On October 03, Indian equity markets tumbled owing to geopolitical tension arising out of the West Asia region. This led to a spike in oil prices, spilling the effect on tyre and paint stocks. However, the question arises will markets bounce back or follow the downtrend? Here are the top cues to watch for October 04’s trading session: 

BSE to Discontinue Bankex

The weekly index derivatives contracts on SENSEX 50 will be discontinued from Nov 14, and weekly index derivatives contracts on BANKEX will be discontinued from November 18, said BSE on October 03. 

Stocks to watch for October 4

Reliance Power

Reliance Power shares continued hitting the 5% upper circuit for the 11th consecutive session at Rs 53.65 apiece. This is the highest level of the stock since January 2018. The stock opened Thursday’s session at a price of Rs 52.09 and then got locked in the upper circuit for most of the day.

Apollo Hospitals 

Apollo Hospitals is likely to sell a stake in Apollo Health & Lifestyle, reported Moneycontrol citing sources. The stake sale would also facilitate an exit for International Finance Corp (IFC), the World Bank’s private investment arm, after an eight-year investment in Apollo Hospitals.

National Stock Exchange

Despite the recent announcement to implement six safety measures in a phased manner to protect the investors in the Futures and Options (F&O) trade by SEBI, Ashish Chauhan, Managing Director and Chief Executive Officer, NSE, said that the stock exchange is yet to take a call on a single weekly index.

InterGlobe Aviation

IndiGo is set to launch flights between Bhopal and Pune in order to enhance connectivity between these two major cities from October 27, 2024. This service aims to facilitate tourism and bolster business connections between the two dynamic cities. 

Ashok Leyland

Ashok Leyland has signed a multipronged partnership agreement with Japan-based global electric motor drives manufacturer Nidec Motor Corporation, a subsidiary of Nidec Corporation. This partnership will enable both Ashok Leyland and Nidec to develop novel e-drive motors and systems that cater to the specific needs of India’s commercial vehicle industry, ensuring advanced and efficient electric mobility solutions.

Markets Recap 

The Nifty 50 declined 547 points or 2.12% to close the session at 25,250 while the Sensex tanked 1,769 points or 2.10% to end the day at 82,497. The Bank Nifty closed 1,077 points or 2.04% lower at 51,845. The Nifty Midcap 100 lost 1,333 points or 2.21% closing the day at 59,025.