drove a surge in the bank’s quarterly profit.
The Dow Jones Industrial Average rose 382.2 points, or 1.09%, to 35,294.76, the S&P 500 gained 33.11 points, or 0.75%, to 4,471.37 and the Nasdaq Composite added 73.91 points, or 0.5%, to 14,897.34.
Asian Markets
Asian shares were on edge on Monday morning ahead of the release of Chinese economic data for the third quarter, as investors fret about the health of the world’s second-largest economy even as U.S companies report strong quarterly earnings.
MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trading on Monday, off 0.07%, while Japan’s Nikkei lost 0.12%. U.S. stock futures, the S&P 500 e-minis, were down 0.13%.
SGX Nifty
Trends on SGX Nifty indicate a positive opening for the index in India against October 14 close of 18,355. The Nifty futures were trading at 18,434 on the Singaporean Exchange around 07:30 hours IST.
Oil prices climb to highest in years
Oil prices hit their highest in years on Monday as demand continues its recovery from the COVID-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to fuel oil and diesel.
Brent crude oil futures rose 87 cents, or 1%, to $85.73 a barrel by 0111 GMT, the highest price since October 2018.
Gold imports jump multi-fold to $24 billion in April-September
Gold imports, which have a bearing on the current account deficit, zoomed to about USD 24 billion during April-September 2021 due to higher demand in the country, according to data from the Commerce Ministry.
Imports of the yellow metal were USD 6.8 billion in the corresponding period last year, the data showed. Gold imports during September this year too rose to USD 5.11 billion as against USD 601.4 million in the same month last year.
Forex reserves rise by $2.039 billion to $639.516 billion
The country’s foreign exchange reserves rose by USD 2.039 billion to USD 639.516 billion in the week ended October 8, according to RBI data. In the previous week ended October 1, the reserves had dipped by USD 1.169 billion to USD 637.477 billion. The reserves had surged by USD 8.895 billion to a life time high of USD 642.453 billion in the week ended September 3.
During the reporting week ended October 8, the rise in the reserves was on account of an increase in the Foreign Currency Assets (FCAs), Reserve Bank of India’s (RBI) weekly data released on Friday showed.
PE Investment in real estate jumps 24% annually in July-September at Rs 3,500 crore: Report
Private equity investment in real estate rose 24 per cent year-on-year to USD 477 million (about Rs 3,500 crore) during the July-September 2021 period but fell 45 per cent as compared with the previous quarter, according to Savills India.
PE inflows in real estate had stood at USD 385 million in the year-ago period and around USD 900 million in the previous quarter. In its latest report ’India Investment Market Watch’, Savills India attributed the temporary slowdown in investment activity to delayed decision-making by investors in the face of the COVID-19 pandemic.
Results today
UltraTech Cement, Larsen & Toubro Infotech, Route Mobile, Alok Industries, Concord Drugs, Craftsman Automation, Gujarat Hotels, Hathway Bhawani Cabletel & Datacom, Hatsun Agro Product, International Travel House, Lloyds Steels Industries, Navigant Corporate Advisors, Sunedison Infrastructure, SVP Global Ventures, Tanfac Industries, Tata Coffee, and Uniply Decor among others.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 1,681.60 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 1,750.59 crore in the Indian equity market on October 14, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Six stocks - Bank of Baroda, BHEL, Indiabulls Housing Finance, Vodafone Idea, IRCTC, and Sun TV Network - are under the F&O ban for October 18. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
According to pivot charts, the key support levels for the Nifty are placed at 18,274.6, followed by 18,210.6. If the index moves up, the key resistance levels to watch out for are 18,376.7 and 18,414.8.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
0 Comments