Indian Indices:
Indian benchmark indices are likely to open higher on Wednesday, tracking bullish cues from Nifty futures on the Singapore Stock Exchange and firm trend across global peers. Markets across Asia were trading higher amid strong economic data and strong closing of US stocks.SGX Nifty is trading at 10411 up by 32 pts indicating a positive start.
Key benchmark indices settled with small losses as investors took some cash off the table after indices scaled record highs in the previous trading session. The barometer index, the S&P BSE Sensex, fell 53.03 points or 0.16% to settle at 33,213.13.
Global Market:
• Wall Street ends strong October, stocks close modestly higher on upbeat earnings news.
• Asian stocks surge on Wednesday, with the overnight gains on Wall Street and a weaker yen lifting investor sentiment.
• Key data to watch in US today are PMI Mfg Index, ISM Mfg Index, and FOMC meeting announcement
Major Headlines of the day:
• IndiGo Q2 profit up 294% to Rs552 crore on better revenue management. The airline had reported a net profit of Rs139.85 crore in the same period a year ago. Total revenue rose 27.2% to Rs5,505.56 crore from Rs4,166.93 crore a year earlier.
• Bharti Airtel's second quarter consolidated profit fell 6.6 percent sequentially to Rs343 crore, dented by pricing pressure in India business; but operational earnings and Africa business beat estimates.
• IIFL net jumps 25% to Rs 229 crore in Q2 FY'18. IIFL's income surged nearly 42 percent to Rs 944.4 crore in the second quarter of 2017-18.
• Sintex Plastics Q2 PAT drops to Rs. 26.06 crores. EBIDTA down 17%; margins at 13.4% vs 15%.
• Divis continues to report another weak quarter. Net profit declined by 7.6% to Rs 206.8 crore. Operating profit declined by 27.3% to Rs 277.2 crore. Operating profit margin declined by 569 bps to 31.1%
Trend in FII flows: The FIIs were net buyers of Rs -531.82 the cash segment on Tuesday while the DIIs were net sellers of Rs 596.92 as per the provisional figures.
UPCOMING-RESULTS:- APOLLOTYRE, GODREJCP, HEROMOTO, MAXINDIA, JSWENERGY, RAMCOSYSTEM, SRTRANSFIN, TECHM, TVSMOTOR, TCI EXPRESS.
Securities in Ban For Trade Date 01-NOV-2017:
1.JSWENERGY
2.WOCKPHARMA
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