Stock Market: Trade Setup for Thursday (Oct 22, 2020)
Top 10 things to know before Opening Bell
Global Indices
America’s Indices
Europe Indices
Asian Indices
- The Dow Jones Industrial Average fell 0.4% to 28,210.82. The S&P 500 was 0.2% lower at 3,435.56, while the Nasdaq Composite fell 0.3% to 11,484.69.
- European markets finished sharply lower today with shares in London leading the region. The FTSE 100 is down 1.91% while France’s CAC 40 is off 1.53% and Germany’s DAX is lower by 1.41%.
- Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.75% and the Nikkei 225 rose 0.31%. The Shanghai Composite lost 0.09%.
Indian Indices
- Market closes higher for 4th straight session led by financials.
- The Sensex ended 162.94 points or 0.40% at 40,707.31 while the Nifty gained 40.85 points or 0.34% to settle at 11,937.65.
Indian Sector View
- Nifty Realty rallied the most over 4% followed by over 2% gains in Nifty Metal. Nifty Bank also surged over 1.3%.
- Nifty FMCG, Nifty IT, Nifty Auto and Nifty Media ended in the red.
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 slip on Wall Street as virus aid deal remains elusive
Stocks are closing lower on Wall Street as negotiations continue to drag on in Washington over delivering more aid for the economy.
The S&P 500 lost 0.2% Wednesday after spending much of the day wobbling between gains and losses.
House Speaker Nancy Pelosi said she’s made progress with the White House on more economic stimulus, and she hopes discussions will continue.
UltraTech Cement Q2 profit jumps 113% to Rs 1,235 crore
UltraTech Cement has reported a 113 percent YoY increase in Q2FY21 consolidated net profit largely due to the sale of its Chinese subsidiary.
Consolidated profit surged to Rs 1,235 crore in the quarter ended September 2020 from Rs 579 crore in the same period last year.
The company’s consolidated revenue grew by 7.7 percent year-on-year to Rs 10,354 crore with volume growth at 18 percent YoY for the September quarter 2020.
Stock Market Highlights
Bajaj Finance share price down 2% after Q2 profit dips 36%
Bajaj Finance share price was down over 2 percent intraday on October 21 after the company reported a 36 percent drop in profits for the September quarter.
The NBFC major’s profit dropped to Rs 965 crore from Rs 1,506 crore in the year-ago period due to elevated provisions.
Reliance Jio, Qualcomm successfully tests out 5G technology
Reliance Jio and Qualcomm have successfully tested 5G technology in India. Both companies in a statement said they have achieved speeds of a mammoth 1 Gbps on Jio’s 5G solution using Qualcomm’s platform.
This development puts India in a niche club of few countries that offer 1 Gbps speeds to 5G users.
TCS announces strategic partnership with University of Tokyo
Tata Consultancy Services and the University of Tokyo (UTokyo), announced a strategic partnership to conduct joint academic-industry research.
UTokyo and TCS aspire to realize their shared vision of applying design thinking and digital technologies to address real world business and societal challenges.
The strategic partnership aims to drive business innovation across four focus pillars i.e. Technological Collaboration, Talent Exchange, Innovation and Start-up Engagement.
