Stock Market : Trade Setup for Wednesday (Oct 14, 2020)

Top 12 things to know before Opening Bell

Americas Indices

Europe Indices

Asian Indices

• U.S. stocks ended lower Tuesday, pressured by a string of mixed earnings reports from companies ranging from airlines to banks.
• European stocks drifted down to a weak close on Tuesday as worries about growth amid continued surge in coronavirus cases in several parts across the continent.

Indian Indices

• Sensex & Nifty close flat but in the green for 9th consecutive day.
• Nifty ends 3 points higher at 11,935 & Sensex 32 points higher at 40,626.
• Broader markets underperformed benchmarks with the Nifty Midcap and Nifty Smallcap indices down 0.5% and 0.2%, respectively.

Indian Sector View

• Among sectoral indices, pharma and banking index ended over 1 percent lower while Nifty IT remained the only one to trade over a percent.
• Losses in bank, financials and pharma sectors were capped by gains in IT stocks.

ADR’s and FII/DII data

ADR

Cash FII/DII

Futures and Options FII/DII (index)

Futures and Options FII/DII (stocks)

RIL plans to foray into smart meter business using Jio infrastructure

Reliance India Limited is reportedly planning to foray into the smart electricity meter market. The company plans to take advantage of its telecom arm Jio’s expertise to offer meter data collection, communication cards, telecom, and cloud hosting services to discoms.

As per the report, RIL is planning to offer these services through Narrow Band-Internet of Thing (NB-IoT).

Wipro resumes guidance, approves ₹9,500 crore share buyback

Wipro expects a sequential revenue growth of 1.5–3.5% in the range of $2.02 billion to $2.06 billion from its IT services business for the third quarter-ended December.

Wipro’s board on Tuesday approved a proposal to buy back up 23.75 crore equity shares or 4.16% of the total paid up equity at ₹400 apiece for an aggregate amount up to ₹9,500 crore.

TCS recognized as Leader in Customer Experience Services in Telecom and Media

Tata Consultancy Services has been recognized as a Leader in the NelsonHall NEAT for Customer Experience (CX) Services in Telecom and Media.

According to the report, TCS has mature design and consulting CX transformation offerings and experience in the telecom sector.

Tata Consultancy Services Ltd ended at Rs2,825.65 down by Rs5.55 or 0.2% from its previous closing of Rs2,831.20 on the BSE.

Vivo partners IDFC First, Bajaj Finance to waive dealer charges for installment schemes

Vivo India on Tuesday said it has partnered IDFC First and Bajaj Finance to waive dealer charges paid by retailers for selling devices under installment schemes.

Vivo India Director for Brand Strategy said the company has completed six years in India and acquired around 7 crore customers in the country.

Top Gainers and Losers

Gainers :

Losers:

Vedanta likely to repay $2.5 billion with interest after delisting bid fails

Billionaire Anil Agarwal’s commodities group is likely to repay $2.5 billion in funds it had raised for the effort.

Vedanta will pay back $1.4 billion it raised via bonds, and $1.1 billion in bank loans as early as the week ending October 18.

Vedanta fell short of the 1.34 billion public shares it needed to proceed for delisting on October 9. The group had offered 1.25 billion shares, which was less than the minimum number required for the delisting offer to be successful.

Apple announces new iPhone 12 family with 5G and MagSafe

Today, Apple announced the iPhone 12, iPhone 12 Mini, iPhone 12 Pro, and iPhone 12 Pro Max, all with 5G wireless capability.

5G connectivity is a headline addition to the new iPhones. 5G has been hyped up by the carriers as the next big thing in smartphones.

One surprise is the resurrection of the MagSafe brand.

Wall Street retreats after four-day winning streak as J&J vaccine worries weigh

Wall Street’s main indexes fell on Tuesday as a pause in Johnson & Johnson’s COVID-19 vaccine trials spurred concerns about a full economic rebound from the coronavirus-led downturn.

Johnson & Johnson raised its annual profit forecast, but its shares dropped 1.2 percent as it suspended clinical trials following an unexplained illness in a study participant