Indian stock markets are likely to open lower on Monday caution rises ahead of the major quarterly results in this week of companies, including blue-chips SBI, Tata Motors, BHEL, Cipla, CIL and NHPC. The early indicator of NSE Nifty — SGX Nifty Futures — was trading 0.51% down at 10,433 points on Singapore Stock Exchange. Meanwhile, foreign portfolio investors emerged as net buyers in the month of October, pumping in over Rs 3,000 crore in the equity markets after two months of sell-off.
Shares of Century Textiles & Industries, Fortis Malar Hospitals, GTPL Hathway, Gujarat Gas, Gulf Oil Lubricants India, Housing & Urban Development Corporation, Indian Bank, Jaiprakash Power Ventures, Just Dial, KEC International, Larsen & Toubro Infotech, NRB Bearing, Piramal Enterprises, Rural Electrification Corporation, Thomas Cook, Torrent Power, TRF, Triveni Turbine, Welspun Corp will be in watch ahead of Q2 earnings.
These stocks will be in focus today
RIL: Citing a likely negative free cash flow situation due to heavy debt repayments over the next 18 months, global ratings agency Moody’s has lowered the credit outlook on Reliance Industries to ‘stable’ from ‘positive’ but retained the Baa2 ratings its long-term debt. Reliance Industries has awarded a major contract for bringing to production the R-Series gas field in the flagging KG-D6 block to US engineering and construction company McDermott.
DLF: Fair trade regulator CCI has approved Singapore’s sovereign wealth fund GIC’s proposal to acquire 33 per cent stake in realty major DLF’s rental arm DCCDL for Rs 8,900 crore.
Motilal Oswal Financial Services: Motilal Oswal Financial Services has posted a 41.18 per cent jump in its consolidated net profit at Rs 144 crore for the September quarter, backed by strong growth across all businesses.
BSE: Bombay Stock Exchange reported a 4 per cent rise in net profits at Rs 66.83 crore, for the three months ended September 30, this fiscal.
ONGC & OIL: Nearly 25 years after ONGC’s prime discovered oilfields were privatised, the oil ministry has identified 11 more producing oil and gas fields of the state-run firm for handing over to private firms to raise output. The ministry is approaching the Cabinet to allow private companies take 60 per cent stake in producing oil and gas fields of national oil companies, ONGC and OIL, with the view that they would raise production above the baseline estimate, PTI reported.
Reliance Communications: Loss-making telecom operator Reliance Communications will shut down voice call service from December 1 and its customers can move to other networks by the end of the year, as per direction issued by telecom regulator Trai.
Union Bank of India: Union Bank of India reported a net loss of Rs 1,531 crore for the September quarter due to steep rise in bad loans and the state-run lender has made full provisions for the 11 accounts referred to NCLT in the period.
Indian Rupee On Friday: The rupee today ended at a fresh six-week high of 64.55 a dollar, gaining by 6 paise.
Indian markets on Friday
The benchmark Sensex index topped 33,700-mark for the first time ever on Friday supported by the upsurge in the banking and financial services stocks. Domestic markets are on a record-breaking streak since India grabbed the 100th spot in the World Bank’s “Ease of Doing Business” 2018 rankings. The upmove in the heavyweight shares such as HDFC, SBI, Axis Bank led the indices to break and make new record highs. BSE Sensex gained as much as 128.52 points to hit the lifetime high of 33,701.74 points. Sensex closed 112.34 points or 0.33% higher at 33,685.56 points while Nifty settled 28.7 points or 0.28% up at 10,452.5 points.
US markets on Friday
A surge in shares of heavyweight Apple helped push up major Wall Street indexes on Friday, as investors also assessed a mixed US labor market report, Reuters reported. The Dow Jones Industrial Average rose 22.93 points, or 0.1 percent, to 23,539.19, the S&P 500 gained 7.99 points, or 0.31 percent, to 2,587.84 and the Nasdaq Composite added 49.49 points, or 0.74 percent, to 6,764.44. Shares of Apple, the world’s most valuable publicly traded company, rose 2.6 percent as shoppers streamed into the company’s stores to buy its latest iPhone. Apple also gave a better-than-expected sales forecast for the holiday shopping season.