Stock Market: Trade Setup for Wednesday (Oct 21, 2020)
Top 10 things to know before Opening Bell
Global Indices
America’s Indices
Europe Indices
Asian Indices
- The S&P 500 added 0.47%, taking back some of its losses from earlier in the week. The Dow Jones Industrial Average, meanwhile, gained 113.37 points, or 0.4%. The tech-heavy Nasdaq Composite Index advanced 0.33%.
- European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.08%, while Germany’s DAX was off 0.92%. Shares in France were unchanged with the CAC 40 at 4,929.28.
- Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.47% and the Hang Seng rose 0.11%. The Nikkei 225 lost 0.44%.
Indian Indices
- Market gains for 3rd straight session.
- The Sensex ended 113 points higher at 40,544 while the Nifty rose 24 points to settle at 11,897.
Indian Sector View
- Nifty Realty surged over 4% and Nifty IT added 1.4%. Nifty Bank, Nifty Auto and Nifty Pharma also ended the day in the green.
- Nifty Energy lost over 1% and Nifty FMCG shed 0.3% for the day. The Metal and PSU Bank indices were also 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
Wall Street shares close higher on stimulus hopes
Shares on Wall Street ended higher on Tuesday on growing optimism that talks among U.S. lawmakers are progressing with respect to a U.S. stimulus package aimed at cushioning the economic shock from the coronavirus pandemic.
Uncertainty over the coronavirus aid package weighed on Wall Street’s main indexes on Monday and analysts expect market turbulence to increase with only two weeks left until Election Day.
Reliance Jio Details 5G Plans at Qualcomm Event
Reliance Jio has detailed its 5G plans which will be supported by Qualcomm, the company’s president revealed while speaking at the Qualcomm 5G Summit.
Jio and Qualcomm will develop a full suite of 5G tools and products. It will develop Open RAN technologies to delivery the 5G platform.
Stock Market Highlights
Verdict on Amazon arbitration plea over Future-RIL deal expected in a few days
A hearing of the arbitration took place at the Singapore on October 16 after Amazon had slapped a legal notice on Future Group, alleging that the retailer’s ₹24,713 crore asset sale to Reliance Industries (RIL) violated an agreement with the e-commerce giant.
An outcome in this matter would decided the fate of the Future-Reliance deal announced on August 29, 2020 in which Future Group had announced sale of its retail, wholesale and logistics etc. to Reliance Retail Ventures Ltd.
Wipro wins five-year contract with Europe’s third-largest producer of clean electricity
Indian IT services giant Wipro has won a five-year contract with Europe’s third-largest producer of carbon dioxide-free electricity, Fortum.
Wipro will be helping Fortum with their application management system as well as services integration and management.
The new deal meets at least two of CEO Thierry Delaporte’s five priorities for Wipro going forward.
Britannia declines 5% as Q2 revenue slightly misses analysts’ expectations
Shares of Britannia Industries slipped as much as 5% to Rs 3,585 apiece on the BSE on Tuesday, a day after the company reported a 22.96% increase in consolidated net profit at Rs 495.20 crore for the quarter ended September.
Total revenue from operations climbed 12.15% to Rs 3,419.11 crore during the quarter under review as against Rs 3,048.44 crore in the year-ago period.
