Not the best start to the week. The Indian markets kickstarted the week on a weak note after three weeks of gains. The Nifty 50 declined 368 points or 1.41% to close at 25,811, near its day’s low of 25,794. Similarly, the Sensex tanked 1,270 or 1.49% to close trading at 84,299.78, near the day’s low of 84,257.14. The heavyweights like Reliance Industries, HDFC Bank, ICICI Bank, and Infosys saw deep cuts but metal stocks bucked the trend and clocked smart gains. 

“Nifty’s three-week upward streak had pushed the index into overbought territory, leading participants to trim their positions amid mixed global signals. The broad-based decline in heavyweight stocks put the bulls on the back foot, potentially paving the way for some consolidation. The next crucial support for Nifty is around the 25,560 level, near the short-term moving average i.e. 20 DEMA. If a rebound occurs, the 26,000-26,250 zone could pose resistance. Traders are advised to adopt a stock-specific strategy and maintain positions on both sides of the market,” said Ajit Mishra, Senior Vice President of Research at Religare Broking

So what’s the expectation for Tuesday as a fresh new month starts- Here is a quick lowdown on everything to watch out for on October 1 

Here is what investors would watch out for in trade on October 1

STT on F&O

The STT on futures and options (F&O) trades has been increased to 0.02% from 0.1%. Effective October 1, as many as nine regulatory and tax changes will come into effect for the equities market.

Current Account Deficit Rises in Q1

India’s current account deficit (CAD) widened marginally to $9.7 billion or 1.1% of the gross domestic product (GDP) in April-June this year (Q1FY25) from $8.9 billion (1%) in the year-ago period (Q1FY24), and a surplus of $4.6 billion (0.5%) in the previous quarter (Q4FY24), the Reserve Bank of India said on Monday.

IPO Watch 

Diffusion Engineers’ share allotment will be finalised on October 01. The share allotment status can be checked on the website of the registrar of the issue, Bigshare Services India. The issue opened on September 26 to collect a sum of Rs 158 crore through a sale of 9.4 million fresh shares. The IPO was closed on September 30.

Stocks in focus 

Greenlam Industries 

Greenlam Industries said that it has redeemed/ cancelled 290 non-convertible debentures (‘NCDs’) having a face value of Rs 10 lakh each on September 30. These were purchased/repurchased by the company on September 23, 2024, in accordance with the terms of the issue of the said NCDs. 

Shapoorji Pallonji Group

Shapoorji Pallonji (SP) Group has secured lenders’ approval to cancel Rs 1,800 crore interest payment due on September 30 regarding its Rs 14,300 crore non-convertible debentures (NCDs), which it sold last year to December 31, reported Moneycontrol citing sources. The approval from lenders was received last week.

BEL

Bharat Electronics Limited has signed a Memorandum of Understanding with the Space Applications Centre (SAC), ISRO to collaborate, indigenise and develop infrastructure for manufacturing space-grade Travelling Wave Tube Amplifiers (TWTAs) in India.