Indian Indices:
SGX Nifty indicating a positive opening for the Indian equities in line with its global peers. SGX Nifty indicating a positive opening for the Indian equities in line with its global peers.Equity benchmarks started off the week on a positive note Monday, with the Nifty reclaiming 10,150 level on short covering after over a percent loss seen in a previous week. The market opened after a long weekend.
The 30-share BSE Sensex was up 80.01 points at 32,469.97 and the 50-share NSE Nifty gained 30.30 points at 10,176.80.Hero Motocorp, Bharti Airtel, Dr. Reddy's Labs, Infosys, HUL, Cipla, TCS and Reliance Industries gained 1-2 percent. Bajaj Auto, Axis Bank, HDFC, Indiabulls Real, UPL, and HPCL were under pressure in early trade. Nifty Midcap was up 0.2 percent on positive market breadth. Bhushan Steel, Uttam Galva, Monnet Ispat, Visa Steel, 63 Moons, Dwarikesh Sugar, Puravankara Projects, Radico Khaitan and Gati rallied 2-10 percent. Sintex Industries, Canara Bank, Andhra Bank and Titan Company were down 1 percent.
Global Market:
• Asia Stock Japanese PM Shinzo Abe’s coalition secured a whopping a 2/3rd majority after winning 312 seats out of 465 at Sunday's election. Nikkei 225 surged ~1% on account of these developments and extended its winning streak for the second week in a row.
• US: Wall street hits a record high as the plan of biggest tax reform optimism weighed in. The Dow Jones Industrial Average rose 165.59 points or 0.79%, to end up at 23329 levels, while tech-heavy Nasdaq edged up 0.35 points to 6,629 levels.
• Europe closed modestly higher in its last trading session with FTSE up 0.19%, CAC up 0.08%, DAX up 0.01%
Major Headlines of the day:
• M&M
o Approves scheme of arrangement between Mahindra Two Wheelers & M&M.
o Mumbai Bench of NCLT sanctions scheme of amalgamation of Defence Land Systems India with Mahindra Defence System.
• Hindustan Unilever in focus: Parent Unilever reports results
o Commentary on India: Volume growth improved after GST implementation.
o CEO Paul Polman says starting to see signs of improvement in India and China.
o Alert: HUL Q2 Results on October 25, 2017.
• Dr. Reddy's Labs in focus
o US Court rules that patent for contraception device NuvaRing’s expiring on April 8, 2018, is valid.
o Assumption now is all generic filers including Dr Reddy's Labs can launch post-April 2018, subject to approval.
o Product worth is USD 780 million in branded sales.
Trend in FII flows: The FIIs were net buyers of Rs -43.74 the cash segment on Thursday while the DIIs were net sellers of Rs 40.78 as per the provisional figures.
UPCOMING RESULTS:- HAVELLS,IBULHSGFIN,HIND ZINC,ZUARI,
Securities in Ban For Trade Date 23-OCT-2017:
1.BEML
2.DHFL
3.HDIL
4.IBREALEST
5.INFIBEAM
6.JPASSOCIAT
7.JSWENERGY
8.RELCAPITAL
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