Stock Market: Trade Setup for Tuesday (Oct 20, 2020)

Top 11 things to know before Opening Bell

Global Indices

America’s Indices

Europe Indices

Asian Indices

• Major U.S. stock indexes opened higher on Monday but retreated over the day as a Democratic-imposed deadline for a deal approached with no clear signs of progress.
• European markets finished mixed as of the most recent closing prices. The CAC 40 gained 2.03%, while the FTSE 100 led the DAX lower. They fell 0.59% and 0.42% respectively.
• Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 1.11% and the Hang Seng rose 0.64%. The Shanghai Composite lost 0.71%.

Indian Indices

• Indian shares ended over a percent higher on Monday.
• The Sensex ended 449 points higher at 40,432 while the Nifty rose 110 points to settle at 11,873.

Indian Sector View

• Nifty Bank was the top performer, up 3% followed by Nifty Fin Services, up 2.5%. Nifty Metal and FMCG also rose 1.7% and 1.5%, respectively.
• Nifty Pharma lost 1.5% and the Auto and IT indices were also down for the day.

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 fall on Wall Street as hopes for new virus aid fade

Stocks closed lower on Wall Street as optimism fades that Washington will deliver more badly needed aid for the economy before the election next month. The benchmark S&P 500 index fell 1.6% after starting the day higher.

Investors remain focused on the potential for new stimulus measures for the economy, but hopes for agreeing on a new package before the Nov. 3 election are dimming.

BSE joins hands with Telangana govt to help MSMEs raise equity funds

BSE on Monday said it has joined hands with the Telangana government, along with GlobalLinker to help micro, small and medium enterprises (MSMEs) raise equity funds.

The partnership with the BSE would help in addressing a vital challenge of access to finance and increasing credibility of the MSMEs.

Britannia’s net profit jumps 23% to Rs 495.20 crore in Q2

As demand for packaged food continues to be strong, Britannia on Monday posted a healthy 23% increase in net profit for the quarter ended September 2020 at Rs 495.20 crore as compared to the corresponding quarter a year ago.

The company’s consolidated revenue rose 12% yoy to Rs 3,492.61 crore, slightly lower than the Street’s expectation of 14%. However an 82% increase in tax expenses impacted profitability.

Stock Market Highlights

Bharti Airtel hits seven-month low in a strong market

Shares of Bharti Airtel were under pressure on Monday, hitting a seven-month low of Rs 394 on the BSE, in an otherwise weak market. The stock of the telecom services provider slipped 2% in the intra-day trade and was trading at its lowest level since March 19, 2020.

In the past one month, the stock has slipped 20 per cent, as compared to 3.8 per cent rise in the S&P BSE Sensex.

The board is schedule to meet on October 27, 2020 to consider the audited financial results for the second quarter ended September 30, 2020

TCS share price falls nearly 2% on profit-booking

TCS share price fell nearly 2% to Rs 2,710.25 on BSE in Monday’s session. Earlier this month, TCS stock price scaled a fresh 52-week high of Rs 2,885 on BSE, since then the stock has fallen 6%.

The company reported a nearly 5% rise in consolidated net profit to Rs 8,433 crore in the July-September quarter.

HDFC Bank sees target price upgrades of 5–22% after strong Q2

HDFC Bank reported a strong set of numbers, which indicated that a bulk of the impact of COVID-19 on India’s premier bank, could be behind.

NII came in at Rs 15776 Cr vs Rs 15665 Cr QoQ & Rs 13515 YoY. PAT came in at Rs 7513 Cr vs Rs 6659 Cr QoQ & Rs 6345 Cr YoY. PAT was aided by sale of investments and other income which came in at Rs 6092 Cr vs Rs 4075 Cr.