Benchmarks in Japan rebounded Tuesday after data showed business sentiment in the country remained unchanged. The Bank of Japan's third quarter Tankan Survey, which measures business optimism, was at +13, unchanged from the preceding quarter.
The Nikkei 225 was trading 482.51 points, or 1.27% higher at 38,402.06 as of 06:24 a.m.
Markets in Australia declined early morning. The S&P ASX 200 were trading 0.45% down at 8,232.70 as of 06:26 a.m.
Financial markets in South Korea, Hong Kong, and Mainland China are closed for public holidays.
On Monday, S&P 500 and Dow Jones Industrial Average closed 0.42% and 0.02% higher, respectively. The Nasdaq Composite settled 0.38% higher.
The GIFT Nifty was trading 0.06%, or 14.50 points lower at 25,999.00 as of 06:31 a.m.
India's benchmark stock indices recorded their worst day in nearly two months on Monday, tracking sharp falls in heavyweights Reliance Industries Ltd. and ICICI Bank Ltd. amid heightened geopolitical tension in the Middle East.
The NSE Nifty 50 ended 368.10 points or 1.41% lower at 25,810.85, and the S&P BSE Sensex settled 1,272.07 points or 1.49% down at 84,299.78.
Overseas investors remained net sellers of Indian equities for the second consecutive session on Monday. Foreign portfolio investors offloaded stocks worth Rs 9,791.9 crore, domestic institutional investors stayed net buyers for the sixth straight session and purchased equities worth Rs 6,645.8 crore, the NSE data showed.
The Indian rupee weakened by 10 paise to close at 83.80 against the US dollar.
Stocks To Watch
Automobile stocks: Automobile stocks, such as Tata Motors Ltd., Eicher Motors Ltd. and Bajaj Auto Ltd. will be in focus as automobile companies will be announcing their production and sales data for September.
NTPC: The company signed a memorandum of understanding with the Rajasthan government for the development of 25 gigawatts of renewable energy projects in the state.
Kalpataru Projects International: The company received orders worth Rs 1,241 crore in the transmission and distribution business from India and the wider overseas market as well as orders regarding residential commercial building projects in India.
Bank of Maharashtra: The company is looking to raise Rs 3,500 crore from qualified institutional placement. The deal size is set at Rs 1,750 crore, with possible upsize of additional Rs 1,750 crore. The company looks to sell up to 8.6% stake or 61 crore shares at an indicative price at Rs 57.36 per share.
Tata Power: The firm will invest Rs 1.2 lakh crore in Rajasthan for power distribution, transmission and green transition.
Blue Dart Express: The company will increase prices of its shipments between 9% to 12% effective, Jan. 1, 2025. The average price hike is to be implemented due to spiraling long term costs, according to the company.
Sterling and Wilson Renewable Energy: Promoter Shapoorji Pallonji sells 5.8% stake in company via open market on Sept. 27. Its stake in the company falls to 6.94%.
PC Jeweller: The company has approved a 10-for-1 stock split.
Alphageo (India): The company has received an order worth Rs 132 crore from Oil India for data acquisition.
UltraTech Cement: The company will increase its stake in Continuum MP Windfarm to 5.46% from 3.28%. It has made a total investment of Rs 24.35 crore for 5.46% equity shareholding.
Piramal Pharma: The company has announced a $80 million expansion plan for Sterile Injectables facility at Kentucky.
Tata Steel: The company has ceased operations at Blast Furnace 4 at Port Talbot, UK.
Premier Explosives: Srihari Pakalapati resigned from the post of chief financial officer.
Finolex Industries: The company has approved the appointment of Chandan Verma as interim chief financial officer, effective from Monday.
India Glycols: The company has increased its grain-based distillery capacity by 100 KLPD at Kashipur, Uttarakhand, and added 180 KLPD to its existing bio-fuel ethanol plant at the same location. Additionally, it has expanded its facilities for new value-added chemical products by 2,500 MTPA in Kashipur, Uttarakhand.
