Most indices of the Asia pacific region rose in early trade on Monday, ahead of key events in US this week, including election outcome and the Federal Reserve's decision.
Japan's Nikkei will remain closed on account of a holiday. At 7:03 a.m., Australia's ASX 200 rose 0.2%, China's CSI 300 was 0.2% higher and South Korea's Kospi rose more than 1%.
In US on Friday, the Dow Jones Industrial Average ended 0.69% higher and the S&P 500 settled 0.41% higher. The Nasdaq Composite ended 0.80% higher on Friday.
Brent crude was trading 1.6% higher at $74.27 a barrel at 7:04 a.m. and gold was up by 0.27% at $2,738.60 an ounce.
At 7:07 a.m. GIFT Nifty was flat at 24,310.00.
The NSE Nifty 50 and BSE Sensex rebounded from two-day decline in an annual special trading session on the beginning of Samvat 2081. Mahindra & Mahindra Ltd., and Oil Natural Gas Corp. shares contributed to the Nifty 50 index.
The Nifty 50 ended 0.39%, or 94.20 points, higher at 24,299.55, and the Sensex ended 0.42%, or 335.06 points, higher at 79,724.12.
Motilal Oswal Financial Services expects this range-bound move to continue with an increase in volatility as we enter an eventful week. Investors' focus would remain on the ongoing result season as several index heavy-weights are set to announce their quarterly results this week, said Siddhartha Khemka, head, research, wealth management.
Earnings In Focus
Indian Railway Catering and Tourism Corporation Ltd., Bata India Ltd., Exide Industries Ltd., Hatsun Agro Product Ltd., KEC Ltd. and Raymond Ltd. are some of the companies that are announcing their results on Monday
Earnings Post Market Hours
Bondada Engineering (Consolidated, YoY)
Revenue up 63% at Rs 481 crore versus Rs 296 crore.
Net profit up 140% at Rs 36 crore versus Rs 15 crore.
Ebitda up 165% at Rs 54 crore versus Rs 20 crore.
Ebitda margin at 11.2% versus 6.9%.
Stocks To Watch
Hero MotoCorp: Reported an 18% Year-on-Year increase in total October sales at 6.79 lakh units, while scooter sales declined 5% to 43,304 units.
Zomato: Investee Adonmo completed a fundraise on Sept. 25, reducing Zomato’s shareholding in Adonmo to 17% from approximately 19%.
SML Isuzu: October total sales fell 8.2% YoY to 801 units, with passenger vehicle sales down 11.9% YoY to 407 units and cargo vehicle sales down 4.1% YoY to 394 units.
Premier Energies: Subsidiaries secured orders totalling Rs 560 crore from two major independent power producers.
NALCO: Sanjay Lohiya assumed the role of chairman and managing director, effective today.
Sun Pharma: The US District Court of New Jersey issued a preliminary injunction, halting the launch of the Leqselvi drug until a favourable court decision or the expiry of the patent in question.
Zen Technologies: Reported Q2 net profit of Rs 63.4 crore, up from Rs 13.6 crore YoY. Revenue rose to Rs 242 crore from Rs 66.5 crore YoY. Ebitda increased to Rs 80 crore from Rs 18.9 crore YoY, with margins expanding to 33.1% from 28.5%.
Trading Tweaks
Ex/dividend: Oberoi Realty, Colgate-Palmolive (India) and Kajaria Ceramics.
F&O Cues
Nifty November futures down by 0.02% 24,383 to at a premium 79 points.
Nifty October futures open interest up by 0.38%.
Nifty Bank November futures down by 0.07% to 51,927 at a premium of 254 points.
Nifty Bank November futures open interest up 1.13%.
Nifty Options November 7 Expiry: Maximum call open interest at 27,000 and maximum put open interest at 22,450.
Bank Nifty Options November 6 Expiry: Maximum call open Interest at 60,500 and maximum put open interest at 47,500.
Securities in ban period: Nil.
Money Market
The Indian rupee closed little changed against the US dollar on Thursday, recovering from an all-time low it hit during the day.
The local currency ended the trading session at Rs 84.0837 per dollar, compared to the previous close of Rs 84.086, as per Bloomberg data. Intraday, it hit a record low of 84.1.
The relief to the domestic currency came after intervention by the central bank. Public sector banks have been selling dollars on behalf of the Reserve Bank of India to support it near the 84.09 level, Informist reported citing forex dealers.
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