Most markets in Asia-Pacific were trading with marginal gains in early trade Friday as investors await US non-farm payroll data, due to be published later today. The US jobless claims data did little to give clear cues about the Federal Reserve's monetary easing cycle.
Oil prices continued to rise as geopolitical tensions rose in the West Asia, which pressured benchmarks in the Asia-Pacific.
The Nikkei 225 was 119.38 points or 0.31% higher at 38,671.44, and the S&P ASX 200 was 90.90 points or 1.11% lower at 8,114.30 as of 06:25 a.m.
US stocks closed lower on Thursday after data showed weekly jobless claims increased more than projected and tensions remained high in the Middle East.
The S&P 500 Index and Nasdaq Composite ended 0.17% and 0.04% lower, respectively on Thursday. The Down Jones Industrial Average ended 0.44% lower.
Brent crude was trading 0.12% higher at $77.71 a barrel. Gold was higher by 0.02% at $2,656.55 an ounce as of 06:27 a.m.
The GIFT Nifty was trading 0.26% or 65.50 points lower at 25,458.50 as of 06:30 a.m.
The Nifty 50 ended 546.80 points or 2.12% lower at 25,250.10, and the Sensex ended 1,769.19 points or 2.10% down at 82,497.10.
Overseas investors saw their highest single-day selling in 2024, while domestic institutional investors recorded peak buying as NSE Nifty 50 and BSE Sensex plunged, following the Securities and Exchange Board of India's curbs on futures trading and geopolitical tensions in the Middle East.
Foreign portfolio investors remained net sellers for the fourth session and offloaded stocks worth Rs 15,243.27 crore and domestic institutional investors remained net buyers for the eighth consecutive session and bought equities worth Rs 12,913.96 crore, the NSE data showed.
The Indian rupee weakened by 15 paise to close at 83.97 against the US dollar.
Stocks To Watch
BSE: The company will discontinue its weekly index derivatives contracts on Sensex 50 effective from Nov. 14 and Bankex effective Nov. 18.
Bajaj Housing Finance: The lender, in its second quarter business update, reported assets under management at Rs 1.03 lakh crore, up 26% from the previous year. Its loan assets stood at Rs 89,869 crore vs. Rs 70,954 crore in the same quarter of the previous year.
Bajaj Finance: The company's new loans booked grew to 96.9 crore, reflecting a 14% year-on-year increase. Assets under management rose to Rs 3.74 lakh crore, up 29% year-on-year. The net liquidity surplus stands at Rs 20,100 crore, while the deposit book increased to Rs 66,100 crore, showing a 21% year-on-year growth.
Refex Industries: The board has approved raising Rs 928 crore by way of preferential issue of equity and convertible warrants.
Mahindra and Mahindra: The company's unit launched Mahindra ‘ZEO’ 4W SCV starting from Rs 7.52 lakh.
Mahindra and Mahindra Financial Services: The lender, in its second quarter business update, reported overall disbursements at Rs 13,160 crore, down 1% year-on-year, while collections remain flat at 96%. Its non-performing assets were at 3.8%, compared to 4.3% a year ago and business assets stand at Rs 1.13 lakh crore, reflecting a 20% year-on-year increase.
Shilpa Medicare: The company’s arm received a certificate of suitability from the European Directorate for the quality of medicines and healthcare for the API, desmopressin.
Aarti Drugs: The United Kingdom's Medicines and Healthcare Products Regulatory Agency has awarded a Certificate of GMP Compliance to the manufacturing facility of the company's subsidiary in Himachal Pradesh.
Bank of Baroda: The bank in its second quarter business update reported domestic advances at Rs 9.39 lakh crore, reflecting a 12.5% year-on-year increase. Its domestic deposits stand at Rs 11.5 lakh crore, marking 7.1% growth year-on-year.
JTL Industries: The board has approved a split of one share into two.
Uflex: Egypt unit Flex Asepto will set up a packaging unit worth $126 million.
Indian Oil Corp.: The company has signed B2B framework agreements for major petroleum infrastructure development with Nepal Oil Corp.
Sundaram-Clayton: The company has opened QIP and sets the floor price at Rs 2,320.78 per share.
EPack Durable: The company has formed a manufacturing partnership with Panasonic to produce circuit board assembly controllers for room air conditioners.
Ola Electric Mobility: The company has introduced the "BOSS—Biggest Ola Season Sale," featuring the S1 portfolio starting at Rs 49,999, along with festive offers of up to Rs 40,000.
Avenue Supermarts: The company reported revenue of Rs 14,050 crore, a 14% increase from the same period last year. The number of stores reached 377 by the end of the second quarter.
Cyient DLM: The board has approved the acquisition of an US entity through its wholly owned subsidiary, viz., Cyient DLM Inc.
