20th October Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed negative at the end of the day. BSE Sensex was down by 49.54 points to 61716.05 and Nifty was down by 58.30 points to 18418.75

Tech Mahindra, L&T, Infosys were the top gainers

Moody's upgrades outlook on Indian banking from negative to stable

ICICI Bank, State Bank of India, and Housing Development Finance Corporation (HDFC) are some of the stocks that may benefit from the expected economic growth cycle in India

Sales at large fast-moving consumer goods (FMCG) companies such as Hindustan Unilever, Nestle India, Marico, Tata Consumer, Dabur, and Godrej Consumer are expected to have risen at a double-digit pace in the September quarter due to recoveries in key segments like packaged foods and personal care as well as higher rural demand. But profit margins are expected to shrink by as much as 100 basis points owing to spiralling commodity costs.

Bharti Airtel exec says launching end-to-end platform for streaming video businesses

Several rich Indians who moved family trusts and holding entities to Dubai and Abu Dhabi amid the Covid-19 pandemic are now reaching out to their advisers fearing additional taxes, following the new global tax deal of the Organisation for Economic Co-operation and Development (OECD) and UAE's plans to introduce more

Nestle India Q3 net up 5% to Rs.617 cr; net sales up 9.63% to Rs.3,865 cr

HUL Q2 Results: Net profit rises 9% YoY, misses estimate, The company’s board also approved an interim dividend of Rs.15 per share following its board meeting today.

ICICI Securities Q2 PAT up 26% to Rs.351 crore

U.S. Building Permits Data at 1.589M vs Expected 1.680M

Today Results:

Jubilant food works, Tata Communications

Open Interest:

On open interest, Maximum put open interest was seen at 18500 followed by 18000. Maximum call open interest was seen at 18500 followed by 19000

Put Writing seen at 18400 followed by 18300

Call Writing seen at 18600 followed by 18400

India VIX up by 1.15% from 17.18 to 17.38 level.

Spike in volatility suggests a volatile move could be seen but the main reason for the spike in volatility was Call unwinding pressure in the market

Vix has to cool down below 15-14 levels to ensure a smooth ride for the market.

Participant wise open interest data of FII Shows put selling in the index is more than call selling. FII's were 69.17 % long in index future was increased compared to the previous day.

In Cash Market, FII's are net sellers 505.79 crores, and DII's are net sellers 2578.22 crores.

Options data suggests a trading range between 18300 to 18700.

Global Markets:

U.S Markets were closed positive at the end of the Day 

Dow Jones industrial average was up by 198.70 points or 0.56% to 35457.31 

S&P 500 Index was up by 33.17 points or 0.74% to 4519.63 

Nasdaq Composite was up by 107.28 points or 0.71% to 15129.09

European markets were mixed at the end of the day

Asian markets are trading mixed right now 07.30 IST

SGX Nifty trading 24.50 points higher to 18451 07.30 IST

SGX Nifty indicates a positive opening for Indian markets.

Keep an eye on these Economic Data:

U.K. Consumer Price Index (CPI) YoY Data at 11.30 IST

Eurozone Consumer Price Index (CPI) YoY at 14.30 IST