The key Indian equity benchmarks have advanced in early morning trade, spurred by a firm trend across Asian markets and overnight rally in the US markets.
The positive undertone has been underpinned by an unconfirmed report by a British newspaper that Germany and France have agreed to boost the eurozone bailout fund. another report has cited officials as saying that the UK paper's report is untrue.
DLF, SBI, L&T, HDFC Bank, BHEL, ICICI Bank, Tata Steel, Wipro, ONGC, RPower, Maruti, Hero MotoCorp,Tata Motors, HCL Tech, Axis Bank, were among the notable leaders in the Sensex and the Nifty.
All sectoral indices on the BSE are in the positive terrain.
Auto, Realty, Metals, Banking, Consumer Durables and Capital Goods indices are among the top winners so far on the BSE. The FMCG index on the BSE is subdued.
The India VIX on the NSE is down by over 6% at 24.25 after being as low as 24.16. Its previous close was 25.90. In contrast, the CBOEX VIX in the US climbed overnight.
Hindustan Unilever, Bharti Airtel, Tata Power, Siemens, BPCL were among the notable losers in the Sensex and the Nifty.
US stocks climbed amid reports that Germany and France have agreed to shore up the eurozone bailout fund. But, another report has denied the same stating that the debate on the size of the EFSF may continue for a while. Consensus view is unlikely anyways.
Asian markets are holding firm. European indices finished mixed following the fresh downgrade of Spain and a Moody's warning to France over its "AAA" rating outlook.
Bank, Crompton Greaves, Dish TV and Hindustan Zinc will be in focus before their earnings. Hero MotoCorp will also be in the spotlight after its Q2 results.
Results Today:
HDFC Bank, Crompton Greaves, Mastek, Indraprastha Gas, Hindustan Zinc, Biocon, Dish TV, Bajaj Finance, Bajaj Finserv, Alembic, JB chemicals, Rallis India, Zee Learn, Zee News, WWIL, Torrent Power, Navin Flourine, Everest Industries, Manali Petro, Shree Precoated Steels, Ajmera Realty, Kirloskar Industries, Camlin, NRC, Madras Fertilizers, Raymond, Infotech Enterprise, Tata Investment Corp, Nippo Batteries, Excel Industries, RPG Lifesciences, Dolphin Offshore, Supreme Petrochem, Essar Ports, Eclerx, Hinduja Ventures, JSW Ispat
Stock In NEWS
- GVK Power arm ups stake in MIAL to 50.5%
- SEBI may settle insider trading charges against RIL , by asking the co to pay up to Rs 2052 cr (Mint)
- RIL to bid for EL Paso shale assets in USA (TOI)
- GMR , Lanco power plants face cut in D6 Gas supply; govt to take action as GMR’s Tanir Bavi & Lanco’s Kondapalli unit sell power at market rates (ET)
- Glencore looks to buy 24% in Cronimet Alloys for around Rs 50-75 crore (CMP Rs 138.60, M-cap Rs 170 cr)
- Coromandel International board approves issue of bonus debentures in the ratio of 1 debenture of Rs 15/- for every equity share held
- 3I infotech board meet on October 21 to consider rights issue of shares
Source:- Moneycontrol
Asian Markets
Today, the Asian indices are trading mixed with Hang Seng and Nikkei trading higher by 0.9% and 0.6% respectively. Shanghai is down 0.3% while Kospi and Taiwan are down 0.1% respectively. Strait Times is up by 0.3%.Commodities
Oil for November delivery rose $1.96 to settle at $88.34 a barrel.
Gold futures for December delivery fell $23.80 to settle at $1,652.80 an ounce.
Key Indices
SENSEX 16945.72 197.43 (1.18%)
NIFTY 5098.70 61.20 (1.21%)
CNX Midcap 7126.35 78.70 (1.12%)
Outlook for Today
Today, we expect the Indian Markets to open on a positive note following strong global cues. Later, it could take cues from the European markets. Among the sectors, Banking stocks could underperform while Capital Goods, Metals and Oil & Gas look weak.
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