CESC: The company has signed a term sheet with Bhojraj Renewables for a 150 MW solar project and a 300 MW wind project.
Listing
Diffusion Engineers: The company's shares will debut on the stock exchanges on Friday. The Rs 158 crore IPO has been subscribed 114.49 times on the final day. The bids were led by non-institutional investors (207.6 times), qualified institutional investors (95.74 times), retail investors (85.61 times), and a portion reserved for employees (95.03 times).
Block Deals
HDFC Bank: Morgan Stanley Asia (Singapore) Pte. bought 17.5 lakh shares (0.02%) at Rs 1726.2 apiece, Citigroup Global Markets Mauritius Private Limited bought 26.25 lakh shares (0.03%) at Rs 1726.2 apiece, and BNP Paribas Financial Markets sold 43.75 lakh shares (0.05%) at Rs 1726.2 apiece.
Bulk Deals
JK Lakshmi Cement: HDFC Mutual Fund bought 8.44 lakh shares (0.71%) at Rs 785 apiece.
Eris Lifesciences: Motilal Oswal Financial Services Limited bought 20.79 lakh shares (1.52%) at Rs 1350.18 apiece, Rakesh Shah sold 20 lakh shares (1.46%) at Rs 1350 apiece.
Baazar Style Retail: Nidhi Singhania bought 5.4 lakh shares (0.72%).
Insider Trades
Bigbloc Construction: Promoter Narayan Sitaram Saboo (HUF) bought 45,000 shares on September 30.
Deccan Gold Mines: Promoter Rama Mines Mauritius sold 61,315 shares on Sept. 30.
HLV: Promoter Rockfort Estate Developers revoked a pledge for 20 lakh shares on Sept. 27.
Salasar Techno Engineering: Promoter Alok Kumar sold 15.3 lakh shares on Sept. 24, Promoter Shikhar Fabtech Pvt Ltd sold 18.29 lakh shares between Sept. 24 and 26, and Promoter Tripti Gupta sold 12 lakh shares between Sept. 25 and 26.
Amrutanjan Health Care: Promoter Nageswaramma sold 3.4 lakh shares on Sept. 27.
Century Enka: Promoter Kumar Mangalam Birla (Executor to Estate of Basant Kumar Birla) sold 71360 shares on Sept. 30.
Zuari Agro Chemicals: Promoter Kumar Mangalam Birla (Executor to Estate of Basant Kumar Birla) sold 30000 shares on Sept. 27.
Zuari Industries: Promoter Mr. Kumar Mangalam Birla (Executor to Estate of Basant Kumar Birla) sold 30000 shares on Sept. 27.
Pledge Shares
360 One WAM: Promoter Shilpa Bhagat created a pledge for 7 lakh shares on Sept. 30.
Trading Tweaks
Ex/record dividend: Accelya Solutions India, KPI Green.
Ex/record stock split: Godawari Power (Face Value stock split Rs 5 to Re 1).
Moved out short-term ASM: Deep Industries.
Moved in short-term ASM: Saregama India
F&O Cues
Nifty October futures down by 1.89% to 25,475 at a premium of 225 points.
Nifty October futures open interest down by 8%.
Nifty Bank October futures down by 1.87% to 52,384 at a premium of 539 points.
Nifty Bank October futures open interest up 25%.
Nifty Options Oct. 10 Expiry: Maximum call open interest at 27,950 and maximum put open interest at 23,100.
Bank Nifty Options Oct. 9 Expiry: Maximum call open Interest at 53,000 and maximum put open interest at 52,000.
Securities in ban period: Bandhan Bank, Birla soft, Granules, Hindustan Copper, Manappuram, RBL Bank.
Also Read: Your Guide To FII Positions On Oct. 4 Trade
Money Market Update
The Indian rupee closed weaker on Thursday, due to the relentless surge in demand for the US dollar amid rising geopolitical tensions in the Middle East and a slowdown in the country's manufacturing activities in September.
Foreign institutional investors, concerned by these developments, withdrew Rs 5,579 crore from Indian markets, exacerbating the rupee’s downtrend.
The Indian currency depreciated 15 paise to close at Rs 83.97 against the US dollar. It had closed at Rs 83.82 on Tuesday, according to Bloomberg data.
Research Reports:
IT Sector Q2 Results Preview - Recovery In Progress: HDFC Securities
Here Are The Top Stock Picks For October 2024 By Axis Securities
Dabur India - Destocking Drags Sales, Margins; Portfolio Pressure Intensifies: Systematix
NMDC - H2 FY25 To Have Price, Volume Recovery: Yes Securities
RBI's New MPC Members - More Neutral Than Dovish; Cautious Camp To Prevail: Nirmal Bang
Also Read: Bajaj Finance Q2 Update: AUM Rises Over 29%
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