Indian Railway Catering and Tourism Corp: Ajit Kumar, chief financial officer, retires from the company on Monday.
Thomas Cook (India): The company has partnered with Atirath Technologies to develop generative AI solutions for the travel sector.
IPCA Laboratories: The company’s subsidiary, Bayshore, will sell nine ANDAs to US-based Unichem for $2.65 million, along with its generic business for $10 million.
IPO Offering
Diffusion Engineers: The public issue was subscribed to 114.49 times on the final day. There bids were led non-institutional investors (207.6 times), qualified institutional investors (95.74 times), employee reserved (95.03 times) and retail investors (85.61 times).
Block Deals
RBL Bank: Cronus Merchandise LLP bought 75.11 lakh shares (1.23%) at Rs 203 apiece, Hydra Trading sold 75.11 lakh shares (1.23%) at Rs 203 apiece.
Trent: Dodona Holdings sold 10.83 lakh shares (0.3%) at Rs 7,465 apiece, Siddhartha Yog bought 10.83 lakh shares (0.3%).
Bulk Deals
Cyient DLM: HDFC Mutual Fund bought 4 lakh shares (0.5%) at Rs 667 apiece, Morgan Stanley Asia Singapore PTE- ODI sold 4.34 lakh shares (0.54%).
Hindustan Oil Exploration: BofA Securities Europe SA bought 7.14 lakh shares (0.54%) at Rs 230 apiece, Ramasamy Jeevanandam sold 8 lakh shares (0.6%) at Rs 230.05 apiece.
Spicejet: Plutus Wealth Management LLP bought 85 lakh shares (1.08%) at Rs 59.95 apiece.
Insider Trades
Manappuram Finance: Promoter Nandakumar V P bought 50,000 shares on Sept. 26.
Deccan Gold Mines: Promoter Rama Mines Mauritius sold 1.06 lakh shares between Sept. 26 and 27.
Amrutanjan Health Care: Promoter Nageswaramma Trust sold 8.33 lakh shares on Sept. 26.
Sterling and Wilson Renewable Energy: Promoter Shapoorji Pallonji sold 1.35 crore shares on Sept. 27,
Pidilite Industries: Promoter Neerav Parekh sold 1.30 lakh shares between Sept. 26 and 27.
Trading Tweaks
Moved out short term ASM: SEPC.
F&O Cues
Nifty October futures down by 1.35% to 25,990 at a premium of 180 points.
Nifty October futures open interest down by 8.5%.
Nifty Bank October futures down by 1.47% to 53,435 at a premium 457 points.
Nifty Bank October futures open interest down 3%.
Nifty Options Oct 3 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 23,050.
Bank Nifty Options Oct 1 Expiry: Maximum call open Interest at 54,000 and maximum put open interest at 43,000.
Securities in ban period: Balrampur Chini Mills, Bandhan Bank, Hindustan Copper, RBL Bank.
Also Read: Your Guide To FII Positions On Oct. 1 Trade
Money Market Update
The Indian rupee closed weaker on Monday, pressured by a rise in the dollar index and Brent crude oil prices.
The currency depreciated 10 paise to close at Rs 83.80 against the US dollar after opening at Rs 83.72. It had closed at Rs 83.70 on Friday, according to Bloomberg.
Research Reports:
Paytm - Stabilise Phase Done, Ready For Momentum; Reiterate 'Buy': Dolat Capital
Mahanagar Gas - Strong CNG Registrations Bode Well For Volume Growth: HDFC Securities
Is The Chemistry For Chemical Companies Looking Attractive? DRChoksey's Analysis
Prince Pipes - Resin Price Volatilty To Drag Q2 Performance: HDFC Securities
Hotels Demand To Continue To Outstrip Supply, RevPAR To Grow At 8-9% In FY25: CareEdge Analysis
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