Stock Market: Trade Setup for Tuesday (Oct 27, 2020)
Top 11 things to know before Opening Bell
Global Indices
America’s Indices
Europe Indices
Asian Indices
- The Dow Jones industrial average fell 650 points to 27,686. The S&P 500 index tumbled nearly 1.9 percent to 3,401, while the tech-heavy Nasdaq composite index dropped 1.6 percent, to 11,359.
- European markets finished mixed as of the most recent closing prices. The CAC 40 gained 1.20%, while the DAX led the FTSE 100 lower. They fell 3.71% and 1.16% respectively.
- Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.54%, while the Shanghai Composite led the Nikkei 225 lower. They fell 0.82% and 0.09% respectively.
Indian Indices
- Indian shares ended over 1 percent lower on Monday with selling witnessed across all sectors.
- The Sensex ended 540 points lower at 40,145 while the Nifty lost 163 points to settle at 11,768.
Indian Sector View
- All sectors ended in the red. Nifty Metal and Nifty Auto fell the most around 3.5 percent each while Nifty Bank shed 1.5 percent and Nifty IT shed 1.2 percent.
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
Dow plunges 650 points as coronavirus cases flare up, stimulus hopes fade
U.S. markets slumped Monday as investors grappled with uncertainty about economic stimulus negotiations and soaring coronavirus cases around the country.
The Dow Jones industrial average fell 650 points, or 2.3 percent, to 27,686. The S&P 500 index tumbled nearly 1.9 percent to 3,401, while the tech-heavy Nasdaq composite index dropped 1.6 percent, to 11,359. The sell-off erased all of the blue-chip index’s gains for October.
SBI raises Rs 5,000 crore by issuing Basel-III compliant bonds
SBI on October 26 said it has raised Rs 5,000 crore by issuing Basel-III compliant bonds. The interest on the bonds will be paid annually for a tenor of 10 years and call option after 5 years and on anniversary date thereafter.
The committee of directors of capital raising met on Monday and accorded its approval to allot 50,000 Basel-III compliant non-convertible, taxable debt instruments, SBI said in a regulatory filing.
Stock Market Highlights
Kotak Mahindra Bank Q2 profit jumps 27% to Rs 2,184 crore as provisions dip
Kotak Mahindra Bank reported profit at Rs 2,184.5 crore in September ended quarter, registering a 26.7 percent growth year-on-year, aided by lower provisions.
Rise in pre-provision operating profit, NII and other income also boosted profitability. Net interest income increased 16.8% to Rs 3,913.2 crore in July-September quarter 2020 compared to corresponding period previous fiscal.
Provisions and contingencies fell 9.6 percent to Rs 368.59 crore compared to year-ago period, while the sequential fall was 61.7 percent.
TCS partners with Australia’s first neobank, Volt
Tata Consultancy Services announced that Volt, Australia’s first neobank, has partnered with TCS to power Volt 2.0, its next-generation Banking as a Service (BaaS) platform.
Set to launch in 2021, Volt 2.0 will leverage TCS BaNCS, a global payments solution, to expand the bank’s offerings to include NPP, BPAY and DE, enabling full-service banking capabilities for all its customers.
Larsen & Toubro gains 2% as board to consider special dividend on Wednesday
Shares of Larsen & Toubro (L&T) gained 2 per cent at Rs 957 on the BSE on Monday, after the engineering conglomerate said its board will consider special dividend on Wednesday.
The stock was quoting higher for the seventh straight day, and has gained 8 per cent during the period.
Vedanta gains after board approves interim dividend
Vedanta rose 1.10% to Rs 105.95 after the company’s board approved an interim dividend of Rs 9.50 per equity share for the financial year 2020–21 amounting to Rs 3,500 crore.
On a consolidated basis, Vedanta’s net profit declined 21.7% to Rs 1,522 crore on 25.9% decrease in net sales to Rs 15,687 crore in Q1 June 2020 over Q1 June 2019.
