A host of factors such as auto sales numbers for September, CAMS and Chemcon listing, macroeconomic data, COVID-19 cases will keep the investors busy today
Market participants will focus on quarterly earnings for stock-specific action, newsflow related to COVID-19 and other global cues
Nifty futures were trading 116.20 points or 1.03 per cent higher at 11,360.50 on Singaporean Exchange, indicating a positive opening for BSE Sensex and Nifty 50 on Thursday. A host of factors such as auto sales numbers for September, new listing, macroeconomic data, COVID-19 cases will keep the investors busy today. Besides, markets will remain closed on Friday on account of Gandhi Jayanti. Global markets were also higher today. US stock indices gained in overnight trade with the Dow Jones Industrial Average rising 1.2 per cent, S&P 500 0.83 per cent and the Nasdaq Composite 0.74 per cent.
CAMS, Chemcon: Computer Age Management Services (CAMS) and Chemcon Speciality Chemicals are set to list on exchanges today. CAMS IPO was subscribed 47 times, while Chemcon Speciality Chemicals was subscribed 149 times on the final bidding day.
RIL: Silver Lake and its co-investors have brought in an additional Rs 1,875 crore investment to buy more stake in Mukesh Ambani’s Reliance Retail, taking their total investment into RIL’s retail unit to Rs 9,375 crore. In the early morning on Wednesday, Reliance Industries had announced a Rs 3,675 crore investment from General Atlantic.
PVR, INOX Leisure: Cinema and leisure stocks will remain in focus today after the central government permitted cinema halls, theatres and multiplexes to reopen with effect from October 15, 2020, with a 50 per cent capacity.
Indian Oil, ONGC: Oil and gas stocks such as Indian Oil Corporation Limited (IOCL), Oil and Natural Gas Corporation (ONGC) may trade under pressure in today’s trade after the government cut the price of domestic gas by a sharp 25.1% to $1.79 per million British thermal units (mmBtu). The new price will be effective for six months starting October 1.
SpiceJet, IndiGo: The Indian aviation regulator DGCA announced that the suspension of scheduled international passenger flights has been extended till October 31. However, international scheduled flights may be allowed on selected routes by the competent authority on a case-to-case basis. Airline stocks such as SpiceJet, InterGlobe Aviation, Jet Airways will trade actively today.
Dhanlaxmi Bank: After Lakshmi Vilas Bank, Dhanlaxmi Bank plunged into a crisis on Wednesday after shareholders voted against the appointment of Sunil Gurbaxani as MD and CEO of the lender. More than 90% of the shareholders voted against the appointment of the CEO who had been appointed in February following approval from the Reserve Bank of India (RBI).
Bharti Airtel: Bharti Airtel has announced the launch of Airtel Secure, a suite of cybersecurity solutions for business customers. Along with this, the telco has also announced the opening of a new security intelligence centre in NCR, at a cost of Rs 100 crore, with full ownership.