Stock Market: Trade Setup for Friday (Oct 30, 2020)
Top 10 things to know before Opening Bell
Global Indices
America’s Indices
Europe Indices
Asian Indices
- The Dow Jones Industrial Average closed up 139 points, or 0.5%. The S&P 500 rose 1.2% and the Nasdaq Composite gained 1.6%.
- European markets finished mixed as of the most recent closing prices. The DAX gained 0.32%, while the CAC 40 led the FTSE 100 lower. FTSE 100 fell 0.02%.
- Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.11%, while the Hang Seng led the Nikkei 225 lower. They fell 0.41% and 0.37% respectively.
Indian Indices
- The Indian stock market ended lower for the day but gained in the October expiry series.
- The Sensex ended 173 points to 39,749.85 while the Nifty50 index ended at 11,670.80, down 59 points.
Indian Sector View
- Except IT and energy, all other sectoral indices ended lower led by FMCG, pharma, metal and auto.
Top Gainers and Losers
Gainers
Losers
ADR’s and FII/DII data
ADR
Cash FII/DII
Futures and Options FII/DII (index)
Futures and Options FII/DII (stocks)
Ahead of Market
Stocks Finish Higher Ahead of Earnings From U.S. Tech Giants
U.S. stocks bounced back a day after their biggest rout in four months, with investors encouraged by better-than-forecast economic data even as they kept a wary eye on growing coronavirus infections.
The rebound came after the S&P 500’s 3.5% drop in the previous session, the biggest loss since June 11. And investors are awaiting earnings reports from some of the largest U.S. tech companies.
The U.S. economy grew the most on record during the third quarter as trillions of dollars of coronavirus relief from Congress and the Federal Reserve supported household and business spending.
Vodafone Idea Q2 revenue declines 0.5% as subscriber losses hurt
Indian telecom operator Vodafone Idea Ltd reported a 0.5% drop in second-quarter revenue on Thursday, as subscriber losses to rivals overshadowed benefits from a move to hike tariffs last year.
The company’s subscriber base slipped to 271.8 million subscribers as of September-end from 311.1 million subscribers a year ago, indicating a decline in market share for the joint venture between Vodafone Group and India’s Idea Cellular.
Stock Market Highlights
Maruti Suzuki share price slips 2% post Q2 numbers
Maruti Suzuki share price slipped over 2 percent intraday on October 29 after the company reported its Q2FY21 numbers.
Maruti Suzuki reported 1 percent year-on-year growth in Q2 FY21 standalone profit on October 29. However, a 16 percent volume growth pushed revenue by 10 percent higher on a year-on-year basis.
Standalone profit increased to Rs 1,371.6 crore in the quarter ended September 2020, against Rs 1,358.6 crore in the same period last year.
Bharat Petroleum Corporation Limited Q2 standalone net profit jumps 32% YoY
BPCL on October 29 posted a standalone net profit of Rs 2,247.75 crore for Q2 FY21, up from Rs 2,076.17 crore quarter-on-quarter (QoQ) and Rs 1,708.45 crore year-on-year (YoY).
The 31.57 percent YoY jump in net profit beat the street estimates. Standalone revenue for the said quarter stood at Rs 65,912.49 crore, up from Rs 50,616.92 crore QoQ but down from Rs 75,056.63 crore YoY.
TCS to divide cloud services into 5 strategic units
Tata Consultancy Services (TCS) is streamlining its Cloud services business into five strategic units — Amazon Web Services (AWS), Azure, Google, TCS’ own private cloud arm, and a cloud consulting arm, to push “exponential growth.”
In April 2019, TCS joined hands with Google to build industry — specific cloud solutions. These solutions will help organizations accelerate their digital transformation and leverage data-driven insights that power superior customer experiences.
