Stock Market: Trade Setup for Wednesday (Oct 28, 2020)

Top 10 things to know before Opening Bell

Global Indices

America’s Indices

Europe Indices

Asian Indices

• U.S. stock indexes are mostly lower on Tuesday. S&P 500 was down 0.3% whereas NASDAQ was up by 0.64%.
• European markets finished broadly lower today with shares in France leading the region. The CAC 40 is down 1.90% while London’s FTSE 100 is off 1.09% and Germany’s DAX is lower by 0.93%.
• Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.10%, while the Hang Seng led the Nikkei 225 lower. They fell 0.54% and 0.04% respectively.

Indian Indices

• Indian indices ended nearly a percent higher on Tuesday and market regains most of it’s yesterday’s losses.
• Sensex ended 376 points higher at 40,522 while the Nifty rose 121 points to settle at 11,889.

Indian Sector View

• Sectors like banking & financials, automobile, FMCG and pharma stocks witnessed buying interest. Nifty Pharma added 1.5 percent and Nifty FMCG was up 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

S&P 500, Dow slip on worries about earnings, U.S. stimulus outlook

Stocks on Wall Street closed little changed on Tuesday, with the Dow and S&P 500 dipping on disappointing earnings and little hope for a U.S. coronavirus stimulus before Election Day, though the Nasdaq rose ahead of big technology company results.

Investor sentiment sagged after the White House said a deal on COVID-19 relief could come in “weeks,” meaning a deal is unlikely before the Nov. 3 election.

Bharti Airtel Q2 results: Loss narrows down to Rs 763 crore, revenue jumps 22%

Bharti Airtel said on Tuesday its consolidated net loss for the quarter ended September narrowed to Rs 763 crore from Rs 23,405 crore a year ago.

The telecom major’s revenue from operations rose 22 percent to Rs 25,785 crore from 21,131 crore a year ago.

The better revenue growth was driven by higher tariffs and a rise in data usage from a coronavirus-fueled shift to remote working.

Tata Motors Q2 loss at Rs 314.5 crore

Tata Motors posted a consolidated loss of Rs 314.5 crore in the quarter ended September 30. The company had reported a loss of Rs 216.56 crore in the September quarter of 2019.

The company’s consolidated revenue fell 18.2 percent year-on-year to Rs 53,530 crore in Q2FY21 due to decline in commercial vehicle and JLR volumes.

Stock Market Highlights

Future Retail sees liquidation if Reliance deal fails

India’s Future Retail Ltd (FRL) will go into liquidation if its deal to sell assets to Reliance Industries fails.

Amazon on Sunday won an injunction from a Singapore arbitrator to halt FRL’s deal to sell assets to Reliance.

Amazon alleged FRL had breached certain contract provisions it entered into last year in a separate deal with the U.S. firm.

Cement shares in demand as ACC hits fresh 52-week high and Shree Cement up 6%

Shares of cement manufacturers were in demand with most of the sector stocks trading higher in the range of 2 percent to 6 percent. Analysts expect the cement industry to witness positive growth in the second half (October-March) of the current fiscal.

ACC rallied 6 percent to hit a fresh 52-week high. Shree Cement surged 6 percent while others were up in the range of 2 percent to 4 percent on the BSE.